Over the last 40 years advertising has evolved from the one-way, advertiser-to-recipient model to today’s age of interactive relationship marketing. What lies ahead for this dynamic industry?
At Harvard Business School’s Centennial Business Summit, a panel of experts saw advertising continuing to evolve in very dramatic ways. You can read a recently posted summary and video of the presentation on the HBS Centennial site.
Among the key changes the panelists are observing:
- From linear to liquid. Traditional marketers followed a linear path executing clear and well-orchestrated programs and structured campaigns. But thanks to devices like TiVo, people today decide what and when they want to watch. “As a result, there is a shift from the linear approach to a ‘liquid’ approach,” according to the panel summary. “In this nonlinear, fluid approach, marketers are more flexible and reach consumers in a wide variety of creative ways, including via digital media.”
- From authority to community. A shift is taking place from “authority” brands to “community” brands. “Previously, the goal of every brand was to build authority. But today people don’t trust authority in government, religion, or brands; they trust other people—other members of a community. Thus, there has been a shift from authority to community.”
- International focus. A key trend for marketers is to look internationally for growth. Some companies are doing this well; many others have a steep learning curve ahead. “Marketing internationally can be very complex as every country and culture are different. It is challenging to find an idea that is simple enough to connect with different consumers around the world.”
Panelists included Ann Fudge, former Chairman and CEO, Young & Rubicam Brands; Francis Kelly, MBA 1983 CEO, Arnold Worldwide; David Kenny, CEO, Digitas; William Fung, Group Managing Director, Li & Fung Limited; and Marjorie Yang, Chairman, The Esquel Group.
From time to time we’ll be visting the 30 or so other panel discussions from the summit, with subjects including terrorism and other global health threats, real estate, leadership development, energy resources and global ethics.
