Gabby Fabrizio

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Should all companies go digital?

We are living in a society where the digital age is ever changing and developing, and thus with it, businesses must evolve as well to accommodate for this. Companies being digital is much more than posting on social media. To ensure that a company stays relevant and in line with competitors, it is crucial for companies to begin and progress their transition to Digital industry. (DMI, 2020) . The worlds obsession with the latest technology revolves around the desire for an easier life (DMI, 2020) If a company does not go digital, it could directly impact them in a number of ways including, the loss of relevance as a business, competitive disadvantage, inability to collect key analytics that could help business progression, risking of their marketing share, and missing out on social selling opportunities.

An example: Keeping up with digital trends is important, as reflected in the BlockBuster and Netflix Story. Reed Hastings approached former BlockBuster CEO John Antioco in 2000 and asked him to pay $50 million for the company he had founded, Netflix. At this point, Netflix was just a DVD mailing service which customers could order online. Antioco couldn’t and didn’t want to visualise a world without walking into a physical store, in comparison to Netflix who saw a world of digital opportunities and convinces. (DMI, 2020)

“The Key Concept of Marketing is customer centrality” (Sethna, 2019, page 6)

 

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