HOW WILL MARKETING &BRANDING BE RE-IMAGINED IN A DIGITAL WORLD IN TERMS OF BUSINESS SCOPE

I was in a panel discussion recently and this question was popped up to me .Great Question about the future of Marketing and Branding and what will be required in the fraternity as the single most currency.Sharing my view here for more views on this platform

• The most impactful word in the planet is going to be TRUST (Trusting Governments ,Trusting Media ,Trusting Agencies,Trusting Clients ,Trusting Companies,Trust by countries,Trust by sector,Trust by Business )-Trust is dropping year by year and a Trust deficit is evident
• The second most impactful word in the planet is going to be DATA(Data is transforming lot of business Conversations ,Data is creating opportunity and Value because it allows for Business Outcomes rather than Business Outputs -Allowing us richer view of people and relevance of communication.Media ,Marketing &Branding in this form will become the sensor for all Marketing relationships
• But ,if we are becoming more relevant ,why aren't consumers trusting us ?Ad-blocking is costing the Industry world-wide $40 Billion,ie 14% of the Global Ad spend. Targetted ads are being found creepy .Why is this happening?
• Strange ,we are adaptable ,personal and targetted to give value to the customer and they block us ????

But whats interesting is that they trust people like you and me (The "Stupid Common Man") and that has a direct dotted line relationship with Social Media

(I believe 20,0000 people whom i have not seen or whom i don't even know on Trip advisor or Make my trip.com rather than what a brand tells me -Today ,in the digital world ,I don't need the brand)

THE MARKETEER/BRAND .CLIENT /AGENCY WILL IN THE FUTURE HAVE TO REIMAGINE HOW TO EARN A RESPECTABLE PLACE IN THE ABOVE ENVIRONMENT TO HAVE LEGITIMATE CONVERSATION.THAT WILL HAPPEN THROUGH TRUST

Trust has its own evolution stages :

1.Pre-Media Trust :The Church,Governments and Institutions through Bibles and Statute ordered us and we were asked what to believe

2.Mass- Media Trust:Brands made people trust brands and people were told what to do to become Macho or sensuous (Marlboro made him Macho while Victoria Secret made her Sensuous " )

3.Digital Era :Its "People to People & Experience " rather than Metaphors .It is all about Experience Economy with Communities +Communication+Influencers .

There are 8 kinds of Trusts building parameters or Metrics:

1.Competence: ("I know it will function and not let me down -ex:SWISS WATCH)

2.Reliability :("If i open the tap ,water will flow through the tap ")

3.Credibility: ("Apple loves Apple Products -Obsession with Product development ")

4.Absence of Opportunistic behaviour: (VW and Honda obsession with commitment made and recall of defective cars)

5.Transparency 6.Intimacy 7. Mutual Disclosure

6. Provenience :(German Cars (Merc ) and Saville Row Suits or Roles (inspite of not being Swiss made)

This "Trust building " goes beyond Media which will manifest in building

-Partnerships (Media and Retailers)

-Community ,Management &PR(Where to be reactive and Proactive )

-Creative and Messaging(Collaborating &building long term sustainable relationships

• Moral of the story :What use of data and data strategy if people don't have trust in you at all -Ha ha !Marketeers /Brands have to build Trust and try to carve a legit place in these conversations .