2. Digitization and its impact on business:
• The first basic need of any business today is to create its own web presence
by developing its Company Website.
• Website today is considered as a virtual extension of any business and
create a global presence at minimum investments.
• There are companies who have started tapping global business
opportunities from a single domestic office.
• It help companies exchange their service expertise via internet and support
local businesses e.g. Reseller Accounts, Taking Agency etc.
• Competition analysis has become very easy due to various Social Media
platforms.
• Brands find gaps/mistakes in other competitors communication and takes
advantage of it to reach its TG positively
3. Is there a need to change?
• Yes as the market scenario is changing so drastically there is no
other option but to go Digital
• If any brand doesn't have its presence on Digital platform for me the
Brand doesn't exists
• Latest surveys shows that people spend 4-5 hours everyday on
internet and they don't have time to watch TV
• Not only is there a need to change but also it is very essential to
have a proper plan in place
4. Would you increase resource in Digital in
next 12 months?
• I look at it from my investment perspective and depending upon the
companies future plans a company has 2 options according to me:
• Option 1: To outsource its Digital work to a third party
• Option 2: To recruit its own employees
• In both the above options it is either directly or indirectly increasing
job opportunities and increasing its resource requirements.
5. Would you advertise in the next 12 months?
• Advertising on Digital platform has plenty of options and it is one of
the most cost effective advertising option available today to reach
out to the educated masses.
• So yes if I am targeting the educated masses then I would choose to
advertise on the Digital platform or else I would choose other
traditional media vehicles to reach my TG.
• Also, it also purely depends upon the status of my business I am
owning as it is very hypothetical to consider Ad spends without any
basic objectives.
6. What would spend %age be?
• Looking at all the biggies who have increased their Digital spends
from 3-4 % of their overall Mktg Budget to now almost 12-15% so I
feel if in my business if I plan for a Mktg Budget I would keep the
spend % to be 10 - 15 % again depending upon the size of the
business it will change.
7. What is the biggest barrier in adopting
Digital in organization?
• The entire employee strength of the organization is not grown up
seeing the Digital transformation unlike today's young generation.
• The biggest barrier for me I feel is the oldies who are at senior
management levels who find it difficult to adopt to complete
Digitization as quickly as a 4th Gen person.