Few business functions have been as profoundly disrupted by digitization as marketing. The era of expensive campaigns pushing products through mass media has been upended, as consumers, empowered by information, are demanding more and more from the companies they choose to form relationships with. In this interview with McKinsey’s Luke Collins, David Edelman, coleader of McKinsey’s global digital marketing strategy group, explains the state of digital marketing, what companies get wrong and what they should be doing, and the role of senior leaders in pushing their organizations to master the art of digital marketing. An edited transcript of Edelman’s remarks follows.
Most companies think in terms of campaigns. They periodically want to get interest in the marketplace, so they come out with something they want to promote, whether it’s on a quarterly, monthly, or maybe weekly basis. The reality is,