Get inspired at #IIeX – culture and consumption #MRX #NewMR
Live notetaking at the #IIeX conference in Atlanta. Any errors or bad jokes are my own.
Culture: Blue coean or black swan, by Grant McCracken, Culturematic
- Organizations exist in a state of perpetual surprise – Peter Schwartz
- Where does disruption come from? It’s hard to detect it went it beings and it’s hard to detect danger.
- Should we factor culture into our considerations? Of course, yes.
- Bitters remained out of fashion for a very long time until the mixology reevolution in California. Sales spiked.
- But data spikes all the time so how do you distinguish noise from signal?
- We’ve seen a spike in hard soda recently [yuck. Don’t mess with my root beer!] Does this mean the end of mixology?
- Social data is great for politics but not so great for culture. Political supporters live in their own worlds on twitter, they are completely separated.
- On the other hand, Google trends tracked the love of goats and goat cheese and the loss of the south beach diet. You can watch markets on Amazon, google, and etsy to learn how and where a trend is changing.
- We need to factor culture into the mix, like a weather map, show the changes in motion, make predictions about where and how fast they’re changing.
Macro Matters; Looking forward to the future context of consumption, by J. Walker Smith
- The third age of consumption, just coming out of an age of unlimited expectations and promises, everything could be overcome. But now we are bumping up against capacity.
- Aspirations of lifestyles are now changing. Live large, carry little. We want to live as big a life as possible but without all the badge of the past – less stuff, less upkeep, less hassle, less debt, but no decrease in enjoyment. THis is because of constraints of capacity.
- Cognitive capacity – absorbing and processing the entire marketplace is impossible. Fragment nation (white paper). People are trying to keep up and marketing activities have skyrocketed. We are outstripping capacity of consumers to keep up. People feel like we are stalking them online. And we are.
- Economic capacity – defying gravity (white paper).
- Resource capacity – planet cannot support more growth happening the way we’ve done it before. Global warming is a capacity we’ve lost. There are 8 other capacities and we are risking those too.
- Third age of consumption – growth, value, competitive edge are driven by relationships, experiences, and algorithms. People don’t want the product, they want the benefit. We need to decouple products and benefits. People don’t want to connect with brands and logos. They want to connect with people. People want algorithms from marketing to find the right fit. Now we need to advertise to algorithms.
- After the war, people had no stuff and they wanted stuff. A couple decades after that, we switched to wanting experiences. Now we are in a social market place. The locus of value has changed.
- Uprising of allegiances – pundits think America is falling apart but this is false. America has never been more connected and networked than today. It looks different and has sharper elbows but there is more focus on allegiances than ever before.
- [He is really an impassioned speaker! And, he uses notes effectively. You CAN use notes as a speaker and do an awesome talk.]