Takeaways from TribeOpen 2023
What follows is a detailed report of select discussion points from last week's TribeOpen 2023 event: “Tomorrow's Canvas: Exploring Technology's Impact on Communications,” which was sponsored and co-hosted by EGC Group.
TribeOpen is an annual global event from Tribe Global where marketing professionals may gather and exchange ideas, network, and have informative discussions about the ever-changing marketing landscape. Among the topics covered...
Artificial Intelligence (AI)
- Where AI is concerned, keep in mind that the data marketers are working with isn’t “new” data. The reality is that there is a better understanding of how to process this data and knowing when it should be applied.
“AI Won’t Replace Humans—But Humans With AI Will Replace Humans Without AI”
— Karim R. Lakhani, Harvard Business School Professor
“And, one of the things I've always found is that you've got to start with the customer experience and work backwards for the technology. You can't start with the technology and try to figure out where you're going to try to sell it. And I made this mistake probably more than anybody else in this room.”
— Steve Jobs, Co-Founder, Chairman, and CEO of Apple
- Ultimately, the goal is to enhance the customer’s brand experience through AI—not use this technology for the sake of it.
- The best way to go forward with AI is through curiosity and testing.
- AI is not going away. AI has—and will continue to have—a direct impact on how agencies and clients produce work.
- Marketing professionals must learn how to adjust their processes to include AI in what will be a hybrid approach to their task.
- Additionally, AI may be applied to the management of reputation positive reviews.
Out of Home (OOH) Advertising
- This medium has evolved from a technological standpoint that has resulted in a much greater ability to target. And while programmatic OOH enables brands to better target their customers, the newer technology requires brands to give up creative control to a certain extent.
The Future of Social Media: A Global Perspective
- Award-winning leaders from agencies around the globe joined forces to provide a global perspective on what the future of social media looks like. The panel discussed how brands use social media in different markets, influencer marketing trends, and advice to accelerate social media strategies and results, among other topics. This insightful discussion was moderated by Hayley Botte, Social Media Manager at EGC, who was joined onstage by Duncan McCrum, CGO at Fifty; David Balfour, CEO and Co-Founder at LIGHTBLUE; Herni Wijaya, CGO at Leverate Group; Duncan MacLennan, Founder at Sunny Futures & Innovation; and Christina Botte, Director of Social Media at EGC.
- This extension of cryptocurrency that uses blockchain in new methods for achieving new results it still in its nascent stage, as there is a lack of true understanding among marketers and agencies. Brands need to determine a reason for applying Web3 as opposed to simply “jumping on the bandwagon.” In short, a brave client would have to be willing to try Web3, due to the uncertainty of the return on investment (ROI).
- There are strong cases for applying Web3 where loyalty programs and rewards are concerned. This is because loyalty programs have expanded beyond traditional setups, and evolved into brand engagement programs. Data that is being shared across loyalty programs paves the way for interoperability brand partnerships.
- This technology also provides additional opportunities for community engagement via “Web3 fireside chats.”
The Future of Creator Marketing & Advocacy
- Anna Vale (CMO of Fractional) and Edward East (Founder and Group CEO of Billion Dollar Boy, an influencer marketing agency) discussed the evolution of influencer marketing and how brands can navigate a new and evolving creator economy.
- Marketers should consider the influencers and ambassadors to be chosen before campaigns are built. In short, campaigns should be built around whichever influencers are chosen.
- Influencer budgets should increase in 2024. Marketers should remember that ROI is there when the partnership is planned ahead of time.
As you can see, a lot of information was covered at TribeOpen. The upcoming year will have a lot of challenges for brands and marketers. Let the EGC Group help you meet these challenges. Get in touch with us today to let us know your concerns and questions. We will have the solution.
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