A recent Forester study highlights a fundamental paradox faced by senior management:
“Today’s executives know digital is a threat. More than 90% of global business executives believe digital will disrupt their business in the next 12 months, and nearly 75% are taking action with a digital strategy, yet only a third of executives believe that their approach to digital is correct.”
In this complex and ever changing global digital business environment, executives face a number of such paradoxes that, if not addressed, threaten to stymy growth and handicap future sustainability:
- Literacy Paradox – Digital is being adopted at an exponential rate by consumers, but more than half of CMOs admit they are not technically or analytically prepared to address this opportunity.
- Marketing Paradox – Traditionally, marketing has operated in its own independent silo and has been focused on customer acquisition and engagement; now its functions and technologies are beginning to pervade all aspects of the organization, requiring an Integrated Digital Marketing Strategy.
- Content Paradox – The idea of transmitting digital content openly and transparently contrasts with the interests of the entrenched executive focused on controlling the message and its distribution.
- Organizational Paradox – Executives expect digital to transform their companies, but their organizations are not structurally or prepared for the speed and complexity of this change.
- Sustainability Paradox – Some two-thirds of organizations consider sustainability a significant issue, yet a only small percentage have fully implemented sustainability initiatives; many more have not incorporated such initiatives into their strategic planning.
- Performance Paradox – As a rule, businesses with superior performance (in terms of sales or revenue) feel better prepared for digital transformation and have invested more resources in digital marketing than lower performers.
The resolution of these paradoxes is vital to the competitiveness and sustainability of current and future organizations. Kaufman and Horton have launched Digital Marketing: Integrating Strategy and Tactics with Values suggesting practical solutions to these paradoxes challenging the business landscape and preparing executives for digital transformation.
Make no mistake, the Digital Tsunami is coming. Digital Marketing will provide the insights and tools for executives and managers to navigate their way through it.
Hover over the zapcode to discover the basics of the Digital Marketing guidebook. Click here for the Executive Guide, “From Traditional Business to Digitally Integrated Organization.”