While it would seem, the digital age has been with us for quite some time it is obvious that we have reached a tipping point, in which the capabilities of a hyper-connected world and the ability to leverage the associated data have changed the landscape once again. It is no secret that digital technology is disrupting every industry. What’s more, while every corporate function is impacted, no function has a more significant opportunity than marketing to change their organization’s fortunes by seizing upon the gift of digital disruption.
The implications of digitally empowered consumers to marketers is profound; however, those marketers that embrace this sea-change and harness the powerful digital marketing applications available on the market today to engage current and prospective customers will in most cases achieve strategic advantage. But category leaders beware, as these applications are lowering the barrier to entry to upstart businesses introducing disruptive business models that have the potential to turn your traditional category on its head. However, advantage will not be gained by leaders and disrupters simply investing in technology alone.
Too often marketing organizations get ahead of themselves, and believe that if they simply acquire the technology (e.g. marketing automation, digital asset management, content management, product information management, analytics, or attribution software) that the problem is solved. The flaw in this thinking, is that deploying these relatively new, and ever evolving, technologies takes a more systematic and holistic strategic view and securing the right resources beyond the technology investment to ensure success. A holistic approach built around new strategic processes, evolving organizational design models, emerging skill sets, structured management operating systems, highly accessible metrics, etc. need to be orchestrated in order to deploy, manage and ultimately gain the strategic value of these technologies.
I have developed a host of strategic notions regarding how marketing leaders should approach enhancing their marketing capabilities with technology but welcome your thoughts.