When social platforms first emerged, brands quickly realized opportunities for new impressions, data collection, and deeper market penetration to ultimately increase sales. But unforeseen consequences of these tactics included higher rates of depression, anxiety, vast distribution of misinformation, cyberbullying, and countless other unfortunate byproducts. It’s easy to paint tech companies as the villain, but the reality is that all these negative outcomes were subsidized by brands. With the metaverse emerging as the new frontier, brands are (once again) eager to leverage their marketing potential. But this time around, brands could recalibrate strategies, refocus metrics, and manage expectations with a more ethical goal in mind. In the same way that Web2 democratized information, Web3 has the opportunity to democratize experiences.
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B2B purchasing transactions – already on a journey of evolution – are going through their most significant transformation yet. With buyers yearning for richer experiences, brands will need to reimagine traditional formulas. Think of someone who regularly interacts with best-in-class experiences (like Amazon) as a consumer. Still, once they get to work and put on their B2B hat, they’re met with dull, minimally visual websites (often about five years behind their B2C counterparts). A great example of this in the marketplace comes to life in the electronics category.
CourtAvenue’s Kenny Tomlin explains how the network will grow in a recession. The new generation of marketing services networks (they don’t like to be called agencies) that are turning the holding company model on its head include the likes of Media.Monks, Jellyfish, and more.
“The value of a brand in this age of a hyper amount of information has never been more important, and that brand must be modern. It must be rooted in purpose and appealing in terms of its base value proposition to us on a human level.” – Michael Stich: CEO of Services & Partner
For more than 25 years, Michael and his teams have helped marketers understand and capitalize on innovation. Michael currently serves as General Partner and CEO of Services for CourtAvenue. He is also an advisor and investor in various startups. Prior to joining CA in 2020, Michael led the global Dell business for WPP, and the Advisory group for VMLY&R. He has also served as Chief Executive Officer and Chief Innovation Officer for WPP’s Rockfish, a top digital agency in the U.S. Rockfish served as a Digital Innovation Partner to the world’s most forward-thinking companies, including Ford, Walmart, Mars, Johnson & Johnson, and Sam’s Club.
It seems that the social commerce arms race is heating up. TikTok, Snapchat, Facebook and Instagram have all rolled out e-commerce capabilities. And if brands want to reap any of the benefits, they’ll need to get in while the water’s warm, says Brandon Biancalani, manager of paid advertising at social marketing agency Modifly.
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