Digital Marketing & Business Transformation By @ABridgwater [#BigData]
We do know that, to be successful, digital marketing will need to be integrated fully into any firm’s IT stack
Nov. 18, 2014 09:30 AM
When Digital Marketing Becomes Part of Business Transformation
We talk on this channel a lot about digital transformation, but how far does its scope extend?
Just in case you had grown tired and world weary of the whole ‘digital transformation' terms in the first place (Ed - surely not?), let us reinvigorate it by defining what we mean.
The move to digital transformation today involves and in fact necessitates a broad level re-engineering of many of a firm's main operation blocks such that they become digitally enabled and aligned for technologies including:
Inside this shift to digital is marketing, obviously. We have already considered the definition of the so-called ‘marketing mix' as that combination of all commercial resources from advertising to promotions to public relations and onward that comprises the marketing mix - but what happens when we need to digitize that element of the business.
What is the digital marketing mix?
Hmm, we need something more than this...
Business analytics software and services company SAS defines: "In simplistic terms, digital marketing is the promotion of products or brands via one or more forms of electronic media. Digital marketing differs from traditional marketing in that it involves the use of channels and methods that enable an organization to analyze marketing campaigns and understand what is working and what isn't - typically in real time."
There you have it more clearly, i.e., digital marketing has now become an IT asset, it has become part of the information technology firmament that any forward-looking firm will be seeking to build - quite simply, digital marketing has become part of business transformation.
Here's the hard part, if CEOs and CFOs start to approve new digital marketing budgets for the CTOs to spend their money on, will there be an almost blind faith level of belief that this action will help a company to address the shifting expectations of customers.
We know that most (even quite contemporary) modern marketing departments will today (in 2014) probably be short of the technical skills needed to architect, manage, deploy and manage any wildly complex data-driven customer profiling and personalization tool - this is not going to be easy.
We do know that, to be successful, digital marketing will need to be a) integrated fully into any firm's IT stack and b) integrated fully into the commercial (and we mean sales and operations) end of any business - once again - this is not going to be easy.
Let's hear what HP has to say on this subject.
According to HP's Autonomy products hub, "As customers interact over an increasing number of channels, the need for multichannel analytics to gain insights from Big Data has become the top priority for chief marketing officers. Marketers are also challenged by the ineffectiveness of products that are either too limited in scope, require significant amounts of time, or consume too many resources. HP Digital Marketing Hub enables you to turn Big Data into insight-driven action by removing many of the challenges associated with digital marketing and advanced multichannel analytics. Our product helps you to create personalized experiences for customers based on deep insight into their cross-channel behavior."
Digital transformation goes further than you might think; it goes to every tier and rung in the business.
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