It is common knowledge that digital transformation has affected every possible sector – even the most conventional ones like finance, healthcare, education, and NGOs. Both B2B and B2C marketers have adopted the digital route to showcase their promotional content.
Digital Business Strategy
According to a comparative study by Intercom.com on popular channels used by, B2B marketers, Email accounts for 93%, Twitter for 77% and print, only 30%. However, not all organizations are plowing back profits with the DX drive owing to many reasons including the below:
#1 Going Digital without overcoming resistance to change
As with any other innovation, the digital strategy makes take time for people to adapt to. The conventional marketing strategies put the product and the business pretty much in control. Taking a meaningful departure, digital marketing is customer-centric. User controlled communication methodologies like in-app messages, SMS and emails are used. The brainy and innovative digital marketing whizkid is a tight corner when the senior leadership does not take a liking to change and change management. Marketing automation makes the marketing function more dependent on processes and less on people. Such a transition might take time to sink in.
#2 Lack of measurable KPIs for digital strategy performance
The digital business development paradigm has to defined and tracked well. There are multiple channels that can be quite unnerving for the inexperienced online strategist. From mobile marketing to SEO, from social media marketing to online affiliate marketing, there are plenty of platforms available to make for a rewarding online presence.
KPIs need to be measurable and realistic. The number of impressions, organic shares, click-through, conversions, average order value, customer lifetime value – the list is endless. Analytics is an important buzzword that will strengthen your digital strategy. It deploys cutting edge technology like AI and machine learning and shadows every segment of the customer journey. It validates results with hard data and not intuition or guesswork.
#3 Paucity of dedicated talent
Whether the digital strategy is being conceived and implemented in-house or a specialist third party creative agency is roped in, talent-related challenges are aplenty. Apart from a laundry-list of technical and academic qualifications, one needs to be conversant with keyword research, content marketing, link building, web designing, CRM, media buying and programmatic advertising. Above all, such resources must be willing to go every extra mile in orchestrating unique customer experiences. The resources must use the right tools in the right context of the customer, revealed by an analysis of demographics like age, income, ethnicity etc.
The above hiccups can become a potential danger and can cause digital marketing budgets to swell without a corresponding ROI. The embrace of digital cannot be perfected without seasoned knowledge of various techniques, tools, and their application. There has to be a balance between technology and human intuit in your digital strategy.
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About the author
Srivathsan is the Client Advisor at Zuci. He specializes in advising and offering critical customer-centric solutions to new and existing customers for the best end-user experience. A food and travel blogger, check him out at Srivathsan Kanan