Trends in The Digital Ecosystem and the Talent That Would Need to Follow
The digital consumer is evolving and so is the digital ecosystem. All of us have been immersing in this piece of news for quite a few years now. From laughing at management trainees for suggesting digital games for marketing, the top brass has come a long way and made digital education one of their key KRAs. They are also on the lookout for talent who is digital-business ready.
However, like any fast growing business ecosystem, one of the biggest challenges in the digital space is talent-readiness. While the new entrants lack business understanding, there is a need for a larger set of seasoned players with upgraded digital skill sets. A potent combination of marketing, content and technological understanding is essential for a business to adapt in this transforming ecosystem. With digital boot camps, learning programs propping up around us, here are some careers choices/skill set upgrades that I feel will make you a potent asset.
1. Digital Video Content Expert
With an average broadband speed of 4.1 Mbps, marking a 62% Y-O-Y growth, and an adoption rate of 116 percent for IPv4, we are on the path of faster, quicker and more heavy content consumption. The number of video capable devices and connections are expected to grow 2.2 fold between now and 2021, reaching 800 million in number. Average time spent by an individual on streaming videos has increases 9 times, moving from 2 minutes a day in Q2, 2014 to 18 minutes a day, Q4, 2016.
2. Additional Skills
Non-metros account for 30 percent of the YT watch time. This trend can be attributed to regional content, better devices and increasing access. A sense of regional sensibilities and command over the language, with a hold on the digital pulse can make your priceless asset.
3. Virtual Reality and Augmented Reality Specialists
Talent that create Augmented & Virtual Reality experiences for brands will be in demand with immersive brand experiences being the need of the day.
Facebook launched the Camera Effect Platform as a step towards Augmented Reality. The platform is designed to eventually be compatible with future augmented reality hardware. Affordable AR glasses might be a distant destination, and exactly why the first augmented reality platform that becomes mainstream isn’t going to be glasses, it’s going to be cameras.
4. Cognitive, next level of data technology
With increasing complexities in the consumer journey in this multi-channels and multi-device ecosystem, reading into it hasn’t got easy. Cognitive technologies like AI, machine learning and Natural Language Processing are disrupting this space. For e.g., the trailer for the movie ‘Morgan’ used AI to analyze existing trailers to find nail biting moments and recommended 10 most usable scenes from the film, which an editor eventually finalized and executed. The industry will need developers to create and simulate such intelligent programs for data to be used intelligently.
5. Media Planners for Programmatic ads
Digital is driving the future of advertisement in India with digital ad spends expected to cross INR 294 Billion in 2021. In 2016, digital advertising contributed INR 76.92 Billion and is expected to grow at a rapid pace of 30.8 CAGR until 2021. Growth of execution based technology platforms, who not only distribute ads, but also optimize them based on performance will be used to build confidence and belief in the digital advertising process. It is estimated that approximately 25% of the search and display market is programmatic and is growing 200% Y-O-Y.
6. Teen Marketing Specialists
Ok this one might be a bit of stretch. But we at TheSmallBigIdea have had a lot of recent requests around marketing plans specifically targeted at the Generation Z. Teens, a very big percentage of the digital ecosystem are fickle-minded and unpredictable. It needs an expert view to be understood, both from a communication and media standpoint.
7. Closing Note
Knowledge/Skill upgradation are not new career growth strategies and it isn’t any different in the digital era. While the space in itself is moving at a speed of light with content, technology and marketing minds innovating everyday, what holds true for us tomorrow us unknown. Till then, these career choices and upgrade options will surely contribute in accelerating careers and make one future ready.