Digital Strategy:
The Modern Way of Doing Business
A digital strategy consists of applying digital technologies to business models. It aims to create new differentiating business capabilities.
In other words, digital strategy is the process of reimagining current business processes or creating new products through utilizing technology to improve business performance.
Digital opens up new doors for businesses and discloses new competitive advantages. A digital strategy directs businesses on the advantages they want to harness from technology, in addition to tactics they can follow to achieve these changes. It usually requires changes to the business model.
Technology has enabled businesses to provide innovative services that weren’t previously feasible. Throughout applying a digital strategy, the specific tactics and methods may be altered along the way.
Nonetheless, it is essential that a digital strategy follows the initial roadmap and particular digital objectives primarily set by the business.
A digital strategy focuses on technology and employs it to generate the functionalities a company needs to become a digital business.
The digital transformation process highly depends on setting up an effective digital strategy to utilize technology in driving businesses toward their strategic goals.
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Our approach to Digital Strategy
At DigitalCook Switzerland, we aim to leverage the full power of digital technology to create new opportunities for businesses.
We do this by providing our customers with insight and research specific to their respective sectors on harnessing value for optimal success.
DigitalCook Switzerland team assists clients through pinpointing emerging opportunities that would benefit their businesses.
Additionally, our experts at DigitalCook Switzerland guide customers on which digital areas they should focus on the most.
For instance, they would help them find out whether a go-to-market strategy will provide the most payout or if they should opt for product or service innovation instead.
Our immersive approach focuses on digitizing enterprises’ current business models along with innovating new business models.
DigitalCook Switzerland’s digital transformation process starts with building a digital roadmap.
We provide advice and recommendations on digitizing business models and performing calculated business moves with minimal risk and worthwhile output.
Main Components of a Digital Strategy
A successful digital strategy enables a business to remain competitive and generate new business advantages, regardless of the business type and industry.
However, the main components for a digital strategy may be more relevant than others to different types and industries.
In general, there are nine main components for a digital strategy: online presence, digital marketing, online selling, customer interaction, online security, supplier interaction, mobile-based solution, achieving efficiency through technology and cloud computing.
Online presence
An online presence refers to how users can explore business information, announcements, and services and access them.
Online presence includes the business desktop and mobile website, social media presence (e.g., Facebook, Twitter, LinkedIn, etc.), corporate advertising profiles, and references in other businesses’ websites (e.g., links, reviews, articles, etc.).
Digital Marketing Strategy
Digital marketing refers to the way business is promoted through online resources. These resources encompass websites, mobile apps, and social media.
Digital marketing includes online banner ads, Facebook ads, LinkedIn ads, search engine marketing, newsletters, blogs, email marketing, eBooks, and mobile banner ads.
Online Selling
Online selling enables businesses to sell products and goods online even when shops are closed. It has known an enormous growth in recent years due to lockdown situations.
More and more users opted for online shopping. Correspondingly, it became indispensable for businesses across different industries to adopt online selling into their practices.
Customer Interaction
Customer interaction enables users to access business services through their preferred means of communication. It can either be through phone calls, messages, or social media.
A priority for customer interaction is ensuring the client requires minimal effort to access business information, service, or product.
A customer relationship management or CRM system enables businesses to gather information about their customers, track customer callbacks and deals, track the performance and progress of marketing strategies, and connect clients’ data to an accounting solution or software.
Online security
Online security is a very important aspect since it refers to protecting business data, information, and databases.
It encompasses securing software and payment systems, ensuring cloud-based backup systems, and creating policies for storing and accessing business data and customer information through digital technologies.
Supplier interaction
Supplier interaction in relation to digital strategy refers to establishing potential supplier relationships both locally and globally more interactively and efficiently.
This can mean sourcing suppliers online, which reveals a vast market of service and product suppliers and expands your practices and services as a result.
Mobile-based solutions
Mobile-based solutions refer to providing customers with access to services through their mobile devices.
It includes aspects such as mobile commerce, where customers can make transactions through their mobile phones, and responsive websites, which means websites that adapt to a phone or tablet screen with no efficiency or quality reduction.
Mobile-based solutions also encompass mobile applications, which can either be internal and aimed at staff members to perform business operations or external and aimed at business clients.
Efficiency through technology
The use of digital technology optimally leads to cost reduction and asset optimization.
Efficient use of technology includes advantages such as processing data faster, retrieving information effortlessly, and automation of the majority of tasks.
The following tasks can be easily automated when using the right technology:
- Managing timesheets and payroll
- Ordering and purchasing stationery and office supplies
- Managing employee leaves and day-offs
- Planning and resourcing business assignments
- Providing performance appraisals of team members
Cloud Computing: The Essential Component For A Digital Strategy
Using Cloud is crucial for digital strategy, and it offers great advantages for business.
It is the ultimate way to optimize costs and resources while protecting and backing up data seamlessly.
Cloud enables businesses to scale up or down following business demands, increase capacity and add capabilities as needed.