We are launching a new series, in collaboration with WebAble, a leading digital communication technology company based in Dhaka, with an ambition to demystify the marketing landscape in Bangladesh and bring you exclusive insight, interviews, analysis from the industry insiders in the field that you would not find anywhere else. Keep an eye on this place.
Marketing communications is going through a major shift globally. We are seeing, for the first time in decades, the great unbundling of TV, thanks to Netflix and relentless pursuit of TV ad dollars by major social media networks, slow death of advertising as we knew it, a handful of alternatives to banner ads and more.
The Bangladesh market is no different. Over the past several years, from almost oblivion, digital has gained significant prominence and become a mainstream phenomenon. Conversation and community building have given way to tools like chatbots. An increasing number of brands are now investing in digital platforms ranging from Facebook, local ad networks to youtube and other platforms.
The internet offers new opportunities and challenges for consumers as well as for marketers. To users, it offers the freedom to choose which content they want to attend to, from an abundance of content, unlike the TV world.
The central difference between the internet and conventional media is in the mindset and context. The internet represents an abundance mentality and freedom whereas traditional media is about scarcity. This is the central reality of this new world that changes many rules of the old. For instance, in digital audience decides what ads they want to attend to and when.
The way people consume entertainment and news and interact with brands has fundamentally changed.
This new reality calls for a deeper understanding of the changing reality of communication in the context of Bangladesh not only to do well in digital but also to succeed in the conventional medium. Because the consumption habit of digital does influence the expectation from and consumption habit of traditional mediums.
This is where our new series the Future of Marketing, created in collaboration with our founding sponsor WebAble Digital, comes in. Our goal with the series is simple: understanding the rapidly changing landscape of marketing and communication scene in Bangladesh, and sharing insights to prepare entrepreneurs, marketers, and strategists for the future of marketing.
Our job at WebAble is to bridge delightful innovation and campaign effectiveness. This is why are committed to looking at pop-culture trends, testing new ideas/technology and analyzing data to find stickiness.
This is an opportunity for us to learn from and share the collective wisdom of the top marketing minds in Bangladesh, young and veterans across various industries. Thanks to the insightful team at FS for taking the initiative. I look forward to some stellar reads.
- Ovick Alam, Co-founder, WebAble Digital