Are You Digitally Proficient or Deficient?

Time Magazine was spot on with their comment: 2010 was definitely the year of the internet entrepreneur. With a best-selling (Golden Globe award-winning) movie about his story, a net worth of $7 billion and a now rumored $50 billion valuation of Facebook, why not give Mark Zuckerberg Man of the Year?

It’s Not Just Facebook!

Linda Gridley, CEO of Gridley & Co., sounded the same message at the recent 10th Annual Marketing Services, Internet and Financial Technology Conference in NYC. “It’s not just Facebook,” Gridley said, “Add Groupon, Zynga and Twitter to name a few. When else in history have we seen a three-year old company (Groupon) not only receive a $6 billion offer to sell, but turn it down? These internet entrepreneurs are creating real value at record paces and investors are jumping in any way they can.“

Explosive Growth in “All Things Digital”

Last year capped a year of economic recovery that exceeded everyone’s expectations. The Dow rose 11.0%, NASDAQ rose 16.9%, and market conditions are still fertile for continued expansion and growth in 2011. So now is NOT the time to bet against bullish forecasts, no matter how muddled the underlying economy may appear to be performing. As Gridley points out, at least part of these impressive economic results are tied to the explosive growth of “all things digital,” and from our vantage point we see this growth continuing.

We completed two senior-level digital marketing placements each quarter during 2010, and we see strong demand for digital talent continuing in 2011, with a few new assignments kicking off the new year. With the advent of the next generation of smart mobile devices (iPhones, iPads, etc.), mobile marketing and mobile commerce are also areas experiencing explosive growth.

Are You a Digital Game Changer?

We focused a majority of our executive search practice in 2010 helping key clients recruit “game changers” to raise the competency level of their senior leadership in the digital marketing area. Chief Digital Officer are the hottest search request in the marketing area.

We published an article (“Digitally-Deficient CMOs Need Not Apply”) from Ad Age a few years ago and we think the key action items still apply.

Top 5 Actions You Need to Do NOW to Be Digitally Proficient

1. Immerse yourself in CRM, database/analytics and understanding customer engagement to manage your personal transition from a mass marketer to a one-to-one marketer.
2. Truly understand the Internet and best practices in website design, on-line customer experience, e-mail marketing, social networks and e-commerce (online sales and lead generation), both within your industry sector and in other sectors.
3. Use new media, including search-engine marketing and optimization tools, the drivers of current integrated-marketing and media efforts.
4. Now is the time for mobile marketing. The iPhone and other mobile devices are the new communication hubs for receiving just-in-time communications and incentives — at the point of sale. The mobile phone is also rapidly becoming a payment system, where funds can be automatically transferred at the point of sale.
5. Hire people at the VP levels and below with different skill sets — more engineers with PhDs — people who understand the numbers, who focus on ROI. In other words, surround yourself with VPs who have the relevant skills in database/analytics, online marketing, new media and e-commerce that you may be lacking. Then learn from them.

We are moving toward a marketing world that is driven by one-to-one, opt-in marketing, predictive modeling, and tracking approach. Marketing in the future will not be about the masses but about understanding micro-segments of customers and using tools that enable marketing to get more granular and take campaigns to a one-to-one level.

So now is the time to ask yourself, “Are you digitally proficient or deficient?“ All the signs we are seeing indicate things are happening everywhere, driven by the rapid growth of the digital channel, and now is the time to look for opportunities. Whether it is making a strategic acquisition, joining an early-stage, pre-IPO company (like Facebook or Groupon), or moving your Personal Brand to the next level within your current company or industry sector — how big a game are you playing this year?

BOTTOM LINE: Very simply, your digital proficiency (or deficiency) will define your ability to accelerate and sustain double-digit growth in 2011 and beyond.