Published on March 15, 2014
Transition of Business to Digital Aditya D'souza
Digitization and its impact on business: • The first basic need of any business today is to create its own web presence by developing its Company Website. • Website today is considered as a virtual extension of any business and create a global presence at minimum investments. • There are companies who have started tapping global business opportunities from a single domestic office. • It help companies exchange their service expertise via internet and support local businesses e.g. Reseller Accounts, Taking Agency etc. • Competition analysis has become very easy due to various Social Media platforms. • Brands find gaps/mistakes in other competitors communication and takes advantage of it to reach its TG positively
Is there a need to change? • Yes as the market scenario is changing so drastically there is no other option but to go Digital • If any brand doesn't have its presence on Digital platform for me the Brand doesn't exists • Latest surveys shows that people spend 4-5 hours everyday on internet and they don't have time to watch TV • Not only is there a need to change but also it is very essential to have a proper plan in place
Would you increase resource in Digital in next 12 months? • I look at it from my investment perspective and depending upon the companies future plans a company has 2 options according to me: • Option 1: To outsource its Digital work to a third party • Option 2: To recruit its own employees • In both the above options it is either directly or indirectly increasing job opportunities and increasing its resource requirements.
Would you advertise in the next 12 months? • Advertising on Digital platform has plenty of options and it is one of the most cost effective advertising option available today to reach out to the educated masses. • So yes if I am targeting the educated masses then I would choose to advertise on the Digital platform or else I would choose other traditional media vehicles to reach my TG. • Also, it also purely depends upon the status of my business I am owning as it is very hypothetical to consider Ad spends without any basic objectives.
What would spend %age be? • Looking at all the biggies who have increased their Digital spends from 3-4 % of their overall Mktg Budget to now almost 12-15% so I feel if in my business if I plan for a Mktg Budget I would keep the spend % to be 10 - 15 % again depending upon the size of the business it will change.
What is the biggest barrier in adopting Digital in organization? • The entire employee strength of the organization is not grown up seeing the Digital transformation unlike today's young generation. • The biggest barrier for me I feel is the oldies who are at senior management levels who find it difficult to adopt to complete Digitization as quickly as a 4th Gen person.
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