Sitecore will talk about the product at the symposium against the backdrop of how brands must learn to survive.
The product innovations presented today at the Sitecore Virtual Symposium recognized the need for brands to adapt quickly and easily in an era where accelerated digital transformation is meeting growing consumer demand for relevant experiences.
Like Sitecore, CMO, Paige O’Neill said in her speech: “Customer expectations are changing again.” It takes time to appeal to the customer experience, and a new mindset focuses on empathy.
Sitecore’s AI standard for automatic personalization will be available in early 2021. It allows Sitecore users to personalize content without manually defining segments and with minimal traffic. It enables automatic customization of images, text, and CTAs and provides real-time information on the results of the customization.
Sitecore Content as a Service, based on Content Hub, will also be available early next year, with centralized planning and collaboration tools and the ability to deliver content via API to any channel. “Content strategy is key,” O’Neill said, “and it’s becoming more and more important.”
Reinforcing the concepts of personalization and empathy, and how technology and a content strategy support them, may seem like an obvious line. The strongest message, however, is that options are no longer pleasant to expand. It is essential for survival.
This is the message that Sitecore CEO Vijayanta Gupta conveyed in an in-depth conversation with MarTech Today. “I fall in love with how brands survive year after year,” he said, “and what we encounter with COVID means that some brands we know will struggle or not survive.”
Brands don’t miss out on big changes, he explained. No brand like “COVID” is leaking; what’s missing are tectonic shifts, deeper trends that threaten your business. Gupta’s example is Kodak, which understands the demand for small digital cameras but doesn’t realize that consumers are developing on one device (phone/camera combination).
Gupta today identifies five trends that brands need to focus on to be resilient.
“There is a wave of opinions around the world that capitalism does not serve the purpose of all interested parties,” he said. There is a step to change capitalism from within so that brands serve not only shareholders, but other stakeholders, such as customers, employees, society, and the environment.
Consumers will now interact with brands that are environmentally and socially responsible. Gupta expects to transfer billions of dollars in investment this year to ESG funds (funds that integrate environmental, social, and governance factors into the investment process). Brands must show that they have a purpose in society and want to invest in it again.
“We all grew up with the idea of life as something linear. “You are born, you get an education, you apply for a job, you retire and you die,” said Gupta. The trend that has developed and accelerated with COVID in recent years is that many people are opting for a non-linear life: they are shortening their years, moving from part-time to full-time employment, and moving into advisory or charity positions. , for instance. retire.
The importance of brands is that traditional LTV models and customer cycle predictions become irrelevant as consumers transition to a non-linear lifestyle, a trend associated with the economy and subscribers. They run out of things like houses and cars.
The ubiquity of the customer. “Traditionally, brands see the world with a very close glance,” said Gupta, “and divide it into developed and evolving. They have chosen to serve the developed world one way and the developing world another.” Many chose not to serve. the last.
This model is no longer valid. explained today that brands that engage consumers and strive to differ by revenue, not by region. “Customers do not see themselves as an economy in developed or emerging economies, nor as a brand. If they do that, they will lose a large customer base.
“We are surrounded by connected devices, 30 to 50 billion worldwide, depending on the research you believe in. You don’t have to use these devices. For example, I don’t look at my smartwatch, but I calculate my frequency. heart rate, my oxygen level, etc. “This environment, Gupta said, points to a new paradigm of privacy: that the brands I deal with shouldn’t use my information for things they don’t.”
Brands that fail to respect these limits fall into the bucket of “supervisory capitalism,” an “extremely harmful brand,” Gupta said. “It’s just a mistake.” Resilient brands are those who understand that access to personal data is responsible. Privacy has become a core brand promise.
“Looking at the proliferation of digital engagement across channels, the question is not whether brands will use [AI] algorithms to increase engagement, but when it will start,” said Gupta. “Many of them are already using automated customizations, such as those offered by Sitecore, but that’s a challenge: sometimes the algorithms are biased.”
Of course, humans don’t consciously create biased algorithms – the algorithms insert data, and the data itself is biased. The bias is amplified when the algorithm works on a large scale. Resilient brands will balance using AI to enhance digital experiences while defining management to ensure bias is detected.
Why do we care?
A scientist once remarked: ‘The map is not the area. At martech, product travel charts can no longer just reflect supplier capabilities and key customer needs. It has to respond to the area – the unknown land – that we are all going through; tectonic changes underway.