The biggest change in marketing in the past twenty years would be the Internet,...
...it has had a disruptive influence on brands, on agencies, on business models.
We recently ran a little bit of research that said that 50% of all businesses...
...have changed their business model in the past three years,...
...but 50% still haven't.
And I think moving forward,...
...more companies will have to start changing their business models,...
...if they're gonna succeed.
I think the advent, particularly social media, within Internet communications...
...has been fundamental in the way that brands perceive themselves.
Not only as they perceive themselves now,...
...but as they need to perceive themselves moving forwards.
I think the fundamental shift has been towards consumer control,...
...and a recognition that actually consumers' demands need to be met...
...by brands moving forwards.
Gone are the days when brands can dictate what consumers want,...
...and tell them what they want.
The consumer is now heavily empowered,...
...and if brands don't recognise that, they are going to lose.
And we're already seeing it now...
...with brands increasingly starting to listen to Twitter and Facebook and YouTube, etc., etc....,
...and building them in heavily into their marketing strategies.
And understanding that actually a two-way conversation is the only way nowadays.
An example of that is there is an online brand called 'Vitamin Water',...
...and they surveyed their customers to find out what would make a great new product,...
...and they ended up coming up with caffeine and lime.
On the basis of what the customer said,...
...and that's a product that's now available online for sale.
