Does it still make sense to talk about digital strategy?

As long as we continue to work with the digital transformation of companies, it will still make sense to talk about digital strategy. Perhaps one of the reasons why it continues to be so interesting is because there are many different definitions of the same concept.

Strategy from a digital point of view

When we think about and plan a digital action, there is a general tendency to call it a “digital strategy”. But in reality, it could just be a social media, content or online marketing strategy. From our point of view, all these elements can be inside a digital strategy.

Our recommendation is to go even one step further: not only should we address the channel strategy, we want to highlight that it is also important to develop the digital business strategy of companies.

At this point, many people will probably argue that the only significant strategy is the one that integrates the entire company - and that focusing only on digital is throwing stones on your own roof. We totally agree on that!

In Novicell, when we work with strategy, we focus mainly on business strategy but from a digital perspective.

What is generally forgotten when working on a classic strategy is that we are in a rapid process of digital transformation. Therefore, if a company wants to transform itself together with the world and its customers, it only needs a digital starting point for the development of its business strategy.

Once companies have become accustomed to the world of digital transformation and have developed their business strategies, then we can start talking about the term “digital strategy” simply as “strategy”.

And here we are approaching a significant challenge: The typical attitude of companies is that “digital” is a marketing task. In the best case scenario, a specific department has been created in charge of the online department. So, the decisions and responsibilities fall on this department.

“Digital“it's still part of marketing, but it's more than that. First, “digital” is a discipline that requires a great deal of collaboration across the organization. It is necessary to ensure that the customer journey is interrelated between all points of contact, and also, that the organization's internal systems and departments work together to achieve established objectives.

Second, “digital” must be understood in the same way by management and by administration. In this case, you should focus on How digital development affects the company's strategy and goals and, how the company can exploit this development.

“Digital” is and becomes a fundamental part of the reality of our clients, in the way they live and act (affecting the entire business). Therefore, we cannot consider “digital” as a discipline separate from the business and have it isolated in a single department. On the other hand, companies must integrate digital discipline in a natural way into all classic areas of the business. Not only in marketing and sales, but also in business development, product development, organizational design, process optimization, etc.

And it should be a recurring focus of business management. Digital transformation and digital business strategy are not closed issues, which once resolved you wash your hands and can address other challenges. Of course, there will always be new challenges that management has to take care of. However, if the company wants to be among the winners of this league, then the work of digital transformation must continue, as technological advances continue, growing customer expectations and the desire to advance competitors.

How do you achieve digital transformation in your business?

When you want to develop a digital business strategy, the first and most important thing to do is to get management's commitment and anticipate: What is the desired objective of the strategy? Should the strategy trigger digital transformation for the entire business? Or should you initially focus on one part of the business?

Then, following a model that ensures that you can identify the most effective digital efforts and transformation processes or even challenge and elevate your global business objectives. That is, you end up with a plan that can affect both your overall business strategy, products and business models, customer interaction, data, internal processes and systems, and your way of organizing your business.

Model created by Novicell for digital business strategy:

In the phase of recension should focus on mapping customer needs and expectations, the objectives and interests of the business, market development and the positioning of competitors. Finally, it is equally important to discover the resources and competencies available in the organization, which will ensure that the strategy becomes a reality. Next, we will have an overview of the key challenges and opportunities and will be able to identify where there is untapped potential that can lift the business.

In the strategy phase, we will determine our ambition and direction for digital transformation based on the key challenges and opportunities of analysis. We will now be able to identify the most important areas of strategic focus and the objectives to be achieved.

In the operational phase, the areas of strategic focus are broken down by means of a prioritized action plan divided into phases with the specific steps that will be carried out in the desired transformation processes. It's also important to be here to visualize the necessary internal resources, competencies, processes and organizational changes needed to enable us to carry out our digital transformation.

The dividend phase must reveal the financial consequences, how much does it cost to implement the strategy and the transformation? What is the economic benefit to the business?

Finally, we must ensure resources and procedures for the continuous progress and monitoring of the implementation of the selected bets. But also a continuous evaluation and adjustment of the strategy. In fact, a digital transformation is not a process that has an end date.

How can we help you?

If you need more information do not hesitate to contact us.