In his talk at L2’s Digital Leadership Academy, Scott Galloway argues that advertising is becoming less essential to brand building as consumers are discovering products with tools like Google, Amazon, and TripAdvisor. The brand is no longer on the tip of the tongue, it’s what Google says it is.
Furthermore, wealthy shoppers are paying to avoid advertising altogether.
However, it is not all bad news for brands even though it might be for traditional ad men (appearing less and less often on the cover of BusinessWeek). Winners in this new age are not always the biggest spenders on ads, but innovators in product, supply chain, and influencers.