First published in the Ottawa Chamber of Commerce email Newsletter, May 23, 2013
What is Your Company’s Digital Strategy?
Many businesses are aware of the potential digital represents – perhaps for cost savings and improved efficiencies; perhaps for increased sales – but ultimately, for improvement in the overall business. Yet, there is also a sense of feeling overwhelmed by digital and its never-ending waves of change. Which path to take: web? Email? Mobile? Social? All of the above? What to do?
Digital strategy is about competitive advantage
Take a step back to see the larger horizon: your company’s digital strategy is about more than the latest buzzword. Instead, its potential makes it about the larger issue of competitive advantage – identifying it, articulating it, and achieving it.
Yesterday, digital opportunities were limited by bandwidth and a lack of critical mass in the marketplace. Today, digital allows us to better connect our people – customers, constituents, donors, employees, partners – to improve the experience of doing business with our organization. Improving that experience pays off – retaining a customer, employee or supplier is simply more cost effective than acquiring new.
Yet, we’re also challenged by the simple reality that the way our digital stakeholders interact, learn and share has outpaced business’ ability to respond. And every succeeding generation appears to have an instinctive understanding of this world which most of us are still learning. Great. Now what?
Address organizational expectations vs. operational readiness
Make a plan that addresses the realities of organizational expectations and operational readiness. It will become the road map that connects the reality of where you are and where you need to go, to meet those evolving expectations. Identify the risks digital might bring, but don’t let them stop you from uncovering new opportunities. Finally, take advantage of the insights digital data generates – it’s what makes digital fundamentally different from our offline world.
In reality, digital is impacting across all channels, is forcing transparency, and is making it easier for new competition. Organizations that take digital out of its marketing and technology silos and see it a competitive advantage are weaving their digital strategy into their business strategy – challenging what was, acknowledging what is and planning for what could be.
Get advice from other companies facing the same challenges
What’s the next step? Attend Digital Strategy Conference, the first of its kind in the National Capital. From June 3-5, 2013, benefit from three days of advice on how to articulate your company’s digital strategy.
Ottawa Chamber of Commerce members receive a special discount!. Please visit members only section on the Ottawa Chamber of Commerce website.
It’s time to get strategic with digital.