Digital transformation in the media
In today’s media market, if you are slow, or stand still, you will not last very long. You will die, even if you are the most important brand in the world. Praying for results is not an answer. The world and the audience have changed.
Everyone is committed to growing digital. They know change is the only way forward, but cultural change is hard. For many years, journalists understood their job was done when the article was written. Now they have to think digital and work digital.
It’s good that the two leading media houses in Kenya have finally come to the realisation and understanding that with the new shift, the main question is no longer, what will go online? but what will go in the paper?. Digital is where things start and paper is now just another content channel. Life is digital, consumers are 24/7. People cannot wait for the daily paper. The bigger challenge for most traditional media houses will be in their ‘service design’. …
On first glance, Chase Bank, a bank that lost the trust of its depositors is being acquired/managed by a bigger, more stable bank, KCB. Sentiments on the ground and on social media though, provide more nuance. Hyperbole not withstanding, Chase Bank customers appear to fear the association of banking with KCB more than they fear losing their deposits.
There’s a catalogue of jokes and memes that followed the announcement of the alliance last Wednesday, as well as some lukewarm newspaper commentary. The online messages are almost Premier League like in their allegiance to either bank.
If any consensus can be inferred from online chatter, it is that Chase Bank is a customer-focused bank and KCB is an operations-focused bank. …
How a diminishing value system affects pricing
Some weeks ago, the estimable analytical columnist Mungai Kihanya debunked the assumption that the relationship between higher price points and higher profits is always directly proportional.
The article did not receive as much attention as it merits.
This is mainly because as Kenyans, we have a dysfunctional relationship with value. The construction of our value system in the postcolonial imaginary is based on calculating all forms of value strictly in monetary terms.
While the country is famous for many honest, self-made entrepreneurs, in the measurement of their economic exceptionalism, the varied texture of their stories is often eschewed for the shorthand for their net worth. …