The world of marketing and emerging technologies like Metaverse, Blockchain, Artificial intelligence, and machine learning are intertwined in more ways than one. Today, companies first invest in metaverse development services or other such services and then move towards marketing to make sales and get profits.
In the latest interview, Mr. Felix Cao, The Founder of Happy Buying Brain, sat with us to talk about the ins and outs of marketing in today’s world and how the new technology is revolutionizing the industry.
Read the full interview below!
Gurpreet: Hello, thank you for taking time out for the interview. To start, can you please take some time to introduce yourself to our audience?
Felix: First of all, it’s a pleasure to meet your audience. I think you’ll get a better idea of my love and passion for tech and business as you continue reading, and I hope some of the things I share inspire you or serve as actionable content that can be used in business or everyday life.
A little background about myself - My entrepreneurial journey has spanned nearly 20 years and has touched on everything from finances, investments, and, most notably, technology.
The bulk has been in the tech world, where the true love for tech started in 2009 with the growing adoption of mobile in our everyday lives. Couple this with the love for psychology and marketing, and this becomes a fantastic spark for venturing into the Web2 space and now into the new and exciting Web3 world.
Currently, my marketing company called, Happy Buying Brain, helps businesses of all sizes and in all industries. While working with tech companies is still very important to us, the core focus moving forward will be to help Crypto and Web3 development services providers reach new users and increase the adoption of their products and services to a wider audience.
What’s also exciting is that we are seeing a lot of Web2 companies looking to venture into Web3, and our goal is to be at the forefront of helping these companies transition into Web3.
Gurpreet: How did you decide to work in the world of tech?
Felix: What the world of tech has shown me is to always be open to new ideas with a curious mindset and that no matter how much we think we know about something, there are always new and different perspectives that we can learn.
Here’s what I mean about the part of being open to new ideas with a curious mindset. If we met 20 years ago, you would find someone with very little interest in tech. In fact, our conversation would revolve around topics involving science, biology, and psychology instead.
However, I had a friend that was into tech and was entrepreneurial-minded, that introduced me to this new world of tech and business. Luckily, this opened the doors to exploring something so radically foreign to me at the time that all of this was only possible because of the mindset to be open and curious about new things.
And since tech is always changing, it creates an environment where you have to be constantly learning, which makes things incredibly exciting.
Gurpreet: What was your intention behind starting your company?
Felix: There is a big gap in knowledge when it comes to how consumers and end users make decisions when it comes to purchasing products/services and how they choose to be loyal to one brand versus another.
The traditional way of marketing does not focus on what’s actually occurring in the brain of their consumers. Without understanding how consumers process information at the brain level, it is much more difficult to create a roadmap of the marketing strategies needed to maximize the user experience from start to finish.
For example, 95% of consumers and end users make their decisions at the subconscious level, which correlates to how the brain functions at the primal level.
So, at my marketing company called Happy Buying Brain, we show companies how to create uniqueness around their brand and craft their marketing strategies that tap into the primal brain, which is part of the brain that drives most of the decision-making process when it comes to purchasing products/services and building true brand loyalty with their consumers.
Gurpreet: The unstable nature of cryptocurrencies is causing doubts in many investors’ minds. What are your thoughts on the matter? Is there something to be worried about? And how can the companies get the investors' trust back?
Felix: In my opinion, cryptocurrency is going through what it needs to in order to become something that will be publicly accepted in the future. This is a maturation process the state of crypto is undergoing as clarity for regulations begins to enter the crypto framework in terms of how it is to be integrated into our everyday lives, where there is a healthy balance between protecting the public and ensuring that innovation continues to occur in the crypto space.
Also, the way that Web3 is currently structured, crypto is a main pillar in the evolution of this new movement. So as crypto goes through this maturation process, we should expect to see more countries adopting crypto moving into the future.
Just like how any company gains and maintains the trust of its consumers, the company must be able to deliver on what they are offering and have the best interest of its users in mind.
It will be interesting to see how regulations will impact crypto and how crypto development services companies operate in the future.
Gurpreet: How are the new technologies changing the way businesses market?
Felix: From what I see at the moment, the 2 biggest technologies that will have a profound impact on our everyday lives are the deep integration of artificial intelligence (AI) and machine learning (ML). These 2 technologies will affect our personal lives and work lives in ways that we could only imagine happening in the movies.
For example, it would not be surprising that one day in the near future, we will become close friends with an AI product (such as a robot) or even do business with an AI program, where once upon a short time, would have been a human-being sitting across the table from us to discuss the details of the deal.
However, I believe the biggest impact new tech will have will be in the virtual world. The Metaverse solutions will create opportunities for connecting with people that are magnitudes beyond what we are experiencing today in the online world.
For example, you’ll be able to travel anywhere in the world in the Metaverse and feel things as though you are actually there in person.
With this in mind, businesses can market their products and services to create unforgettable experiences for their consumers by leveraging AI and ML and preparing their brands to deliver the best experiences when the interactions between businesses and their consumers predominantly occur in the Metaverse in the near future.
Gurpreet: According to you, what is the importance of digital transformation for organizations?
Felix: Digital transformation empowers organizations with the ability to analyze, process and implement data more efficiently and effectively. A large part of making this happen is by making sure an organization has the right automation framework integrated into its workflow for achieving organizational goals.
As a result, I believe that Web3 and blockchain will have a tremendous impact on the digital transformation of today’s companies, where they can employ smart contracts to direct the automation process within an organization.
Couple this technology with artificial intelligence (AI) and machine learning (ML), and it creates a game-changing opportunity for companies to dramatically improve their marketing and advertising strategies, tracking systems (inventory), communication flows, analyze data and conduct research much quicker and efficiently.
The overall impact of what we call Web3 digital transformation enables organizations to operate much more efficiently and, most importantly, deliver their products and services in new innovative ways that keep consumers coming back to them.
Gurpeert: How do you change the marketing strategies based on emerging technologies, like blockchain being used?
Felix: The central theme of blockchain, crypto, and Web 3 is decentralization. As we have seen in Web2, consumer data and access to certain services and products are controlled by centralized organizations.
We are starting to see a shift in Web3 as more people are becoming aware that their information and accessibility to products and services are being controlled by intermediaries. And the core mission that binds the Web3 community together is fueled by the goal of shifting some of that power back to the users.
This movement in shifting the power back to the people is called “Peer-to-Peer” interactions, where users can gain access to information, products, and services without having to get permission from a 3rd intermediate party.
So, in terms of marketing at the time this is written, it would be a sound idea to include this theme in the marketing messages for emerging technology companies.
Another thing to consider is how artificial intelligence (AI) and machine learning (ML) will impact businesses, and the advancements in AI and ML can certainly be used to improve marketing as well.
Gurpreet: Do you think that the marketing team needs to be included in the design part of the software? Why?
Felix: Marketing is the bridge that connects a company’s product or service to its consumers, which in the world of tech, are more commonly referred to as the end user. So, in order to make the user experience as best as possible, it would make sense to have the marketing team included to some extent in the design or development process of the software.
This way, there can be an integrated approach to creating a product where the UI (User Interface) takes into account the functionality side of things made possible through the design/developmental process and merging this with the practical side of things when considering the usability of the product for the end user.
The goal is to strike a healthy balance between the function/performance of the product and how easy, frictionless, and enjoyable the product is for the end user.
By having the design/development team work in unison with the marketing team, the outcome is a better overall user experience with not only the product or service that the end user interacts with but also a much more memorable brand that remains top of mind for their consumers.
Gurpreet: How do you utilize the consumers’ emotional buying habits to gain better results?
Felix: I think most people are familiar with the saying that people buy based on emotions and justify what they buy using logic. However, we also need to take into account the impact of how social context influences people’s purchasing decisions since it is very rare for us to make a buying decision in a vacuum.
Humans are tribal creatures, so it’s important to understand that other people’s behaviors and what they say will have an impact on our actions. So by consciously implementing marketing strategies that tap into this social context concept, companies can create an environment and user experience that greatly heightens the overall emotional connection that creates unbreakable bonds between consumers and their brand.
Gurpreet: Do you have some tech-related book or podcast recommendations for our readers?
Felix: With everything moving towards Web3 (which, in my opinion, encompasses crypto, blockchain, AI, and ML, all of which will ultimately come together and evolve into the Metaverse) - a really good book for people looking to learn more about this space is “WEB 3: What is Web3? Potential of Web 3.0” by Patrick Ejeke.
This book provides a fantastic entry point for people who want to understand the basics and fundamentals of Web3, where Patrick Ejeke does an excellent job distilling the information in an easy-to-understand way.
In terms of podcast recommendation, The Business Method podcast, hosted by my friend, Chris Reynolds, is valued and packed with high-caliber entrepreneur guests that share their stories and wisdom, which is incredibly inspirational.
Gurpreet: Where can people go to find out more about you online?
Felix: You can find my LinkedIn profile here- https://www.linkedin.com/in/felixcao-happybuyingbrain/
We hope you found the session interesting and actionable. You can also reach out to Felix Cao for any more questions and queries.
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