Customer Data Management Has Never Been More Important for Media Organizations
As a result of COVID-19, many industries are struggling to meet unforeseen challenges. At the same time, however, the current global situation has presented some industries with opportunities for growth.
Media organizations in particular have been placed in the spotlight during the COVID-19 crisis and the media industry is dealing with both challenges and opportunities as a result. Reliable access to accurate information has never been more important than it is today, and the media industry is at the forefront of keeping consumers informed.
But there are also obstacles that media organizations have to overcome. In recent years, we’ve seen countless news outlets and media sources consolidated into a smaller number of channels, and this trend is continuing as a result of the current climate. Simply put, the post COVID-19 media industry is going to look very different from that of 2019 or even early 2020. In order to seize potential opportunities and be successful, media organizations will need to successfully
Internet Providers Are More Important than Ever
More than ever before, internet providers have become the gatekeepers for households accessing information and entertainment. With the vast majority of the population accessing news and important updates via social media, traditional media outlets are less prevalent than they were just a few short years ago. Cable TV has often been replaced by Netflix and other home streaming services. And in light of the need for social distancing, sporting events and concerts have been replaced by live YouTube streams. This trend towards digital entertainment and news will likely continue at an accelerated pace once the COVID-19 situation begins to resolve.
Customer Data Management is the Key to Success
For large media organizations, the majority of revenue now comes from advertising connected to their various online platforms. Advertisers are becoming increasingly savvy, however, and they expect solid ROI in exchange for their advertising dollars. But the only way that media organizations can offer this ROI is by both maintaining a sizable audience and understanding what that audience looks like.
To achieve this, large media organizations need both the right
There’s no question that the media industry is consolidating, and that means major opportunities for large companies to dominate entire sectors of the industry. But in order to do so, those same companies will have to develop a deeper understanding of who their customers are and make informed, data-driven decisions with the right enterprise resource planning (ERP) tools. Companies that fail to invest in the latest ERP and customer data management solutions will be left behind, while those that take advantage of the latest technology will be able to maximize their online presence and reach more customers than ever.
Find Out More About Customer Data Management and the Media Industry Transformation
Adolfo Ramirez, the Media Practice Lead at AKA Enterprise Solutions, was joined by other
- Digitization of media
- How industry changes are related to societal events like COVID-19
- Proliferation of social media network at scale
- Consumer access to content anytime, anywhere
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Article by: Adolfo Ramirez | 212-502-3900
As AKA's Media Practice Lead for more than a decade, Adolfo is an experienced consultant and project manager with a history of successful CRM and ERP projects across media and other industries. With 17 years of experience working with the Microsoft business platform, he is responsible for leading his team in designing, building, and implementing solutions that help media companies drive value.