Digital technology and transformation have become ubiquitous today, and if you haven’t fully embraced this digital revolution, then it’s about time you do since you might be missing more than you think. In particular, it helps businesses gain more customer insight without even knocking at the customer’s door as well as adopting these changes faster and see an immediate effect. In today’s digital world, businesses can co-exist and thrive following our top 5 strategies compiled by our digital marketing agency India.
Whether you are a business owner or part of a marketing team, who wants to fully embrace the digital technology, this article will help you adopt the top strategies without feel overwhelmed when everyone else seems already ahead in today’s marketplace. This article is also useful not to focus on who has or hasn’t embraced digital technology, rather how you can do it too:
Know your ‘why’:
It is true that knowing ‘why’ you want to do something is more powerful than the process itself. In a business environment, when you set your ambition high and clearly know what your purpose is, you are highly likely to not only reach it but exceed your own expectations. Since you would clearly know what is and isn’t out of your target area and help you avoid areas that aren’t relevant and help you exploit opportunities. While your strategy must include an exploration of new trends and opportunities and be ready to exploit them, you must maintain a balance of both. This can be achieved when you clearly define your ambition and purpose.
Don’t miss on asking great questions:
Like Socrates, the Classical Greek Philosopher, you need to learn to ask great questions to approach and solve a problem and challenge the status quo. Without this step, you may find yourself in unfamiliar regions in your project, much further, when it is often hard to start from scratch. This is the most important step both for you and your business. Some good questions look like these: What do our clients see? What do our competitors see? How are we differentiated in the market? Are we part of our customer’s life, if yes how? Are we moving in the right direction? Do we have champions among our valuable stakeholders? How do they see us?… So on and so forth.
Discuss and meet external and internal publics:
In addition to asking questions, discussing and seeking answers, it is important to look at whom you are choosing to find your answers and outside perspective. If you’ve been finding answers within yourself, or within your company and stakeholders, it is time you step out. You can participate in events or set-up conferences to meet up with representatives of NGOs and international organizations or your key customers or with publics that are incremental to your growth and conduct similar discussions to find the real perspective. Sometimes, it is wise to listen to what your non-customers are saying as well as this could give you an insight into new trajectories for your business. Without these, you might end up speaking amongst yourselves and not find what you are looking for.
Map IP and M&A move:
Today, we can easily learn about our customer’s needs as well as our competitor’s moves and plan our next moves effectively. Great tools are available to map IP, the preferences and requirements of our customers and competitors and the moves. One such example is to look at IP mapping. Similar to IP mapping, you could also use M&A moves to learn new insights into your business environment.
Monitor weak signals:
Reading weak signals often give you an insight into early innovations from new entrants in the market. This information can help you make new innovations in the existing industry you’re currently in. Weak signals usually comprise of new entrants, adjacent technologies, new innovations, or new customer segments and new usage of our products. Reading these signals can not only help you chalk your way high but also change the way your business operates.
Last but not least…
Balance richness and reach:
Richness refers to the act of venturing deep into the business, usually in small groups whereas reach is about broadly venturing into the large parts of the organization, which includes fact-finding and testing using surveys. With the inception of digital technology, we can survey our organizations and their response in the market easily and expansively. In addition to these, you need to be sure about the business model and also monitor if from time-to-time to see if it is still relevant against the changing market trends and business environments. In the end, no business strategy can be a one size fit for all or is a panacea for all types of organizations. As each business, organization and its publics are different, it is about finding a strategy what works best for you, and also seeing that it stays relevant throughout the business cycle with your customers, competitors, stakeholders, employees and yourself.
About The Author
Sunny Chawla is a Marketing Manager at AIS Technolabs which is Web design and Development Company, helping global businesses to grow by Digital Marketing Agency India Services . I would love to share thoughts on Social Media Marketing Services and Game Design Development etc.
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