Canadian Marketing Association 3 day Conference: NEXT 2007
Just came back from an awesome 3-day conference in Ottawa - CMA's NEXT 2007... Learnt a lot about upcoming trends in marketing, heard from great speakers and I'm now totally inspired!
http://www.the-cma.org/convention/Convention.asp?WCE=C=47%7CK=226298
From all the terrific keynote speakers I heard, here are the top few that I found most relevant and the key take aways.
1. Don Tapscott - Wikinomics and the Transformation of Marketing - how the technology revolution (Web 2.0), along with the new net generation (those who grew up with the net) created a social revolution. This social revolution in turn created an economic revolution like no other.
a) Peering - cost of collaboration is minimized and mass collaboration has allowed each company to outsource anything outside of their core competency
b) Transparency – corporations have to build trust with its customers as they can no longer hide flaws; they are essentially “naked” and under heavy scrutiny by consumers who look for the best value and integrity
c) Sharing – instead of being very protective of “intellectual property”, IBM and Linux has been sharing their systems which benefits both parties
d) Acting Global – the old saying “think global, act local” is no longer valid as the world shrinks everyday due to technology. China and India will be the powerhouses that can “think global, act global”
e) Digital Conglomerates – new species of company such as Yahoo! and Google have surfaced, and will be here to stay. Their revenue streams will not only come from ads (via search engines), but they are now also a retailer, payment system etc.
New terms I learnt from Don:
"ideagoras" - in which the primary function of the market is to match existing solutions with problems and problems with those who can find solutions.
Prosumers – a combination of producer and consumer. Consumers are being more active in producing exactly what they want (eg/ “Make your own Doritos ad”, fashion, music re-mixes)
Indeed, Don was my favourite speaker and I can’t wait to start reading his book, “Wikinomics”!
2. Ron Bertram - Nintendo DS and Wii: A "New" generation of gaming - Nintendo leveraged the Blue Ocean Strategy and opened up gaming to a completely different demographic – from teenage boys to everyone including young girls, seniors, men in their ‘30s, parents.
Blue Ocean Strategy is a way for companies to capture uncontested market space, and thereby made competition irrelevant. Definitely a book I'd like to read... http://www.blueoceanstrategy.com/
3. Heath Slawner - Influence: The Ultimate Power Tool for Marketing - He talked about the six universal principals to influence others:
a) Reciprocity – obligation to repay. Eg/After someone thanks you, instead of being humble and dismissing your efforts, use “That’s what long term partners do for each other!” to strengthen relationships
b) Consensus – follow lead of similar others. Eg/ Amazon has “People who bought this book also liked this other book”
c) Authority – people will listen to legitimate experts. Trappings (behaviors / characteristics of “experts”) are a short cut, but may not necessarily be true indicators of expertise. Eg/ dress, title, status, networks / connections, possessions etc.
d) Consistency – people don’t want to be inconsistent with what they said. Get commitment from person – it has to be voluntary, active, public.
e) Scarcity – People want more of what we have less of
f) Liking – We prefer to say yes to those we know and like.
4. John Wood - Leaving Microsoft to Change the World through the Power of Education
John started a non-profit call “Room to Read” that serves children in the developing world, building libraries, creating bilingual children books, and offering long-term scholarship program for girls.
He runs this non-profit organization like a corporation, so overhead costs are low and he measures results religiously. His work is extremely inspiring and his dedication to this cause is admirable.
Though there’s not enough space to write pages and pages about this conference, and all the wonderful speakers. I can only say that this has one of the most rewarding experiences I’ve had, learning from a top-notch group who knows what they’re talking about!
http://www.the-cma.org/convention/Convention.asp?WCE=C=47%7CK=226298
From all the terrific keynote speakers I heard, here are the top few that I found most relevant and the key take aways.
1. Don Tapscott - Wikinomics and the Transformation of Marketing - how the technology revolution (Web 2.0), along with the new net generation (those who grew up with the net) created a social revolution. This social revolution in turn created an economic revolution like no other.
a) Peering - cost of collaboration is minimized and mass collaboration has allowed each company to outsource anything outside of their core competency
b) Transparency – corporations have to build trust with its customers as they can no longer hide flaws; they are essentially “naked” and under heavy scrutiny by consumers who look for the best value and integrity
c) Sharing – instead of being very protective of “intellectual property”, IBM and Linux has been sharing their systems which benefits both parties
d) Acting Global – the old saying “think global, act local” is no longer valid as the world shrinks everyday due to technology. China and India will be the powerhouses that can “think global, act global”
e) Digital Conglomerates – new species of company such as Yahoo! and Google have surfaced, and will be here to stay. Their revenue streams will not only come from ads (via search engines), but they are now also a retailer, payment system etc.
New terms I learnt from Don:
"ideagoras" - in which the primary function of the market is to match existing solutions with problems and problems with those who can find solutions.
Prosumers – a combination of producer and consumer. Consumers are being more active in producing exactly what they want (eg/ “Make your own Doritos ad”, fashion, music re-mixes)
Indeed, Don was my favourite speaker and I can’t wait to start reading his book, “Wikinomics”!
2. Ron Bertram - Nintendo DS and Wii: A "New" generation of gaming - Nintendo leveraged the Blue Ocean Strategy and opened up gaming to a completely different demographic – from teenage boys to everyone including young girls, seniors, men in their ‘30s, parents.
Blue Ocean Strategy is a way for companies to capture uncontested market space, and thereby made competition irrelevant. Definitely a book I'd like to read... http://www.blueoceanstrategy.com/
3. Heath Slawner - Influence: The Ultimate Power Tool for Marketing - He talked about the six universal principals to influence others:
a) Reciprocity – obligation to repay. Eg/After someone thanks you, instead of being humble and dismissing your efforts, use “That’s what long term partners do for each other!” to strengthen relationships
b) Consensus – follow lead of similar others. Eg/ Amazon has “People who bought this book also liked this other book”
c) Authority – people will listen to legitimate experts. Trappings (behaviors / characteristics of “experts”) are a short cut, but may not necessarily be true indicators of expertise. Eg/ dress, title, status, networks / connections, possessions etc.
d) Consistency – people don’t want to be inconsistent with what they said. Get commitment from person – it has to be voluntary, active, public.
e) Scarcity – People want more of what we have less of
f) Liking – We prefer to say yes to those we know and like.
4. John Wood - Leaving Microsoft to Change the World through the Power of Education
John started a non-profit call “Room to Read” that serves children in the developing world, building libraries, creating bilingual children books, and offering long-term scholarship program for girls.
He runs this non-profit organization like a corporation, so overhead costs are low and he measures results religiously. His work is extremely inspiring and his dedication to this cause is admirable.
Though there’s not enough space to write pages and pages about this conference, and all the wonderful speakers. I can only say that this has one of the most rewarding experiences I’ve had, learning from a top-notch group who knows what they’re talking about!
posted by Bernice Cheung @ 9:15 PM
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