Almost all major multinational brands have had some degree of success in the implementation of aspects of digital technology.

• Most of these are in the areas of social media and applications.
• Most are driven through good creative content.

 What is good about this is that digital technology is on the radar of all large companies.

• Yet, the way it is mostly applied undermines its serious potential.

 This needs to change.

 Everything that has the potential to step-up competitive advantage for a company entails a degree of risk. Digital technology is no different. Being a pioneer with some failures is better than being a latecomer (“me-too”) with anecdotal successes.

 Digital technology is not just another set of tools for IT or marketers.

 It is an opportunity to change fundamental aspects of a company (the very basis of competition) – in the very least, to create exceptional engagement and brand experiences for its consumers.

• Digital technology can disrupt any industry and change the rules of competition.
• Digital technology enables better data about consumers.
• It enables faster, more targeted, more relevant, more timeous, better engagement with consumers. 
• It enables better integration between marketing activities.
• It enables a brand to manage all of its touch points in a linear and complimentary way.
• It enables better measurement, less wastage and greater efficiency.

 Companies develop applications, buy software, pay software-licensing fees, post videos, create Facebook pages – implement program after program without any strategic framework. Hence, they waste resources, invest in the wrong technologies and in the wrong areas.

• Very often, there is no logic in how these are executed and why they are used.

 Digital activities are often single interventions, all good in their own right, but in no way integrated into how the company creates value for its consumers and its brands. Therefore, using digital technology to drive consumer acquisition, retention, growth – and manage efficiencies.

 Digital technology needs to integrate into the marketing and operations of the company in every respect. The data required, the structures required, the engagement program required, the toolkits required and the technologies required, are all functions of the business objectives and strategy.

 Digital technology is not an “add-on” that can easily be isolated into a new division without “disturbing” the rest of the organisation. It is a set of technologies, based upon the premise of a democratised consumer with wide information access.

• No single industry will be left undisturbed.

 A few questions a CEO and CMO should ask about digital technology:

• Do we as a company have an assessment of the potential of digital technology to add real competitive advantage to our company, albeit in transforming our business or changing our marketing?
• Do we know how that will impact our business in every respect – from the data that we need to have, to our structures, people, systems and processes?
• Have we spent time as an executive discussing and reviewing these?
• Do we have access to the specialists required to fully grasp its potential?
• Do we know what will happen to our company if an aggressive newcomer disrupts our industry? Even if it does not threaten our core business right now, does it have the potential to do so? What will the impact of an aggressive newcomer be upon attracting new consumers with no history of operating within industry parameters?
• Do we know how we can use digital technology to make our marketing more targeted, add greater experiences for consumers – and be more efficient?
• Do we know how we can use digital technology to make all our business operations more accountable, integrated and results-focused?

 Fact is, we now have a powerful set of technologies that are able to assist companies in an age of a consumer in control of his or her own destiny. It is how we use it that will create real competitive advantage.

 Simply seeing digital technology as another “set of toys for IT” or “our Facebook page” is a mistake.