More digital investment expected in 2014

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Businesses are likely to make further investments in the digital marketing sector over the coming 12 months as this area gains further traction, both in B2B and B2C sectors.

Ashley Friedlan, the founder of Econsultancy, recently suggested that digital transformation is likely to continue in 2014 as firms across a number of different industries attempt to change their approach.

Writing in Marketing Week, he suggested that digital has become the “Trojan Horse” that will allow companies to reach the big prize and connect with customers as effectively as possible.

“Although digital is the catalyst and driving force behind change, particularly for organisations whose business models have been most disrupted, it looks like marketing as a function within business is to be the primary agent of change,” he added.

Marketers are now at the vanguard of a change in the industry, as companies attempt to become more customer-focused and change their approach in order to do this, explained Mr Friedland.

Forward-thinking British firms are “seeking to grow by reinventing the customer experience across all channels, driven by digital, to align with changing customer behaviour and a shifting business model,” declared Mr Friedlan.

While capital expenditure in the past has focused on infrastructure, big tech, property and so on, it is now expected to shift towards intangibles like data, content and code.

Agile processes are also likely to become popular, while new marketing technology systems based around software such as CRM are being developed by many firms, the industry expert claimed.

Data will be at the heart of the reinvention of data over the coming years, he concluded.

A similar trend was pinpointed in Deloitte’s 2013 chief information officer survey, which suggested that 75 per cent of IT leaders hope to support business growth through innovation.