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Rishad Tobaccowala – The Journey towards a New Era in Marketing
Manage episode 380158881 series 3413834
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This week on The MCA Prodcast Pat Murphy talks to author, speaker, and podcaster Rishad Tobaccowala whose extensive career has covered almost every area of marketing and strategy. Rishad spent nearly four decades at Publicis Groupe, and spent time as Chairman of Digitas and Razorfish, two of the largest marketing transformation agencies in the world with over 11000 employees. He was named by BusinessWeek as one of the top business leaders for his pioneering innovation and TIME magazine dubbed him one of five ‘Marketing Innovators’.
Rishad reflects on the changes he’s witnessed in marketing and strategy throughout his career, from the shift in power from marketer to consumer, to the increased complexity of the market and arrival of hyper-personalisation. He describes the marketing industry as a fusion of poetry and plumbing; poetry being the creative storytelling and plumbing being the functional, business side. In Rishad’s view, the industry did lose an element of the poetry for a while, becoming too business-focussed, but it’s starting to redress the balance. “If you're in marketing and you aren't in the storytelling business, you're in the wrong business” Rishad says.
Rishad and Pat consider shifting mindsets between baby boomers and Gen Z; how approaches to work are changing, and how industry needs to evolve and adapt accordingly. With regards to work-life balance people used to ask ‘how do I fit life into my work-world’? Now people are saying ‘how do I fit work into my life’?
How is AI changing production and what role will it play in the future? Rishad conducted an interesting experiment when writing his new book. He wrote a chapter, used an AI model to write the same chapter, and sent both to his publisher for feedback. The results were fascinating! Rishad also considers the human factors that machines will not be able to replicate, such as our curiosity and ability to communicate and collaborate. Rishad also explains how he learns everyday in order to ‘update his mental operating system’ and why you should do the same.
Listen to Rishad’s podcast ‘What next’
Watch Rishad’s favourite ad: Apple - 1984
Hosted by Pat Murphy
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