How the Convergence of Product Development and Marketing affects the Digital Space
- Product Management /
- Viewpoints /
Over the last five years we have witnessed a dramatic change in the way software is used to build connections with consumers and build brand loyalty. Audiences are more often engaged through software mediated channels than ever before. This change necessitates a new way of planning digital marketing efforts, since the best marketing programs now cross over between traditional online promotions and product development.
In the past large software expenditures originated in the IT and product development departments of corporations. Now marketing budgets are increasingly being used for product development. It is becoming more common for marketers to approach digital innovation agencies for both product ideas and ways to bring them to market, not just advertising ideas. We see brands and businesses using their most innovative agencies to solve big business problems in addition to marketing problems. We see them working to develop products and services that make people’s lives easier and happier, while solving real problems and not just pushing out more messages.
By shifting the focus on digital innovation and product development out of IT’s realm and allowing collaboration between marketing and product development, a new generation of digital products is being developed that brings real value to users while supporting the branding and marketing efforts of organizations.
In order to enable this transition, businesses need to evolve their internal approach to technology innovation. The traditional process of defining your strategy and then looking for technology to help implement it can miss key opportunities, because technological innovations change what kinds of strategies are possible. Since technology advances so rapidly, businesses need to understand what is technically possible in order to inform strategy development. Then strategy can guide where you make greater technology investments. And the learnings from using that technology should provide feedback into the refinement of business strategy, particularly as that technology evolves.