🗿 Vibes over KPIs

GM. Just wanted to start by saying Grok 2, with basically is completely out of control. Our favorites so far:

Today, we’re talking automation + marketing.

Without Further Ado. ☕ *knuckle cracks* ☕ Let’s get into it.

AI marks the end of data-driven marketing

A few weeks ago, a 25+ year brand executive at Nike wrote a lengthy op-ed about the shortcomings of Nike’s brand strategy in the past few years.

It’s a symptom of a larger issue among Fortune 500s... brand marketing and narrative storytelling has taken a backseat to performance-led marketing, data-driven insights, and loyalty programs.

In a world where technology can make finding the right customer (or finding the right brand) an automated, inevitable process, brand awareness and perception become the important KPI.

Optimizing customer loyalty, hyper-targeting users, and maximizing retention and engagement through retail innovation can be a revenue strategy. For example, Cartier noticed 1-1 covid-era appointments skyrocketed conversion rates, so they adopted it permanently and doubed their sales. But it’s not a long-term growth strategy.

Nike hasn't produced a historic brand campaign since 2018, and it's losing its sparkle (the numbers prove it).

Global brands operating in the "sea of sameness" must stand out with innovation and creative storytelling to drive a difficult-to-measure KPI called brand equity.

You can't precisely measure how humans feel when they see your brand. But it's real, it influences decision-making, and it drives demand.

Another quick example:

Alo Yoga isn't an inherently better product than Lululemon, but they are starting to capture market share because they are aggressively targeting local events and creators aligned with their customer.

There is no direct exchange of value from hosting a yoga event in the Hamptons or Ibiza. If the marketing team had to justify every dollar spent to drive quarterly profit, it would be near impossible to show.

But over time, Alo will certainly win the hearts of athleisure enthusiasts because they are active and present. Their brand has a hearbeat.

Brands struggle to inspire

More global brands should wake up before its too late and recognize that staying "lean" on marketing by enhancing customer loyalty and optimizing programmatic advertising is not a strategy that can last forever.

You have to be willing to take a stance and stick your foot in the ground and build something that doesn't just encourage repeat behavior, but inspires people, encourages them to break from their routine and try something bold and new.

I predict a brand marketing renaissance. As technology helps us solve the unused data problem, marketers will drop data-chasing and become full-time storytellers. Creativity will be the most in-demand skillset.

What We’re Reading

• Fortnite is back on the iPhone — with a whole app store in tow

• Ripple’s Case Bodes Well for Other Crypto Companies Battling SEC

• US Consumer Sentiment Increases for First Time in Five Months

• Musk's Grok bot generates AI images with few limits

• California weakens bill to prevent AI disasters before final vote, taking advice from Anthropic

• Driver’s licenses and state IDs in Apple Wallet are coming soon to California

• Crypto Hacks Double to $1.6 Billion as Prices Jump, Report Shows

• Google’s AI Search Gives Sites Dire Choice: Share Data or Die

• Artists Score Major Win in Copyright Case Against AI Art Generators

• Wyoming reporter caught using artificial intelligence to create fake quotes and stories

• Russian defense plan kicks off separate AI development push

• Every Norwegian now indirectly owns $27 worth of Bitcoin as sovereign wealth fund ups crypto stake

• Goldman Sachs jumps into bitcoin ETFs and one hedge fund gets bullish on miners

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