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Greg Daniel AM, national practice leader of KPMG SR7, discusses how social media has changed the way people respond to advertising and PR.
In 1997, direct marketing guru Lester Wunderman talked about a new definition of brand: “It represents a cluster of consumer needs. It is each customer who is becoming a brand. I am a brand – and each of you is a brand.”
At that time, he said there were 260 million individual people brands in the US alone. More than 15 years later, the rise of social media has seen Wunderman’s prediction become a reality – in ways no-one expected.
This new reality represents the biggest single opportunity the PR industry has ever had – at the expense of advertising.
According to Nielsen, only 16% of people are influenced by advertising they see on the Internet while 84% are influenced by what people tell them on social media. While the growth in online advertising is dramatic – it is still advertising!...
Word of mouth carries a powerful marketing and PR punch.