Most coverage of digital transformation refers to its impact on the business as a whole, with marketing as one small part of the discussion.
Digital transformation goals
At a recent Econsultancy event in Singapore, Digital Outlook 2017 Part 2 hosted by NTUC, Mutiny Asia founder Nick Fawbert did just that and offered insights about what digital transformation means for marketing and how it could potentially change how we do our jobs.
According to Nick, the goal of digital transformation for marketing is a ‘reduction in expenditure and an increase in customer retention and spend through the use of digital channels.’
The way that these goals are hit, at a high level, is fairly straightforward. Digital transformation changes the business through digital content, business strategy, effective structures, talent development and industry engagement.
In the trenches, though, digital transformation is not at all straightforward. It is an intensive exercise which requires commitment from everyone in the digital marketing supply chain including senior management, comms, content producers, data and analytics professionals, IT, and even HR.
And while each of these departments will have their own challenges and wins, the biggest shift for marketers is that digital transformation changes the model at the heart of marketing strategy.
The potential of digital transformation for marketing
Before becoming fully digital, marketers tend to map their strategy toward ‘the general consumer’ or a target market.
A marketing strategy, in this context, is intended to guide the consumer through the various stages of the buyer’s journey. It raises awareness through broadcast channels, satisfies interest through content, builds desire through communicating value, and drives action through offers, for example.