Bonin took us on a journey into the world of “Hackonomy” – his platform that highlights an increasingly important need to “break things” in order to create value. So what is a Hackonomy and how can we apply this principle to media?
The future is digital. Today, 24% of media is consumed on mobile, yet only 1% of media is purchased there. With more Android devices activating each day than there are babies born, it’s clear the growth of smartphones are changing our society. Even with all the lip service paid to innovation, change is merely incremental. The real question, Bonin argued, is: how can organizations train their talent to compete in a completely digital future? It’s about encouraging them to rethink mobility, break things, engage in real-time, invest, and focus on mobile culture.
We are entering a world of “Hackonomy.” A hacker is an expert at programmatically solving problems; they don’t hit a wall and stop trying; they break right through it. That mentality is truly transformative and adds greater value to business. Hugh Herr, who lost both legs in a rock climbing accident, engineered bionics that have allowed him to surpass his previous climbing skill. By tearing things down and building them back up again, we’re starting to hack some very basic things, which can lead to hacking bigger things in not only our industry, but also the world. The best way to predict the future is to hack it!
How can media professionals hack the industry? Through the allocation of resources, agencies should prioritize the development of high-velocity content that reaches consumers in real-time. All brands create content, hoping someone sees it, but according to Bonin, that’s lazy. CPG brands need to start behaving like startups and embrace the concept of being an “intrapreneur” in order to succeed in today’s fragmented media marketplace.
Presenter: Bonin Bough, VP Media & Consumer Engagement, Mondelez
Q&A Moderator: Andrew Snyder, Yahoo