Earlier this month, UK-based cosmetics company, Lush, announced that it was quitting social media. While the reasons it gave for doing so — that it was “tired of fighting with algorithms” and didn’t want to “pay to appear” in newsfeeds — will be familiar to anyone who’s ever run a corporate social media account, they simply don’t warrant such drastic action, in my opinion. In fact, in doing so, Lush risks a slide into obscurity and irrelevance.
While branding is an important aspect of creating a digital profile, true digital transformation entails the integration of technology into each and every aspect of business operations, according to CEO of Hoorah Digital Shaune Jordaan. The latter strategy is crucial to remain competitive in today’s markets.
Ten years ago, the JSE was dominated by big mining houses, with BHP Billiton at the top of the pile. Today, almost everyone else is dwarfed by Naspers, a media house that made some early bets on digital technologies and rode a wave of disruption to become one of the world’s largest internet companies.
Since 2017, South Africa’s management consultancy and business advisory industry has been under incredible pressure. With big players such as McKinsey, Bain, and KPMG implicated in state capture controversies, the model itself has been called into question. And, according to a recent study by Research & Markets, these scandals have combined with tough economic conditions and consulting expenditure setbacks to put pressure on a traditionally lucrative industry.
It includes comprehensive profiles of 46 firms including multinational firms operating in South Africa such as McKinsey and Bain, both of which were implicated in state capture revelations. It includes profiles on the major auditing and advisory firms such as Deloitte, PwC, EY and KPMG and specialist firms such as Hoorah Digital
Companies that have embraced digital marketing have leapt ahead of rivals that are stuck in the old ways, as digital advertising’s return on investment outpaces that of traditional media such as television and radio
Digital consultancy, Hoorah Digital, has acquired creative storytelling agency, Ritual Studio, the agency founded in 2017 by creative and former Hellocomputer ECD, Simon Spreckley. Under the terms of the deal, Ritual Studio will be fully merged into Hoorah Digital.
Banks around the world are coming up against a wave of disruptive digital-first and digital-only players. That’s as true in South Africa as it is anywhere else in the world. And consumers, hungry for new, streamlined digital solutions will be keen to explore what they have to offer.