This story was first published on Raconteur.

Mark Holden, PHD Worldwide’s planning & strategy director has been quoted in today’s Raconteur article, published by The Times in an article entitled “Brands must listen to customers – or die”.  The article puts forward the point of view that the two-way conversation between companies and consumers, either through word of mouth or on social media, is an opportunity for brands to thrive or die.

Mark says “earned media” is “potent but insignificant”.  “Earned media – publicity or coverage generated without paying for ad space – might be two of three times more powerful than advertising, but it rarely reaches more than 0.1 per cent of a brand’s target market.” “People do a lot of number-wanging, but is the price right and does it make you buy any more toothpaste?”

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