Defining Strategy: an Interactive Road map
Organizations can realize meaningful competitive advantage by developing formal digital strategies that support key business and marketing objectives. By proactively designing, measuring and optimizing these digital strategies and programs, maximum return on dollars invested can be achieved.
Organizational investments on Internet-oriented marketing and sales initiatives over the past 15 years have increased from virtually nothing in the mid-90s to millions of dollars annually. Today, digital activities run the gamut from multi-functional websites, search and email marketing, banner advertising, web-enabled multimedia, and, of course, social media.
This seismic increase in spending is not without good reason: digital marketing works – for new customer acquisition, lead generation, and brand building. However, given the speed at which the interactive marketplace has evolved, it should come as no surprise that many organizations now find themselves with sprawling, disjointed digital marketing operations that lack a central vision and useful measurement systems. ~ Connie Amidei, Chief Digital Strategist, AmiTec Consulting.
As a result, organizational leaders find themselves struggling to devise, measure, monitor and optimize the performance of these scatter shot interactive programs – which now have the full attention of the entire team. And subsequent digital strategy and budget planning discussions are often overly reactive and disorderly, lacking a structured framework and methodology to guide the process.
The Building Blocks of Digital Strategy
While the digital medium provides leaders wit h a dizzying array of exciting new tools and techniques, it hasn’t fundamentally changed the way most organizations do business. As such, digital strategies need to be considered within the context of an organization’s top-line objectives.
Discovery. Establish a sound understanding of the organization’s underlying strategies and personality, including: unique value proposition, industry nuances, target audiences, sources of competitive advantage
Competitive Analysis. Evaluate the organization’s digital operations vis-à-vis the competitive landscape. Specify competitor strategies and spending levels. Identify relevant secondary research and conduct primary research. Determine industry best practices and applicable best-in-class tactics being employed in other sectors.
Recommendations. Deliver specific concepts that can be employed to support organizational objectives and which can be measured. These can include: innovative techniques for deployment, and integration opportunities, budget re-allocation, and organizational adjustments. Establish measurement frameworks, and digital goals and objectives.
Each phase of this methodology, while interdependent with the others, can be pursued in parallel in order to streamline the process and be completed quickly. Core tenets of this approach are a 360° perspective of the issues, the combination of quantitative and qualitative inputs, and specific recommendations that can be measured and optimized over time.
AmiTec Consulting Group works with clients to pursue digital transformation initiatives that result in new revenues, competitive advantage, and more efficient operations. Please contact Connie Amidei, Chief Digital Strategist at AmiTec Digital. Connie@amitecdigital.com or at 352.281.2681.