Will we be using Google in 5 years? What will Google look like in 5 years? What will social networks look like in 5 years from now? Traditionally companies made short term and long term plans and marketing strategies. Most companies develop plans for 6 months, 2 years, 5 years and sometimes 10 years. That can be very difficult now for some companies when the industry is changing at such a rapid pace. The ability for a business to adapt quickly is more necessary than ever. Infrastructure and key partnerships are necessary and will hopefully allow companies to evolve and innovate at a speed fast enough to stay on top of the rapid development. What the playing field will look like in 5 years from now is anyone’s guess. I personally can’t wait.
Companies such as Google, Facebook, Apple, PayPal and many other large companies are innovating at incredible rates to gain control of our attention and gain a grasp on key market segments. Some are doing it through infrastructure, some through content and other through devices. Does anyone remember the movie Minority Report with Tom Cruise? Remember the people walking around and companies like Gap displaying specials personalized to you and calling you by your name? Well, we have finally caught up to that technology so to speak. A small company called Shopkick as well as others like foursquare have created a location based software for smartphones that offers promotions based on your relative distance to various participating stores. They also offer virtual dollars for just entering specific stores with deals on. Amazing for some people and not so amazing for others. One thing is for certain though, it is amazing for marketers.