Our latest Managing Digital Marketing Research report showed that many businesses are actively pursuing Digital Transformation with over one-quarter (30%) of businesses already having a transformation programme in place. 33% are planning to start a digital transformation programme within the next 12 months.
By its very nature, successful digital transformation requires significant changes to diverse areas including marketing, technology, and skills. This new July article from the McKinsey Quarterly highlights a range of challenges according to a survey of senior respondents in large businesses. It's useful since it highlights the main risks that need to be managed in a transformation project:
The biggest challenge featured as the headline and recommendations of the McKinsey article is not digital-specific, but relevant to any large change management project, i.e. Cultural and Behavioural changes.
The other challenges noted are less surprising, these include marketing technology suggested by lack of IT infrastructure; lack of digital marketing skills and talent, creating the right structure and processes.
The high rating of 'lack of understanding of digital trends' as a challenge is surprising since there is a lot of information available on these relating to new business models, changing consumer technology adoption such as smartphones and techniques such as Machine Learning and AI for Marketing. Perhaps the real challenge here is prioritizing where investments in digital marketing and technology will have the biggest impact.
By Dave Chaffey
Digital strategist Dr Dave Chaffey is co-founder and Content Director of online marketing training platform and publisher Smart Insights. 'Dr Dave' is known for his strategic, but practical, data-driven advice. He has trained and consulted with many business of all sizes in most sectors. These include large international B2B and B2C brands including 3M, BP, Barclaycard, Dell, Confused.com, HSBC, Mercedes-Benz, Microsoft, M&G Investment, Rentokil Initial, O2, Royal Canin (Mars Group) plus many smaller businesses. Dave is editor of the templates, guides and courses in our digital marketing resource library used by our Business members to plan, manage and optimize their marketing. Free members can access our free sample templates here. Dave is also keynote speaker, trainer and consultant who is author of 5 bestselling books on digital marketing including Digital Marketing Excellence and Digital Marketing: Strategy, Implementation and Practice. In 2004 he was recognised by the Chartered Institute of Marketing as one of 50 marketing ‘gurus’ worldwide who have helped shape the future of marketing. My personal site, DaveChaffey.com, lists my latest Digital marketing and E-commerce books and support materials including a digital marketing glossary. Please connect on LinkedIn to receive updates or ask me a question.
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