In today's world where everybody is strategising the steps they take to fill up their pockets, is it wise to leave the digital coin unturned for the same? Whether you don't have a strategy or you might just want to review the business issues causing the major problems, we have out-lined 8 most common problems, which in our experience, will arise if you don't have a proper digital channel strategy.
1. You won't be able know your market share
The customer demand for online services may be misjudged if you haven't researched this. Perhaps, you won't be able to correctly comprehend your online marketplace. These dynamics will be a bit different to traditional channels with different types of customer profiles and behaviours propositions, competitors, and options for marketing communications.
2. You are directionless
We often see that companies without a digital strategy (and many that do) don't have a clear set of strategic goals for what they want to achieve online, whether in terms of gaining new customers or to build deeper relationships with the existing ones. And when you don't have such pre-defined goals, it is likely that you neither put enough resources to reach those goals and nor evaluate them through analytics to maintain the current relationships.
3. Existing &Start-up competitors will gain market share
If you are not dedicating sufficient resources to digital marketing or you are using an ad-hoc approach with no well-defined strategies, then your competitors will definitely eat your digital dinner.
4. You don't have powerful Online Value Proposition
A well-defined online customer value proposition is one which will help you to differentiate your online services encouraging both the existing and new customers (engage initially) to stay loyal.
5. You don't know your online customers well enough
Often it's said that Marketing, in the Digital Platform, is the "most measurable medium till now". Apart from Google Analytics which tells you volumes of visits and not the sentiment of visitors and what they think, you need to use other forms of user feedback tools (for websites)to identify your weak points and then address them.
6. You are wasting Money and Time through Duplication
Even if you have enough resources, they may be wasted. This is particularly in the case of big companies wherein you will see different sections of the Marketing department buying different tools or even using different agencies for doing same or related online marketing tasks.
7. You are not active enough to Catch up or Stay Ahead
If you have a look at the top online brands like Amazon, Google, Dell, they all are dynamic, that is, they keep trying new approaches to gain new or keep their old online audiences intact.
8. You are not Optimising
Every company with a website will have an Analytics tool attached to it.However many senior managers don't certifiably agree that their teams make or even have the time to review or/and act on them. Once the strategy enables you to get the basics right in shape, you can move towards continuous improvement of the key aspects like e-mail marketing, social media marketing, user experience (website) and search marketing, etc.
So that is the list of top 8 problems which can be avoided with a well thought through strategy. Find here on how we provide many more solutions to all your digital problems.