All Marketing Will Be Social: IPG's Kumar

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July 4 (Bloomberg) -- In today's Brandstanding segment, Prashant Kumar, regional president at IPG Mediabrands, discusses the rise of social economics with Rishaad Salamat on "On The Move Asia." (Source: Bloomberg)

About the advent of social media.


Can you repeat that.

-- can you repeat that?

We focus on what you do and how the brand has been ripped up by the advent of social media.


Once again, the marketplace is he coming all of that conversation and trust in advertising.

It flows through networks and that is how it is.

Essentially, what we are doing in a curious sort of way is going back to it.


The global village is being reconstituted.

Link by link and share by share.

We are going back.

The marketplace will be about conversation.

Tell me something, how do advertising and advertisers rearchitect the model?

If you look, they are becoming nothing but networks of peeper with shared affinities and memories.

This is the fuel of those networks and they do not just need a media or communications strategy.

Actually, a strategy.

You need architecture and in order to define what it is, they need to behave like publishers.

People who talk about journalism , we believe that brands need to have a strategy to define themselves.

You have to tailor make and advertising for each person and the relationship becomes a challenge, doesn't it?

You do not have to tailor make it.

What you need to do is put it in the right context.

You need to trigger it and if it is right, people will match it, play with it, curated, shape it, and pass it on.

It will pass from people to people.

People will do it for you.

You do not have to create.

You have to co-create.

You are creating a social dialogue, are you not?


The thing is, how can i say the social dialogue content be converted into commerce.

If you look at the commerce, it is trust.

A meaningful value exchange.

That could be utility.

That could be entertainment.

It could be, you make me laugh or give me something relevant to my life.

We need the right kind of content that can address the bottleneck in the path to purchase.

We build a brand like that.

We focus on the bottleneck.


It is social economics.

That is what you are referring to.

A word that comes up that you keep using is trust.

In the research i did, you said it is the god particle of economic behavior and determines a currency of trust.

Can you explain what that means?

For instance, let's say somebody asked you for money, you would check with his neighbors, his friends, with your comment friends, with your colleagues.

Social networks enable you to do that.

So, trust is a currency of social networks and, more and more, banks, financial institutions leverage social networks to define how much they can trust an individual.

That would change the way we look at risk and could fundamentally change the world.

Again, you will say that the watches will talk to the shoes.

You know, how does this -- what is the opportunity and value proposition?

You do not always have to proactively manage your life.

Intelligent data and smart networks future rates and anticipate, mediate, your relationships.

There are things that you may want to proactively network intelligence to curate for you.

We choose a program proactively and tomorrow, they may recommend the program that is being watched.

I can watch it as well.

That is what i mean by a network curating.

All the routine behaviors that you do on a day-to-day basis.

It is changing the way

This text has been automatically generated. It may not be 100% accurate.


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