502: The ABCDE Of Marketing Re-Invented, Part 2 | Rishad Tobaccowala

Back for part 2. Last week Rishad Tobaccowala gave us some insight on staying human in the age of data. This week, he's expanding that conversation by discussing what he calls the "ABCDE of Marketing Re-invented" (access link for Rishad's blog). Rishad's ABCDE framework for how marketing has changed and continues to change is used as a way for him to help guide people he advises. He believes that this is the future of marketing, below are descriptions for his framework as discussed in another can't-miss episode:

a. Audience: Who we are marketing to, how we find them and their mindset has shifted greatly over the past decade.

b. Brands: Brands continue to be important but the way they are built is changing greatly. Today Experiences, Purpose, and Employee Joy matter the most in building brands. These changes explain the long-term secular decline of advertising and communication but the renaissance and rise of marketing.

c. Content: Content has always been a key to marketing. The three big differences are that there is much more of it, it is far faster and there are many new ways of making it.

d. Data: Data is key to the future of marketing. It is like electricity. Without electricity, one can not keep the lights on. Without strong data, a company cannot compete. It is necessary. But it is not sufficient. Because just like few companies differentiate themselves by how they use electricity, very few companies will find a competitive edge in data. It will be a key ingredient and not the be-all or end-all of strategy. And very few companies will be able to live on their own data.

e. Enterprise: If a company is to deliver experiences in a world of people with god-like power while steering itself with a purpose and looking after its stakeholders particularly its employees but also making sure it delivers tangible results today it will new to sculpt itself into a new form by building new muscles.

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