According to PwC’s recent Global entertainment and media outlook 2014-2018, “digital success is not just about technology, but about applying a digital mind-set to build the right behaviours towards an embedded digital culture that drives ever closer to the customer.” And in fact, due to this fundamental shift, businesses have to move faster, more targeted, experimental, experiential, inclusive, and collaborative.

Greg Unsworth, Technology, Media & Telecommunications Leader, PwC Singapore gets to the point, stating: “We believe this shift towards a more personalized customer-centric organisation is the single biggest change since the advent of digital media.”

This global phenomenon has been the focus of MediaBUZZ’s 8byEight event on Digital Marketing that took place on Tuesday (June 10, 2014) in Singapore, where sixty-four digital experts spent an afternoon with intensive knowledge sharing on the technical and creative aspects of digital marketing. The combination of the art and science of digital marketing is especially relevant, since delivering a true digital experience demands more than just crunching data, but requires getting to know people as individuals - and them knowing you back - to remain relevant and to spread state-of-the-art marketing messages.

All invitees agreed that technology and marketing must come together to provide a consistent and integrated view for marketing to communicate in the most powerful and effective way to the consumer, as they extensively discussed the challenges they are facing in different discussion groups, including the aspects of: omni-channel retailing, human-centered customer experience (HCCX), mobile and social media marketing, data analytics and security, as well as integrated marketing and in general a very close look on customer experience and how to build trust.

You can expect to see the quintessence of the discussions published in Asian eMarketing throughout this month, which should be of huge interest to all of us since the topics are the bread and butter of marketers in our digital environment today.

PwC, for instance, just forecasted this week that total entertainment and media spending on digital is expected to grow globally at a 12.2% compound annual growth rate (CAGR) and account for 65% of global entertainment and media spending growth – and advertising, the analyst states, is leading the way:

“In 2018, 33% of total advertising revenue across the world is forecast to be digital, compared to 17% of consumer revenue. However, monetising the digital consumer will not just be about the application of technology. It will be about applying a ‘digital mind-set’ to build the right behaviours, advancing from a digital strategy – to a business strategy fit for a digital age”, PwC’s Global entertainment and media outlook 2014-2018 emphasized.

In fact, it is expected that the industry is approaching a significant tipping point and Internet advertising will be poised to overtake TV advertising in 2018.  So stay tuned and find out more next week.

By Daniela La Marca