Rajesh brings up two factors that caused previous generations to value ownership – financial success (trophies) and asset building. If I have to analyse my own motivations in the past, both of these would find a place. If I dig deeper, I also see a couple of others. One would be lack of access on demand. (eg. music/movie CDs, books, even say, photographs) You can see how streaming and cloud storage have changed this. The other subtext I can vaguely discern is ‘control’. A car, home, all lend an air of certainty and being in control. Maybe it has something to do with growing up in middle class India which had quite a lot of experience with scarcity. But in the line of anti fragile thinking, the key skill going forward would be agility rather than trying to retain control. In essence, a whole lot of cases for ownership that no longer seem relevant. 

I also agree to his point on identity, and would expand it, again from my own experience, to a ‘subscribed worldview’ that affects my consumption. The nuance is that my behaviour (still) undergoes shifts according to contexts and has an impact on both my identity in that situation and my consumption. As Alice would say,

(via)

The brands/content I consume (eg. Netflix , after paying them and the DNS proxy provider, as opposed to torrents ) and the ones I don’t (eg. recently #GiveUpThumsUp) are all manifestations of my worldview. The consumption is more ‘my interest’ based than influenced by mass consumption, increasingly. That is an indication of the ‘what’.

My awareness and consideration of the things/experiences I want to consume happen either by me going in search for it (Google) or by them appearing in my ‘newsfeed’. (social platforms, offline conversations, online/offline brand interventions)  The scope for online/offline brand interventions is limited because I don’t read newspapers, only watch TV for Malayalam movies/ Bollywood new movies, don’t listen to radio unless the Uber driver plays it, read in the car, (deeming hoardings a blind spot) and only very occasionally visit malls. The ways a brand can reach me is limited.

But many brands do reach me thanks to digital. Netflix points me to content I’d like on the home screen and gets it right many a time. (The Bletchley Circle is the best example!) Threadless has catchy email subject lines, Amazon appears on my FB newsfeed with DPAs. Data sliced and diced to be me-centric, and catching me at micro moments. (though not as skewed to mobile as Google would like to propagate) On the other side, digital has given access to the long tail of brands/content producers to be publisher and media. So, Serial is able to do all this for its Season 2 launch.  And brands tie up with publishers to create fantastic content. (native advertising, to use jargonese)

If I zoom back, I can see two key narratives. One, transience. The decline of ownership (consumer side) and the rise of micro moments (from a brand opportunity perspective) are both indicators of this. Two, relevance. In the days of limited media platforms, relevance took a back seat thanks to relatively few advertisers. But digital has changed that. The challenge for brands is not love/hate, but irrelevance.

P.S. A great post by Seth Godin in this context.

This post is about the second. So, what is the Internet of things? The wiki definition is simple, but effective –  “The Internet of Things (IoT) refers to uniquely identifiable objects and their virtual representations in an Internet-like structure.” The best primer I have come across would be this infographic, which has everything from a quick technology explanation, applications and challenges to market size, statistics, and interesting use cases. For a really solid perspective, look no further than this deck titled ‘The Internet of Everything‘.

How does it affect us? For now, it is about convenience. If you’re familiar with Android launchers, imagine an IoT version – it’s almost there, using iBeacon! There’s more – Piper, which works as an IFTTT for your home, the smart fridge that can order groceries from the online store, the smart TV that can learn preferences and help us discover content, the washing machine that can help order detergent, the egg tray that will let you know about the number of eggs it holds and their ‘state’, the automated coffee machine, Philips’ connected retail lighting system, Pixie Scientific’s Smart Diapers, the GE a/c that learns your preferences, the smart bulb that doubles up as a bluetooth speaker, (!) and so on. Some of the products are really useful and solve a need, while some others are more fads and probably not adding the value that reflects the potential of IoT. But that’s just the learning curve in progress, as the market starts separating needs and wants.

All of this also means that consumption patterns will begin to change, as more purchases become automated, and more importantly data-driven. In my post on the driving forces of 2014, I had brought up technology as the biggest disruption that marketing has seen. This is most definitely one of the manifestations.

What can brands do? For starters, get interested. Think about the tangible benefits that can be offered to consumers. What are the kind of data patterns that devices (or products) can surface to help the consumer make better consumption decisions? What kind of contexts can be relevant? Instead of force feeding advertising on traditional channels and fracking social platforms, can communication to consumers be made seamless using data, contexts and easy processes? While ‘device’ brands might have an initial advantage, ‘product’ brands need not be left behind at all. As the washing machine post (linked earlier) suggests, a Unilever or P&G might subsidise a machine, because it’s pre-sold with 500 washes worth of their detergent. It could even be real time, with SDK, API systems telling a partner brand to push a contextually relevant communication to a consumer. As things start storing and communicating data, privacy will be a major factor that decides whom consumers will share what with. Unlike media, trust cannot be ‘fracked’, it needs to be earned over a time frame.

Where does it go from here? A common language/protocol/registry is a good start, as is a white label platform – both are trying to connect an assortment of devices and gadgets. While there is value in data at an individual level (more on that in the next narrative) one of the critical factors in the success of this phenomenon is the devices talking to each other – humans acting as middle men to pass on data may not be a smart way ahead!  Digital Tonto has an excellent nuanced perspective that differentiates IoT from the web of things. (WoT sounds cooler!) The difference is in connection and interoperability.

Equally important is this phenomenon’s ability to solve human needs. (Internet of Caring Things)

Collaborative consumption is fast becoming a consumer reality. As always, brands (generalising) are bound to be a few years behind, but the hope is that the web of things will force them to start collaborative creation and distribution and more importantly, focus on consumer needs.

until next time, #WoTever

P.S. In a corruption of Scott Adams’  idea, I think #WoT is paving the way for robot domination.

P.P.S. If the subject interests you, check out my Internet of Things Pinterest board.

We’ll begin with JWT’s ‘100 Things to Watch in 2011’. (via Surekha on Reader) While there are many things in this that you might already think is a trend, what I liked about it is its thinking outside of any specific prisms – brands, technology etc, but still managing to capture the  essence of trends in human behaviour, culture, consumption, the shifts happening therein, and thus, a good reckoner for marketers.

The second one I’d like to share is Edelman’s ‘Digital Trends to Watch in 2011’. Though there are a few commonalities with the JWT deck, this seems more focused. While this is definitely quite a sensible thing to do from a client perspective, I missed the “completely out of the blue, but damn, why didn’t I think of it?” moments that I usually associate with its creators. But that’s just a testament to my high regards for Armano and Rubel, more than anything else. What I liked most about this was the trend + best practice combining, that layering gives excellent perspective.

The last one I’d like to share is Rohit Bhargava’s ’15 Marketing & Social Trends to watch in 2011′ (via Gauravonomics). There might be some overlap with the other two, but again, the idea of examples with each trend makes it a must-read, in addition to the overall quality of insights.

While its easy to see that there are commonalities in these, I also noticed an interesting thread of thought that  resonated most with me.

‘There’s an app for everything everywhere’ is perhaps the underlying theme in #3 (Apps Beyond Mobile), #7 (Ubiquitous Social Computing, more specifically its best practice) and #9 (Appification of the web) in the JWT, Edelman and Rohit presentations. We then move on to ‘production of consumable content and experiences across platforms’  that connects #93 (Transmedia Producers – faint connection), #4 (Transmedia storytelling) in the JWT and Edelman presentations respectively. And at last, we move on to how it can scale which is brought out through #3 (Developer engagement) in Edelman’s presentation and #7 (Crowdsourced innovation) and #11 (Employees as heroes) in Rohit Bhargava’s presentation.

While I may not endorse a brand strategy only basis tools, the ‘appification’ across platforms actually throws open the door for marketers to not just satisfy their ‘short head’ consumers in better ways, but explore the ways to reach the ‘long tail’. It allows them to blend or distribute their ‘story’ across platforms and if done well, raise the interest level of their consumers. And an agency or brand manager cannot do it alone. While the idea of crowdsourcing is looked down upon by many, there are enough examples to show that if targeted well and executed with clarity, it can deliver results. More importantly, here, the ‘crowd’ is not consumers, but developers who can re-create the brand’s experience on multiple platforms, and employees who can create a human story that will resonate with others.

If these possibilities for 2011 don’t excite you, I’ll try again next week, but I really don’t have any more of these awesome presentations to back me up.

until next time, slide rules!