It's a golden age for digitally empowered consumers: PwC

Marcel Fenez shares his views at the launch of PWC report on entertainment & Media.

Neha Saraiya | Delhi | August 1, 2011

Recently at a press briefing, held at Mumbai, Marcel Fenez, Global Leader, Entertainment & Media, PWC shared his views on the Global Entertainment & Media Outlook 2011-2015. Titled as 'The collaborative future: reshaping for consumer relevance and engagement' his presentation took through the various facets of the Industry post recession.

While the first part of the presentation focussed on the global scenario of the industry with the key enablers for growth including broadband, mobile internet and smart phone penetration.

In the second half of his presentation he talked about the three important aspects for the collaborative future: a) The digitally empowered consumer b) The involved advertiser c) Collaboration as the route to competitive advantage.

Marcel mentioned this period as the 'golden age' for the digitally empowered consumer. As people are ready to pay for convenience, experience, quality, participation and privilege leading to a sustainable, profitable and engaged relationship with the consumers. The advantages of this relationship is subjected to outweigh attractiveness of free and pirated content also.

Furthermore, he threw a light on how people largely access through two ways a) ownership via streaming b) storage on device i.e storage in the cloud.

And the involved advertiser of today looks for engagemnet with 'digital natives' in their own space, e.g social media. Besides active engagement an advertisor also seeks for factors like personalised interaction with consumers,  compelling content and intestity of experience, cross-platform reach to new devices along with channels, supported by an evidence of consumer engagement.

While advertisers are collborating, experimineting and innovating, greater involvement can be achieved by social media as it creates social intellignce. Like TV and video games strength comes from cross platfom integration. Also, location-based marketing and addresssable advertising have  proven an effective tool for marketers

To add to it, platforms like Digital billboards and smartphones offer interactive experiences as collbarative route to competitive management.

Marcel further states that the operating model for the digital future termed as 'the collaborative digital enterprise' is about  “ an enterprise that is dynamic, interconnected and continously engaged with its entire customer, mployee and supplier ecosystem, through technology.”

He also revealed seven factors that shall act as a key to operating succesfully in the digital value chain:-

1)      Strategic fliexiblity,

2)      Engagemnet with the customer

3)      Economies of scale and scope,

4)      Speed of decesion making and execution, with the appetite to experiment and fail

5)      Strong capablities in partnership structuring

6)      Ability to monetize brands/ rights across platforms,

7)      Agility in talent management.

Lastly, he closed his presentation by sharing the imperatives for future success that included a) data mining b) data security c) future-proofing content d)  end-to-end digital workflow and e) digital talent management.

Neha@BestMediaInfo.com

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