Tom Goodwin: A Futurist and Innovation Expert Talks About Nowism
Jul 25, 2023
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Tom Goodwin, a futurist and innovation expert, discusses rethinking technology, the importance of brands, the pitfalls of AI, and the problem of focusing on mundane analytics. He highlights how companies get irrationally excited about new tech, the difference between story and optimization, and the consulting world's anxiety-fueled nature. Tom also emphasizes the need to consider what hasn't changed and shares his disappointing experience at Cannes.
Recognize the enduring elements of marketing, like brand and customer service, to make better strategic decisions amidst the constant changes in the industry.
Approach AI with a level-headed perspective, focusing on enhancing work and improving customer experiences rather than fearing obsolescence.
Deep dives
The Importance of Emphasizing What Has Not Changed
In the podcast episode, Tom Goodwin highlights the significance of recognizing what has not changed in the marketing industry. He argues that while new technologies and trends emerge, many fundamental principles of marketing have remained the same. He encourages marketers to take a step back and focus on the long-term, instead of getting caught up in the short-term hype. By understanding the enduring elements of marketing, such as the importance of brand, reputation, and customer service, marketers can make better strategic decisions and avoid getting overwhelmed by the constant changes in the industry.
The Misconceptions and Anxieties around AI
Goodwin shares his views on artificial intelligence (AI) and cautions against the anxieties and misconceptions surrounding it. He argues that not every new technological advancement will revolutionize the industry or render human roles obsolete. Instead, he urges marketers to approach AI with a level-headed perspective and consider how it can genuinely enhance their work and improve customer experiences. Goodwin emphasizes the importance of being ambitious and using technology to create better products and serve customers more effectively, rather than merely focusing on efficiency gains and cost-cutting measures.
The Role of Brands in a Changing Landscape
Goodwin discusses the significance of brands in a rapidly evolving marketing landscape. He challenges the notion that branding is a waste of money, asserting that brands provide meaning, differentiation, and trust to customers. He suggests that brands hold even greater importance now, as consumers are faced with an overwhelming number of choices. Goodwin encourages marketers to think about how to build stronger brands and create better products and customer experiences. He emphasizes the need for marketers to take a step back, reassess the possibilities, and embrace a more ambitious and customer-centric approach.
The Need to Focus on Long-Term Success and Avoid Getting Distracted
Goodwin advises marketers to prioritize long-term success and avoid getting distracted by short-term trends and fads. He argues against the current industry obsession with immediate data-driven metrics and calls for a more balanced approach. Goodwin advocates for taking a step back and considering what really matters in marketing, such as delivering excellent products and services, understanding customer needs, and building strong brands. He encourages marketers to resist the pressure to constantly chase the latest technologies or strategies, and instead focus on what truly drives meaningful results and customer satisfaction.
Episode 28 - A CMO Confidential Interview with Tom Goodwin, author, speaker and former head of Innovation at Publicis, Zenith and Havas. Tom shares his often provocative thoughts on how to rethink technology by focusing in on what it means versus what it is, why brands will matter more than ever, how folks will bungle AI, and why those managing marketing often miss the big picture by focusing on mundane analytics and "refinement within a closed ecosystem." Key topics include how companies get irrationally excited about new tech, the difference between the "religion of the story" and the "religion of optimization," his belief that the consulting world is "fueled by anxiety," that leaders should always be aware of what has not changed, and why Cannes was a "bit sad."
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