Facebook and Deloitte Initiative to Help Companies Become Digital

On JUN 13, 2017 Facebook and Deloitte Digital announced they are forming an alliance to help companies accelerate change within their own organizations to fully evolve into digital businesses. The goal of the alliance is to rewire legacy business and marketing models to create long-term business value and will focus on four pillars:

  1. People
  2. Technology
  3. Insights
  4. Experience innovation

Additionally they also released a study that assesses the digital maturity of the marketing industry, which showed that — while digital has been a huge part of industry conversations for years — marketing organizations are not yet operating as digital businesses and are a long way from doing so.

 

Key findings of the study include:

  • Digital has been a huge part of the industry conversation for a long time, but overall, marketing organizations are not yet operating as digital businesses.
  • There’s a gap between perceived digital maturity, and actual digital maturity (when it comes down to offerings, delivery methods, operations). These marketing organizations are “doing” digital, but they aren’t “becoming” digital — and are quite a ways from the ultimate goal of “being” digital.
  • The industry’s training methods, company culture, current processes, ways of working and business structure don’t lend themselves to becoming digital. These organizations need to completely transform in order to be effective marketing organizations for a digital world.
  • 87% of business leaders anticipate their businesses being disrupted by digital business models, but only 30% believe they have the leadership or skills to execute on a digital business model. (Deloitte’s annual CMO Study)
  • Most marketers still have their teams divided between “digital” and “traditional,” which prevents them from thinking mobile first (because in order to be mobile first, everyone must be “digital”). For marketers to build communications that are truly mobile first, they must build teams that are mobile first.
  • There was a generational difference in assessing the organizations’ digital capabilities; Millennials ranked the organizations more negatively than older generations.
  • Understanding how important attracting and retaining younger, “more digital” talentis also an issue worth assessing.

 

Facebook vice president of global agency development Patrick Harris said in a statement emailed to Social Pro Daily:

People have made the shift to mobile and businesses need to catch up. To that end, there’s increasing pressure for business leaders to keep up with emerging technologies and create business growth. With this alliance, Facebook and Deloitte Digital will help businesses accelerate this change within their own organizations. We’re excited to work with Deloitte Digital to leverage their expertise beyond marketing and combine with Facebook’s global scale and connections between people and businesses to help marketers make this shift and achieve business results.

 

Deloitte Digital CMO Alicia Hatch added:

C-suite executives are under intense pressure to create business growth in the digital age, but they don’t have the right skills in place within the marketing function to create real business value. To succeed, traditional businesses not only need to develop cutting-edge technology platforms and analytics capabilities, they also need to change the way their people think, work and collaborate if they want to achieve the possibilities digital technology has put within reach. This involves fundamental shifts in an organization’s culture to embrace customer-centricity, accelerate change, enable ability and flexibility and deliver value quickly—and that’s what we’re trying to help companies do as part of this alliance.

 

Reference: Forbes