Marketing has the power to transform organisations and outcomes, and indeed plays a pivotal role in some of the biggest transition of business success. We need to stop talking about modern marketing changes and actually get on and do it. The ongoing Fourth Industrial Revolution carries serious challenges for companies. They have to adapt to new rules, implement bold solutions and meet the expectations of customers. Whoever adjusts, wins. Those who do not, will be eliminated without hesitation.
Industry 4.0 is already here! The first Industrial Revolution: steam mechanisation; the second: electrification; the third: computer technology. Industry 4.0 is about bringing data, automation and AI into business. Thanks to such wireless technologies, the devices gain the ability to communicate. Using real-time information, they can react in a smart way to different situations. They cease to be pre-programmed task contractors. They become flexible co-creators. Hence it impacts on consumers behaviour and… marketing strategy.
DM2 and Stock Exchange Revolution
But the 4th Revolution is not only manufacturing plants or production halls. DM2 Agency’s advertising is equally bold. First, it proved its value with the so-called computer revolution. Then, in cooperation with AmerBrokers (part of American Bank), it introduced the first order system for the online exchange. In 2000, the new Warsaw Stock Exchange Trading System (WARSET) was introduced and it allowed the use of computers where it was previously impossible. As a result, AmerBrokers could offer its customers an absolute novelty that is nowhere else available. It helped to strengthen the image of the brand, open to innovation and setting gutter trends. The revolutionary zeal in DM2 has not weakened.
Alzheimer recovery via VR by DM2
During Industry 4.0, the Agency again took up the challenge. In cooperation with the selected British local authorities, representatives of DM2 initiated a project to help in the prevention of Alzheimer’s disease. This is due to the innovative use of virtual reality technologies. Patients at an early stage will be able to walk into their past with a help of carefully designed goggles, used to activate the brain and prevent symptoms of the disease. This is a particularly responsible task – it concerns not only helping those already at risk, but also joining in activities that eliminate the harmful effects of an ageing European society. In this context, it is safe to say that the DM2 mission is beyond the classic framework of the Fourth Industrial technology. Opposition to negative social phenomena, motivating to implement innovations, is something more valuable than just trying to find methods to improve production processes. And the members of DM2 Agency speak with particular pride about this aspect of their mission.
We need to remember that modern technology cannot obscure the human perspective, that technology is supposed to be on the services of the company’s growth, not the other way around. As Dorota Iwankiewicz from DM2, states that
“Consumers are human beings endowed with a freedom and creativity. Subjectivity plays a major role in forming their opinions and reactions.” Iwankiewicz continues that the company can reshape its business strategy to design and adapt its products or services to be “more focused on value, emotion, sincerity and authenticity.”
A recent study by MediaChain supports this statement and shows that younger consumers while they have learned to be frugal, are also willing to pay more for products that are true to their values. 70% would stop buying a product if it wasn’t ethical in an area they cared about. Therefore, what the customer really wants is a brand with a human face, with values.
Also, the study states that 51% make a purchase with a view to posting about it online. At one end of the spectrum, it’s about being savvy and getting things cheap with discounts – with little loyalty to brands – or, on the other, it’s about generating real brand loyalty through standing for something.
“And it is how we understand marketing strategy in DM2” Dorota Iwankiewicz concludes.
What is more important the product itself is not enough, we must focus certainly on the experience even more in recent times. Essentially, experience, with helping technology, has become the product that marketers are selling. This is a base to build Trust.
PwC’s report ‘Industry 4.0: Building Your Digital Enterprise’ emphasizes that with so much change in business, there’s one area that companies can’t afford to ignore: trust. Digital ecosystems can only function efficiently if all parties involved can trust in the security of their data and communication. Ralph Lightman from DM2Agency added
“The sense of Security is the absolute foundation for making customer decisions. And during the sales process, business has to cover this fundamental human need.”
Publication for the fifth Congress of Polish Entrepreneurs in the UK organised by PBLink, British Polish Chamber of Commerce