The property market has not gone digital at same rate as other sectors, like shopping and taxis. This is visibly demonstrated by the state of estate agents, where it is still clearly the land of fax-machines, whiteboards and post-dated cheques. Where there are landed assets to maintain, investing in the future digital direction of the business does
Media has always been a tech-driven business, exploiting, over centuries, the development of papyrus, paper, printing, radio, TV and the World Wide Web. The key to each of these revolutionary technologies is that they made the distribution of content fundamentally easier.
While content is the bedrock on which media companies are built, the adage that ‘context is king’ is undeniably true. It doesn’t matter if you’ve invested in an award-winning team of journalists, or that you’ve spent millions on a world-altering piece of data journalism if nobody sees it and it doesn’t benefit your bottom line. The problem is that when there is so much content, so widely distributed, it’s tough to find your audience.
Media companies have been investing huge amounts in building or licensing proprietary tech solutions in order to counter those pitfalls. News UK, for instance, is approaching the end of a trial of a new tech solution designed to reduce subscriber churn as it tacitly admits it cannot grow subscriber numbers forever, while Schibsted is investing in a new techstack across its many titles which allows for greater personalisation and the surfacing of content relevant to its audience.
The same technology that can be used to tailor content to individual users can also be used to deliver more targeted advertising, which is seen as one way to avoid the race-to-the-bottom nature of most digital display advertising.
Additionally, as the push for more ecommerce revenue continues in the face of squeezed display ad spend, publishers are finding they have to invest significantly in the tech and skills behind such transactions. Writing for Digiday, Max Willens points out that where ecommerce retailers are unwilling or unable to share data on transactions, it’s often up to the publishers themselves to make up that deficiency:
On Sunday 18th March 2018 a 49 year old woman in Arizona was killed by an autonomous Uber car, which struck her as she pushed her bicycle along the roadside. The death was blamed on defective software. Two years prior to this, the first of multiple Tesla driver deaths occurred. There is significant evidence
Last week, it was reported that there are more unfilled job vacancies than ever before in the British economy. As of November 2017, there were 810,000 unfilled vacancies in the UK – an increase of 60,000 on the previous year.
For all employers, that deserves a moment of reflection. But for employers of highly skilled workers, such as programmers, the current situation threatens to become a crisis as uncertainty over the direction of Brexit creeps in.
The challenge of attracting talent to the UK is underlined by the latest Global Talent Competitiveness Index (GTCI), which shows the UK has dropped from 3rd place in 2017, to 8th place this year. The rumours and uncertainty surrounding our future relationship with the European union are evidently making the UK a less attractive place to work.
Nintendo Switch has just become America’s fastest selling home games console selling 4.8m units in 10 months since launch. This exceeded the previous record of 4m units, also held by Nintendo for its Wii. (To blow our own trumpet for a moment, we had predicted in a previous blog at its launch that the Switch “could set the gaming world alight.”)
Not content with that, though, Nintendo announced its innovative new IP ‘Labo’ about which the press are already writing “this latest idea is so crazy it might just work” and “how small our imaginations were, and how glorious it is to be blindsided by Nintendo again.”
So, what is Nintendo doing that other companies aren’t, and what can we all learn from them?
In short, Nintendo has
Last year was a busy 12 months in terms of tech business manoeuvring. The big moves, however, were takeovers, mergers, launches and collapses – there didn’t seem to be that many public offerings.
Much of the movement in 2016 was established businesses buying content firms or platforms that provided a link to sizeable audience. Verizon bought Yahoo for $4.8bn, Microsoft paid $26bn for LinkedIn, and we also looked at telco convergence generally. Yet, other than flagging up the expected IPO of Snapchat, Tech IPOs didn’t seem to impact the media world in 2016 to such a degree.
Now, thanks to a study from PwC, the reasons for that have become somewhat clearer – as 2016 marked the decade’s low point for global tech IPOs.
Estimates suggest paying staff can constitute anything up to 60% of a firm’s revenue, yet when we hire members of our senior team, rarely does the process become technical or subjected to scientific rigour. More often than not, gut-feeling can be the determining factor. Well, all that could be about to change.
Welcome to the world of People Analytics – where firms apply theories associated with the collection and analysis of Big Data to their workforces.
People Analytics is the move to help firms understand their employees better; to know what drives them, what causes demotivation, and to examine how that could change the criteria on which hiring choices are made.
Off the top of your head can you guess where Britain’s fastest growing technology hub is located?
East London? Manchester? Cambridge? Liverpool?
Nope, it’s none of those places. According to this year’s Tech Nation report, Bournemouth is by some distance the fastest-expanding tech cluster in the country. Between 2013 and 2014, it saw a 212% rise in new tech companies forming. It’s growing nearly twice as fast as Liverpool, its nearest rival.
The coming of the New Year brings with it an annual rush of predictions on the trends and technologies that will dominate the next twelve months for those businesses keen to use digital channels to expand and improve the way the talk to – and do business with – their customers.
In the latest of these predictions, Tech Radar said last month the key trend for retail technology in the next 12-months would be the rise of ‘hyper-personalisation’. Instead of looking at portfolios of individuals, customer management would instead be looking at customer persona as a way to drive innovation and keep shoppers engaged.
“Only by serving the changing needs, preferences and behaviour of the customer,” it said, ‘will retailers and brands be able to meet today’s hyper-connected consumers on their terms, across all channels of interaction.”
If you buy ad space on behalf of advertisers and a technology comes along that, almost overnight, undermines your business model and makes it staggeringly easy for clients to place ads themselves, you might well have a few sleepless nights, perhaps even considering what other ad sales jobs are available.
Well, say hello to ‘programmatic advertising’.
The term isn’t one familiar to many, but for those focused on the future of ad sales and marketing, programmatic advertising is rapidly becoming the thing that dominates their thinking.
Tesco Labs, the supermarket’s digital innovation wing, is running a 48-hour ‘hackathon’ next month to spur the development of health-themed technologies for its customers.
The supermarket has made an open invitation to computer coders, designers, and those working in tech marketing and business development to attend the weekend event in London, starting on September 12.
The aim of the hackathon is to develop retail media ideas that can help Tesco’s customers make healthier food choices in store and online.
In addition, Tesco is keen to explore how it can share data to help customers understand their own behaviour, compare their food choices with others, share tips and advice, and track and find out more about what they’re buying and eating.
Nearly a third of publishers in the UK have not heard of programmatic advertising, according to a recent survey by tech firm AppNexus. For a technology that has been widely touted as the future of the publishing industry, this is faintly astonishing.
So what is programmatic advertising?
In a nutshell, it’s a form of online display advertising that relies on complex algorithms to set a series of criteria that when met trigger the deployment of ads. Campaigns are booked and optimised via a simple web interface.
Imagine running a business where behind the scenes there wasn’t just lots of dull clerical work, but a ton of switched-on, enthusiastic people experimenting at the cutting edge of technology to push your organisation forward.
Wouldn’t that be great? Isn’t that probably something you’d like to tell your customers about?
Previously, we have asked what makes good brand publishing and looked at best practice in financial services – a sector notorious for its heavy regulation and conservative approach to storytelling – but when looking for brands that are really good at developing innovative ways to talk about what they do well, technology companies are a great place to start.
As the number of empty shops on UK High Streets increases, retailers are resorting to more innovative ways to attract time-pushed shoppers, or those looking for more unique shopping experiences. The adoption of new technologies such as augmented reality and virtual changing rooms in-store is on the rise.
At this month’s Consumer Electronics Show in Las Vegas, technology company Bodymetrics showcased the latest version of their body mapping technology, which creates a 3D model of a shopper’s body that mirrors their every move, allowing them to virtually ‘try on’ outfits. The camera’s sensors can detect tightly or loosely fitting garments to help find the right size. Spanish company AITech.es have developed a similar technology that also has a system capable of determining the availability of certain items in real time and can promote related clothes according to the historical choices of the user.
At the moment, I think the true value of augmented reality technologies such as Bodymetrics lies in reducing return rates on clothing that doesn’t fit. If you run out of time to join the queue for the changing room to see if that much-coveted LBD that you absolutely need for tonight actually fits, simply try it on virtually and you could skip the queue. However, pair this with the ability to then tweet images of yourself wearing the dress to your friends to get their thoughts (Nadap’s Tweet Mirror for example) and the retailers could really be onto something…
Martin Tripp Associates is a London-based executive search consultancy. While we are best-known for our work in the TMT (technology, media, and telecoms) space, we have also worked with some of the world’s biggest brands on challenging senior positions. Feel free to contact us to discuss any of the issues raised in this blog.
Clothing company Zappar takes augmented reality clothing to a whole new level. This year, the company created interactive t-shirts that work with a free app – customers download the app and then view the t-shirts through their device screen. The t-shirt then ‘comes alive’ as the customer touches part of the t-shirt on the screen (see video). What’s really clever about the Zappar t-shirt is that it merges shopping and games in a move to generate interest and push sales. The t-shirts went on sale in the autumn in Macy’s and JCPenney stores in the U.S.
U.S. retailer Moosejaw created an X-Ray App last year that uses
It is astonishing how much the sector has changed in that time. The job titles themselves are indicative of these changes. While we still recruit MDs, Editors, Sales Directors and so on, we are now as likely to be working on roles like Head of Product Roadmap or Chief Scientist. As business models keep changing, so too do the attributes of the individuals who can add value.
We are all media companies now. And we need media skills to match.
The phenomenal pace of change in internet and mobile technology means that retailers, banks and other consumer-facing businesses are no longer just competing with their high street rivals; they are competing for consumer attention with anyone who has a presence in the digital space. To be effective, they are having to think like media businesses.