What is the digital consumer doing online in today’s world? How are technology solutions being applied to problems and challenges in our immediate surroundings? There is no single screen that grabs our attention. According to research presented by CEO of Telenor Pakistan, Irfan Wahab Khan, the attention span of any individual is shared across multiple screens because of the information overload around us. “People admit that 77% of the time, they are using other devices with the television screen, which used to rule the household as a central point of focus.”
“In terms of advertising spend, digital has already overtaken traditional advertising spend in the West almost two years ago. There is more money being spent on digital and social platforms than traditional television around the world. And we see that shift in the trend in Pakistan also.” Analyzing and capturing user demographic so that products can be more customized and targeted to meet the exact needs, helping to convert a visit into a sale. The keywords here being ‘capture’ and ‘measure’. You have access to all the data you can possibly need to target specific groups of users. And every dollar and click is accounted for.
Up until 3 years ago, the telecom industry was spending only 5% of its total ad spend on digital. According to Irfan, “Today, that spending is almost 25% of our entire budget. I can predict that in the next two years, our digital spend will surpass traditional television and out of home.” And that’s what brings the traditional advertising agencies and media buying houses’ worst nightmare come to life.
Customers are more social, creating content that can determine the reputation of businesses, which can be referred to by their peers. The brands can only, for the most part, dish out their services; whether or not they are successful, can only be determined by the customers. Whether it is Starbucks or Chipotle, Careem or Uber, if customers are unhappy, they will make sure your bottom line is impacted. “Engagement, collaborative and experimental are just a few of the trends surrounding customers online.”
And data is really the new champion. “It’s the oil of the future and the only way a business can transform itself. Have a surgical dialogue with your customers based on the data; put conversations and needs into context. Data allows you to be specific, rather than just spray and pray. The future of businesses is data-driven.”