Growth from the digital economy continues to outpace traditional ways of doing business. Are you taking full advantage of the value it can deliver?
A well-thought digital strategy is now an integral part of any growth strategy. Far beyond 'your website and how to market it', a digital strategy must:
- Consider how technology can be used to grow and improve any aspect of your business
- Factor in the impact of mobile devices and payment disruption on your industry
- Clearly state your desired outcomes from digital initiatives
- Include a prioritised roadmap of which channels and tools you intend to use
- Outline how you will measure performance against your goals
- Identify any resource gaps you need to fill to execute your plan with confidence.
The process of creating your digital strategy will address some crucial considerations:
- Clarifies your digital goals and expected Return On Investment (ROI)
- Establishes your budgeting and reporting processes
- Highlights any areas of specific fear or hesitation where technology is involved
- Identifies key User Experience (UX) issues impacting your customers and employees
- Prioritises your focus around Social Media, Video and Search Marketing
- Reveals low-hanging fruit that can improve your performance immediately.
Businesses that engage well with digital technology are proven to have higher revenue growth, profit margins, staff retention and better capital value. So... if you are not taking full advantage as a business owner, you are either leaving money on the table or leaking it to your competitors.