It was another busy week as The Drum's Digital Transformation Festival continued, providing us with more food for thought from leaders and experts from across the digital industry. Here are some of the most interesting things we learned in week two.
1. Readers are flocking back to their trusted news brands as trust in social media declines.
Tracy De Groose, executive chair for Newsworks told The Drum that readership for online news was up by record-breaking numbers according to Pamco data. “On a daily basis, readership is up to 34 million, a 10% increase YoY,” she said.
“If we look at digital news across all publications, the numbers are up by 3 million compared to a year ago. We are seeing a huge flock back to journalism at these quite challenging times.”
2. Iris Nova has pivoted its retail strategy in response to the coronavirus pandemic.
Consumers can order crates of Iris Nova’s full portfolio of drinks directly through SMS.
The service has – predictably – proven popular with US consumers staying inside during the coronavirus outbreak. This has seen the company shift its focus to concentrate sales and operational efforts on direct delivery.
Find out more from founder and chief exec, Zak Normandin, here.
3. In China, major brands and tech firms are launching new efforts to get the economy back on track.
Countries that are now facing unprecedented levels of disruption as they self-isolate or go into lock-downs, such as the United States and the United Kingdom, will be looking to the example set in China as a beacon of hope for what’s waiting on the other side.
If one thing seems clear from China’s new normal, it is that digital technology has forced a larger place in people’s lives, with live-streaming and e-commerce the new normal.
Read more about China's new normal here.
4. Banking experts don't expect to see a cashless society any time soon.
Innovations in digital have transformed the world of banking over the last decade, but could the coronavirus pandemic quicken the shift to a cashless society? Could such a thing be possible?
Pete Markey, chief marketing officer at TSB and Sarah Ellis Davies, associate partner at You and Mr Jones and Blood believe were are still very dependent on physical currency.
Find out why here.
5. Marketers should stop describing their brands as “digital businesses”.
According to Cheryl Calverley, the chief marketing officer at online sleep wellness brand Eve Sleep, the phrase is redundant and advertisers have become too distracted by flashy terminology over recent years.
Check out next week's line-up for the third week of the festival on The Drum homepage.