Shane Russell, CEO, of Havas Red Australia – gazing ahead, looking back, and revealing the fate of the New Year’s resolution for 2023.
Looking Ahead
What are three trends to look for in the coming year?
1. The surprising upside of Artificial and Human Intelligence
Much has already been said about the threat that AI poses to some areas of the creative and communications industries. But AI is still a long way off replacing the very best original ideas or intuitive thinking, and those who don’t embrace the alliance between human and artificial intelligence will fall considerably behind.
Where AI has a bigger calling in 2024 is in the fight to slow down the destructive spread of mis-and-disinformation online. The algorithms, platforms, and people that enabled the dismantling of truth will begin to institute new measures to help us parse fact from fiction. AI must succeed – humanity and public discourse is relying on it.
2. Life will go back outside the algorithm.
Australians are spending the equivalent of 30 days, or 730 hours a year, inside social media algorithms. That means social platforms have replaced all other channels as a fundamental source of entertainment, relationships, commerce, and news for billions of people.
But after years of living indoors and online we’re seeing signs that consumers want to return to simpler times. On social, some of the hottest trends of 2023 centred around 90s nostalgia, off-grid travel, and childhood passions. Those trends are now showing up in the real world, which is where brands have an opportunity to engage consumers with the same level of experiential flair that they’ve been delivering online.
3. Personalisation will become a journey not an end point.
To optimize personalisation, consumers will need to trust brands more. That sounds counterintuitive but personalisation as it stands isn’t working because the value exchange isn’t level.
Many brands treat personalisation the same whether you’re a new prospect or you’ve been a loyal customer of 10 years. We all want a customised experience, but that’ll depend on how much information and trust we’re willing to give up. According to Havas’ Meaningful Brands research, we’ve now entered the era of the Me-conomy and it’s all about ‘me’: my needs, my wellbeing and what brands (among others) can do for me. This is also true of employees who also crave personalised learning and development.
“Australians are spending the equivalent of 30 days, or 730 hours a year, inside social media algorithms. That means social platforms have replaced all other channels as a fundamental source of entertainment, relationships, commerce, and news for billions of people.”
What consumers want when it comes to personalisation depends on where they are in the journey—it’s like dating: consumers don’t want to share everything from the get-go. So, as more people crave a personalised experience across every touch point with a brand, we expect to see more brands and businesses re-think their approach from a one-size-fits-all approach to creating customised journeys based on where that consumer is in their relationship.
Looking Back
What was your 2023 New Year’s Resolution and did you keep it?
To take several big bets in my professional and personal life that made me uncomfortable.
After a decade living and working in New York – the centre of the media and cultural world – Australia was calling us home. This meant moving to Sydney for the first time, embracing a new city, community, schools, house, and company (Havas Red).
Taking risks in all areas of my life has been incredibly challenging but equally rewarding, and I’m ready to embrace everything in the role and our new life in 2024.