This past week, Austin hosted its annual SXSW festival. The annual conference is divided into three segments: the Interactive Festival, the Film Festival, and the Music Festival. For the past couple of years, Agency Entourage and Vaquero Advertising have made our way to Austin and participated in the Interactive Festival. We hosted an agency boat party, and then select members of the agency stayed throughout the week to attend various lectures.
Agency Boat Party
We hosted our sixth annual boat party on Lady Bird Lake this year. Representatives from our agency were there, as well as clients, friends, and an array of SMU students and their professors. It was a great opportunity to connect with our clients on a more personal level. It was also a neat way to continue to network and build relationships with new faces. We also learned that SMU professors can do more than just teach – they have quite the dance skills as well!
What we Learned
The big question this year at SXSW, prompted by Sony, was “Will technology enrich human creativity?”
(Spoiler alert: The answer is yes!)
Technology continues to evolve in 2019 and is revolutionizing the way we live and carry out business. This new advanced technology allows individuals to cut down on time spent sorting through data. This gives professionals more time to curate innovative campaigns. Some of the largest topics covered were artificial intelligence, machine learning, and predictive marketing.
Artificial Intelligence (AI) is the ability of a computer program or a machine to think and learn. Essentially, it makes computers “smart.” The introduction of AI is changing the face of marketing as we know it. Most of the technology we learned about at SXSW is actually a subset of AI.
Digital marketers today can utilize data collected from a wide range of accessible, advanced data analytics tools. Examples of these tools include R Programming and SAS. These advanced tools provide more insight into consumers, as well as how to effectively market to them. AI allows the marketer to curate a more personalized experience for the consumer since it can track what kind of specific content the consumer is most interested in. Advanced AI will also allow marketers to identify buying patterns from consumers.
Essentially, AI will save marketers time. Rather than devoting a lot of time sifting through the data collected from campaigns, the advanced data analytics tool will do that. This allows marketers more time to apply what they learned from the data, allowing them to create more effective and inspired campaigns.
Machine learning (ML) is a subcategory of AI. ML is an algorithm that essentially allows marketers to see the effects of their campaign in real-time. With this insight into customer behavior, marketers can respond to any changing market conditions by making informed, up-to-date decisions.
Being able to more accurately predict outcomes allows the marketer to identify high-value customers and discover new business opportunities.
Building off of the concepts of AI and ML, we come to predictive marketing. In the past, marketing was based off of former consumer decisions. Businesses were not equipped with resources to pinpoint potential customers. Predictive marketing changes that, though.
Predictive marketing analytics reveal traits that individuals who might be interested in your product have. J.J. Kardwell, President and co-Founder of EverString, described predictive marketing, saying, “It’s about knowing when and how to get in front of prospects so that your product is the next logical step.” Then, by targeting potential customers instead of just existing customers, you are increasing your potential revenue.
Agency Entourage and Vaquero Advertising attend SXSW every year because it constantly inspires us to evolve as marketing professionals. It teaches us about new tools that are on the cutting-edge of the industry, and how we can effectively use them in our practice. Additionally, it opens our eyes to new opportunities and allows us to foster relationships with leaders from all across the world, such as Japan, Germany, Finland, or Brasil. And that is the Vaquero spirit: to learn, to interact and to evolve.
To learn more about the Vaquero spirit, check out our website! We are driven by a high-innovative culture and a multicultural mindset. We offer a variety of services, involved with both traditional and digital marketing. As a Hispanic marketing agency, we want to give your brand the most exposure possible, and connect you on a personal level with as many potential consumers as possible. Connect with us to learn more in-depth about how we can implement our current practices and what we learned at SXSW to help your business.
Image from The Culture Diary.