September 12, 2018
For several years, Valtech has worked with the leading Media and Entertainment (M&E) brands, gaining expert knowledge and experience in the industry. We recognize that the M&E industry is lagging compared to other sectors in which Valtech operates. For example, in retail and consumer goods, the digital transformation is about understanding the touch points between your brand and your customers. Also, ensuring the right marketing message and brand experience to meet customers at each touch point, both digital and physical.
In the M&E industry the focus (especially on trade-shows like IBC), is on digital delivery and the experience of the content. This might be the correct starting point since content is king. However, if you initially focus on delivery rather than the consumer, you miss out on all the data there is to collect, not just content delivery, but each touch point the consumer has with your brand. Across all industries, Valtech is operating within, e.g., retail, automotive, healthcare or finance, etc. the M&E industry is very late in the game. M&E companies need to improve how they orchestrate and manage all digital touch points across devices, channels and services. For instance, many broadcasters still struggle to bridge the user journey from non-paid services to paid services.
In retail, Valtech’s clients talk about Digital Marketing Platforms or Data Management Platforms for data maintenance from all digital touch points. CMS’s are also used for delivery and control of the end user experience. Some of our retail client’s have thousands of digital touch points, but still manage and store their consumer data in one place.
In media, most OTT providers have set-up their streaming service in silos, more or less disconnected from the corporate website or other lines of business, e.g., radio, linear Broadcast TV, etc. Most projects we do in this space is about delivering content and apps to the end consumer. Very rarely it’s about the complete user journey through all touch points. I believe that without taking into account the entire journey, we will fail to maximize the opportunity to present our consumers with the right experience at all digital touch points.
However, most media companies have sorted the delivery of video, meaning the quality of the actual video, making all the infrastructure investments and ensure scalability for OTT. The next step should be to drive their business forward and enable their digital potential across every channel, both existing and new. Here I specifically think of ensuring seamless onboarding and purchasing flows to enroll new customers even from non-paid towards paid services. This allows marketers to promote digital video content across each consumer touch point and to drive traffic from paid search and SEO. In the retail industry, there is no company with millions in revenue from their digital service who is not able to send their customers a simple email with promotions. But this still exists in the Media and Entertainment industry. This is why I believe a second digital transformation is required in Media and Entertainment.