CES 2021
Buzz Knight
Every year in January, 170,000 of our closest friends descend on Las Vegas for the Consumer Electronics Show for a glimpse of the future. It’s an event that over the years has been attended by many in the radio business as we grapple with current conditions and the future threats that we face.
This year, because of the pandemic the event was virtual for the first time, and it was still jam packed with much to observe. Big trend growth not surprisingly came from products in and around the pandemic and digital health-care. LG as an example has a line of wearable air purifier technology to meet the needs of the current crisis. In the Digital Health arena there are many products that use Artificial Intelligence to monitor health vitals and assist people in navigating health solutions. It will be interesting in the future to see if the FDA blesses these products or not.
So what can radio takeaway from the event that could be valuable to incorporate in future game-plans?
- Listen to your employees and listen to your customers. Radio is very aware of the importance of the best possible “feedback loop,” but sometimes only utilizes this in times of urgent need. Keeping your ear to the ground thru thick and thin will improve your output and keep your brand strong. Many companies that were on display at CES such as Best Buy, Accenture, General Motors, Samsung and many more were able to focus and direct their energies in the right place to come through this crisis even stronger. Additionally, these companies kept a good eye on their own work-force so their employees were able to feel safe, productive and valued.
- Digital Transformation became a necessity. If you were not convinced that digital is a priority for your business, the pandemic showed, via the technology sector, that it was mandatory for survival. More than one CEO that presented at CES 2021 said, “Because of the pandemic, digital was forced upon us.” When conditions strike, get everyone onboard with your mission so you can keep up with the world.
- Partnerships can be a key opportunity for growth. Every year CES showcases the value of partnerships to maximize the opportunity for brands. One example in particular this year is the General Motors partnership with Fedex Express with their delivery service initiative. Over the years there has been many examples of one plus one equally three. Radio needs to explore opportunities for partnerships that are both conventional and unconventional.
- Personalization is a theme that needs to be more frequently explored for the radio business. Technology brands take the position they need to meet their customers where they want it, when they want it and how they want it. Automotive brands such as Ford and Mercedes Benz are all about delivering what the consumers want rather than force feeding what THEY want to deliver. Radio needs to explore ways to put the listener in charge via personalization.
- Leadership in technology companies frequently finds ways to evolve and grow their methods to lead. These leaders find specific purpose that guides their company’s soul. These leaders seem to communicate with each other so they can learn from each other and grow. They practice inclusive leadership traits such as vulnerability, empathy, courage and grace. Radio leaders can learn from these practices as they adapt to the changing times.
Every year, one of the key takeaways for the radio business relates to the automotive sector and radio’s place in that ecosystem. When we see multiple car company examples such as Mercedes Benz and their Mbux-dash entertainment unit we are reminded that attention is up for grabs in-car. This needs to reinforce to us that great content is CRITICAL to keeping listeners engaged. We can not diminish the importance of what this means or else everything we fight for is lost. CES scares us for the future…and we need to properly react in the present!
