Advertising Now vs. The Future with Matt Scheckner
Matt Scheckner, Global CEO at Ad Week, joined the Business of Social to talk modern day marketing, the power of influencers, and what brands should stop doing on social media.
"If you look at the power of advertising in today's world, a lot of that resides with influencers. Take Fyre Fest for example. With a big enough budget and the right influencers they were able to market that festival to millions of people who wanted to go - they made that festival seem real and on the one hand it's incredible marketing, but on the other it's a scary concept!"
Matt gives his thoughts on what brands can do to limit mistakes, the price we pay for data capture in the modern word and how to where to draw the line vs. push the envelope with your brand strategy.
Here are the highlights:
[28:00]: The Power that Influencers have on Brands:
Matt: The whole success of the Fyre Festival on the front end was all because they paid all these models and created the illusion of something that wasn’t real.
I think the danger for brands is you’ve got to sit on the foundation of stuff that is real while balancing that nee to be cutting edge to be innovative. and use the modern day tools to connect. You’ve got to connect your brand and you’ve got to balance risk and reward.