How quantum marketing will change our lives — For good | Raja Rajamannar | TEDxNashville

The Current State of Marketing and the Need for Change

• Growing up in India, the term "marketing" was often associated with the local market and was seen as a joyful experience of buying new things, trying new tastes, and interacting with friendly shopkeepers (19s).
• Today, people are bombarded with an average of 5,000 commercial messages every day, making it impossible to process them, and often feeling intrusive, trapped, or creeped out (1m18s).
• The current state of marketing has led to a bad reputation, with practices such as deception, misleading, and manipulation, which can be frustrating for consumers (2m41s).
• For example, watching videos can be disrupted by ads, and even if a "skip now" button is available, the experience is already ruined, and in some cases, two ads are shown, with the first one being unskippable (3m1s).
• Paying for ad-free content can feel like blackmail, and as a lifelong marketer, it's clear that this is not what marketing is meant to be (3m55s).
• Quantum marketing is a new paradigm that puts the consumer at the forefront, with companies understanding their needs and wants in a smart way, making relevant and compelling offerings, and communicating transparently and effectively (5m3s).
• In quantum marketing, companies engage with consumers in a very effective fashion, which may sound utopian, but it's a new era of marketing that is emerging (5m35s).
• Consumers around the world are demanding a new approach from companies, and if they don't adapt, they will be left behind (5m50s).
• Quantum marketing challenges every established theory, principle, foundation, and strategy of classical marketing, reimagining it in a new and exciting way (6m1s).

Quantum Marketing: A New Paradigm

• Quantum marketing is a new paradigm that puts the consumer at the forefront, with companies understanding their needs and wants in a smart way, making relevant and compelling offerings, and communicating transparently and effectively (5m3s).
• In quantum marketing, companies engage with consumers in a very effective fashion, which may sound utopian, but it's a new era of marketing that is emerging (5m35s).
• Consumers around the world are demanding a new approach from companies, and if they don't adapt, they will be left behind (5m50s).
• Quantum marketing challenges every established theory, principle, foundation, and strategy of classical marketing, reimagining it in a new and exciting way (6m1s).
• Quantum marketing leverages multiple areas, including technology, innovation, data, analytics, and various sciences, such as color psychology, while also understanding economics and being grounded in humanity (6m25s).
• The goal of quantum marketing is to create a personal, empathetic, relevant, inspiring, and joyful experience for consumers, whether from a small shop or a large multinational company (7m33s).

The Evolution of Marketing Paradigms

• Marketing has evolved over time, learning from its previous experiences and building upon them, with four distinct paradigms: product, emotions, one-to-one marketing, and now quantum marketing (8m5s).
• The first paradigm of marketing focused on creating a fantastic product, packaging it attractively, pricing it reasonably, and making it widely available (9m0s).
• The second paradigm of marketing discovered the importance of emotions in driving consumer decisions and choices, leading to emotional marketing (9m55s).
• The third paradigm of marketing emerged in the mid-1990s with the advent of the internet, enabling one-to-one marketing and the use of data analytics (10m25s).
• Archaeologists have discovered evidence of marketing dating back over 2,000 years, with posters for political candidates found in the ruins of Pompeii (8m28s).
• Marketing is not a new craft, but rather one that has evolved over time, with each paradigm building upon the previous one (8m22s).
• With the rise of digital marketing, companies can now target specific individuals who are most suitable for their products or services, measure the effectiveness of their campaigns, and make data-driven decisions (11m8s).
• The launch of smartphones and social media in 2007 marked the beginning of the fourth paradigm of marketing, where people's lives became heavily influenced by these technologies (11m39s).
• Smartphones have become an integral part of daily life, with people checking their phones an average of 300 times a day, and social media has enabled people to connect and interact with others worldwide (11m52s).
• The rise of mobile marketing, social media marketing, and influencer marketing has transformed the marketing landscape, making life more interesting for marketers (13m8s).
• The world is now on the verge of the fifth paradigm of marketing, known as Quantum marketing, which will be driven by over 24 powerful technologies, including artificial intelligence, augmented reality, and the Internet of Things (13m26s).

Quantum Marketing and Technology

• These technologies will dramatically alter people's lives, making marketing more personalized and effective, with the potential to become a personal assistant that senses and meets individual needs (15m2s).
• The increasing amount of data being gathered from connected devices, such as toothbrushes, scales, and toilets, will play a crucial role in Quantum marketing, although it also raises concerns about data privacy and security (14m28s).
• The accumulation of data from various devices will enable marketers to provide more targeted and effective services, but it also poses risks, such as data breaches, which can have serious consequences (15m50s).
• With the rise of data breaches, personal information such as birth date, age, and address is now publicly available, and individuals are often left to monitor their own data security for a fee, which can be infuriating (16m1s).
• Quantum marketing is changing this by advancing procedures and methodologies to the point where personally identifiable information is no longer needed for targeted marketing, instead using precise data slivers required for a particular context and need without linking it back to the individual (16m44s).

The Tenets of Quantum Marketing

• The first tenet of quantum marketing is that privacy is sacred and cannot be compromised, with data security being vital, and companies will have no choice but to follow this principle due to technological breakthroughs (17m18s).
• The second tenet of quantum marketing is consumer economics, where individuals are bombarded with 5,000 messages daily, and their span of attention is shrinking, with the average human attention span being less than 8 seconds (18m5s).
• In the future, brands will pay individuals for their attention, and people will have the right to give permission for ads, choose the type and frequency of ads, and receive payment for viewing them (18m43s).
• The third tenet of quantum marketing is multi-sensory marketing, which involves creating immersive experiences that tap into all five senses to create the right feeling and emotion, shifting from advertising and marketing strategies to experience-led marketing strategies (19m37s).
• Quantum marketing will bring a significant pivot in how brands interact with consumers, where consumers will fall in love with a brand without needing to talk about the product or service, facilitated by the brand itself (20m32s).

Brand Trust as the New Currency

• The most foundational and fundamental tenet of quantum marketing is brand trust, which will become the new currency for marketers, replacing attention (20m51s).
• Currently, 85% of people who buy and use brands do not trust them, making them likely to switch to another brand, despite marketers spending over a trillion dollars annually on loyalty programs (21m11s).
• To earn trust, brands will focus on transparency, data security, and doing social good, with 80% of people expecting brands to contribute positively to society (22m6s).
• Brands will need to demonstrate a true sense of purpose and commitment to social good over the long term, rather than just doing it for political correctness or opportunistic situations (22m40s).

A Successful Example of Quantum Marketing

• A Payment Solutions company provided a successful example of quantum marketing by creating an app called "Where to Settle" to help Ukrainian refugees settle in Poland, which earned the company a significant amount of trust and brand love (22m53s).
• The app, powered by artificial intelligence and data analytics, helped refugees find jobs and settle in Poland, with one out of five Ukrainians who settled in Poland using the app, and the Polish government adopting it as their own (23m42s).
• This example demonstrates how quantum marketing can make a true and lasting difference in people's lives, opening doors for new opportunities and earning trust and brand love (24m54s).

The Impact of Quantum Marketing

• Pursuing one's purpose passionately is key, as profits will eventually follow in the realm of Quantum marketing (25m30s).
• This approach differs from traditional marketing, where the focus is not solely on pursuing one's purpose (25m37s).
• Quantum marketing marks the beginning of a new era that is expected to have a positive impact on everyone (25m41s).