According to Steve Heyer CEO, marketers and media agencies should start changing the way they do business or else their corporations are headed to a collapse. Heyer's notes on this were given long ago, yet they prove true now. He delivered a keynote speech bearing this message to a group of 400 media, ad agency and entertainment executives during an “Advertising Age” conference in 2003.
The man occupies a top position in Starwood Hotels & Resorts Worldwide. His words from some years past were eventually continued in subsequent interrogations regarding them. He stated that his aim for the company was to have it market the experiences that could be had in the hotels instead of the quarters themselves.
Experiential value is of prime importance here. He wanted to emphasize the value of promoting amusements as services or products. Heyer and his idea of marketing experiences blazed a trail in the marketing industry following that, for the freshness of the proposed outlook.
In the 2003 speech, he proposed to marketers and media leaders to become more customized and personalized in delivering their services and products, and aim for the empowerment of consumers. This is precisely what one now observes in businesses: customization. Nowhere is this more visible than in the technologically-centered industries.
We are seeing old forms of entertainment being given a run for their money by fresh avenues of media distribution. A lot of money was lost by those in the songwriting and production business, for example, because of data-ripping technologies. Internet users indiscriminately downloaded the latest and most popular hits for free.
The musical industry suffered huge losses, as noted by Heyer in his 2003 speech. It was an object lesson along the lines of Heyer's theme of continuous adaptation to handle a shifting market. He also addressed TV executives and warned them to prepare and adapt to “the changing media consumption habits of younger generations”.
Steve Heyer argues that modern marketing efforts should focus on the creation of cultures, not products. According to Heyer, he intends to provide a unique and enjoyable experience for consumers. In other words, consumers would have their eyes trained on what the hotels could provide, not the hotels themselves.
To this end, Victoria’s Secret has been called on to partner with the hotels to produce The Limited Victoria Secret shows for exclusive viewing in the hotels. Only certain persons in the Starwood hotels are allowed to attend the runway shows. This is the perfect execution of what Heyer meant.
The CEO was also critical of how Hollywood is “slapping” logos and brand names in movies out of context. To Heyer, this is absolutely devoid of context. He also said this practice neither improves storylines nor enhances marketability of products.
Steve Heyer CEO used to head Coca Cola Ventures. Some of his services for that company actually demonstrate what he is trying to say by "contextual" brand placement. He managed to get Coke cups on the table of the judges for a certain talent competition aired on TV, ensuring contextual visibility.
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