(Image credit – http://www.widernet.org)
We have been writing about Social Media; it’s benefits, posts on using each of the networking sites to your advantage and measuring your efforts. But as we helped more small to medium sized companies with their campaigns, we took a step back and pondered.
While the youth, the young adults of today with their selfies, text messages that read LOL, BTW, OTW, LMAO, ease of technological lingo, if you will, easily adapt to the constantly changing industry. We wonder, how have the others fared? New technology or change in general is disruptive. And with the pace it is currently at, it has posed a fair few challenges to businesses.
While wondering, we had our team meet a few people- students, university staff, office goers, business owners, café workers, content writers, stay at home moms and work from home employees and asked them how digitization has impacted their lives. The result was astonishing, to say the least. Digitization as we know it is a step ahead and greater than the Internet.
(Image credit- http://www.saphana.com)
Most business owners we met had been running the business for 35-40 years and it is safe to say that they knew what they were doing. But, it’s the digitization boom that’s created an imperative for digital innovation, technological upgrades and better engagement. Now while businesses have realized this, some often find it hard to pursue that innovation and disrupt their functioning business model for one that offers a more competitive advantage.
In the harsh world of marketing, if you don’t do it, your competition will beat you to it! So business owners need to deal with the challenge of understanding the technology, engage with suppliers, partners, clients, even employees digitally while also paying extra attention to the customers.
To begin, change needs to be from the top level and work downwards, and extend to all the departments. Developing a digital strategy that is robust, comprehensive, innovative should extend beyond the IT and operations department. It’s got to be cross- channel and should enable continuous engagement with all your stakeholders.
Globally, there have been major changes in the online world. Decline of the cost of media distribution, introduction of broadband has made content available to millions and on a commercial level.
–Creating user –generated content which has paved way for companies to change their advertising strategies allowing customers to participate in the usage and review of their products or services
–Content marketing with the inclusion of photographs, images, videos, video blogs making it that much easier to connect with people, learn new things and find time to reflect
–Web search itself has changed to allowing collaborative working and flexibility of searching for content that is now made easier to find.
Media companies aren’t the only ones reeling from these changes!
(Image credit via –www.thecybersec.co.uk)
Students have flocked to the Internet cafes, bought laptops to assist them in their education, there’s an increase in the consumption of data, allowing access to researched articles, international data on topics, broader perspectives – all while shaping the individual! The impact of this is a real time global exchange of information between multiple connected devices-phones, tablets, PC’s, SMART TV’s
(Image credit via ihworld.com)
Head over to PART 2 of this article to understand the influence of new emerging technology on today’s world and the latest research that shows what Generation Y expects!