There’s no doubt that the rapid growth of technology and social media sites has drastically influenced the way that consumers interact with brands on a daily basis. And, with advertising technology experiencing a similar boom, marketers and brands are able to deliver their customers with a highly targeted and personalized experience that caters to their needs.
In a recent interview from the Cannes Lions International Festival of Creativity, we talked with Blumberg Capital’s David Blumberg about the effects of technology on modern marketing practices and how it has been and will continue to impact various markets around the world.
To find out more, watch the full interview below:
These are the key takeaways from the interview:
- David Blumberg is a venture capitalist from San Francisco and was one of the judges of the Cannes awards. David’s focus at the conference was specifically geared towards judging innovation, but that was not the only thing he noticed throughout the course of the event. In the interview, David explains that the most predominant and intriguing aspect of the Cannes Lions festival was how technology, brands, media outlets, and marketers were converging to produce stronger brand loyalty in consumers by providing a more personalized experience.
- David explains in the interview that this technological growth is having profound effect on the world economy, most notably on developing countries. He claims that while countries with already developed economies are experiencing slower growth from this advancement, countries with developing economies are seeing rapid growth and beginning to shift from having large numbers of impoverished citizens to a more middle class status.
- This shift presents a great opportunity for brands and new consumers to connect, and the Cannes festival brought a lot of new technology and thought leadership to the table to help exacerbate that process.
Clearly, these new technologies and marketing tactics are having a widespread and positive effect on the world’s economy, and as time goes on, it will only continue to grow.
Murray Newlands is a freelance journalist and video producer.