Today, I’m proud to announce the release of Altimeter Group’s second report on Digital Transformation. This new report is aimed at executives and digital strategists to help them (you) further understand the state of digital transformation as you plan your next steps and investments.
In our initial report, “Digital Transformation: Why and How Companies are Investing in New Business Models to Lead Digital Customer Experiences (DCX),” we learned that digital transformation was as much about technology as it was about people. It was a much more human story, one that shared insights, advice and cautionary tales from those on the front lines.
In discussions about new media, you will often hear the division of media opportunities as Paid, Owned, and Earned media (P.O.E.M.). Over the years, I’ve studied the various categorization of media from a few perspectives, 1) that of traditional content creation, owners, budgets, and metrics, 2) how social networks cater to consumption and sharing, 3) how progressive businesses are approaching content strategies in social media and how they’re rethinking departments, intentions, metrics, and budgets, and 4) also how media opportunities are packaged and sold by each network and who’s buying them and why. In many cases, I’ve found that media is not limited to three groups, but instead categorized into five key segments: Paid, Promoted, Owned, Shared, and Earned. To visualize the model that reflects the state of new media, I once again partnered with my good friends at JESS3. The result…The Brandsphere.
Social media is maturing as are the people embracing its most engaging tools and networks. Perhaps most notably, is the maturation of relationships and how we are expanding our horizons when it comes to connecting to one another. What started as the social graph, the network of people we knew and connected to in social networks, is now spawning new branches that resemble how we interact in real life.
The competition for attention is focused on social networks as brands vie for awareness and consideration. Establishing a presence in Facebook and Twitter is as necessary as it is trivial. In the great social land grab, many organizations are missing true opportunities to connect with the fifth P of the marketing mix, people. It’s less about communicating with those individuals who are already following you online and more about those who aren’t.