With digital, value is migrating from outmoded business models to new business designs that are better able to satisfy customers’ priorities.
As digital permeates every nook of business, firms will need diverse set of digital leadership. CIOs who step up to a digital leadership role can expect to contribute in a number of valuable ways, perhaps even assuming the über digital role with responsibility for all things digital. Those who can’t will be relegated to play subordinates to the emerging roles of Chief Digital, Data and Analytics Officer, or to the CMO, CFO, or COO, their portfolio limited to the infrastructure and corporate systems.
People have transformed how they consume information, research products and services, make purchasing decisions and share their views and experiences.
So in every boardroom, the buzzwords are flying – omni-channel, mobile-first, digital engagement, AI-first, digital transformation, Conversational AI, multi-screen engagement, millennial marketing, digital operating models, and so on.
Every leader has a semi-clear idea of what the digital strategy needs to be (Increase digital innovation; Improve customer experience by providing access through preferred channels; and drive cost efficiencies) — but there is very little clarity/consensus in terms of how to crisply translate the digital strategy into a next gen engagement architecture and create tangible ROI.
In other words, there is a growing “knowing–doing” gap emerging.
Mobile devices are ubiquitous and people glued to their phones throughout the day account for more than half of all internet traffic. Influencing the mobile consumer requires understanding the “context” in real time to make an impact and add value to their life. Four facts about him/her are necessary to engineer unique experiences:
- Who is the consumer?
- What do they want (to meet both her emotional and functional needs)?
- What have they purchased in the past?
- When and where do they shop?
The Rise of Mobile Marketing Automation (MMA)
The state of the art in digital marketing is the integration of social, local, mobile — or frequently called mobile marketing automation (MMA). MMA is a hot emerging areas that leading Chief Marketing Officers are focused on for mobile apps, precision targeting, and test & learn campaigns.
What makes MMA different is the focus on the propensity to purchase coupled with location intelligence. Segmenting and reaching audiences based on demographics, psychographics, content or cookies has its uses, but these methods don’t make the association that matters most – propensity to purchase and actual purchase behavior.
Just a few years ago, the category didn’t even exist. The tremendous migration of consumers to mobile as their primary interaction channel has fueled the need for new sophisticated B2C marketing tools. CMOs focused on digital consumer engagement are aggressively piloting new initiatives in this area.
Why? Because Digital shifts power to Consumer. Mobile isn’t the future – it’s the present. With over 2 billion Smartphone users and growing, mobile channel usage is growing exponentially. Consider these statistics….the number of Facebook mobile daily active users recently crossed 800M; the number of mobile-only monthly actives is 600+M users; % of users who only login from mobile devices crossed 30%.
Mobile-first, mobile-only are new behavior patterns in consumer engagement across all demographics.
Consumers – Gen Z, Millennials, Gen X, and Boomers – all expect brand interactions to be relevant to their immediate context. Established brands are scrambling to appear relevant in this mobile-first world, and brand-specific mobile apps are popping up with never-before-seen speed. Marketing requires meeting consumers where they are with laser-like targeting of offer & message – and mobile is a key place to do so.