What is DIGITAL STRATEGY? What does DIGITAL STRATEGY mean? DIGITAL STRATEGY meaning & explanation
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What is DIGITAL STRATEGY? What does DIGITAL STRATEGY mean? DIGITAL STRATEGY meaning - DIGITAL STRATEGY definition - DIGITAL STRATEGY explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
A digital strategy is a form of strategic management and a business answer or response to a digital question, often best addressed as part of an overall business strategy. A digital strategy is often characterized by the application of new technologies to existing business activity and/or a focus on the enablement of new digital capabilities to their business (such as those created by the Information Age and often as a result of advancements in digital technologies such as computers, data, telecommunications, Internet, etc.). As is the case with its business strategy parent, a digital strategy can be formulated and implemented through a variety of different approaches. Formulation often includes the process of specifying an organization's vision, goals, opportunities and related activities in order to maximize the business benefits of digital initiatives to an organization. These can range from an enterprise focus, which considers the broader opportunities and risks digital can create and often includes customer intelligence, collaboration, new product/market exploration, sales and service optimization, enterprise technology architectures and processes, innovation and governance; to more marketing and customer-focused efforts such as web sites, mobile, eCommerce, social, site and search engine optimization, and advertising.
There, are numerous approaches to conducting digital strategy, but at their core, all go through four steps:
1. identifying the opportunities and/or challenges in a business where online assets can provide a solution;
2. identifying the unmet needs and goals of the external stakeholders that most closely align with those key business opportunities and/or challenges;
3. developing a vision around how the online assets will fulfill those business and external stakeholder needs, goals, opportunities and challenges, and
4. prioritizing a set of online initiatives which can deliver on this vision.
Within each of those stages, a number of techniques and analyses may be employed.
As of 2007, a trend in digital strategy is the use of personas as a framework for using customer information to prioritize online initiatives. Personas are character sketches which represent a typical member of one customer segment and highlights their needs, goals and behaviors. Because it is representative of a customer segment, it allows decision makers to prioritize various features based on the needs of the segment. Because it is a character sketch, it is sometimes easier for decision makers to internalize the key needs of the segment than it would be by reading large quantities of information. A typical approach is to create the segment based on customer analysis such as customer interviews, ethnographic research, and statistical surveys. Then assemble key decision makers or stakeholders, present the findings of the personas, and use them to kick start a brainstorming session around different online initiatives which can meet the personas needs and goals.
Historically, execution of a business or digital strategy is done as a big bang, with large initiatives such as site redesigns and transactional systems taking 6â12 months to develop and often an additional 6â12 months before they deliver any results. As of 2007, a trend has emerged where companies adopt a more iterative approach to rolling out their strategies, one which leverages a series of smaller tests, which are carefully measured and analyzed and used to modify or optimize the digital strategy. An example of this test-measure-optimize-scale approach is that a company might take some key pages on their site and test a number of versions of those pages with different marketing messages, design approaches, user experience optimizations, navigation optimizations, and even new features and functions using a multivariate or A/B test.
Led Digital Marketing Efforts of Top 500 e-Retailers.
Worked with Top Brands at Leading Agencies.
Successfully Managed Over $50 million in Digital Ad Spend.
Developed Strategies and Processes that Enabled Brands to Grow During an Economic Downturn.
Taught Advanced Internet Marketing Strategies at the graduate level.
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