How Voice AI Will Impact Business Decisions in 2020 | Financial Brand Forum Keynote 2019

TL;DR

Consumer behavior is rapidly shifting, and companies need to adapt their marketing strategies to keep up with the changes.

Transcript

• 15 years ago, if you thought it was a good idea to pay strange men to drive around your fourteen-year-old daughter, you would be laughed out of a room. Now, parents are more comfortable with their daughters going into uber than driving themselves. We are going through major major consumer shifts. (bright upbeat music) You got your perspective. (b... Read More

Key Insights

• 💱 Consumer behavior is undergoing significant shifts due to advancements in technology and changes in societal norms.
• 👶 Companies in the financial sector need to embrace innovation and adapt their marketing strategies to connect with consumers through new communication portals.
• 💪 Building a strong brand is becoming increasingly important in a world where consumers have more choices and are bombarded with marketing messages.

Questions & Answers

Q: What advice does the speaker give to companies in the financial sector regarding regulation and innovation?

The speaker urges companies to stop using regulation as an excuse for not innovating. He believes that businesses need to adapt to new communication portals and learn to connect with consumers through modern platforms like social media.

Q: How can companies adjust quickly to the changing marketing landscape?

Companies can adjust quickly by focusing on their marketing strategies and spending. It is easier to cut marketing budgets and allocate funds to more effective channels like digital advertising than to rebuild technology infrastructure.

Q: What is the speaker's view on the importance of brand in the digital age?

The speaker believes that building a strong brand is crucial in the digital age. As technology continues to advance and disruptions occur in various industries, brand recognition and loyalty will be the key differentiators for companies.

Q: What is the speaker's view on the future of marketing in terms of consumer behavior?

The speaker believes that the future of marketing lies in understanding and adapting to consumer behavior. With the rise of voice technology and convenience becoming increasingly important, companies need to shift their strategies to align with these changes in consumer expectations.

Summary & Key Takeaways

• Consumer behavior is changing significantly, with new platforms and technologies shaping the way people interact with brands.

• Regulation should not be an excuse for companies in the financial sector to avoid innovation and adapting to new communication channels.

• Marketing strategies and spending should be adjusted to meet the needs of consumers in the digital age.

• The internet is disrupting traditional industries, and companies that fail to embrace new technologies and build their brands will struggle to compete.