In a world of infinite information and product choice, consumers hold more power than brands. For retailers, this means embracing marketing’s new ‘power of now.’
Many retailers are making headway on some of these elements. Yet few seem to truly understand that historical advantages are fraying. They don’t seem to get that immediacy is redefining the definition of relevance.
For marketers, the power of now is about owning the micro-moments. Increasingly, that is less about a traditional TV spot or some other large-scale ad campaign. It is less about a piece of direct mail or a batch, blast and hope email campaign. And it certainly is not about one-size-fits-all campaigns that lack both relevancy and immediacy.
The localization of marketing is moving quickly, and therefore the need to meet customers where they are in new and different ways is evolving just as fast.
+Commentary: Have to hand it to Google, this ‘Think with Google’ series is slick, and well done. Some gold standard benchmark stuff. The homage to Obama’s inaguaration by way of MLK quote:
“We are now faced with the fact that tomorrow is today. We are confronted with the fierce urgency of now. In this unfolding conundrum of life and history, there “is” such a thing as being too late. This is no time for apathy or complacency. This is a time for vigorous and postive action.” ― Martin Luther King Jr.
The quote above was my take away, Steve Dennis’ 5 points are all valid, and when talking about Retail* he is spot on for the greater part of it, we could disagree respectfully, and he has a very luxury brand notion of retail obviously. That said, for artisanal or boutique shops there is a lesson to be learned from where the bigger brands will be fertile ground for how they carve out their niche.
As is noted in the quote above “historical advantages are fraying”; which only serves for those who offer products & experiences that actually embody “now” — and have less resistance to it than a larger multi-national cororations who aren’t as nimble. This is an opportunity to seize those micro-moments in authentic ways!
This is inspiration to small-to-micro businesses everywhere, for honestly they don’t have the capital to invest in one-size-fits-all measures, they have to tailor & direct their limited resources in the way that brings them the best business opportunities. Instead their advisers are telling the to be more like you! Or hiring an intern to try & emulate it. ⊕
*(which he calls ‘We-tail’ without a hint of the irony, awkwardness, how misogynistic & rather bro-ish humor it seems to entail, or audible groans from people like us when we read it)