As we move into the digital age, brands need to adjust their marketing strategies to keep up with the constantly changing consumer behaviour. We sat down with Sverre Flåskjer, founder and Managing Partner at Equip Capital, a renowned Nordic private equity firm that has invested in Cure Media. Sverre has extensive experience from the marketing industry and we asked for his best advice on how to successfully adapt to the ever-changing consumer behaviour and stay ahead of the curve. 

Based on your many years of experience from working at, and close to, companies in the B2C space, what would you say are the biggest changes when it comes to consumer behaviour in recent years?

The marketing landscape has changed drastically since I was a marketing executive. TV commercials used to be the go-to way to reach an audience and were seen as the ultimate event with commercial breaks. Everyone wanted to make these commercials, but now since people are more likely to access media through their devices and social media, the focus has shifted. Consumers now choose what they are interested in and look to their peers for input rather than to authorities or brands. The rare TV commercials that still exist tend to reach an older audience and lack the same attention as before. Music videos have changed in the same way, as consumers are now in control and select what they want to watch, rather than relying on the traditional broadcasting format.

Totally! Consumers are taking control these days. Thanks to social media, we can get exactly what we want, when we want it. Do you have any examples of brands that have successfully made this shift, from traditional to digital?

Nike, one of the leading brands in their field, has changed their marketing approach over the last two decades. They used to spend 70% of their budget on television, but now they spend only 2%. Instead, they focus on reaching people through social media and the internet, using influencers and athletes to create a connection with their audience. Embracing this new marketing strategy is essential for staying ahead as a leading brand.

That’s the way to go! Still it’s fascinating to see how many big legacy brands haven’t changed, right? Even though we all know that we trust other people more than we trust brands, and we spend most of our time on social media, they stick to more traditional channels.

I’d say traditional advertisers are facing a challenge in keeping up with the changing consumer behavior. They can find it difficult to move away from their traditional marketing methods and they are stuck with their media agencies. These companies are not necessarily wel