Digital strategy is a plan of action designed to achieve business goals via digital initiatives. It maximises the business benefits of data assets and technology-focused enterprises. In addition, it involves breaking down the silo between information technology leaders and those of other customer-facing departments to deliver a consistent digital customer experience.
Today’s businesses know that digital processes and an online presence are essential. Yet, many companies fail to fully take advantage of this or do so with little or no direction. A digital strategy is the best way to take the lead on competitors, capitalise on current trends, and prepare for the next innovation.
Here are seven benefits of having a digital strategy.
1. Learn more about your business through discovery & research
Discovery is the first step in building your strategy. You get to learn about who you are and why you exist. You identify your purpose, vision, mission, and values. The discovery stage is a foundation to build a robust digital strategy. You can also reevaluate your online goals, content strategy, target audience, brand voice, and more.
2. Identify your strengths, weaknesses, opportunities and threats.
Digital strategy sessions include a SWOT analysis. During this analysis, you uncover your strengths and weaknesses to optimise or reevaluate them. Discover new hidden opportunities to take advantage of, and keep an eye out for possible threats lurking in the shadows.
3. Know your ideal audiences and where they spend most of their time online.
In this rapidly evolving digital age, everyone is looking at a screen at some point in time in the day. A robust digital strategy allows you to identify your user-profiles and their mostly patronised online platforms. This information helps you develop a solid content strategy that determines Where, What, and When to post on the World Wide Web 😉
4. Position yourself to stand out in the marketplace
Have you ever heard of ‘disruption’? This is how big technology brands cause radical change to an existing industry or market due to technological innovation. How do they do this? It’s simple. They stand out from the crowd! Your digital strategy allows you to discover unique opportunities to differentiate your business. Without a precise system, you will not have a unique expression online. As a result, you won’t easily stand out or be remembered.
5. A good strategy equals a good plan of action.
An excellent digital strategy serves as a blueprint and lays out action steps towards your goals. It will also help you determine targets to hit, tools, techniques and other resources you need that will lead you to success.
6. Effectively track Return on Investment (ROI)
One of the most significant benefits of a digital strategy is identifying benchmarks and tracking ROI with the tactics implemented. Online platforms now make it easy to measure performance with powerful analytics. This information helps you determine your investment risks to manage them and your assurances to push in more resources.
7. Get your entire team aligned.
With a good digital strategy, all departments sync with all the business’s digital needs and tactics. This means your business can communicate with a consistent brand message across all customer touchpoints. Your audience can detect coherence in your brand voice and build trust in your brand.
Start Reaping the Benefits of Digital Strategy
You can see that digital strategy has so many benefits even beyond the seven mentioned in this article. In our opinion, the top benefit is the plan of action or sense of direction it provides your business. No matter your business, you can benefit from investing in a good digital strategy to guide you in this rapidly evolving digital landscape.
Not sure where to start with your digital strategy? We create custom digital strategies tailored to your business goals. We help clients pinpoint emerging opportunities and find incredible value by harnessing the full power of digital. Please send us a message.