AdAsia 2023: 40 pc of IT budget is just in keeping up with tech – Stephen Moy, Barbarian

How do brands win and disrupt?

Web 1 was ‘read’ internet. Web 2 opened new participatory avenues. Web 3 promises decentralised power.

What does Web 3 mean for the future of marketing?

It's all about data. Customer mindset should be a boardroom priority. The new customer journey should be less linear with countless touch points and the omniverse. You have to stand out faster. You just have 8 seconds to connect with Gen Z's who are 50 per cent of the audience these days.

Digital-enabled communities are the new battlefields. You will have real time feedback. Community is all important. Keep up with culture and new technologies. 40 pc of the IT budget is just in keeping up with technology.

Winning tech companies have direct relationships with their customers. Winning tech companies use data to build communities, commerce and relationships. Direct to consumers is imperative. Disruption starts with unhappy customers, not technology. It opens up opportunities to innovate.

Creativity drives commerce and loyalty. It is a true differentiator in this digital world. DE&I is the new foundation for any meaningful innovation. You need to be obsessed with surrounding your customers with value.

And so the digital onslaught continues unabated and conferences like these provide some glimpses into how it can be understood and deciphered.

(The author is a delegate at AdAsia 2023. He holds a Global Double Masters from the London School of Economics and University of Southern California and has 2.5 years of digital marketing experience. He is passionate about brand and product marketing, and hungry to tell meaningful brand stories.)

Published on: Thursday, October 26, 2023, 01:10 PM IST