Top marketers invest USD2b in emerging tech in 3 years

In order to compete more effectively, most of the world’s top marketers have gone way beyond traditional approaches and supported a massive growth in emerging technologies, according to a report from independent consultancy R3.

Released this month, “Future40,” explores how P&G, Coca-Cola, Samsung, Nestlé, Volkswagen, Shell and others have invested more than USD$2b since 2017 in Artificial Intelligence, AR/VR, Blockchain and other areas.

“The pressure to connect and engage in inspiring ways has never been more intense,” says Greg Paull, Co-founder and Principal of R3. “With Future40, we aim to give marketers a broad understanding what’s possible today and in the near future, as well as showcase the diversity of technology partners globally.”

The book features leading agencies and technology providers from North America, Europe and China, and showcases how marketers are using emerging technology to stimulate engagement and conversion. In addition, it includes a practical guide for marketers on how best to avoid ‘shiny new objects’ and take practical steps to building technology into their plans

Methodology

R3 reviewed hundreds of technology companies of which 40 were selected for making a real difference for their clients. A key criteria was practical application – through case studies, R3 scored and rated each firm based on Insights, Strategic Thinking, Creativity and Innovation.

These companies cover 12 broad categories, including artificial intelligence, AR/VR, blockchain, chatbots, digital transformation, future consumers (Gen Z), future of retail, internet of things, live video, neuromarketing and programmatic.

Amongst the 40, there were some common themes:

⦁ Improved experiences for marketers and consumers: Whether it was blockchain or VR, the technology showcased had to show results. This could mean driving overall process efficiencies, cost-saving, higher engagement and retention, increased transparency or enhanced customer experience.

⦁ Presented technology that was applicable and replicable: Case studies were important to the vetting process to prove that the technology was able to be applied in a commercial context.

⦁ Could be young start-ups and late-stage companies: The age or size of the organization has little correlation with the effectiveness of the technology offered, therefore, R3 formulated their shortlist to include both new and mature companies.

Key Insights for Marketers
The report gives some specific recommendations for marketers to move forward

⦁ Start with your own risk-profile: “Technology start-ups can have business structures and operations that are tenuous,” said Paull. “Really knowing who you are working with can prevent marketers from being caught in a ‘here-today, gone tomorrow’ scenario.”

⦁ Get your house ready for innovation: Marketers need to know if their entire organizations are ready for the technology. This might include auditing systems, processes and talent.

⦁ Ensure all stakeholders are onboard: Data ownership and security needs to be top of mind. Marketers need to ensure that the CIO, CTO and legal divisions of your company are fully aware of what’s happening.

For more information about “Future40”, visit www.R3future40.com

After 20 years of evolving technology, shifting market trends, and adapting to changing consumer behaviour, the media landscape has nearly reached saturation.

We’ve optimised to the fullest, providing advertisers with abundant choices across technology, platforms, data-driven marketing, CTV, OTT, DOOH, influencer marketing, retail, etc.

Media specialists have diversified, but with more options comes the challenge of maintaining income growth. The industry is expanding, but revenue isn’t keeping pace.

Now, we’re at a TURNING POINT: time to explore and harness new sustainable revenue streams. While GroupM forecasts a 7.8% global ad revenue growth in 2024, challenges like antitrust regulation, AI and copyright issues, and platform bans persist.  

Collaboration is key: partnerships that thrive on synergy, shared values, and aligned goals are becoming increasingly essential.

Hence, the Malaysian Media Conference, in its 20th year, has assembled the partners and players under one roof on October 25 for a day of learning, sharing, and exploring.

 

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