Advertising is dead, long live the era of Experience: Another great 10x10 by Method Inc.
“In the last few years, the lines have blurred. The worlds of advertising and product design
are converging. CMOs are spending more on technology than CTOs. The web is more
important than TV. Digital products and services are more important than communications and messaging for customer engagement and brand creation. Two-way conversations between brands and consumers are more important than one-way, top-down campaigns. Results are measured by engagement instead of number of impressions. Nike, with a record high marketing budget of $2.4 billion in 2011, has dropped their spending on TV and print advertising in the US by 40% in just 3 years. Instead, Nike is going where the customer is, spending nearly $800 million on non-traditional advertising in 2010, and foregoing $100 million-plus campaigns to focus on online campaigns first. In a 2013 survey by Econsultancy, 55% of marketers globally are planning on increasing their digital marketing budgets this year, with 39% of them planning on reallocating existing budgets towards digital channels.”