The digital behavior and expectations of customers is evolving faster than most industries are able to deliver, meaning we have to leverage digital products and channels strategically and rapidly.
The Value of Digital Influence
The Digital Me methodology acknowledges that the digital and physical are no longer separated. They have seamlessly merged into a single life journey. Our days are made up of countless moments and touchpoints where digital either intrudes, helps or provides clarification. Nowhere is this more evident than in commerce, where digital influences as much as 50 cents of every dollar spent in retail stores.
Think about it, a customer who has had meaningful interaction with your brand or product prior to entering a store converts at a much higher rate, since the digital experience is part of the complete customer journey ending with an in-store purchase.
Most shoppers today have “checked you out” online before making a purchasing decision, making them more likely to make a purchase at the right time. The more commoditized the product, the higher the digital influence is.
The Six Stages of Digital Adoption
- Plan and Build
- Insights
- React and Learn
- Iterate
- Innovate
- Influence
In the early phases of digital adoption, an organization simply needs to build, react, iterate and learn.
The next phases are about innovation with the insights you’ve gained and organizational strength you’ve built over time.
Then you reach the stage of influence when your well-executed digital customer journey is felt across your industry
Responding to Digital Disruption
The digital behavior and expectations of customers is evolving faster than most industries are able to deliver, meaning we have to leverage digital products and channels strategically and rapidly.
We need to think about digital applications as a critical component of an end-to-end customer journey and embed them with the tracking and analytics that will allow you to optimize business results over time.
Incumbents are responding to the digital disruption around them in a four basic ways
- wait-and-see what happens
- acquiring startups with technology, talent and speed
- spend the capital and manpower to upgrade IT and operations
- outsource digital application creation to jumpstart their operations
The bottom line is this, In order to exert digital influence, you need a high quality digital product in the market. Here are some things to think about when pursuing your digital product development roadmap:
- Have you launched a mobile platform to support your business
- Do you have an in-house team to promote digital product innovation
- Are you currently taking advantage of digital sales channels
- Metrics are used to measure the performance of each sales channel
- You have a cloud policy for your digital enablement
- If you're a product or hardware company, you see software as key to product growth
Click here to see some of the projects we have delivered for our clients.
