Facebook And Deloitte Digital Come Together To Help Brands Evolve Into Digital – Forbes
Today Facebook and Deloitte Digital announced they are forming an alliance to help companies accelerate change within their own organizations to fully evolve into digital businesses. The goal of the alliance is to rewire legacy business and marketing models to create long-term business value and will focus on four pillars:
4. Experience innovation
Additionally they also released a study that assesses the digital maturity of the marketing industry, which showed that â while digital has been a huge part of industry conversations for years â marketing organizations are not yet operating as digital businesses and are a long way from doing so.
Key findings of the study include:
â¢ Digital has been a huge part of the industry conversation for a long time, but overall, marketing organizations are not yet operating as digital businesses.
â¢ There’s a gap between perceived digital maturity, and actual digital maturity (when it comes down to offerings, delivery methods, operations). These marketing organizations are “doing” digital, but they aren’t “becoming” digital â and are quite a ways from the ultimate goal of âbeingâ digital.
â¢ The industry’s training methods, company culture, current processes, ways of working and business structure don’t lend themselves to becoming digital. These organizations need to completely transform in order to be effective marketing organizations for a digital world.
â¢ 87% of business leaders anticipate their businesses being disrupted by digital business models, but only 30% believe they have the leadership or skills to execute on a digital business model. (Deloitteâs annual CMO Study)
â¢ Most marketers still have their teams divided between âdigitalâ and “traditional,” which prevents them from thinking mobile first (because in order to be mobile first, everyone must be âdigitalâ). For marketers to build communications that are truly mobile first, they must build teams that are mobile first.
â¢ There was a generational difference in assessing the organizations’ digital capabilities; Millennials ranked the organizations more negatively than older generations.
â¢ Understanding how important attracting and retaining younger, âmore digitalâ talent is also an issue worth assessing.
Q&A With H&H AKA The Key Principals
I chatted with Patrick Harris, VP, Global Agency Development at Facebook at and Alicia Hatch, CMO of Deloitte Digital about the new alliance as well as the study results.
Steve Olenski: Were the results of the study the impetus for the alliance or do the survey results just reinforce the need for the alliance?
Patrick Harris: The world is mobile, but there’s still a gap in digital maturity for many marketers. And as the global marketing ecosystem supporting brands evolves, we want to create meaningful relationships with those providers in service of our clients. Businesses ultimately need to be where customers are, but to do this they must change. This alliance was formed to do just that â help businesses accelerate this change within their own organizations. We will focus on four pillars: people, technology, insights and experience and content innovation. The study simply reinforces the need for this type of alliance that brings together marketing, business strategy and transformation all to help move the industry forward.
Alicia Hatch: The alliance was created in response to demand by c-suite executives who are under intense pressure to create business growth in the digital age, but donât have the right skills in place within the marketing function to create real business value. As a result, many companies are rethinking their marketing organizations and investing across the board to transform â and thatâs where the alliance comes in. The survey underscores the fact that thereâs a gap between companies âdoingâ digital and âbeingâ digital, meaning that they have started to leverage digital technologies, but have not made advanced changes to organization, operations and behavior.
This idea was uncovered by Deloitte Digitalâs unique study of digitally mature companies (like Facebook) that possess a specific set of characteristics that enable them to thrive in todayâs digital world. This âdigital DNAâ is at the core of everything they do. To succeed, traditional businesses need to rewire their DNA with the characteristics of a digital native. Through this process, we identified 23 unique traits of digital capabilities and digital behaviors that lead to âbeing digital,â helping clients capture the full value of a marketing transformation.
Olenski: How will the alliance actually function?
Harris: We have dedicated teams that support global marketing ecosystem partnerships in order to help our clients create long-term business value from marketing. This alliance will be supported by those teams and that support includes scaled global education, joint marketing and client program management. This is the first step in our journey in learning how to work with consulting firms in a way that helps shared clients address their future of marketing needs.
Hatch: Deloitte Digital and Facebook will work with clients together. The alliance strategically combines Deloitte Digitalâs expertise in business strategy, customer experience and digital transformation strategy with Facebookâs valuable connections between people and businesses â offering marketers unprecedented access to consumer insights than ever before. Deloitte Digital and Facebook both have a core set of professionals to drive the growth of the alliance and promote joint go-to-market activities.
Take a large tech firm, for example. Weâre working with their U.S. CMO to turn marketing into a business, starting with data-driven creative message testing around various targeted personas to help find the most effective messages to reach the right customers.