SPIKES: Richard Pinder on the balance of power

Panel members at the seminar included Francesco Lagutaine, chief marketing officer, Citbank Asia-Pacific and Japan, Benjamin Lee ('Mr Miyagi'), Singapore’s leading blogger, and Calvin Soh, chief creative officer, vice-chairman at Publicis Asia.

The session asked whether the balance of power is shifting from the West to the East, from brand owners to consumers and from old media to new media. And whether the economic crisis caused the shift to accelerate.

Pinder said: “Digital is a bigger part of business now. If the balance of power is shifting to Asia, why hasn’t digital grown with it?”

Soh said: “We have to look at where the evolution of where the economy is going. How we engage with consumer-generated content and social media. The market still needs to adapt. The industry hasn’t quite come to grips yet. In China social networking hasn’t taken off as much as there is still the need to be anonymous.”

Speaking of how brands are engaging with social media Lagutaine said: “Successful brands at the moment are participating in social networks as a two-way conversation. Ultimately brands need to have a personality and let people come to you.”

However, he added: “Social media is a personal place to live with your friends. Companies aren’t invited there, they aren’t welcome. Unless, of course, they provide value, like Apple.”




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Spikes Asia is organised in conjunction with Haymarket Media. The full programme can be found at www.spikes.asia.