Dylan wrote the album The Times They are a-Changin' back in 1964. There is no doubt that back then the times certainly were a-changin. Fast forward to 2012. The rate and pace of change in global trade, communications, politics, culture and technology is, like Felix Baumgartner, about to break the sound barrier.
On Felix, and his space diving exploits, what strikes me most is not so much the jump, although that was spectacular, as the fusion of global trade, communications, culture and technology in the jump. In that jump, and in that fusion, the essential element was marketing.
The jump was part of a global brand narrative: 'Red Bull Gives You Wings'. Red Bull has built its story around extreme sports and innovation. With the jump, the brand ascended with Felix to new heights and in doing so transcended how brands relate to us. The spin-off from the jump in space travel innovations and in inspiring millions, took the Red Bull brand as a social construct into the realms of higher order benefits way above the often timid concept of corporate social responsibility.
8m concurrent views of the spectacle on YouTube are testament to its digital reach and impact, tied up in the minds of millions with the Red Bull brand. Red Bull didn't take the usual marketing route of interrupting time-constrained and data-bombarded people with an unwanted message. They gained our permission to engage and in doing so captured the imagination of millions of us - move over Madison Avenue with exposure predicted to be worth up to £100 million for the brand.
The digital heart of the jump and Red Bull's 'extreme marketing' is significant to me. Like almost any other academic or professional discipline you can think of, marketing theory and practice is being significantly affected by the digitisation of our lived experiences and the opportunities that provides for brands in this instance. As a marketing academic I get to spend a lot of time thinking and writing about this. I have published since 2007 a number of articles which reflect my thinking and have a growing interest in the branding element. What is clear to me is that we are in an era of what could turn out to be the third industrial revolution: based on social media, the rise of 3-D printing and open innovation, as well as significant social and economic shifts around the world.
In the climatic lines of the final verse of Dylan's song of the same name as the album The Times They are a-changin', he quips "the order is rapidly fadin". With Felix and his jump, the irresistible march of digital into every facet of our lives, and the sophisitcation and empowerment of consumers, the old marketing order is rapidly fading. The challenge for marketers is to ensure the new order is relevant for firms and customers in our digital world. Like Felix, we have to jump and, like Felix, leaving behind what is familiar and known is not always easy!
In this blog I hope to share some of my thoughts on this coming from my research and reflections on marketing in a digital world.
Dr Geoff Simmons
20 October 2012
