The emergence of refined digital technologies has transformed the traditional way of communication, collaboration and the way how business was done. In the modern era, along with artificial intelligence, organizations must embrace the new world through the path of Digital Transformation.
Today, digital consumption is at its peak and hence, to retain your top position in the market, you need to adapt the change by transforming your marketing functionality. This transformation had been in plans of many organization for years, but, if predictions are to be believed, then 2018-2020 is critical for the leaders in this industry. During this phase, this marketing alteration will be planned and implemented at an unbelievable pace.
To be precise, Digital Marketing Transformation is nothing but the change in organizational thinking driven away from what that favors traditional marketing channels. Here, the main aim to prioritize Digital Media. This new change is also addressed as “Digital First” which implies eliminating the favoritism towards the conventional else traditional marketing channels. Instead, taking digital concept at the heart of your organizational reasoning and marketing techniques.
Here, it is essential to understand that a project on digital marketing transformation means altering your marketing culture, as well as processes to become Digital First. But, it will be wrong to say that digital marketing should just be used as add on since it goes far beyond this.
Facts on Digital Marketing Transformation:
To have a clear understanding of the Digital Marketing Transformation effects, have a glance at the below statistical facts:
In the coming years, more than 82% of the internet traffic of consumers will be via video. Most of the brands are already prepared for this shift. And, estimation is made that in the U.S., expenditure by 2020 on online video ads is likely to hit $17 billion. Thus, to cope up with this trend, marketers need to plan wisely for digital video and increase their investment in the same.
Approximately 75% of the entire marketing budget will belong to Digital Marketing. According to “Salesforce Research”, by 2021, three-fourth of the complete marketing budget will be spent on digital channels. This when compared to the expenses made on this medium in the year 2011 (62%) is quite high. The change truly indicates the revolution in the advertising industry.
When compared to the various traditional media outlets presently working around the globe, Google and Facebook earnings are clearly higher. In ad revenue, this duopoly (Facebook and Google) is reining the industry with $117B which is far beyond the combined earnings of newspapers, magazines & radio network worldwide.
Voice search and Image relevancy for content can help you get more than 94% views. These two will give your marketing strategy an unmatched boost in 2019 which would otherwise not be possible. And, this also implies for online videos. Remember that marketers are willing to make an investment in design resources to create compelling images and ads, hence, to understand the trend & work accordingly is pivotal for the projects’ success.
5 Steps to Master Digital Marketing Transformation
Today, almost all the businesses are informed that there can be no better way than the Digital First approach to achieve a favorable outcome from their marketing strategy. But, the actual difficulty lies in turning this into practicality. Here, the experts need to work with complete commitment & dedication for making the transformational journey successful.
Here are the 5 Basic Steps to Get Started with a Digital Marketing Transformation Project:
Analysis of the Current Situation - For this, you can carry out a review or a simple assessment to know the present state of digital marketing in your activities. Here, keeping the focus on your customers’ experience is recommended across all the major digital channels. Also, while doing this, you must also take into account the activities performed by your competitors.
Create a Vision - This simply intends that you need to create a vision for digital marketing parallel to your organizational thinking. And, while doing so, do not forget to highlight the reasons why turning ‘Digital First’ is mandatory.
Raise the Business Case - Focusing on the value & importance of this transformation for your business and how it can offer benefits in the short as well as long-term is essential. You should recognize the crucial performance indicators and if required, you must take measure to keep everything in place that will help you get the right momentum.
Create Your Own Unique Digital Marketing Strategy - Identify the strategic strands that are of vital importance for your enhanced digital marketing strategy. Also, it will be great if you can put an extra effort to analyze the entire tactical campaigns.
Constant Review & Improvement - Incorporate a process that can be used for continuous improvement. To get started with new and amazing digital marketing techniques is crucial to becoming ‘Digital First’.
Challenges on the Way to Attain Digital Marketing Transformation:
We are at that point of time where the rate of digital alteration is at a pace like never before! And, as per a recent study by Huffington Post, Deloitte, Information Age & PWC, there are four factors which need to be given additional care to achieve optimal outcome:
Rate of Technological Change
Device Connectivity and Mobile Data Consumption
Digital Media Consumption
Currently, consumption of mobile data has increased and the connectivity of devices is improving globally. And, believe it or not, but the shift towards this mobile digital consumption also has an impact on the online behavior of consumers. Moreover, with the introduction of technologies like Voice & Visual Search options online shopping has also become convenient.
Importance of Digital Marketing
Today, considering the trend, it will not be wrong to say that not many brands are aware of the value of this marketing method and the rest are not making complete utilization of the same. And, this is surely a major reason why the pace of this transformation has been slow.
As a matter of fact, digital marketing helps the brands to reach new customers and provide effective measures to boost the ROI as well. Having the ability to exceed geographical boundaries, making a strong presence is no more difficult. But, for those who still count on the traditional marketing techniques only, availing this benefit will not be possible.
Through this post, we have informed why it is essential for your business to become “Digital First”, and also helped you to understand the needs of customers. Their expectation is at a new height, thanks to online giants like Amazon, Facebook and Google.
So brands longing for online success need to gear up! Also, special attention must be given to serve consumers with comfort in various forms like incredible UX, speed and accessibility. This will surely give you the right boost to match the standards set by the leading online players.
If you are interested in revolutionizing your business and develop a unique Digital First strategy, then Infoicon Technologies is the name you can count on. Holding years of experience in this industry and being equipped with advanced tools, our experts implement the best practice to attain desirable results for the clients’. To discuss more about Digital Marketing Transformation, feel free to get in touch with Infoicon Technologies.