[Insight & Opinion] Augmentation in the Era of Cultural Marketing 3.0

[Asia Economy] Recently, corporate marketing trends have been shifting towards performance marketing, growth hacking, and short-form (15 to 60 seconds focused) video platforms. Specialized firms executing these strategies are thriving among the MZ generation. While these marketing approaches are trendy and clever, they are not the kind of Bigshot marketing that companies with a vision use to boldly and persistently stimulate societal progress and enthusiasm. One method of Bigshot marketing is cultural marketing?specifically version 3.0.

In Yeosu, there is Yeulmaru, established and operated for 10 years by GS Caltex, a leading company in Yeosu. Over one million visitors have come so far. The Light Bunker in Seogwipo City has opened a new chapter in digital culture. Hyundai Card has gained fame through cultural support initiatives such as City Break, Library, and Gapado Residence. Thanks to Hyundai Card’s inspiring activities, banks like Woori Bank and Shinhan Bank have also engaged in cultural support activities. KT&G’s Imagination Marketing has been operating for over 10 years in coexistence with local communities. These are not short-form but long-term engagements. They are also good examples of ‘Art-based Management,’ as described by Giovanni Schiuma, Director of the Innovation Insight Hub at the University of the Arts London. Cultural marketing is the marketing version of this concept. Korea has passed through cultural marketing phases 1.0 and 2.0. Phase 1.0 was the awakening stage to culture, and 2.0 was the diffusion stage. Phase 3.0 is the stage of mutual augmentation between technology and culture, and between companies and participants. Augmentation means mutually uplifting each other like Mazinger Z or AI humans.

Now, we need to open the 3.0 era, but problems are apparent. Apart from the companies mentioned earlier, there are no new participants, and technology and culture are operating separately. Instead, conditional manipulation marketing such as performance marketing and growth hacking, short-form videos like TikTok/Reels, and virtual reality (VR) marketing that mimics reality are becoming mainstream. While this is the trend of the times, it also signals a decline in Bigshot cultural power that penetrates global truths and stirs human hearts. The literacy and concentration of the MZ generation are decreasing, emotionally stirring copy and visuals are rarely seen in recent corporate advertisements, and culture is lacking in ESG efforts?these are manifestations of weakening cultural power. Peter Drucker emphasized, “The purpose of a business is to create customer value, and value comes from innovation and marketing.” Cultural marketing as augmentation is value-creating marketing because it elevates corporate vision, inspires members’ consciousness, and enhances brand prestige through differentiation. Yet, social cultural power is weakening! Local government festivals are also cultural marketing, but many local governments competitively emphasize numbers and economic effects. Universities hold many festivals in autumn, but the competition is only about who invites more expensive celebrities.

This reality is not unrelated to value changes caused by technologies like virtual reality, LTE, and SNS, the emergence of the MZ generation, and developer-centered management. Technology and culture sometimes oppose each other and sometimes augment each other. For the latter, leaders’ insight and cultural orientation are crucial. Cultural marketing 3.0 is not about showiness or style but about the method of augmentation. Do today’s leaders see technology and culture as opposing forces, augmenting forces, or do they focus solely on technology?

Mark Zuckerberg, founder of Facebook (now Meta), asked early on, “Are we a technology company?” Yvon Chouinard, chairman of Patagonia, who said, “We pay with a view to 100 years from now,” expanded his business beyond apparel to forks and beer for the planet, and recently donated all his company shares worth 4 trillion won to the value of the Earth.

Hwang In-seon, marketer and writer.