The Economic and Social Impacts of Australia’s Digital Future

Today social media and digital marketing are a routine part of any marketers conversation. But the impacts of the digital age will be far greater than the marcom’s sphere.  Last week “A Snapshot of Australia’s Digital Future to 2050″ was released. This detailed report provides some insights into the economic, industry and societal impacts to be expected in Australia, from the availability of ubiquitous high speed broadband and advanced IT capabilities.

The report was written by Phil Ruthven, Founder and Chairman of IBISWorld and commissioned by IBM. But before I continue, I encourage you to watch this short video of Phil Ruthven on the report.

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Some of the highlights of the report:

  • Demise of industries – Australia will see the demise of 15 industries including Free-to-Air Television Broadcasting, Newspaper Publishing and Motion Picture Exhibition. This is going to change the way we market.
  • Productivity and growth – The new utility will see significant productivity and growth opportunities emerge in the services industries – such as health care and education.
  • Reshaping employment – It is predicted that the current way we work and are ‘employed’ will see a dramatic change.

Now, what are the implications for marketers?:

  • New media landscape – As we have seen over the last week the Australian media landscape is continuing to rapidly evolve.
  • New business opportunities –  All industries will be impacted in some way with opportunities and threats. New business models, new routes to market and new offerings.

What do you see as a further implication for marketers? Let’s discuss on my twitter account

For more information on the report please explore the following options:

CMO’s to step up to CEO Priorities

IBM recently launched the findings of its 2012 CEO Study. This work brings together the insights of 1700 CEO’s from around the world.

I thought it would be of interest to review the key findings of the study and assess their implications for CMO’s. Given these are our bosses we probably should pay attention!

In the pages worth of findings, the CEO Study Executive Summary highlights the three key recommendations:

  1. Organisations need to empower employees through values
  2. Engage customers as individuals
  3. Amplify innovation with partnerships

So, what does this mean for CMO’s? Good question. Here are some thoughts on the implications for CMO’s and the greater marketing function.


Organisations need to empower employees through values

The study finds that open organisations outperform those who operate under tight command and control regimes. But openness and flexibility come with risk. To minimise this risk organisations need a strong sense of purpose and shared beliefs to guide decision making.

For example, if you are a brand custodian with have internal and exec communications as part of your responsibilities you will understand the importance of collaboration. The most impactful communication pieces are built bearing in mind the need to develop a strong link between the executive team and all employees; highlighting the company values, and when followed how they enable success. Whilst these activities do not create culture, they can certainly provide clarity and inspire employees to consider “this is who we are and this is what we can achieve when we operate at our best”.

 

Engage customers as individuals
The second recommendation clearly has a strong marketing context. To engage customers as individuals you need to utilise the data an organisation has on hand, and potentially more data that they may not currently collect. But the real challenge is how to best use all this data. Some key ways are by employing analytic (internal and 3rd party) and campaign tools for targeting and segmentations, as well as “sense and respond” processes that integrate client engagement across channels and touch points. The objective is to enable marketing as a service based on deep client insights.

 

Amplify innovation with partnerships
We all see, and know through experience, that the marketing world is transforming. Rapidly.

Bringing innovation into our marketing is the only way keep up and/or ahead – and engagement with third parties is a bona fide way to driving this innovation. Third parties bring specialist capabilities that “in house” teams find hard to match. The key to achieving value from partnerships is the spirit of collaboration, clarity of your brand essence and a clear set of objectives for any activities.

 

I hope these thoughts have been of interest to you and sparked further interest in the report.

But don’t just take my word for all of this – download a copy of the report yourself from ibm.com/ceostudy2012 and share your own thoughts, opinions and let’s discuss what you found most insightful.

2011 almost done and dusted

christmas2012

2012 looming large on the horizon.  Bring it on ….  after a short break  :) As we rush headlong toward the last two weeks of the 2011, I’ve been reflecting on the year that’s just passed, deciding on the highlights for our marketing department, the challenges we’ve faced and trying to ascertain what’s on the [...]

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Getting everyone on the same page

integration_puzzle

Continuing on from last week’s blog and my conversation with Kelly about our social intelligence monitoring, one of the biggest challenges has been getting everyone up to speed. It’s been quite an operation, according to Kelly, who expects it will continue to be a learning curve for some time yet. “Companies absolutely understand and appreciate [...]

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Listening out for what people are saying about us

Boy with his finger on the dial

For most of this year we’ve been involved in a social intelligence program to gain an extensive audit of our social media and digital assets and general brand perceptions. We’ve recorded, evaluated and studied tens of thousands of conversations and data from Australia and New Zealand to give us that big picture view of the [...]

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A whistle-stop tour of New Zealand to present the CMO study

CMO Study MA Panel Capabilities Question Results - Image for Blog 2

The road show for the roll-out of our Global CMO Study continues – this week it was New Zealand to host a breakfast on Wednesday in conjunction with the New Zealand Marketing Association, chaired by the association’s chairwoman Debra Hall. Michael Friedberg, the head of marketing & communications of IBM New Zealand presented a summary [...]

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