In 2014 the share of total global media spend that comes from digital will total 23.4%, rising to 26% by 2016, according to eMarketer; showing that the digital growth trajectory is still strong.
The challenge set out is for companies to upskill so that their media and marketing operations remain fit for a digital world.
If brands are to share in the on-going growth and opportunity presented by this shift, they must plug the knowledge deficit, according to The Knowledge Engineers.
Changes in consumer behaviour require new ways of thinking to be able to reach customers at the right place, at the right time, with the right message.
Five points which will help drive brands towards plugging this gap have been outlined by The Knowledge Engineers:
Firstly, brands need to develop a capability strategy and set out a clear vision for the type of business they want to be. The second stage is working out where the gap is by understanding where knowledge needs to be versus how digitally mature the business is. Thirdly a brand or agency needs to work out what the priority hires are and fourthly it’s crucial to build the right culture. The final step is securing the right budget to make this change.
To ensure you can plug this deficit in your business, find out how The Knowledge Engineers can get you ready for 2014 now.