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

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

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]   What does it take to achieve Operational Excellence? Read this guide and learn to build an integrated Business Execution System from Six Sigma Master Black Belt Frank Adler, co-founder of Operational Excellence Consulting. [Learn more]
The Fiaccabrino Selection Process (FSP) is a proven methodology for increasing sales and reducing turnover, developed by "Mr. Roche," Charles Fiaccabrino. Mr. Fiaccabrino is a Sales Executive with over 50 years of experience. [Learn more]   Learn this time-tested approach to Change Management authored by Ron Leeman, recipient of the Change Leader award by the World HRD Congress in 2012. Ron Leeman has been Change, Process and Project professional since 1974. [Learn more]
Recent Articles by Corporate Function

  

  

  

  

  


The Flevy Business Blog (http://flevy.com/blog) is a leading source of information on business strategies, business theories, and business stories. Most articles have been contributed for management consultants and industry executives with over 20 years of experience. If you would like to contribute an article, please email our editor David Tang at [email protected].

Flevy (http://flevy.com) is the marketplace for premium business documents, such as management frameworks, presentation templates, and financial models. Our documents are of the same caliber produced by top tier consulting firms, like McKinsey, Bain, Accenture, BCG, and Deloitte. Learn more about Flevy here.


Connect with Flevy:

   
  


About Flevy.com   /   Terms   /   Privacy Policy
© 2015. Flevy LLC. All Rights Reserved.