For Advertising Success, Awareness Leads the Way

Image source: Adobe Stock / Hurca!

by Manu Malhotra

posted on 05-22-2019

An estimated whopping $300B+ digital dollars will be invested in advertising globally in 2019. Top industries that drive this spend are retail, auto, and financial services. There is no dearth of trust in the capability of digital advertising investment globally. The promise digital advertising dollars bring is unequivocally high, however, some challenges stand in the way of realizing value from these large-scale advertising investments.

Common challenges faced by retail, auto, and financial services today as they stay invested in digital advertising are:

Experiencing a blurred view of customers and their journey across screens and channels.

To address these challenges, organizations need to introspect and look inward at how are they placed in an ever-evolving ecosystem that is changing rapidly.

The CTO, CMO, CIO, CDO, and CFO need to collaborate more than ever before across functions in the organization for one single reason — and that is customers today expect brands to know their preferences and provide delightful experiences. The first step toward providing delightful experiences is awareness — what state is the organization collectively in? It might involve asking some tough yet important questions, such as:

Answers to these profound questions, mostly, lead the organization onto a digital transformation journey to define the goal, launch the change management program, and scale up. However, the first and the most critical element in this journey is awareness — how aware the organization is about its digital setup. Do the CXOs strongly believe they have the right digital setup to address the above-mentioned challenges?

As Nathaniel Branden said, “The first step towards change is awareness. The second step is acceptance.” It is this awareness that will lead the way, a point solution approach will hardly be able to help transcend the current experience to the desired experiences that customers expect.

The missing links that be stitched through organizational awareness are:

Once these missing links are catered to, organizations will transcend the average customer experience to delightful experiences at every touchpoint. And in this journey, awareness will lead the way!

Topics: Digital Transformation, Advertising

Products: Advertising Cloud