What exactly does “digital transformation” mean and why should we care? It means that people are discovering and interacting with brands in new ways, putting an onus on agencies and clients to evolve. Specifically, the data-driven digital world is challenging marketers to find more effective engagement strategies throughout the marketing funnel. It demands new skill sets and expertise and is challenging traditional success metrics.
OgilvyRED’s Digital Transformation Survey explores the transformation journey of different industry sectors across Asia Pacific, and how prepared – or unprepared – businesses are in tackling those challenges. Over 90% of the organizations surveyed described themselves as ‘somewhere on the journey’ to transformation, with only 17% of those surveyed currently delivering a new digital experience, leaving over 80% of companies with no plan or behind the digital curve.
Lucy McCabe, President, OgilvyRED Asia Pacific, said, “Challenges vary between sectors and markets, but the key is to identify the roadblocks and bridge those gaps. Companies need to challenge traditional success metrics and deliver consumer experiences based on intimate algorithms that shape the experience around that consumer.”
Here’s the good news…
The top four outcomes that organizations seek from Marketing Transformation are customer-focused.
The Funnel of Love
1) Extend reach to new audiences
2) Increase relevance and engagement with consumers
3) Transform the way value to customers is delivered
4) Increase customer satisfaction
Additionally, many of the surveyed emphasized their struggle to find an integrated agency that demonstrates a depth of specialist expertise. I believe this is the case, but I continue to be puzzled at the resistance to change. It’s 2017, and programmatic ad buying is a joke or a crime, depending on one’s point of view. Social media marketing also fails to matter for way too many brands—not because the audience is absent, rather the material provided isn’t consistent or compelling.
We know the opportunity to connect brands and people in meaningful ways is ripe. Sadly, much of the fruit is currently left rotting on the tree.