Last week, two members from Active had the opportunity to attend the Fall edition of the Marketing Evolution C-Suite Summit in Toronto. Karim Kanji, Director, Social Media Strategy, and Steve Muscat, VP, Strategic Partnerships, took some time away from their busy schedules to share some takeaways from the conference.
There were many great sessions throughout the day, but a few stood out as particularly interesting and informative.
A session from entitled “Thriving in Times of Change” discussed building new business models that continue to innovate in a disruptive way, by competing against traditional goliaths in the market. In this session, plant-based beverage company Greenhouse's Co-Founder and Director of Brand & Marketing, Emma Knight, provided conference attendees with 7 rules for disruptive marketing:
- Know Why - Be purposeful in your reason to be in business (it cannot be only about the money), and let that serve as your guiding light.
- Tell the Truth - Be transparent in your business and content, as your reputation will be built on this. There is no room for sweeping things under the rug.
- Word of Mouth - Be simple in what you want people to know about your product, and give them the tools to allow them to share - this will help get your message out there, and to have it spread.
- Create a Story World - The use of imagery, blogging, and social media (i.e. sharing of plant-based recipes) will help to build your story.
- Pound the Pavement - Take your product everywhere to gain exposure (i.e. conferences, tours, sampling opportunities, etc.)
- Customer Service = Marketing - There is opportunity for marketing and brand building at the point of sale, by designing the customer experience in store (i.e. Greenhouse designed product displays at ground level to look like 3D billboards to bring product to life).
- Own Change - Be comfortable with change, as it is the only constant.
Another session falling under the same theme of disruption was entitled "Your Long-Term Disrupted Consumer Forecast," presented by Andrea Bell, Head of Mindset, Strategic Insights and Executive Editor of WGSN.
Some interesting global trends in consumer demographics and behaviours were identified:
- New Consumer Voices - In Canada, by 2030, 30% of consumers will be multi-racial. By 2019, the Muslim segment is predicted to spend $327B on apparel, a spend which is larger than the UK, German, and Indian segments combined. Those companies that cater to Muslim consumers have great potential to win market share, as this is a growing segment that is currently underserved.
- M-Commerce will Dominate - In 2020, mobile will overtake e-commerce. Consumers also expect to be able to do what they want quickly; after 3 seconds, consumers will move to a competitor if your site takes longer to load.
- Crowd-based Capitalism - Currently, 8% of Canadians make a living solely from crowd-based services, such as Uber, Airbnb, etc. Further, 2.7 million Canadians participated in the sharing economy at least once per week this year, and by 2020, revenue from these services will be $420B globally.