Technological Triage for Media2 min read
In media, the opportunities are as rich as the audiences are diverse—and there are fewer barriers to entry such as regulatory requirements. So, what will it take for your company to embrace technology to convert advocates into brand fanatics?
When it comes to building brand trust and relationships, active listening and empathic response have always been more effective than talking out of turn or shouting. Why? Because it is consumers that define a brand, and companies must listen in order to hear what’s said and respond to customer demands appropriately.
But the industry that informs and influences the masses failed to adapt to evolving consumer demands for personalization. A l imited menu of media broadcast to everyone was a profitable strategy before there was viable competition, but delayed response opened the door for disruptors that altered the industry. As of 2017, Netflix had more subscribers than the top six cable providers combined.
Fortunately, the more quickly a media company pivots in response to consumer demands for personalized entertainment choices, the more it stands to reap rewards while creating competitive differentiation.
What might this pivot look like?
- Eliminate data silos and insist on quality over quantity (system optimization)
- Shift from overreliance on third-party data to optimized first-party data (customer insight)
- Identify and execute a data value strategy (unlock your data’s full potential)
- Optimize cloud migration and usage (improve speed and agility)
- Leverage AI-driven technology from acquisition to fanaticism (Personalization 2.0)
Emulating the disruptor model with active listening and highly personal responses will be the way traditional media players stake new claims on viewership of the future.
To read how SoftServe helps clients futureproof customer acquisition and nurturing, read our latest whitepaper, “Why Today’s Brands Need Fanatics, Not Loyalists”.