Digital benefits for business highlighted by experts

THE opportunities available to firms in the fast-moving digital age were highlighted by international experts at a major event in Leeds last night.

An audience of more than 150 senior business figures attended The Business of Digital, the fourth in the series of Marketing Leeds’ thought-leadership events which is taking place during the Leeds Digital Festival.

The event was held in The Mint office development in Holbeck in association with Leeds Media and the discussion was introduced by Deborah Green, chief executive of Marketing Leeds and chaired by David Parkin of TheBusinessDesk.com (both pictured right).

The panel featured Chinese entrepreneur, Buddy Ye, the co-founder of WangYou.com, one of the first and largest social networking companies in China, chief innovation officer of Open Knowledge, Dr Norman Lewis, Amanda Brown, head of PR for online bank first direct, which is based in Leeds; Kieron Matthews, marketing director of Internet Advertising Bureau; and Daniel Pollick, head of IT for global law firm DLA Piper, which has its 200-strong global IT operation based in Leeds.

Highlighting key trends in the digital sector, Kieron Matthews said that online video had grown 87% year-on-year while Buddy Ye said the growth of mobile was key.

Dr Lewis and Mr Pollick stressed that digital is still in its infancy.

“It’s very dangerous to pick too many trends because we are at the very beginning of the internet era,” said Mr Pollick.

“You should remember it took 45 years to develop the internet,” Dr Lewis pointed out.

“If you call a camera a digital camera – then you probably weren’t born in the digital age!” added Mr Matthews.

Amanda Brown added: “21 years ago when first direct was launched, we told people how to interact with us, now they tell us.”

The debate focused on social media and its role in both business and society.

The panellists were split on whether it improves communication, particularly by young people.

“Thanks to social media, you’ve got adults behaving more like children!” said Dr Lewis. However Ms Brown argued: “Digital can improve the conversation – people are more social.”

Mr Matthews agreed, saying it was leading to a “more literate generation”.

Mr Pollick pointed out the growth of “augmented reality” thanks to mobile devices which “know where you are” and are able to give you information about whichever location you are in.

There was also argument over whether social media can work for business-to-business markets.

Dr Lewis said US computer firm Dell had embraced social media successfully and was using it to help shape its products of the future.

Mr Pollick said that DLA Piper is now seen as a “cool” law firm in Scandinavia because it has a Twitter account.

Mr Matthews said that major digital brands such as Youtube are still struggling to make a profit, but Mr Ye told the audience about the success of the QQ instant messenger service in China which has 330m active accounts, made a $1bn profit last year with only 14% of it coming from advertising revenue and the rest coming through its virtual currency service.

The panel were also split on whether young people today need specific skills for the digital age.

Mr Matthews said that there was a “worrying shortage” of good quality people and Google has just given its employees a 10% pay rise to stop them being poached by Facebook.

Mr Pollick said: “21st century capabilities are needed by those coming out of university.”

One thing the panel were all agreed on was that we live in a fast-moving world where digital can provide huge benefits and opportunities to both businesses and individuals.