On the final day of Goafest 2016, Carter Murray, Worldwide CEO, FCB spoke on the topic ‘Surviving and thriving in a time of intense change’. He pointed out that our survival lies in listening, but in today’s hectic life, where we are in a rush to deliver, we forget to listen. He also spoke about how digital consumption is redefining the marketing game.
Citing figures from a study done by CISCO he said, “90 per cent of the internet traffic will be video-based. Thus, there has never been an interesting time for marketers to be in." Referring to data on how we are moving towards digital, he stated, "there are 60 trillion web addresses, 4 million apps, and 3+ billion searches per day. On Google, with 0.5 second delay (on a search) there will be 20 per cent drop in traffic. Amazon on the other hand, with 0.1 second delay sees a 1 per cent drop in sales. Also an average person sees mobile at least 150 times a day. We need to understand the real time world we live in.”
He added that the advertising industry was today competing with people who only go into business when they see a growth multiple of 10x, and suggested an approach that uses breakthrough technology to create radical solutions, thereby solving challenges.
Murray further pointed out that marketers and agencies need to work towards making things a little better; there is no need to think differently. Different doesn’t always have value, better does. There is a lot to improvise upon, never think that the importance of a creative or a brief is finished.
He categorised advertising work into three segments; 'Hero', work that is memorable and earns the brand glory, 'Hub'-- work where consumers and brands can participate, and 'Help', that aims at being useful, delivering what the target market is seeking.
Explaining how brands handle their moment of crisis, he elaborated, “In the age of social media, it is not possible to hide anything. You need to engage in open conversations, it is always better to stand up apologise and say-- we will try and be better the next time. In the moment of crisis, the creative always needs to have values and stand for it.”
In conclusion he said, “We have to start being aware of fake prophets, change is happening but instead of freaking out and trying to incorporate every change, the marketing community needs to believe in 'their instincts' and 'data'. He also added that 'most marketers use data for only 6 per cent of decisions. For everything else, they believe in intuition."