Marketing 5.0

Technology for Humanity

In Marketing 5.0, Philip Kotler, famous promoter of the 4 Ps and author of famous Marketing Management, discusses how marketers can use new technologies to meet consumer needs and make them a tool for differentiation.

A brief summary of the book.

What is Marketing 5.0? It is defined as the use of these new technologies to create, communicate and improve the value of the customer experience. This Next-Tech includes AI, NLP, sensors, robotics, augmented reality (AR), virtual reality (VR), IoT and blockchain.

In Marketing 4.0 on digital transformation, P. Kotler already addressed some of these technologies according to their degree of adoption, but today they are at the heart of the brand marketing process.

As logical as it may seem, it is nevertheless essential that marketeers already have built two organizational disciplines “data-driven” and “agile” marketing.

Only under these conditions, they can therefore strongly consider Predictive, Contextual and Augmented Marketing as components of Post-Digital Marketing – 5.0.

Predictive Marketing

How we predict market behavior, using technology to determine and adopt brand strategies.

After collecting data, it is necessary to process it, to transform it into useful information and to make relevant use of it. The goal is to try to predict what can happen during the consumer journey to develop models that give us clues about their future behavior.

A predictive marketing model considers the analysis of actions taken in the past against the results obtained, triangulating the information according to the circumstances and when it was carried out.

Contextual Marketing

This step refers to how we personalize the consumer experience, based on our new decoding.

In the Contextual Marketing model, we determine personalized contact at each stage of the consumer’s journey, in real time. For example, if now is the right time to contact him, if it is the right support, if he is in a good mood or not. With these variables and many more, we can, thanks to artificial intelligence (AI), determine the type of message that corresponds to each profile, to provide a unique and meaningful experience. Two factors must be taken into account, the activating factor and the programmed response. For the activating factor, it could be states of mind, times of the day, specific times, or a particular activity that helps us know it’s time to take action. Once the activating factors have been determined, it is time to execute the programmed response, the idea is that each action is planned according to the observed activation corresponding to it.

Augmented Marketing

This concept refers to how we can improve the relationship between humans, taking advantage of technology.

Contrary to the fear many feel when adopting new technologies, we are talking about how digitization can help improve relationships between people, sometimes providing detailed information to give a correct answer, in other cases providing new channels of contact and care to connect people.

One of the big fears in this regard is that a machine could replace a human, but the augmented marketing approach suggests that instead of replacing humans, they are using technology to make better use of their humanity. When a human cannot perform a task, either because it is very complex, time consuming or repetitive, this is when a machine kicks in.

This methodology sees technology as a tool that increases human activity recording his personal life experience, for example in a call center where they need updated and processed information to be able to provide correct attention. the same goes with a sales or technical support area.

For the first time in mankind, five generations with different technological uses find themselves active side by side. The question is therefore to ask: How to adapt Marketing 5.0 for Baby Boomers, X, Y, Z, and Alpha?

In a polarized society, we will also wonder about the promises and perils of these new technologies for our society.

Without a doubt, with the acceleration of digitization brought about by C19, Tech-Empowered Marketing 5.0 is our new roadmap!

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