[VIDEO] McKinsey: How Digital Is Disrupting Marketing Framework
In the first installment of ClickZ’s video series with David Edelman, the McKinsey partner and global co-leader of digital marketing strategy shared his thoughts on how digital is changing brands’ marketing approach to the consumer experience.
Technological advances are providing more opportunities for consumers to interact with brands. But at the same time, they are creating marketing disruptions.
“Today everyone talks about digital as disruptive,” Edelman tells ClickZ at a financial marketing conference.
He explains that in the digital age, customer decision journeys have led to two big changes on the marketing front. The first change is that brands armed with quality content are becoming increasingly influential even without large advertising budgets. The second change is that brands are forced to rethink their overall budget allocation; instead of heavily focusing on brand advertising and purchase promotions, brands must look more holistically at the whole customer journey.
Taking a step back, what does “digital” mean, exactly? What are the marketing disruptions Edelman has been seeing? And how do these disruptions change financial marketing specifically?
Watch the video below to hear what Edelman had to say.