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25 March 2015 Copyright © Econsultancy Impact of Digital Transformation in the Media and Entertainment Sector In association with Adobe Linus Gregoriadis [email protected]
Transcript
Page 1: Econsultancy- Impact of Digital Media

25 March 2015 Copyright © Econsultancy

Impact of Digital Transformation in the

Media and Entertainment Sector

In association with Adobe

Linus Gregoriadis

[email protected]

Page 2: Econsultancy- Impact of Digital Media

Professor Richard Foster, Yale University

econsultancy.com/transformation

Only 63% of S&P 500

companies a decade ago are

still in the index

The context for digital transformation

Page 3: Econsultancy- Impact of Digital Media

25 March 2015 3

Econsultancy digital transformation maturity model

Emergent Managed Optimised

Change

management, KPIs

Digital capability development

not central to organisational

strategy/KPIs

Strong digital vision and

strategy, organisational

priorities/KPIs change

Digital vision lived through

leadership and operations,

top-down bottom-up, agile and

adaptive strategy

Data and

technology

Siloed data sources, basic

analysis tools, technology

restricts, legacy platforms

Software-as-a-service tech,

multichannel, joining up data,

basic modelling

Joined-up data/tech

empowered front line staff,

customised dashboards,

scalability of the cloud,

actionable modelling,

integrated digital and

online/offline, real-time

decisions

People, teams,

culture

Isolated knowledge, vertical

skillsets, poor training

CoE, specialists and

generalists, tech skills, more

fluid structures, collaborative

environment

T-shaped, deep knowledge,

human layer over tech,

knowledge sharing, highly

fluid/collaborative, agile

culture

Working practices,

processes, tools

Rigid structure, waterfall

project mgt, infrequent release

cycle

Agile development, SCRUM,

test and learn, rapid

prototyping and build

Interdisciplinary agility, cross-

functional, small, nimble

teams. Permission to fail.

Entrepreneurial

Page 4: Econsultancy- Impact of Digital Media

About the survey…

• Global survey of nearly 200 media and entertainment

executives based mainly in North America and EMEA

• Focused exclusively on global media and entertainment

brands with video and publishing assets

25 March 2015 4

Page 5: Econsultancy- Impact of Digital Media

97% of companies acknowledge that digital

technology has disrupted their sector

25 March 2015 5

44% 44%

9%

3%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

We are leading theway and are part of

the digital disruption inour sector

We are underpressure to evolve

and adopt emergingtrends and business

models

We are threatened bydisruptive forces inour sector and are

seeking ways to meetthese challenges

We don’t see much change in our sector,

either from established or

emerging competitors

Econsultancy / Adobe Impact of Digital Transformation in the Media and Entertainment Sector

Page 6: Econsultancy- Impact of Digital Media

44% of companies say they are blazing a trail

25 March 2015 6

44% 44%

9%

3%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

We are leading theway and are part of

the digital disruption inour sector

We are underpressure to evolve

and adopt emergingtrends and business

models

We are threatened bydisruptive forces inour sector and are

seeking ways to meetthese challenges

We don’t see much change in our sector,

either from established or

emerging competitors

Econsultancy / Adobe Impact of Digital Transformation in the Media and Entertainment Sector

Page 7: Econsultancy- Impact of Digital Media

MEDIA AND THE NEW

DIGITAL ORGANIZATION

25 March 2015 7

Page 8: Econsultancy- Impact of Digital Media

Key characteristics of a successful media organisation

• Organisational alignment and integrated

marketing

25 March 2015 8

Page 9: Econsultancy- Impact of Digital Media

Key characteristics of a successful media organisation

• Organisational alignment and integrated

marketing

• Culture of testing and learning

25 March 2015 9

Page 10: Econsultancy- Impact of Digital Media

Key characteristics of a successful media organisation

• Organisational alignment and integrated

marketing

• Culture of testing and learning

• The right tech to support revenue growth

25 March 2015 10

Page 11: Econsultancy- Impact of Digital Media

Key characteristics of a successful media organisation

• Organisational alignment and integrated

marketing

• Culture of testing and learning

• The right tech to support revenue growth

• IT keeps pace with required change

25 March 2015 11

Page 12: Econsultancy- Impact of Digital Media

Key characteristics of a successful media organisation

• Organisational alignment and integrated

marketing

• Culture of testing and learning

• The right tech to support revenue growth

• IT keeps pace with required change

• Holistic view of audience

25 March 2015 12

Page 13: Econsultancy- Impact of Digital Media

Fewer than half of companies have these characteristics

25 March 2015 13

45% 45%

39% 38%

34%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

We have a cultureof testing and

experimentation

We have thenecessary

technologies tosupport revenue

growth

We have anintegrated

organizationalstructure (we have

minimized thesilos across our

organization)

Our IT keeps pacewith rapid change

within ourbusiness

We have a holisticview of audience

Econsultancy / Adobe Impact of Digital Transformation in the Media and Entertainment Sector

Page 14: Econsultancy- Impact of Digital Media

ORGANISATIONAL

STRUCTURE &

ALIGNMENT

25 March 2015 14

Page 15: Econsultancy- Impact of Digital Media

25 March 2015 15

01 UNCONVINCED

Board are not persuaded of

the merits of digital

investment

Digital

transformation

Board buy-in

02 CONVINCED, LOW KNOWLEDGE

Board are convinced of the importance of digital but

effective prioritisation of investment can be an

issue

03 GOOD KNOWLEDGE, ENGAGEMENT

Board are fully involved, making informed

decisions, regularly updated but digital still

separate

04 FULLY INTEGRATED

Digital is a fully integrated part of

wider business decision-making

Page 16: Econsultancy- Impact of Digital Media

25 March 2015 16

Securing

executive

support 77%of marketers

describe this

as a challenge

Page 17: Econsultancy- Impact of Digital Media

25 March 2015 17

Cross-functional alignmentis a challenge for 93% of media companies

93%of media companies

Page 18: Econsultancy- Impact of Digital Media

The majority have an understanding of top-line

business KPIs…

25 March 2015 18

30%19%

34%

28%

36%

53%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Our organization isn’t agile enough to be effective given today’s fast-changing consumer access

choices

Our organization doesn’t have a broad enough understanding of our topline business KPIs

Econsultancy / Adobe Impact of Digital Transformation in the Media and Entertainment Sector

Key challenge Minor issue Not an issue

Page 19: Econsultancy- Impact of Digital Media

…but agility is a key concern

25 March 2015 19

30%19%

34%

28%

36%

53%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Our organization isn’t agile enough to be effective given today’s fast-changing consumer access

choices

Our organization doesn’t have a broad enough understanding of our topline business KPIs

Econsultancy / Adobe Impact of Digital Transformation in the Media and Entertainment Sector

Key challenge Minor issue Not an issue

Page 20: Econsultancy- Impact of Digital Media

DIGITAL MARKETING

TECHNOLOGY

25 March 2015 20

Page 21: Econsultancy- Impact of Digital Media

25 March 2015 21

85%

Percentage of media companies who cite

tech requirements, processes & systems,

and compatibility as challenges

Page 22: Econsultancy- Impact of Digital Media

Digital marketing technologies – plans to adopt

25 March 2015 22

10%

12%

15%

15%

17%

18%

18%

18%

19%

21%

24%

25%

Video advertising and analytics

Testing and optimization

Social media measurement

Attribution management

Marketing mix modeling

Content management system

Asset management

Web / mobile analytics

Marketing automation

Data management platform / audience management

Multichannel campaign management

Personalization

Econsultancy / Adobe Impact of Digital Transformation in the Media and Entertainment Sector

Page 23: Econsultancy- Impact of Digital Media

3 in 5 media companiesare either using testing and optimization technology (47%)

or planning to adopt it in the next 12 months (12%)

25 March 2015 23

Testing and optimisation

Page 24: Econsultancy- Impact of Digital Media

Biggest targeting challenge: lack of integrated data

across platforms/systems

25 March 2015 24

50%

40%38%

27%

23%

0%

10%

20%

30%

40%

50%

60%

Lack of integrateddata across

platforms/systems

Privacy issues tyingthird-party data to

first-party data

Lack of automationfor audience

measurement

Insufficient volumeand differentiation

of data for accuratetargeting

Inadequateresources to

purchaseappropriatetechnology

Econsultancy / Adobe Impact of Digital Transformation in the Media and Entertainment Sector

Page 25: Econsultancy- Impact of Digital Media

More than a third planning to implement DMP

25 March 2015 25

37%

31%

21%

6%5%

0%

5%

10%

15%

20%

25%

30%

35%

40%

We areimplementing a

DMP in the next 12months

A DMP is the plan,but not in the next

12 months

We are not sold onthe benefits

Not relevant to ourbusiness

Other

Econsultancy / Adobe Impact of Digital Transformation in the Media and Entertainment Sector

Page 26: Econsultancy- Impact of Digital Media

US organizations are nearly twice as likely as their EMEA

counterparts to implement a DMP in the next 12 months

25 March 2015 26

44%

23%24%

5% 5%

26%

46%

15%

8%5%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

We areimplementing a

DMP in the next 12months

A DMP is the plan,but not in the next

12 months

We are not sold onthe benefits

Not relevant to ourbusiness

Other

Econsultancy / Adobe Impact of Digital Transformation in the Media and Entertainment Sector

Page 27: Econsultancy- Impact of Digital Media

CULTURE OF LEARNING

AND TESTING

25 March 2015 27

Page 28: Econsultancy- Impact of Digital Media

Only 4 in 10 media companies are ‘driven by data

and experimentation’

25 March 2015 28

38%

31%

25%

6%

0%

5%

10%

15%

20%

25%

30%

35%

40%

We are driven by dataand experimentation

We make most of ourdecisions via

committee/consensus

We aspire to being adata-driven organization,but are still largely led by

C-level imperatives

We are almost entirelydriven by C-level

imperatives, with little orno movement towarddata-driven decision

making (HIPPO)Econsultancy / Adobe Impact of Digital Transformation in the Media and Entertainment Sector

Page 29: Econsultancy- Impact of Digital Media

25 March 2015 29

Top priorities

+Content User experience

Page 30: Econsultancy- Impact of Digital Media

Leveraging data and analytics to make marketing

decisions is a ‘huge’ or ‘significant’ challenge for over

half of companies

25 March 2015 30

54%31%

15%

Econsultancy / Adobe Impact of Digital Transformation in the Media and Entertainment Sector

Huge or significant challenge Slight challenge Not a challenge

Page 31: Econsultancy- Impact of Digital Media

Data-driven product development: majority are trying to

develop capability with only a third already possessing it

25 March 2015 31

33%

50%

16%2%

Econsultancy / Adobe Impact of Digital Transformation in the Media and Entertainment Sector

Current capability Working on capability Planning to have capability No plans

Page 32: Econsultancy- Impact of Digital Media

25 March 2015 32

Don’t have the analytics skills to optimise

their content and experiences

2/3

Page 33: Econsultancy- Impact of Digital Media

LOOKING AHEAD

25 March 2015 33

Page 34: Econsultancy- Impact of Digital Media

25 March 2015 34

Most important trends

to influence media organisations74%

62%55%

49%

41%

18%

1 2 3 4 5 6

1

2

3

4

5

6

Use of data to deliver unique

experiences

Personalised customer experiences

Cross-channel customer communication

Social-centric content

Mobile-first

Programmatic advertising

Page 35: Econsultancy- Impact of Digital Media

25 March 2015 35

Personalisation is the future

Page 36: Econsultancy- Impact of Digital Media

Summary

• Organisational alignment and integrated

marketing

• Culture of testing and learning

• The right tech to support revenue growth

• IT keeps pace with required change

• Holistic view of audience

25 March 2015 36

Page 37: Econsultancy- Impact of Digital Media

Thank you!

Download the full reporthttps://econsultancy.com/reports/impact-of-digital-transformation-in-the-media-and-entertainment-sector/

3725 March 2015


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