Digital Marketing is a vast term. There is not a single definition of it which we can rely on, so, we can look forward towards what experts have to say about it
Ivan Menezes is the CEO of Diageo, put it in the simplest terms, “Digital Marketing is not just digital, but in fact, it is actually marketing effectively in a digital world.”
To survive in this digital age brands needs to carry out digital transformation which will boost their sales and increase their revenue.
A vast majority of marketers realize the fact that brands need to evolve and there is a need of urgency to compete with the competitors.
In a survey 27% of the senior executives think digital transformation is the necessary key to survive in this age.
While 33% of executives believe that digital transformation is a real challenge for them.
Why is a digital transformation so complex? And what are some of the major challenges faced by Digital Strategists of the modern-day brands?
- Challenge of Big Data
Big Data is the new buzzword. Companies are using the power of Big Data to understand the buying behavior of their customers and improve their product as per the demand of the customer.
Management of Big Data is a crucial part of the Digital Transformation.
As we all know that every organization is collecting data in large amount. But, the most successful brands are using Big Data to collect a vast amount of data and use it for their benefit.
There is no need to sit back and relax in the brand has all the data but don’t make use of that data, soon the brand will suffer from great consequences.
The best case is to store all the data in one place and access the data whenever there is a need. There are tons of data management solutions out there which can be used for Big Data management. Example Google Cloud, Oracle Big Data Solution, Microsoft solution, and many more.
- Challenge of hiring the right team
Digital Marketing is not just for everyone. There is a specific set of expertise which is required to excel and lead in the field of digital marketing. The challenges may include an understanding of artificial intelligence, virtual and augmented reality, IoT, and other similar technologies.
People who have traditional marketing knowledge don’t have the necessary skills to carry out the digital transformation in the right manner.
A survey done by Adobe reveals that 52% of the owners believe that lack of familiarity with digital marketing is one barrier which is getting in their way to take out competitors.
In order to stay agile in the digital marketing transformation, the owners need to focus on roles with a specialized skill set in the digital marketing field.
A report by Gartner reveals that 19% of the brands are planning to hire Chief Digital Officer. Some of the relevant roles can be Head of Digital Marketing, Chief Information Officer, and even Digital Optimizer.
Hiring the right people is the most critical part of the digital transformation. No risk can be allowed in the hiring process. As mentioned above, people with specific digital skills need to be hired, instead of people with conventional marketing skills.
- Challenge of understanding customer behavior
In today’s world, customers expect exceptional customer service from brands. With Digital Transformation there is a driver of innovation and heavy competition in meeting the needs of the customers.
“We have focused like a laser on customer experience, and that really does matter.” ~Jeff Bezos.
In a study done by Altimeter Group, it was concluded that technology is not the most important factor in digital marketing transformation, it is creating memorable customer experiences which generate influence and impact in the market.
In 2016 study by Altimeter Group, it was concluded that 55% of the senior executives think that evolving customer experiences play a crucial role in digital transformation.
By using Big Data brands are analyzing what customers are lacking and based-upon that they are creating better experiences.
- Challenge of shifting to mobile
A study done by eMarketer predicted that by the end of the year 2019, 65% of the customers will prefer to buy products and avail services from mobile.
To cater the digital transformation, you need to contact our branding agency and get on with the digital transformation.
Google already shifted to mobile-only indexing and gives a great amount of value to mobile apps and search results are highly influenced by the quality of the mobile app that the brand holds.
In order to win this war, you need a play by using the weapons which everyone else is using but making your own strategy to drive your business.
If you haven’t focused on Digital Transformation yet, it is time to do so. After going through this blog, I am sure you know what it will take to succeed in the digital age of transformation. You can move forward as you’re moving, or you can adopt the future and walk head-to-head with your competitors.