Not too long ago, industries were clear cut. Businesses were able to identify competitors, and there was such a thing as target market. All that changed with the rise of the internet and digital technologies. Businesses are now forced to navigate through a sea of ambiguity, where competitors are indistinguishable, where customers are different from what businesses thought they were. The internet is the world’s equalizer for businesses.
Who would have thought that media companies, regardless of platform – print, broadcast, or outdoor – would all converge in digital? Who would have predicted that high-flying airlines would be forced to change their business models with the rise of online bookings? Who would have thought digital would be at the core of advertising and marketing? And how would telcos have known that their main line of business – selling minutes – would be overtaken by the likes of Skype?
Telcos used to be a behemoth in the industry; the were top advertisers for years and they hired thousands. But the very internet access telcos sell to customers has started to impair their business for selling minutes.
Thus, telcos have shifted to a double-sided platform: They earn from consumers buying minutes; and adapt a B2B model where they utilize their captured audience to sell marketing space to advertisers.
Words Donald Lim | As it appeared in adobo Magazine’s March/April 2013 issue.
For the full article, grab a copy of adobo Magazine’s March/April 2013 issue.
