On day two of Goafest 2011, Brian J Terkelsen, president, LiquidThread, Starcom MediaVest Group shared his thoughts on the evolution of marketing and how brands and agencies need to adapt to the changing dynamics.
Noting that television is big in India quite understandably, Terkelsen highlighted that digital as a medium is picking up over the last few years. “The growth is for real, and people in the space are talking extensively about it. There is no doubt that it is here to stay,” he added.
Pointing out that advertising is about creating impact, he added, “More the impact on consumers’ mind, the more you have succeeded in your communications.” Terkelsen went on to share examples of effectively using platforms such as mobile and digital to engage consumers.
He compared the example of product placement by Coca-Cola using American Idol where they placed branded cups on the desks of the judges as ‘Content 1.0’ where content was a message, and AT&T asking consumers to send text messages which created an action as well as generated revenues as an example of ‘Content 3.0’ where content is considered as retail and where innovation collides with RoI. He also shared the examples of Pampers Wall of Sleep in Indonesia and Nike+ as great examples of brands engaging with their consumers.
Listing out the three simple truths that aid in engaging brand communications, he said, “Firstly, there is no such thing as a value addition. Nothing is available for free. Secondly, if it’s worth doing, it’s worth paying for. And finally, agencies and clients will have to fund innovation for future returns.”