Is Advertising Dead?

I saw this video and it got me thinking, is conventional advertising really dead?

Consumers are skeptical of traditional brand messaging. They are relying more and more on referrals from friends or even strangers, on sites like facebook, Yelp and Angie’s List. The video does a great job at demonstrating why the old way of doing things isn’t working as well anymore. It’s time for companies to approach marketing in a new way, they need to engage their clients: interact, listen and communicate, rather than dictate.

Do I really believe conventional advertising is dead? No, but I do believe it must change. Otherwise, it is possible that it could go the way of the dinosaur. 

What do you think? Do you trust advertising? How do you decide where to spend your money?

For more insights on conventional advertising and social media, check out Groundswell by Charlene Li and Josh Bernoff.