Digital Maturity, what is it?
For CMO’s looking to keep up with the demands of digital marketing 1 thing is clear -it’s a fast moving and complicated process to explain the current digital landscape in a C-suite or others will understand.
Since the pandemic the rate we’re seeing businesses ‘digitise’ ‘transform’ or utilise their own data to meet consumers online has sped up dramatically. Consumers are doing more online from seeking medical treatment, to ordering food at a restaurant whilst in the actual restaurant. It’s both existing and daunting for marketers.
Google has recognised this and developed a digital maturity model to help organisations understand where they stand compared to their competitors. If marketers are concerned at where they sit on the scale, never fear only 2% of businesses are in the most advanced stage -multi-moment.
Why does this matter? Well Google says “the most mature brands in Australia and New Zealand report significant benefits from data driven marketing, with an average incremental increase of 15% in revenue impact, and 12% in cost efficiencies.
So what are the phases in digital maturity according to Google?
There are 4 phases:
- Campaign based execution mainly using external data and direct buys with limited links to sales
- Some use of owned data in automated buying with single channel optimisation and testing
- Data integrated and activated across channels with demonstrated link to ROI or sales proxies
- Dynamic execution optimised toward single-customer business outcomes across channels
The path to digital marketing maturity:
It begins with understanding where your business sits on the digital marketing maturity spectrum. BFJ Media can help you achieve this buy focusing on your marketing stack, connecting the data thereby improve you chances of making it to multi-moment maturity.
The steps CMO’s need to take:
- Set the foundation of where your business sits. From both a technical point of view and organisational. Having a sponsor within c-suite is critical to help organisational agilitiy moving you closer to multi-moment.
- Build connections. This is where BFJ Media comes in, we will help ensure your marketing stack, audience data, and campaign mechanics all operate in a way to deliver a seamless customer experience, meanwhile providing you the data to make informed decisions.
Get in touch today to organise a digital maturity review.
Wondering where your business sits in digital maturity? Complete our 5 minute assessment here.