Almost everything we thought we knew while growing up the Eighties and Nineties is changing. Traditional meanings of brand, customer and marketing have evolved in a new paradigm of mobile, and while the change is exhausting and challenging, it is truly energising too.
In the words of Brian Fetherstonhaugh, Chairman and CEO of OgilvyOne Worldwide, “standing still (in such a rapidly changing environment) is going backwards”. In a discussion on digital transformation, he advised companies to pay attention to their marketplace; to take cues from customers, and match their pace and experience. He further reiterated a 7-step digital transformation framework that OgilvyOne has created:
This vision ensures that your business exists at the intersection of marketing and technology, keeping consumer at the heart of it all. With that in mind, here are some learnings from my pursuit of digital transformation at OgilvyOne (so far):
Digital strategy doesn’t exist – strategy in a digital world does. A digital mindset is required, but a consumer-centric vision is what’s needed for a true digital marketing transformation.
Traditional and digital with a departmental distinction don’t strike a chord. Traditional touch-points, made experiential with digital, makes a brand memorable. Our customer is fast moving into a dialogue, and a monologue in a digital world will simply no longer cut it.
Some of the biggest challenges to digital transformation: politics, egos, self-preservation, lack of understanding and expertise, inertia, and not-my-job mentality.
Marketing budgets (or digital budgets, so to speak) don’t change the world – your vision and boldness for your brand make what you do behind that cubicle, all day and night long, worthwhile.
Conquering your market doesn’t mean you’ll be able to hold onto it. Kodak is a case in point: Kodak focused on the product instead of on the value customers got from the product…the ability to capture a moment. Technology may change; but the value your product offers at a deeper level shouldn’t.
The essence of digital is meaningful storytelling that shows what your brand stands for. But in order to determine what your brand stands for, it is important to figure out (and accept) what it does not stand for. When you stand for everything, you effectively stand for nothing.
Ten partners working in silos don’t create consumer experiences – ten partners discussing your Target Group [TG] over a smoke or drink leads to an insight that will make your brand a part of your TG’s life.
Data analysis isn’t the point; insight from data leading to a powerful story makes data worth the hype.
Agility is the name of the game. In the age of information, the ability to make smart decisions quickly is more important to growth than techniques that have “always” worked in the past. There’s hardly any room left for a “we’ve always done it this way” approach.
Managers who respond to social and digital innovation with “that’s cute”, are fast becoming dinosaurs. So the time to take internal resources away from the “big moneymaker of the past” may be now.
Change is scary. Change is what gives Mad Men tremors. But hold on to your seats, as we enter another two decades of change championed by digital transformation.