Is Evolution Enough to Stay Relevant in the New Digital Economy? Or Is the Revolution Required? – Panel Discussion 2|3 at the London PreCommerce Summit
Together with panelists Steven Overman, CMO at Eastman Kodak, Simon Shipley, Marketing and Innovation Manager at Intel, and Steve Milton, Consultant and Former Corporate Communications director at eBay, Bob Pearson investigates whether evolution is enough to stay relevant in the new digital economy.
There’s a clear need to embrace digital, but do we need to learn more about it before we start our digital agenda to ensure we do it right?
For Bob’s panelists digital is actually something that needs to be part of the mindset of an organization in order to be successful and impactful. Since the nature of the digital world is dynamic and not stable, we need to start acting, but also remain nimble to be able to respond to changes in the future.
Part of our digital transformation should also be a reevaluation of familiar questions: How do global brand behave in local markets? Do we position ourselves as the known and trusted international brand or do we adapt to local needs? Navigating between the waters of global and local has always been a challenge for companies, but when it comes to digital the core question actually diminishes – there is no local. However, we have to think through more tactical implications such as various languages, servers or how we handle e-commerce fulfillment. We are trying to behave in a unified way, but have to figure out how those things can actually be executed.
Another key question in digital is whether or not e-commerce is becoming channel and platform agnostic by integrating the ability to sell and buy into our social channels. It is actually not a question of if, but rather when we see this development, thinking about markets like China, where the integration of the marketplace into the social world is already reality.
So what can online marketing tech companies do to be more relevant and valuable? With a lot of change we need to have a scientist’s mindset, being curious, trying out new things and failing fast, which is not failure, but a way to gain new insights. Most importantly we need to listen of what people care about and can no longer assume we know.