You may have heard of digital transformation, digitalisation, digital disruption but what does it mean?
We encounter it in our brand marketing every day with clients and our own business.
Things are happening faster and larger scales, and no doubt your organisation has or is encountering this. It’s no surprise that a significant advancement in technology, and the rate at which it’s adopted, has directly or indirectly driven most of these changes. The perfect example of this is Instagram that reached 100 million users in two years where the telephone took 75 years to reach this milestone.
The evolution of everything digital, from the initial rise of social media and smartphones to the growth of big data etc. will continue to drastically change the way we behave. Putting this into perspective, in the last two years, 9 times more data has been created than in the entire history of humanity up to that point.
So what does it mean in terms of brand marketing?
Digital transformation, digitalisation, digital disruption are not new terms and most large enterprises have had a Chief Digital Officer for a few years, and Gartner estimates that 90% of large organisations will have a Chief Data Officer by 2019. There are three main areas when discussing digital:
New technology – (Digital technology and IT systems)
Engaging with customers – (Digital marketing)
Entirely new ways of doing business – (Digital transformation)
Thanks to rapid development across all areas of digital, modern businesses have realised that they must keep up with the resultant changes in behaviour or risk being overtaken by tech-savvy start-ups or early adopting competitors. Technology and the data that it produces present opportunities for businesses to interact with customers in new and more innovative ways – and to gain a competitive advantage because of that.
We should all stop thinking of digital as a ‘thing’, and start thinking of it as a new source of revenue, an opportunity for your brand.
If you would like to explore how you are positioned with digital and create a road map to take advantage of this opportunity, contact us.