5 SOCIAL & DIGITAL LEARNINGS FROM THE INDIE SUMMIT
1. AI as a tool to be embraced not feared – No surprise, AI is big on the conversation agenda, (which we have been following closely). Ted Lim, from Diff Creative Consultants, Singapore, echoed the general consensus that we can either fear it, fight it, and eventually let it win. Or we can embrace it, use it, tune it, train it, co-create with it….and win together. And while many in the marketing and advertising sector experiment with AI to do specific tasks and speed up areas of the production process, the big watchouts are both from a copyright, (AI under current law cannot own any copyright) and ethics perspective. Net-net: AI is here to stay but proceed with caution. We’ll be soon sharing the work we’ve done in the AI space over the last year, so watch this space...
2. Search is going social – in terms of how young people are using the internet they are increasingly using it for inspiration. Global Web Index from the UK highlights how ‘Social the new Google’, reporting that ‘finding new ideas or inspiration’ in terms of how people are using the internet has shifted the most in terms of internet usage – from 9th place in 2018 to 6th place in 2022. Kurio from Sweden similarly reports that nearly half of young people are turning to social platforms like TikTok or Instagram instead of searching. Net-net: the younger audience’s purchase journey starts from curiosity and it’s down to brands and marketers to guide them along a path of inspiration and ideas rather than brands and products.
3. Inspiration trumps Instagram - Impactful events today really consider the specific feeling they want people to feel, not simply create an Instagrammable moment. According to NYC’s Early Spring, “If you aren’t doing something other than creating a space where people can take a picture, then we aren’t providing value that reflects the time people have come and “sat in your ad” for 15 mins”. Net-net: If you’re in the business of events, don’t fall into the trap of ‘Instagram only’. Think beyond the obvious to drive a transformational brand experience.
4. The hype of the metaverse may be over but web3 is here to stay – Nusa Meta from Indonesia reminds us that while the 2022 hype period might be over for the metaverse, brands and businesses intent on connecting with Gen Z and Gen Alpha continue to invest in web3, recognising the metaverse’s power to deliver entertainment, experience, earning and engagement. Looking to Indonesia as the 4th biggest Internet audience, we can take inspiration from the many government bodies and banks who recognise that the metaverse is the way to reach large audiences and connect with the new generation of students and consumers who Most interestingly, Indonesia’s Central Bank is planning on issuing a digital rupiah, meaning metaverse users won’t need a cryptocurrency, a sign of what we are likely to see emerge in an international context. Net-net: Experimenting in the metaverse is key in terms of engaging the next generation of Alphas who place high value on their digital identity.
5. Immersive reality is the future of storytelling – the best storytellers use the most exciting technology available to capture people’s imagination, says San Francisco based-agency Rock Paper Reality. And unlike any other storytelling medium to date, AR fuses digital and physical storytelling in ways that let you: watch the story, hear the story, tell your story, and BE the story. Net-net: An immersive digital experience is the direction we’re all headed in, how we approach our storytelling needs to reflect this.