The New Consumer Contract, with Erich Joachimsthaler of VIVALDI

Today’s guest is Erich Joachimsthaler, VIVALDI CEO and author of The Interaction Field (among others). Since his time at university, Erich has spent his career chasing the intangible value of a brand, far beyond sentimentality and logo recognition. In his latest book, Erich lays out the true intangible value brands can leverage — new digital business models that go beyond delivering great products and services. He shared why brands must enter into a new “Customer Contract” with consumers, one in which they work to solve problems faced by society, not the market.

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Light at the End of the Tunnel: How Dark Stores and Micro-Fulfillment Centers are Revolutionizing the Retail Supply Chain

As the well-worn proverb says, “necessity is the mother of invention,” the pandemic hit retail spaces particularly hard, pushing consumers to use ecommerce more as social and safety protocols increased. While there may be more stores open now, shoppers have found that the convenience and speed when ordering items online is invaluable even long after the protocols have gone.

To take advantage of this, retailers have turned parts or all of their spaces into “dark stores,” which act much the same way a warehouse or fulfillment center would. The opportunity then arises for retailers to not only leverage a wealth of direct consumer data from these types of transactions, but also provide greater personalization and localization services. This itself sets off a bevy of offers and angles from which to engage their customers.

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Pulse Issue 23

Is It Live, or is it an Infomercial? The Potential for Livestreaming to Revolutionize Content and E-commerce

November 2020

By Josch Chodakowsky, Senior Manager, Research & Innovation at Ask the Expert
By Josch Chodakowsky, Research Manager at Ask the Expert
The COVID-19 pandemic and the quarantines that followed quickly changed the way brands could sell and show off their products, fostering a need for marketers to get inventive with their tactics. The online space also evolved during this time, becoming increasingly dominant and the perfect place to welcome creativity beyond banner ads, video, and social posts. Enter livestreaming, a tactic already well established by gamers and other communities as a way to connect with one another in real-time. What better way for marketers to connect with consumers with so many traditional methods inaccessible for the foreseeable future? Similar to a television informercial or home shopping network, livestreaming offers all of the benefits of those models but cuts out production costs and call-center middlemen. While brand livestreaming is mainly centered in Asia at the moment, there is a huge opportunity and an eager audience ready for marketers to connect with everywhere else. Read on for more information about the livestreaming trend, how to do it, and what other brands have done in this space.
Livestreaming may sound similar to what TV shopping was like in the 1980s; although with online livestreaming, retailers are spared heavy airtime and production costs, and instead can use existing social channels. While brands may initially feel vulnerable exposing themselves to a live audience, livestreaming makes the experience feel more natural and real to customers. Livestreaming for e-commerce can also help fill the social aspect that's missing in regular online shopping by increasing interaction between the customer and seller. This article investigates the trend further to explain how, and why, demand for live video streaming is growing exponentially, and how those who are new to the space can get on board.
Livestreaming hasn’t been with us for too long, but it’s quickly gaining traction and the attention of those who are on the lookout for new and innovative ways of delivering content. With the help of early adopters like Gary Vaynerchuk and other high-profile influencers, the industry is projected to skyrocket in the coming years, flipping the whole content production and consumption process on its head. Lifehack discusses the real power of livestreaming and its effectiveness.
For many companies, it’s hard to come up with alternatives to in-person events that are as effective for marketing. It’s tough to replace the human connection and excitement that naturally comes with meeting people in real life. Live video is quite possibly as close as you can get, and has proven to be a highly engaging and effective solution to scaling events, drumming up excitement, and delivering a message. This post from Sprout looks at four innovative ways brands have leveraged livesstreaming to replace in-person events.
Livestream shopping has proven to be an invaluable bridge across the gap between goods suppliers and consumers during the peak of lockdown caused by COVID-19. With content fronted by an influencer – often a celebrity – promoting a product, it might seem like the reinvention of the infomercial. However, livestream shopping is interactive: viewers can chat and click to buy. It’s creative, too, with more emphasis on entertainment, engagement, and celebrity value, and less on hard sell. It’s currently most established in Asia (almost a third of internet users in China have purchased goods via live broadcasts). Here We are Social analyzes those most effectively using livestream shopping in China to provide important lessons for brands considering using it elsewhere.
Earlier in 2020, Facebook revealed that at least 20 percent of videos posted to Facebook are livestreamed. And major media organizations like Joe.ie are investing heavily in video and livestream technology, building studios, and creating a catalogue of bespoke shows to target their buyer personas. If Facebook’s bet on live pays off, streaming will become a necessity for brands who want to compete in the digital area. This piece shares some tips to get you started.
Are you an ANA member with a research request? Contact Ask the Expert to submit your question.

About ANA Marketing Futures

Knowing that marketers are increasingly challenged in their efforts to keep up with the latest trends and technologies, the Association of National Advertisers (ANA) tasked itself with creating a program designed to help marketers anticipate—and prepare for—the future of marketing.

 

ANA Marketing Futures is what emerged. With a focus on innovative topics and emerging trends, ANA Marketing Futures provides resources that will influence and inform via member cases, research studies, and insight from industry innovators. Check back often to learn about emerging trends and become inspired to take steps toward the growth of your business.

 

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