There’s a certain fixation in my approach towards things to get the basics right. Yup, the Basics takes us to the correct definition of Digital Media which is best defined as, “The creative convergence of digital arts, science, technology and business for human expression, communication, social interaction and education“.
To start things, digital Media has an enriching past proven with records and the future looks brimming with sunshine. But, for the sunshine to reach us, the sun rays need to be strong enough to penetrate the layers in between. For a better analogy, there are lot of constraints, where-in de-bottle necking is required with proper strategies and planning. The Economic Recession has hit European and American markets pretty hard and the countries which have managed to do well are India and China. The talent lies over here and it is high time we plan in the future and invest in areas where talent capturing is the supreme focus for companies.
The other thought about here is how do we sell Digital Media to countries where-in people are slow to adopt it; the perfect examples being India & China again. Andrew J. Swinand, President, Global Operations, at Starcom MediaVest Group, the media agency of the Publicis Groupe says, “Today, the digital market is around 4% of the total advertising spends. I believe it is way-way under-invested relative to consumer usage. We are actively encouraging our clients to increase their digital investment and take the leadership role. We like to think about digital as lead preference media where consumers learn about products“. On being asked about the future of the industry looking bleak as the margins are on a decline, here is what Andrew said, “I disagree. With standard buying services, you are in the commodity industry. I believe there is a high-margin and high-value market. We are investing in social behaviour and consumer track studies. We charge a premium and clients are willing to pay because it drives their bottomlines“.
Indeed Thought provoking.
I think the future of this Digital Media might have some trends in the future, on lines of the evolution of industries. This thought is very well reciprocated and explained by Jonathan Briggs, Professor of e-Commerce at Kingston University and Co-Founder of Hyper Island in this video. The main jargon which needs to be worked out to the best of its meaning to give this industry the perfect shape in the future is “Technological Convergence“.
There are other issues too, such as HR or Mobile Marketing, but the fact of the matter lies in the proper addressal of these issues and correct implementation of idea-led planning.
The key lies – Locate Talent, Hire them, Freeze an Idea, Test it, Market it and Enjoy the Success in the Future.
Ain’t it simple? Don’t ask me.
