DIGITAL, the core of company STRATEGY
Digital is transforming our society that has a deep impact on the majority of industries & human lives (Please watch this interactive Video on Digital Transformation; PwC Digital Awareness).
For Enterprises things used to be simple. You had a marketing department with the focus to drive awareness of the companies products & services, a Sales department that closed deals on prospects, and an IT department that worked on systems to back up the two teams.
(NOTE: fast-growing Digital Companies that are 100% online, have since their foundation implemented a sophisticated in-house solution for its mar & ad tech)
In the digital world, this is changing. Digital should not be treated separately, but rather be the core of its strategy (makes sense because in the digital world services and products are sold directly online).
WEBs, APPs, IOT related devises are the new shopping windows for enterprises to marketing & sell their products and/or services. What is understood as Mar & Ad Tech are tools that offer a true picture on advertising performance (measure impressions, clicks, conversions in any given advertising campaign), the customer journey in the sales funnel (understand the path to conversion of a consumer), site & APP analytics (understanding and optimizing web & APP usage), and management of audience DATA (understanding consumer interests & purchasing intents in order to buy advertising space according to consumer needs)
These tools are no longer just a "nice" thing to have, but rather it's transforming to become the most strategic element for enterprises in driving their business.
Knowing this is a good start, but the challenge is HOW to implement a solution.
What are the next steps?
1 - choose the right technology vendor
To expose how strategic ad tech is, it´s enough to look at the last year´s important acquisitions deals:
Not all enterprises have the capacity to acquire entities to obtain its own technology, hence the license option makes all sense in the world.
The validation process of what technology to use in terms of WEB & APP platform, Ad Serving/Tracking tools, Media Buying Platforms (DSP), DATA management platforms (DMP) etc ought to be carefully selected. Working with independent consultants such as Accenture Interactive, Deloitte Digital, PwC Digital is an excellent option.
(the use of an external consultant is not a must but since its strategic and complex, a helping hand is not a bad idea)
2 - choose the right team to onboard & manage the technology
Technology is important and the process to find the right partner is crucial but as we all know, PEOPLE COME FIRST, even more in the digital transformation era.
There are basically three options in how to move forward to build a team:
(A) Use an experienced Agency that offers its team to manage your technology. With this option its important that you are always in control. Who is the owner of your DATA? Who will be in control of the algorithms & campaign learnings built? Is full transparency offered in media buy? etc..
(B) Technology vendors offer managed services. It's a good option but be aware that your partner should never prioritize its own products before the advertiser's strategy. Each technology partner is a specialist in one area hence prioritize a partner that has an open solution where you can work with multiple Advertising & Marketing Solutions. Make sure that your tech vendor is independent!
(C) In-house is probably the best options for a sustainable long-term technology solution for your Digital Marketing strategy. Nevertheless its also the most complex. For this option, recruitment and how to manage human resources is key! Technology people are good at solving problems around TECH but fails in understanding your business. Your marketing people also need training in how to operate and make the best use out of the platforms. To orchestrate this set-up require a head of Digital that truly understand the value of DATA Driven Advertising, combined with techniques based on big data, marketing, media buying, campaign/site tracking and sales.
Licensing your Marketing & Advertising Technology Suite has the following advantages:
* You have total control of your digital strategy with the power of taking your own decision and actions
* You can scale your activity in the way that suits your company
* You are the owner of all DATA collected from your web, app or advertising campaigns. This will offer huge savings, exposing advertising to only relevant audiences and with the adequate message.
* You know what you paid for! Enough with unfair CPM prices due to the lack of insights.
* You are no longer dependent on someone else; Your strategy & your rules
* You don´t need to pay XXX millions of dollars to get what you need :-) (The return of investment, licensing your Ad-Tech has a positive return on your investment. Source: Forrester)
Time to roll up your sleeves and get to work!!
For any additional info, please contact me directly on LinkedIn or request to connect.