VIDEO: Marketers need to catch up, says OgilvyOne leaders

Joining Fetherstonhaugh in Hong Kong were regional president and president of O&M Japan Kent Wertime, regional creative director Pete Moss and North Asia president and president of O&M Shanghai Chris Reitermann.

Fetherstonhaugh continued that consumers have been leading marketing decision makers in their adoption of digital, up to two or three times faster. He also speaks of what mainstream adoption of the iPhone means, especially in the hands of chief marketers, and how this influences the development of the mobile marketing industry.

In order to catch up, Wertime says, companies are going to be a lot braver than they are now. That includes redefining their digital strategy and "having adventurous spirit in terms of their marketing dollars." He adds that due to the scope of their choice, among other things, digital consumers have become a lot harder to please.

Reitermann elaborates on how this changes the true value of a customer. He continues that nowadays 50 per cent of consumers pass on a message or experience which completely changes the notion of how a company communicates.

When asked where the industry will be heading over the next five year, Reitermann said over the past few years the most successful US models have been copied in China but that will flip over the next 10 years as we see a lot of true innovation coming out of China.

Moss adds that people will continue moving just as they have from My Space and Friendster.