Chris Schaumann has put together this excellent presentation on digital branding, with a particular focus on the Asia region. There are some great statistics peppered throughout, including the fact that there is only an average 5% spend on Internet advertising in Asia Pacific (Australia maxing out at 12.2%). But when you consider that 65% of all marketing spend in 2007 had NO effect on consumers and that 86% of consumers don’t believe what brands say about THEMSELVES, then it starts to make sense.
Clearly, brands can no longer EFFECTIVELY represent themselves. And with 78% of consumers believing what "other consumers" say about brands, the rise of consumer generated content/comment/analysis will have an impact on the Future of Your Brand. I particularly like the way that Chris breaks down the "new marketing model" into:
- Transactional marketing
- Relationship marketing
- Experiential marketing
But I would add a fourth element — conversational marketing. This is the marketing that is done ON YOUR BEHALF by consumers to other consumers. And while it is much less controllable, it is certainly "authentic". Will it bring the love back? Only time will tell.
Tip of the hat to Geert Desager.