Do you ever get that nagging feeling, during your day, about the growing inefficiency of advertising for brands?
Mounting evidence comes, in part, from the explosion of brands in the world. In 1997 based upon the number of trademarks in force there were approximately 2.5 million brands. By 2011 there were nearly 10 million (source wipo). Simultaneously the average ‘paid-media’ spend per brand was down nearly 25% from 1996 (source 100 leading national advertisers’ index).
So the job of being a distinctive brand or business has become much harder and using paid-media to do it has become more expensive and fragmented.
From a consumers point of view the world had just become incredibly noisy, crowded and confusing.
In 2013 Havas’ study on Meaningful Brands highlighted that most people globally would not care if 73% brands disappeared tomorrow, fueled by a growing lack of trust, empathy and indifference.
Here at FRANk we’ve been pointing to economic and social indicators for some time so it’s pretty exciting when we came across a company that mirrors FRANk’s ethos.
Let us introduce co:collective
In a nutshell, there are two kinds of companies out there: storytelling companies that communicate the story of their brand to a mass audience via PR or paid advertising; and storydoing companies that tell their story primarily through action, not advertising.
Social media and our increasingly networked world have created the opportunity for companies to not just communicate differently but to behave differently, taking innovative action that tells a clear story.
If that nagging feeling won’t go away then have a look at Storydoing and the methodology on inventing and reinventing businesses, brands and products.