flevyblog

Flevy Blog is an online business magazine covering Business Strategies, Business Theories, & Business Stories.
MANAGEMENT & LEADERSHIP STRATEGY, MARKETING, SALES OPERATIONS & SUPPLY CHAIN ORGANIZATION & CHANGE IT/MIS Other

The Era of Tech-Savvy: Going Digital and Digital Marketing

Editor's Note: Take a look at our featured best practice, Digital Transformation Strategy (145-slide PowerPoint presentation). Digital Transformation is being embraced by organizations across most industries, as the role of technology shifts from being a business enabler to a business driver. This has only been accelerated by the COVID-19 global pandemic. Thus, to remain competitive and outcompete in today's fast paced, [read more]

Also, if you are interested in becoming an expert on Digital Transformation, take a look at Flevy's Digital Transformation Frameworks offering here. This is a curated collection of best practice frameworks based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. By learning and applying these concepts, you can you stay ahead of the curve. Full details here.

* * * *

nokiaFifteen years ago, the ‘new cool’ was owning a Nokia 3310, a legendary, unbreakable and indestructible GSM mobile phone announced in September 2000[1]. We were over the moon with its features that enable us to make phone calls, send long SMS text messages and play the classic Snake II in our free time (let’s be honest, Snake II was THE bomb at that particular time) with battery span that would not make us experience a panic attack at least once a day, in comparison to the present day.

Then came the invention of smartphones that comes with its pros and cons. Whether we like it or not, we need to embrace the invention that created the term tech-savvy; individuals who are well informed about or proficient in the use of modern technology, especially computers[2]. With the invention of smartphones, comes other inventions that enable us to easily communicate with people on the other side of the world via Skype, FaceTime, WhatsApp, Telegram, WeChat, Facebook, Instagram and the list goes on and on.

It is a fact that technology is now everywhere and it is changing our lives in a way that we could have not imagined 10 – 15 years ago. This rapid development of technology has brought some positive changes and has broaden our horizon as we now can communicate in a global village that has enabled us to reach to any part of the world with the tip of our finger anytime, anywhere. Technology has also changed the business landscape and how we do business.

Going Digital and maybe, beyond?

At one point in our lives, we wished to own a Doraemon pocket where we can fill everything we want inside the pocket and have easy access to whatever we need at any particular moment. Isn’t that what smartphone currently is to us? We snap pictures, listen to music, do online banking, keep track on our calories intake, Google anything we do not know and etc. all via our smartphones.

The invention of smartphones comes with the invention of a lot of applications or famously called as ‘apps’ and there are a lot of apps that range from the most useful to the most ridiculous ones. Digital, according to Karel Dörner and David Edelman should be seen less as a thing and more a way of doing things[3]. All companies acknowledged on the benefit and importance of going digital and to date, there are various apps available in the App Store to entice customers and enhance their experiences. However, is that it?

Digital Marketing: Yay or Nay?

Digital marketing can be defined as the promotion of products or brands via one or more forms of electronic media. It differs from traditional marketing as it involves the use of mediums and methods that enable an organization to analyze marketing campaigns and understand what is working and what is not, often in its real time[4]. The advancement of technology has made digital marketing more vital than before.

The Generation Gap

It is a confusing time for businesses in terms of marketing. The development of technology has created a gap between generations in how they acquire information, acceptance towards traditional & new marketing, level of brand loyalty and flexibility. There are four important generations in marketing[5]:

nokia_chart

It can be seen tech-savvy generation started with Gen Y or The Millennials. However, currently, the money lies in Gen X where their purchasing power are higher than Gen Y. Despite that, our future target market, Gen Z are expected to be more tech-savvy than the previous generations.

Therefore, is it the end of an era for marketing where traditional marketing is becoming less relevant and digital marketing is becoming more relevant and vital? Should we conquer both traditional and new marketing without abandoning the importance of having baby boomers as our customers? Or should we go for digital marketing which the new generations are very fond of and the fact that our attention span is shorter than a goldfish?

Key Messages

1. Be Open to Technology

For any companies, whether we like it or not, our future target market are tech-savvy individuals who look forward for the most practical and simplest thing in life as they are born after the Internet. Despite that, our current customers where the money is, Gen X are open to new technology and embrace it.

2. Positive sentiment towards future target market

In addition, it is important for us to go digital in order to secure our future target market who are still neutral from typical sentiment. We can build and project a new image of our future target market by leveraging on what their preferences are and embark on an effort to fulfill it.

3. Building brand loyalty via digital marketing

In order for any businesses to build brand loyalty among younger target market, it is vital for us to keep on engaging with them through the medium and method of communication that speaks to them the most. Keep in mind that they are the most educated generation to date and that makes them technology and information savvy. Therefore, digital marketing could be the key to their hearts.

4. Innovation is key

Innovation does not necessarily means coming up with new products that do not exists in the market yet. Innovation can come from the way we do things or the service that we offer to complement our products. Technology can be the catalyst towards enhancing customer experience and we just need to find how it will serve our businesses.

[1] http://www.techradar.com/news/phone-and-communications/mobile-phones/nokia-s-3310-the-greatest-phone-of-all-time-1287636
[2] http://www.oxforddictionaries.com/definition/english/tech-savvy
[3] http://www.mckinsey.com/industries/high-tech/our-insights/what-digital-really-means
[4] http://www.sas.com/en_sg/insights/marketing/digital-marketing.html
[5] Journal of Behavioral Studies in Business: Marketing to the Generations by Kaylene C. Williams & Robert A. Page

219-slide PowerPoint presentation
Unlocking the Future of Supply Chain Management with AI and Blockchain Introduction Welcome to the comprehensive guide on revolutionizing Supply Chain Management through the power of Artificial Intelligence (AI) and Blockchain technology. This strategy paper, presented across a massive [read more]

Want to Achieve Excellence in Digital Transformation?

Gain the knowledge and develop the expertise to become an expert in Digital Transformation. Our frameworks are based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. Click here for full details.

Digital Transformation is being embraced by organizations of all sizes across most industries. In the Digital Age today, technology creates new opportunities and fundamentally transforms businesses in all aspects—operations, business models, strategies. It not only enables the business, but also drives its growth and can be a source of Competitive Advantage.

For many industries, COVID-19 has accelerated the timeline for Digital Transformation Programs by multiple years. Digital Transformation has become a necessity. Now, to survive in the Low Touch Economy—characterized by social distancing and a minimization of in-person activities—organizations must go digital. This includes offering digital solutions for both employees (e.g. Remote Work, Virtual Teams, Enterprise Cloud, etc.) and customers (e.g. E-commerce, Social Media, Mobile Apps, etc.).

Learn about our Digital Transformation Best Practice Frameworks here.

Readers of This Article Are Interested in These Resources


85-slide PowerPoint presentation
This presentation is a collection of PowerPoint diagrams and templates used to convey 20 different digital transformation frameworks/models. (Please note that these are diagrams and charts that are to be used in your own business or classroom presentations. These are not instructional [read more]


 
206-slide PowerPoint presentation
 
 
27-slide PowerPoint presentation

About Aizuddin Che Mansor

Aizuddin Che Mansor is a Business Analyst of Strategy Division, PETRONAS Dagangan Berhad. He is also an entrepreneur involving in small business and consulting services for SME. He holds Master of Business Administration (MBA) from Cardiff Metropolitan University (UK). He has been involved in oil & gas industry for more than 8 years. He wrote regularly for PETRONAS Dagangan Berhad’s Strategic Insights publication – focusing on strategic matters impacting the company. He is also a Certified Data Analysis Professional awarded by KPI Institute. You can connect with Aizuddin here on LinkedIn.

,





Complimentary Business Training Guides


Many companies develop robust strategies, but struggle with operationalizing their strategies into implementable steps. This presentation from flevy introduces 12 powerful business frameworks spanning both Strategy Development and Strategy Execution. [Learn more]

  This 48-page whitepaper, authored by consultancy Envisioning, provides the frameworks, tools, and insights needed to manage serious Change—under the backdrop of the business lifecycle. These lifecycle stages are each marked by distinct attributes, challenges, and behaviors. [Learn more]

We've developed a very comprehensive collection of Strategy & Transformation PowerPoint templates for you to use in your own business presentations, spanning topics from Growth Strategy to Brand Development to Innovation to Customer Experience to Strategic Management. [Learn more]

  We have compiled a collection of 10 Lean Six Sigma templates (Excel) and Operational Excellence guides (PowerPoint) by a multitude of LSS experts. These tools cover topics including 8 Disciplines (8D), 5 Why's, 7 Wastes, Value Stream Mapping (VSM), and DMAIC. [Learn more]
Recent Articles by Corporate Function

  

  

  

  

  


The Flevy Business Blog (https://flevy.com/blog) is a leading source of information on business strategies, business theories, and business stories. Most of our articles are authored by management consultants and industry executives with over 20 years of experience.

Flevy (https://flevy.com) is the marketplace for business best practices, such as management frameworks, presentation templates, and financial models. Our best practice documents are of the same caliber as those produced by top-tier consulting firms (like McKinsey, Bain, Accenture, BCG, and Deloitte) and used by Fortune 100 organizations. Learn more about Flevy here.


Connect with Flevy:

     
  


About Flevy.com   /   Terms   /   Privacy Policy
© . Flevy LLC. All Rights Reserved.