Technology Trends Disrupting Consumer Behavior

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Technology Trends Disrupting Consumer Behavior Kyle Lacy Head of Marketing Strategy OpenView Venture Partners

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What do I do? I am a marketer. I’ve written 3 books. Head of Marketing Strategy OpenView Venture Partners Previously at ExactTarget & Salesforce

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trends vs reality

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what’s next?

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what’s now?

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The Trends. Moments Matter Connected Consumer Owned Audience Collaborative Economy Humanizing Automation

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one. Moments Matter @kyleplacy Photo by Seth Casteel

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Photos by Seth Casteel

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two. Connected Consumer @kyleplacy

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Mobile Penetration Rate (Total Population)

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Americans now spend 151 minutes per day on smartphones, more than on TV or laptops. (Millward Brown, 2014)

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45M 16B 1B 130M Photos/Day Total Photos Likes/Day Users

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Photo by lzf, iStock Photo Photo by lzf, iStock Photo 1 in 5 searches on Google are related to location. (Google Data, Global, March 2014)

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By 2017 there will be over 20 billion connected devices.

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Billions of connected devices demands a completely seamless experience

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Mobility is about helping not selling.

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Mobility is about transforming the experience.

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83% of US consumers research products while in-store on their phone. Our Mobile Planet by Google

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@kyleplacy @kyleplacy

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@kyleplacy @kyleplacy What happens when 5 billion* additional people join the Internet? *this number is completely made up but means A LOT of people

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@kyleplacy @kyleplacy $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

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three. Audience Effect @kyleplacy

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Whoever owns the audience… owns the experience.

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Photo by lzf, iStock Photo Photo by lzf, iStock Photo 1 in 5 searches on Google are related to location. (Google Data, Global, March 2014)

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Most people think our main competitors are Yahoo! and Bing. It’s actually Amazon. Eric Schmidt, Chairman, Google

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via ben-evans.com

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via ben-evans.com

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via ben-evans.com

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four. Collaborative Consumption @kyleplacy

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Jeremian Owyang - Crowd Companies “The people formerly called consumers are now getting what they need from each other, rather than from traditional institutions. Instead of buying new things, people are sharing products with each other in an emerging societal shift called the Sharing Economy.”

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Jeremian Owyang - Crowd Companies “These Empowered Individuals are beginning to function like hotels, taxis, farms, restaurants, manufacturers and other traditional business models. The crowd is becoming a company unto itself - it’s backed by powerful technologies, like social networks and mobile devices, and it is self-organizing.”

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“Investors have valued Uber as if it’s bigger than the entire taxi industry.” Travis Kalanick, CEO, Uber

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@kyleplacy @kyleplacy #mixwest14

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FastCompany The company is believed to be in the process of raising a war chest of close to $1 billion — with about half of that secured. We’ve heard that Airbnb has been courted by investors out of Asia, as well as larger private-equity groups.

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34,000 cities 190 countries 1 million listings 30 million nights book

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For every 1 percent increase in the number of Airbnb bookings, there is a .05 percent decrease in hotel revenue. Study by Boston University 2013

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Airbnb generated $632 million in economic activity in New York in one year Airbnb visitors stay on average 6.4 nights (compared to 3.9 for hotel guests) and spend $880 at NYC businesses (compared to $690 for average New York visitors) 82% of Airbnb listings in New York are outside of the main tourist area of midtown Manhattan, and the average Airbnb guest spends $740 in the neighborhood where she stays In one year, Airbnb generated $104 million in New York City economic activity outside Manhattan

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What does this mean for brands? @kyleplacy

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five. Humanizing Automation @kyleplacy

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We must move from numbers keeping score to numbers that drive better actions. David Walmsley Head of Multichannel Marks & Spencer

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How do we make one department’s outputs another department’s inputs?

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Percent of Marketers Rating Cross-Functional Relationships as Absolutely Critical/Very Important 86% Head of Sales CEO Head of Product COO CFO 78% 70% 67% 56% 37% CIO Source : Salesforce Marketing Cloud

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You are not marketers.

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You are not technology experts.

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Social media managers or SEO experts.

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You are experience makers and managers.

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It starts with data and ends with the experience. It is the only thing that makes you relevant.

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The Trends Moments Matter Connected Consumer Owned Audience Collaborative Economy Humanizing Automation