The Century for Emerging Markets
Over the next years we should see similar events in our analytical marketing field. Currently emerging markets primarily copy the analytical efforts and practices of the US and the mature European markets. But this should rapidly change, similar to the car industry, where pure copying is replaced by true innovation and the ability to compete for the leadership position within a particular discipline.
I expect innovations from emerging markets in areas like:
- Professional Mass-Sourcing that combines labor intensive work supported by software solutions, e.g. text content analysis relying on individuals interpreting the text enhanced by software
- Cost efficient analytical software that enables individuals to use analytics for “home usage”, e.g sport enthusiasts expand their fantasy football engagement with additional customized statistics
- Codification of more data sets into analyzable data elements, e.g. coding of qualitative aspect of print ads to better understand the correlation between creative product and business impact
Today’s marketer needs to have an understanding of what is going on in the most important emerging markets (e.g. BRIC countries) to truly utilize the power of the global marketing community and practice. The protective bubble of the North American and European marketer is over.