Sir Martin Sorrell, CEO of WPP is now building his company’s growth strategy around digital – the new media as he calls it. Here he shares key insights on how the new age client is evolving, and how an agency can help them in marketing using the new medium. We bring you some points you can use:
The new clients
The clients are difficult now. The balance of power in companies has shifted. In 2013 clients will start investing in brand marketing to maintain market share. The retail segment has become much more powerful. While there is a growth of MNC or national retailers, we will see a growth of proximity retailers. It poses a challenge to the bog box retailers and MNC manufacturers. They have to be more aggressive in marketing. The big initiative for them will be shopper activation. The focus should be on shopper marketing. The retailer should be the partner who engages in this
Going to market
Look at new markets. The focus should be how to grow in those markets which have a demand for your products. The fast growing markets should be in your radar. To get to them application of technology is important. Harnessing big data can help a brand go a long way in a new market. Big data is nothing but coordinating the data into usable formats.
Look at new media
It is the digital medium in all its guises. The best example is Google. It is an incredibly sophisticated company with immense strength in all the five areas including search, display, video, social with google+, and mobile. These are the areas a brand should focus on when devising a digital media strategy.
Usefulness of Facebook and Twitter
Facebook is not an advertising medium. It is a great branding medium. You cannot deny its power when it comes to branding. Facebook is rooted in social, trying to go mobile. It should just relax. As an entity it is like the third largest country on the planet after China and India. Facebook has more than a billon user; so, it is a powerful tool to get people talking about your brand. Twitter on the other hand is much smaller but it’s an amazing PR tool for spreading the brand message. Google is the best search tool today.
Spreading the brand message
We are the intermediary. We manage a USD 72 billion portfolio of media. We believe that it is our duty to guide our clients through various forms of media. Google, Facebook, Twitter are all media companies masquerading as technology companies. We do have a role in how much a client should spend ad where.