Like Minds Ideas & Innovation Festival 2018

At the beginning of September, I was invited to attend the first Digital Marketing Know How meeting organised by Unlocking Potential. Around 20 Cornish businesses working in various industries but all using digital marketing to its fullest potential met at Frugi’s headquarter in Helston discussing how digital marketing has had an impact on their business success.

It was great to see how everyone is keeping up with current technological developments and changing customer preferences when it comes to marketing and keeping in touch. At the end of the meeting, Unlocking Potential invited us to join them to the Like Minds festival in Exeter. As soon as I saw that Jeremy Waite from IBM Watson was one of the keynote speakers I decided to take two days out of the office and take part.

The main take from the conference is that technology is only as good and innovative as the person who is using it. Technology is enabling but also disrupting which is good for most of us and bad for some. It means that we all need to adapt and adjust how we use and interact with technology.

At the conference it was also highlighted that it’s becoming more difficult to acquire new customers. Therefore, the digital focus needs to be on retention which I loved to hear and wholeheartedly agree with. Philip Kotler, the marketing genius of the 20th century and my marketing bible in university, has celebrated (in his absence) a comeback. The 4 Ps are of more importance than ever. Especially positioning is the glue that holds your marketing strategy together.

And then there was Jeremy Waite. His talk was very inspirational and a bit frightening at the same time. Did you know that all the Wimbledon highlights shown in this year’s tournament were generated by Watson? The computer system used the excitement level of the audience, reaction of the players and past data to automatically select what was worth showing again. No human involved!

He also differentiated between innovation and disruption. Innovation is just an old ‘thing’ made faster, but disruption is a new ’thing’ making the old one obsolete.

One of the statistics that stood out for me the most is this:

“90% of all data created in the world was done in the past 12 months!”

This was then picked up by Suki Fuller who made sure that Like Minds was not just a platform for directors and executives but also for realists. She made us all aware that the data we’re giving away today will affect the next generation more than us. Children are already profiled, and their data used to create the perfect product for them. As much as data opens up opportunities, it also creates new challenges.

If you have the chance to attend next year’s event, I highly recommend attending.