Digital transformation: How far we have come
After working in the Digital Space for 11 years, I always love what everyone has to say about the “YEAR TO COME” for this medium. Over the past 4 years I have seen companies in all sectors dramatically shift their Marketing mindset into more of a online focus. Coming from the traditional marketing space, I do find it interesting that big brands and companies were accustomed to spending inflated budgets on brand related efforts such as; TV, Billboard Ads, 2-3-4 spread print ads, radio etc; with very little metrics except for the Nielsen Data. But has the introduction of online ads decreased the urge to spend inflated budgets?
Does online mean spend less?
But now, since the evolution of Google, my experience is that more companies in various industries are wanting to spend less to get in front of even more people (impressions) but this time they wan KPI with metrics (analytics), plus be in the same place as their competition… All this with LESS MONEY!
This boggles my mind.. I mean its not that companies are getting poorer, but the exact opposite. Have we created corporate monsters who want it all for less money? The answer is kind of yes; online ads and marketing have allowed the companies to learn so much more about a buyers online journey through analytics. Googles algorithm allows marketers to analyze, follow and observe buying intelligence like never before. And the fact that online ads are cheaper for now is a bonus, however as we become more technology focused we will se the price for ads and marketing increase.
We live in a digitally savvy social world, where we all have micro moments that define our online journey.
So as business shouldn’t you already know the value digital services such as SEO, SEM and Social Media?
Well if you don’t yet, I strongly suggest you do this upcoming year. It is important to partner with the right digital team to take your business to the next level. Digital is here to stay and it will get more advanced and technical as the years come.
According to Forbes here are a few things we will see this year!
Adaptability is more vital to success than ever: Change is going to happen whether you pursue it or not—you only need to look at how the role of cloud computing in 2016 has evolved to understand.
Growing importance of the user experience: The customer experience (including employees) is the ultimate goal of any digital transformation. Customers are more cautious than ever; they’ll turn away from brands that don’t align with their values and needs. A top-notch user experience is a fantastic way to keep customers involved and engaged with your brand.
Innovation must happen rapidly: Proactive innovation is one of the best ways to stay competitive in an evolving marketplace. New technology needs to be assessed, tested, analyzed, and judged more quickly than ever. Businesses can no longer afford to waste time and resources implementing new tools that offer no real value. This means a “Fail fast, to succeed faster,” mentality.
Embrace the remote workforce: Young professionals prefer flexibility to compensation. Mobile technology and bandwidth proliferation allow businesses to connect with (and retain) top talent anywhere in the world. Contract and freelance employees appreciate the ability to work from home or while sitting on the beach.
The advent of augmented reality (AR) and virtual reality (VR): The booming success of the Pokémon GO AR app is a wakeup call to any business that hasn’t evaluated the potential of AR and VR. These technologies were once limited to the gaming realm, but they’re now easier to implement than ever before.
Application program interfaces (API): Digital transformation inherently espouses shadow IT and the need for agility. New tools and technologies need more than one avenue for viability—otherwise, their value quickly drops. APIs are a secret weapon for embracing true digital transformation.
Big data and analytics: The importance of big data in the business world can’t be overstated. We know that there’s a dizzying amount of valuable data in the world, but few companies are using it to maximum effect. Analytics drive business by showing how your customers think, what they want, and how the market views your brand.Digital transformation is driven by the Internet of Things (IoT). Speaking of how invaluable big data is to marketers, the IoT offers immeasurable insight into customer’s mind. It’s also changing how daily life operates by helping create more efficient cities and leaner enterprises.
Smart machines and artificial intelligence (AI) are taking off in a big way. Our relationships to technology continue to evolve. Soon machines will be able to learn and adapt to their environments. AI has long been considered the realm of science fiction, but as technology improves, AI becomes a reality
Destroying silos. The role of the CIO has changed dramatically over the past decade. With rise to new roles like the Chief Digital Officer and the Chief Customer Officer, we are seeing a rise in the important of digital transformation happening NOW, and the importance of it happening not just in the technology of a company, but across the entire organization.