In the olden times, the medium for advertising were limited. Advertisers used the same mediums in different forms & innovatively to catch more and more eyeballs every time. Hoarding ideas like the Amul girl, powerful characters like Lalita ji were created. They became national icons. People still search and watch these old ads online and feel nostalgic.
Then came the Internet and it shook the whole advertising industry, with its cheap & expansive reach. The social media gave voice to the end-customer. Brands were made or destroyed in 140 characters or through a single video upload. The zenith of brand equity i.e. brand resonance had a medium to materialize. The cyber citizen shows his loyalty or hatred for a particular brand on social forums. Product placement in movies have also started to emerge, and people took notice of what brand Kareena is flaunting or what Soft drink is been consumed by their on-screen heroes.
Can marketers and advertisers ignore these changes? I don’t believe so. Nowadays, most of the big companies not only advertise on Facebook and Twitter but also keep a 24*7 unit to monitor the comments made by their customers online to fetch for the pulse.
It is not the strongest that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.
Only those companies will survive in this environment, which are willing to change with time & technology; transparent in their dealings and respect consumers.
Would you agree, marketers need to increase their investment share to digital world and optimize the old ways of advertising? I believe, what marketers and advertisers need to work on is conversation, not broadcast & the digital medium allows us have those conversations. What say!