As a digital strategist, how do you respond to a digital question? We live in an age where competitors outsmart each other through a digital strategy–a management approach, or a business response to a digital question; thus the need for a brilliant digital strategy.
What is a digital question?
The digital question is a problem brought by competitors or consumers’ demands that can be managed or answered through the use of digital technology that will disrupt your business and facilitate new business models.
A digital strategy incorporates the following techniques:
- big data
- cloud and sensors
- mobile computing
If you want to become a digital business, responding to questions that require the application of new technologies is the goal of your digital strategy.
Here are the basic digital approaches:
- Include your digital problems in the formulation of your company’s overall business strategy. Do you have to apply new technologies to your current activities?
- Enable new digital capabilities to your business. Is it high time to upgrade your computers, add software and mobile applications and telecommunications systems?
- Use a variety of approaches in the formulation and implementation of a business strategy
- Be specific. What are the vision, mission and overall goal of your business? You can only maximize the digital initiatives of your company if you have a clear understanding of the opportunities, challenges, goals, and activities of your organization.
Here are some strategies to know where your organization is heading and what activities will best benefit from a new digital strategy:
Identify the opportunities and risks that new technology can create in terms of-
- customer intelligence
- enterprise technology architectures and processes
- innovation and governance
- new product/market exploration
- service optimization
Will new technology help your organization become more marketing and customer-focused? A digital strategy must make your business more accessible and visible in terms of SEO, advertising, social media promotion as well as mobile and web-friendly.
Your potential customers should be the centre of your digital strategy. They’re the ones who will choose you over your competitors. Define your customer persona and use it as the basis of your marketing design. What segments do they represent?
Defining your target market is vital in advertising, marketing and online and technology applications because it helps you understand their buying behaviours. When making a decision with regards to your products features, service, interaction, visual design and other important changes in your organization, it is important to understand your buyers’ needs, wants and limitation. You may have to create more than one persona for each product or service, but one person should always be the principal focus of the new digital strategy.
Current challenges to the implementation of a company’s digital strategy
Digitalization meant consumer empowerment
It is becoming more and more difficult to gain loyal customers as they gained more access to new technology and advanced connectivity. Customers nowadays use apps and data to easily find what they are looking for at the cheapest price and most convenient method, possible.
With digitalization, they can immediately fulfil their needs and wants at the lowest cost possible, and if there’s a free version — they’ll head on it right away. They can make or break your brand by making online reviews and talking about it on social media sites, such as Facebook. Consumer empowerment works in two way s— it helps small business gain the same exposure as the big companies. But, it can pull you down and make you a subject of bashings online, if you mess up.
Demand by ‘piece’
New technology redined the word ‘demand’. How customers prefer to use certain products and services changed because of technology.
If you like to get a new market, look for underserved consumers or those whose needs and desires were unmet by their current brand. For example, if Company X is providing nail services package to client Y for $50 per month, but she is not satisfied with the nail art, she can go to Company Z which is willing to provide her nail art services for $5–a fraction of a price-without the need of paying for the nail care package.
As a digital strategist, look for customers who are less valuable to your competitor companies. By cross-subsidizing their needs, you’ll gain a new market.
A digital strategy is a powerful roadmap for potential success in the digital world of business. The changes that technology and consumer expectations and demands are factors that should be integrated when making a comprehensive roadmap; to identify the evident and unseen spectrum of marketing opportunities and threats as well as your business’ potential for growth.