Tuesday, October 6, 2015

The Future of Digital - thoughts Part 3

Further thoughts on the future of Digital, inspired by the Marketing Society's Digital Day 2015.

Q: What steps do you need to take to sustainably capitalise on the potential of digital within your business?

Collect and use data intelligently:
Whatever you do… ensure that you both collect data correctly and then use it in the best way possible to learn more and maximise value. E.g. Amazon, Google and Uber (as well as Scottish Unicorns: FanDuel & Skyscanner) have all built businesses based on interpreting and using data.

Think like a start-up:
With a small and dedicated team with the right combination of skills, experience and effort you can accelerate your digital output. Even the bigger digital-only businesses now buy smaller start-ups because they have the desire combination of product, skills and  intellectual property or just an idea.

Retain the best staff:
Keep the good ones and encourage the average ones to find out what they are good at. The biggest problems are those who have a misplaced sense of entitlement or use their efforts against others rather than as part of a team.

This is the third post on the Future of Digital, the first can be found here , the second can be found here.
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