Digital Strategy: The Basics

Digital strategy: the essential term in today’s online world. Your digital strategy fundamentally impacts the way you do business and how you are perceived online.

Ever-rising consumer expectations are placing further emphasis on a company’s web presence and the user experience, in meeting those expectations is the key to a successful web presence.

What is a digital strategy?

By strategically creating an online presence centered around the consumer experience and business growth, digital strategy touches on all aspects of a business. It is the redefining of all digital efforts, enhancing the strategic effectiveness of a company’s web presence. By redefining those efforts as part of a digital strategy, it drives a digital transformation which can be companywide.

George Westerman, MIT principal research scientist explains that digital transformation marks a radical rethinking of how an organization uses technology, people, and processes to fundamentally change business performance. A digital strategy is a plan for maximizing a business’ online presence, producing both financial and social growth.

Why use a digital strategy?

The need for digital strategy implementation is derived from a customer’s expectations for products and services. Like technology, customer expectations have evolved over time, adjusting a company’s strategy to meet these expectations is crucial for survival online.

A survey conducted by Salesforce found that 79% of consumers believe that it is absolutely crucial to work with a company that understands their needs and preferences. Designing an online platform that provides consumers with the solutions they truly desire, not just content assumed they would, like acts as a key influencer in consumer engagement. 74% of marketers say targeted personalization increases customer engagement. Matching content with client expectations sparks a relationship with the consumer, creating a more compelling case for why they should be conducting business with a brand.

Relationships have become a crucial part of consumers’ business decisions, Accenture consultants found that 75% of consumers have stated they are more likely to make a purchase from a company that recognizes them by name, knows their purchase history, and recommends products based on their preferences. These relationships are driven through company content and market exposure.

When to implement a digital strategy?

The time to implement a digital strategy is now. The world is ever-changing and the need for a powerful online presence is more crucial than ever. 70% of all companies have either completed or are in the process of transforming their digital transformation strategy.

The current COVID-19 Pandemic has forced the world to innovate and modify the way we live our lives. Grocery hauls, doctor visits, and office meetings have become completely virtual encounters. Retailers have been made to close their doors to shoppers, forcing them to provide e-commerce solutions or lose their business. Retail e-commerce sites have recently seen an increase in traffic rates from 12.81 billion views to from 14.34 billion views through the months of January 2020 to March 2020.

Where does the change take place?

Content is where the strategy comes to life. Utilization of social media platforms allows consumers the ability to interact instantly with the brand. The content a company releases to these platforms tells the story of who they are, what they stand for, what they offer, and why a consumer should do business with them. Therefore, content that is strategically designed to meet the needs of consumers creates brand recognition and visibility in the marketplace.

Achieving improved effectiveness of all online platforms is accomplished through strategic design, clear communication of business objectives, and ensuring they are consumer-centric. IBM found that over half of all buyers conduct research on a brand through social media. A social media presence is crucial for exposure, but a strategic social media presence is crucial for success.

What is your strategy?

Vervology provide a range of services to facilitate your digital transformation, contact us today to find out more and how we can help you.