Digital platforms and applications are the beating heart at the center of today’s global economy. This is true to a greater or lesser degree through all industries and throughout most of the industrialized world. According to a study by Adobe, DIGITAL DISTRESS: What Keeps Marketers Up at Night?, two-thirds of all marketers feel that digital is critical to their company’s success. Given that the vast majority in the marketing industry feel that digital is the way forward, it appears that less than half feel highly proficient in digital marketing. This is a disturbing disconnect.
With the looming possibility of government regulations concerning the marketing powers of the big technology players such as Google, Amazon and Facebook, companies are scrambling to consolidate and solidify their digital footprints and create a structured approach to digital media going forward.
European politicians as well as various business and industries across Europe have recently been voicing concern about the increasing power of American technology companies. Some feel that the much smaller European web industry will not be able to develop and compete with the giant U.S. interests. The concept of “essential digital platforms” is also emerging as an issue in comparison with the traditional communication mediums such as television and radio, which in most of the world access to them have traditionally been considered universal rights.
As the digital marketing industry is ever-changing and evolving, it is important for marketers and merchandisers to understand the fundamental best practices required to successfully engage and succeed in the digital environment.
According to a recent article in Harvard Business Review, the letter “P” is fundamental to the success of marketing in the digital age. To understand the new emerging digital platforms it is imperative for marketers and decision makers to have a deep understanding of their markets and customers.
People. As in everything, people are the center of marketers’ world. The new reality of digital platforms revolves around people and how more and more they expect (and demand) tailored, personalized convenience on their lifestyle platforms, as well as multi-channel access, so they can share their data freely with their circles of influence.
Participate. From the beginning of advertising as a “thing”. The strongest brands have always known that they have to converse with their customers, building relationships through their messaging and content. The interactive experience available due to digital platforms makes this skill absolutely necessary.
Digital platforms enable companies to brand themselves seamlessly across platforms and media. It is more imperative and simpler than ever to make the customer experience more personalized, relevant, and meaningful.
As digital platforms become more and more integrated into various products and services, the lines separating products and the platforms that host and present them will change. Marketers much be aware of the latest trends and developments and be ready to act and react accordingly.
Platforms are becoming seamlessly integrated with all other facets of business processes symmetry is causing companies to reshape other business processes, ranging from employee communications to performance management to professional development in order to adapt to platform functions.
Pay. In the near future there will be a greater integration of e-commerce models and applications that will work with social networks on digital platforms.
Partner. Digital platforms and providers must partner and work together to deliver a compelling, interactive and seamless user experience. The newest digital platforms are moving beyond simply being software platforms to unified business platforms with associated ecosystems, creating new opportunities for brands to form unexpected alliances.