Digital Strategy & Transformation for start ups | Richard Anning | Skillshare

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Digital Strategy & Transformation for start ups

teacher avatar Richard Anning, Digital & Psychology investigator

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

16 Lessons (1h 16m)
    • 1. Digital Strategy - Intro

      1:12
    • 2. Digital Strategy - What is a Digital Strategy

      2:03
    • 3. Digital Strategy - Why is it Important

      4:47
    • 4. Digital Strategy - Digital Transformation

      8:49
    • 5. Digital Strategy - Digital Ecosystem

      6:18
    • 6. Digital Strategy - Key Business Models

      5:09
    • 7. Digital Strategy - Key Characteristics of Digital

      4:17
    • 8. Digital Strategy - Key Elements of a Digital Strategy

      13:08
    • 9. Digital Strategy - How to build a Digital Strategy

      2:17
    • 10. Digital Strategy - Audit

      4:05
    • 11. Digital Strategy - Define Strategy

      7:23
    • 12. Digital Strategy - Analytics

      3:27
    • 13. Digital Strategy - Implementation Plan

      2:40
    • 14. Digital Strategy - Examples

      2:39
    • 15. Digital Strategy - Best Practices

      4:47
    • 16. Digital Strategy - Final Thoughts

      2:33
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About This Class

This course will help you quickly establish a company wide vision and framework for developing and implementing a winning digital strategy and transformation program.

Establish And Lead A Successful Digital Strategy And Transformation Program.

  • Learn how to define a successful and comprehensive digital strategy
  • Establish a vision and plan and build company wide support
  • Define and layout an integrated transformation roadmap

This course helps you understand, communicate and build the consensus required for your company to develop and execute a successful digital strategy and transformation program.

It is designed to provide you the insight and skills you you need to transform your company into a digital leader capable of thriving in a market driven by continual digital innovation. It includes 28 lectures, as well as discussion guides and work books that help you organize and execute quickly and effectively.

Topics covered in this course include:

  • Market drivers and digital disruption
  • Transformational opportunities and threats
  • Working with visionary customers and partners
  • Development of transformational digital product, marketing, and operational systems strategies.
  • Capabilities and competencies required to build and sustain your company's role as a digital leader including:
  • “Always-On" Customer and Technology Insight
  • Leading Edge Data / Analytics
  • Continual Innovation
  • Development of a Digital Culture
  • And, the key phases of digital transformation and the requirements for their success.

This course is part of the “Competing for the Digital Future Leadership Program for Digital Strategy and Transformation". It passes on lessons to you based on years of experience working within Silicon Valley for companies like Apple and Adobe as well as startups, helping them and their customers transform emerging technologies into business momentum

It will save you and your company months of precious time by helping you organize and align the efforts required to set your company on a path to digital leadership and avoid the pitfalls that lead to digital disruption.

Who this course is for:

  • Senior leaders in marketing, product management, IT, and executives who are or will be responsible for developing and implementing their company’s digital strategy and transformation effort.
  • This is a “masters” level program and course. It is designed for students with experience in business, technical, marketing, and product management, business strategy and program management with a passion for translating technology into business momentum.
  • This is not a course in digital marketing transformation.

Find out more at the The School Bell

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Meet Your Teacher

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Richard Anning

Digital & Psychology investigator

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Transcripts

1. Digital Strategy - Intro: Hello and welcome to this digital strategy workshop with me, Richard an ing this workshops going to cover everything digital strategy related over the next hour or so on. Uh, I hope you enjoy it. So a quick overview of what I'm going to cover first thing is the quick intro that I'm doing now and then we'll dive into what is a digital strategy. Give a quick overview of it, Then we'll cover. Why is it important? One of the big areas that come up in any digital strategy? Conversation is digital transformation. So we'll talk a little bit about that before diving into the digital ecosystem. Just the why do ocean in which we will serve when my surfing the Web and then we'll do a deeper dive into a digital strategy will break it down into its component parts and look at how it's all put together before looking at how we can create one for ourselves and how you can create one for your business, Then moving on to a few best practices that bear in mind when creating one before doing the final forts and signing off in about an hour's time 2. Digital Strategy - What is a Digital Strategy: the first things first. What is a digital strategy did through strategy is essentially a framework for creating on optimizing a business model based on digital capabilities. Now, obviously, it's a lot of long words strung together, so it might not make much sense now. But stick with it, and as we go through the workshop, it'll become clearer and clearer as to what exactly that means quickly break it down. Now a digital strategy is the process of identifying and executing on digital opportunities will increase. Your organization's competitive advantage will go through how to identify and how to identify it or how toe identify on how to execute against these opportunities as we move through the workshop. So a quick breakdown of digital strategy, really you should be thinking about how can I optimize a digital? How can I optimize my business model digitally? Which means, if you're selling something a subscription, a service or product, what can digital do to help you, then our digital impact, different business areas that you have so the sales marketing, the hay char the analytics. After this, it's around identifying KP eyes like increasing sales, decreasing costs and optimizing production. Then Once you have your KP eyes, you can look at how to identify and prioritise strategic initiatives to achieve these goals . So this is just a quick breakdown over digital strategy to keep in mind as we look fruit the next few areas, such as transformation and ecosystem. It's around how digital impacts the business model, what you want to achieve and then prioritising street objectives to a tree. These goals. 3. Digital Strategy - Why is it Important: So why is a digital strategy important? First exist, fundamental to understand the pace of trains that digital is brought to the world. Digital as we know it is less than 30 years old. It started around 1990 when a man named Tim Berners Lee invented what we now know is the World Wide Web. So this enable computers to be connected to one another and to send data packets across basically little wires to connect different computers, allow them share information and from this rather humble beginnings grown in tow, what we know is the Internet and digital today. So the Internet itself has only really been popular since around the turn of the millennium . Took around 10 years toe leave the government labs where it was initially begun and if you can believe it, when the Internet was first created, it was illegal to perform any financial transactions on it because people were so unsure of what it waas. So I only really started becoming popular in the last 20 years when it started becoming a commercial product. A lot of the day's technology was unimaginable 10 years ago on this means a lot of today's business is a very new. They've only been around for the last 20 years or so, and it's funny. Now. Digital was created products on business models that directly oppose what people believed a few years ago. So an example people often give is that used to be thought that you shouldn't get in cars with strangers on. You shouldn't give your details to people you don't know. But with the advent of uber, we now summoned strangers from the Internet to our house to get into their car. So the world is changing very quickly, and if you don't have a strategy for keeping up with it and for identifying opportunities and threats, you'll soon get left behind. And, as you can see, Wal Mart was in danger of being completely over. Taken by Amazon on Amazon Managed Come One of the biggest retail isn't well that ever opening a physical store. Airbnb has been a headache for a lot of hotel chains, even though they own no real estate. Netflix actually now has brought its own cinema, but it still managed a wipe out blockbuster without really owning a single DVD or the eight testers. It used to be known yellow cabs or your local cab office has been rendered largely redundant by uber. And to say Facebook has killed The New York Times is maybe a bit of a stretch. But certainly old forms of media have really struggled to keep up with the likes of Google and Facebook, even though Google and Facebook don't create any content. So what you can see is, if you're not keeping up with the pace of change, you're going to get left behind very quickly. Is it ever not important that are there times when you don't need a digital strategy? Well, sometimes that may be true if your customer is a large company. Such is you're a farmer who sells toe one supermarket, and you're pretty sure you'll only ever sold to that supermarket. You might not need a really comprehensive digital strategy. Or if you're a very small shop in a local town where everyone knows you and they pretty much have to buy from you because you're the only guide men's shoes or you're the only locksmith in the town, you might be safe. But it's very risky to assume that digital won't affect your business model at some point improbably of next to entertain 10 to 20 years. Most businesses are going to be affected by it. On most, 80 90% of business is going to be affected by much sooner than that. Even if you think about companies like Coca Cola who don't seem like they needed digital presence at all. Do need a digital presence because even if your business doesn't rely on it, Coca Cola sold through shops, restaurants and bars. Journalists who need information about them will probably look online to see who they can contact and how People who want a job. But Coca Cola probably will go to their website, see if they have any vacancies. If a producer a supply, I need to get in touch with them. They're almost certainly going to use the Internet to do it. So even if you don't think you need digital, other people probably think that you will need some sort of websites. Some information about yourself, because the world is starting to expect everyone tohave an email address in a website where they can get in touch with them. 4. Digital Strategy - Digital Transformation: So one key area to understand is what is digital transformation. Essentially, digital transformation is the notion that you take something that used to be done in the offline world or the physical world and put it online. So some of the biggest transformation types we have is you make it cheaper when people think of online stores eft and think about things becoming cheaper. So I am ISM was one of the most well known ways of doing this. Andi, it's there's only one of the biggest ways. So if you think about poor, offline bookshops sort of got struck blind by Amazon, who came in and sided, offering the products that they were offering much deeper on this is a very common transformation where people use digital to make things much cheaper. You can also make things faster or easier by putting them online. So if you think about it, people not so long ago used to go to physical stores, probably some distance from their house, um, by a movie or rent a movie. Or they used to go into a shop that, specially dedicated to all the new movie to all the new music and northern new releases on essentially Day by a CD or they buy an album. And basically this was obviously a very long winded, intensive way of getting the bit of content that you wanted. It was also not the easiest way to find new content. So if you wanted to find something new, it was a bit of a labor of love. You'd have toe by a lot of magazines, which is obviously more expensive because you have to buy the physical magazine to find out the information. Then you have to go to the physical store, which might cost you money. Then you had to buy the product on. Some people who only wanted one song would be forced to buy a whole album. We'll be forced to buy membership, and then you'd have to pay a membership fee. Easy of interviewing, getting new content. And there was very little personalization within these stores has. Now Spotify and Netflix make it very cheap toe have almost unlimited content, and they make it much easier, much quicker to find the music you want or to be introduced to music or movies or feel or Siri's that you might like the final way of doing something dutifully is to make it a higher quality experience. This really isn't so well known as the first types. Most people, when they think of digital, think about even being easier, faster or free. So Google certainly has made things faster, easier and cheaper. If you think about Google maps, it effectively killed the GPS industry because people just use Google maps because it's so incredibly efficient and it's seemingly is free to use. But gurus first, killer transformation was it took the idea off finding information and made it a much better experience. So if you have to go into a library or you had to try and find out some information, somehow in the real world, would it be a long, arduous process on often the information that you receive will be out of date, and it was sometimes quite difficult to understand if the information you receiving was accurate. Now Google does have its own problems of this, and obviously people like Facebook on a with the large digital platforms like Twitter have been in the news recently, and they've been in trouble recently because they're not apparently higher quality. But Google's first search first product, which was searched, made it a lot easier to find information on. It was actually credited with fund the reasons for making insurance a lot cheaper It was all of a sudden it became very easy to find out exactly what all insurance policies were, how much they were. Andi, how much you are actually getting for how much you're paying the same with flights. So Google made it very easy to get a lot of information quickly without needing to go anywhere. Ropes, please have some of the ways in which digital was transformed. Businesses. Andi whole industries. One thing to remember is that technology doesn't equal innovation. So going back to our digital strategy that we were thinking about at the beginning, digital transformation has become a bit of a buzzword on. People think every time there's a new technology, there's innovation all days, a strategy. This just isn't true. Technical innovations may come and go, but digital is all about the strategy and the business models that underlie it. So if you think about what Apple has been doing, it's when it brought out the iPod. That was a new technology, but it was also connected to digital innovation on a general strategy with iTunes so linked technology to on actual digital strategy and business model. When a technological frontier is crossed, people often declared that the world is on the brink of a major transformation. This just isn't true if you think about TVs. There was one technological frontier that they crossed a few years ago or quite a few years ago, that did transform people's lives on. That was essentially moving from a massive TV that looked like a big square toe, a tiny little rectangle TV with a flat back that was a huge frontier. Since then, they tried and tried again to repeat the feat, to try and get people to buy a new TV. So if you think about it, they did free D TV, and that was supposed to be the next big thing. Or they did a curved TV, and that was supposed to be the next thing that these didn't take off because there wasn't a real strategy that there wasn't a real business. Part of that technology only becomes mainstream. It only becomes disruptive, which is highly overuse word, but only disrupts traditional industries when it could be strategically applied to a value to use in need. And if you think about the word strategically, this means there's a user need. There's a business model in a business case to be made for it, which means that it's going to be profitable and the business can sustain itself. Customers want to buy, and there's some way to deliver it to customers. And if you think about it, that is a way in recent years that the TV has again been fundamentally changed meant that most people are going out to buy TVs with this new technology. And if you think about what that technology is, that technology is actually smart TV's. So now most TVs that you buy. For most people, you speak to have a smart TV for the reason that they want to watch Netflix. They want watching YouTube. They want to be able to share this whatever's on their computer, to their TV or their phone to their TV on. That is a digital strategy, so it's not just a new technology. It's an actual strategy that links to a digital transformation. One thing that you'll notice very quickly when there is a transformation is that it becomes the new normal. And so now most companies are digital. Digital transformation is a buzzword is really going to start dying down. As people focus on digital strategies, people often get them confused. Transformation. Do you think about it is just coming up or implementing some sort of new technology or moving something physical into the digital world? But it's taking over so quickly that it's just become the new normal on the new normal that you may be able to see in this photo. Is this guy here? Second in from the left, he is doing what we now know as the crouching start in 100 meter sprint. He was the first guy to do use the crouching start in 100 meter sprint on. Needless to say, he won by about a second and 1/2. But then the next year, everyone started doing the crafting starting the 100 meter sprint. And if you think about digital, that's essentially what's happening. It's so effective that almost everyone's doing it 5. Digital Strategy - Digital Ecosystem: now, what that is meant is that there's a massive digital ecosystem out there. So many companies are trying to be digital. The word digital itself has expanded almost beyond recognition from when it first started as the World Wide Web to what it is now. So it's important that we have a little understanding of what, exactly we mean when we use the word digital digital strategies what a strategy could mean within the ecosystem. So this is what happens every 60 seconds on the Internet. And actually, if I'm being honest, I got this slide from about a few years ago, maybe four years ago now, so it's probably moved on a lot, but what you can see at the top, it's sort of Google searches Facebook, people logging in, sending messages to each other. Then, as you move around the will to see people just creating and consuming vast amounts of content, they're living there, lives online, they communicate with each other online, they find love online. They're conducting their businesses online. Basically, the destroyer ecosystem is a wall of thes things and mawr together. The ecosystem is also every computer, this power point that you're seeing online people learning online they're going to university online. Now they book their holidays online. The juicy Lucy ecosystem is every app, every website, every platform, every song you stream or every course you take that makes up digital ecosystem. So any digital strategy is going to need Teoh encompass this ecosystem. Now let's have a little look but the history of digital. So, as I said, we started in 1990 with very basic websites. The first websites were essentially just online brochures or online experiments that looked very much like bland old word documents. Then, around the year 2000 we got something that's known as Java script on CSS, which allowed websites to become a lot more colorful and more interactive. And if you had the good fortune of being alive and using the Internet around this time, you'll notice this is when website suddenly exploded in colors. Ball pops. This is when the first banner advertising happened on This is when websites really started to be able to let you add things to your car to let you to watch videos. Andi. That's when websites really such comes therefore moneymaking thing. Of course, it is also the year 2000 when the dot com boom happened. And this is a lot because people didn't have a digital strategy. They had a technology. They decided to build a website. People investing vast sums of money in it, any sort of business. Even if it didn't have a strategy, then people learn from this, lick their wounds and created better companies for 2005 was a banner year. New companies with things like Facebook Going live wasn't the first social network, but it sure is. How is one of the best known networks was important because it allowed people to reach people. So before this time, mostly before the turn of the millennium, it was mainly just Cos showing their wares to customers. But now it allowed people to upload their own profile toe, have their content online and to share it with their friends. It also was the first time that we saw real new business models and new strategies. Evolving is the first websites and interactive website for generally from existing brand selling physical products to consumers, Then what happened in 10 4015 around 10 years ago is that the roaming data on the two G moved, Afridi and Free G moved to forge, and that meant that people could take the Internet and digital with them due to. Of course, Apple and the iPhone really helped this, but this allowed people to go mobile their mobile laps. They were able to take their friends on the social media with them in their pocket, which then creates the whole new raft of business models. So if you think about Google maps, that's a huge room because your phone could have an accelerate an accelerometer which showed how far you're going and where you were. The enable things like tinder, which meant that you could take it wherever you were and start using it in the toilet on Instagram. When people aboard, they can just swipe through these. And now, finally, in 2020 we're starting to see the cloud, and the cloud is enabled. We're starting to enable the Internet of things where, even if the product doesn't have a huge CPU, it doesn't have a lot of processing power. It can still be digital, so if you think about cars and fridges and watches, you can access the Internet now you can have all your data, all your information, your whole Netflix account instantly sent to you. Now you don't need to take it with you. It'll just be wherever you are, which is what the clouds doing. It's also allowing small businesses or even people have the same amount of processing power as basically Ibn or Microsoft did. Back in 1990. Google and Amazon offer companies the ability to just piggyback on their networks and grow , so that's what Netflix does. So Netflix was essentially able to scale in the way that it did because it piggybacks off of Amazon's architecture. And that's why now you're starting to see a number of different business models, such as the Passion economy, where anyone can set up their own business because they could host it on the cloud. Websites back in 1990 were incredibly difficult. But now any digital strategy that you're gonna need to create is gonna have to take into account at least the last free items everyone's networked. Everything needs to be mobile on. Essentially, it needs to be always on always up very quick loading times. So, as you can see from the date, strategies are evolving quicker and quicker as digital as a notion is evolving quicker and quicker. 6. Digital Strategy - Key Business Models: So let's quickly have a look at some of the digital business models being created in some of the strategies that companies use to make money online. So first off, there's the traditional just e commerce marketplace. Zach Boss, Amazon, Selander, Alibaba. They just sell general physical products and ship them to you. Then there's the Free Freemium model, which is a strategy, a very popular strategy, especially for start ups, where you can have a little bit for free. But then you need to pay if you want the really good stuff. Spotify is one of the best ones that doing this to normal customers. This is a very popular strategy would be to be businesses. So if you sell to a business, Freeman is a popular strategy you're selling to customers. P. It appear two sided Market Place is a popular strategy, so uber Airbnb linked in their strategy is to connect people to other people and then Eva set take a percentage commission off the fair, or if the fee, or to drive some sort of themselves subscription. On top of this, as well as two sided market place, you can also have an on demand marketplace now. Often they cross over on demand and pit beer have a big cross over on. Demand essentially means unlike Amazon or Spotify. The product needs to be available when you want it. So this is a a very old business model. But it's been taken to new, more effective heights in the digital world. So unless the Nuba drivers available, you can't buy that thing. Where a Spotify it's always available for you are not Amazon. It's almost always available. You can buy it, so add supported. This is a huge new business model that has been taken to new heights by people like Google and Facebook and Twitter. Their strategy issue. Just get as many people on their platform as possible, keep them on their platform for as long as possible, and then so add to them so very similar, obviously, to The New York Times and the traditional ad supported model of magazines. But it's still very popular strategy from bigger businesses, subscription based. As we said, this is very similar to the Freemium model. This is used to great effect, is a very old business model, but has been used to great effect by people like Netflix and Salesforce and Adobe. They've been really one of the leaders in subscription based advertising, So one strategy that's very unpopular but very profitable is hidden revenue generation. So this isn't a strategy that you hear a lot of companies talk about because they like to keep it quite hidden. I could have for Amazon in here as well on. Basically, this is where essentially these companies sell your data, too. Other companies that want to target you for ads or they want to do customer research on you so Google and Facebook essentially face. But one way that they make money is if you change your phone, they'll tell the phone providers that you tones your phone because if you leave Android, if you have an apple and you buy a Samsung, neither Apple nor Samsung can know that. But Facebook will, because you'll look back into Facebook or you look back into instagram and it will know that you've changed your phone and it can sell that data Amazon social data to movie companies or book companies in order to target people. So if you bought the Harry Potter books, it can sell that information toe Netflix or to the big movie houses and say, this email address here is interested in Harry Potter. So it is an online strategy. It is one to be aware off. But it is an incredibly unpopular strategy for obvious reasons, because companies are really honest about how they're doing it. The final one is an open source model. This is a it's difficult to describe as a business model. It's a very innovative, basically the opposite of the hidden revenue generation. It's a much more philanthropic strategy where people basically give or let their code or let their digital product to be used by anyone. So get have a red hat are just places where, if you upload your code, let's say you make a little mobile game you uploaded in anyone. You can use that code for free, and they can edit and add to your code. It's brute. It's proving a fairly effective strategy for a lot of companies. Obviously, it's very hard to monetize, but if you want a large user base, one great strategist create open source. So in recent years, Microsoft has started doing open source because it realized it was losing a lot of developers and market share. Google offers a lot of open source, basically its android. There's a lot more open source than Apple, and so this is a strategy that's coming more and more popular. 7. Digital Strategy - Key Characteristics of Digital: Now I'll quickly talk about networks because most of thes business models rely on some sort of network. And so a lot of digital tractors that you're going to see in a lot of strategies that you hear about. He's an aim to create some sort of network on. Essentially, there are five types of networks, and I'll go through them quickly because they'll be useful for you to know there's curation . So one network is you get a lot of people. Your strategy is similar to Wikipedia. You just get a lot of people curating content for you. They do the editing and sorting for you. There's also communication. So the what's that strategy, which is you allow people to talk to each other basically free. You get enough uses, and then you can start to monetize their users. Obviously, whats app is owned by Facebook, so even though you don't know how they're making money, you can probably imagine how they're making money. Another strategy is creating a community which is the Facebook one collaboration. This is kind of a little bit less used. It's a bit like Fiverr or something like that. We allow people to work together, and you just take a cut of it. Or use. Take a cut of helping people find each other, which is similar to the connection, which is like linked in your so basically, one important thing to remember if you're very new and you haven't created truth strategy before, unless you're going to go for basically the traditional e commerce route, you're going to need some sort of network on your digital strategy on your digital platform . If you're going to survive in the digital ecosystem, you're going to need to take advantage of the networks because you're going to need some sort of scale, which is what most strategies are attempting to do there, even attempting to fend off competition from other people scaling into them. Or they're attempting to scale into other markets or competitors, um, competitors. Oceans basically so network is a very important thing to remember when creating a strategy a zay, said one. The key characteristics off the digital ecosystem on digital companies of scale lower barriers to entry Ming's that you can essentially doing a new market very quickly. If you can translate your content, you can open in that country. Frictionless purchases do you think about Netflix? You don't even really know that you're buying a film. Spotify. You don't know that you're buying a song. You're just buying it so people can scale very quickly dynamic. Obviously, this is everyone pretty much knows it. There's constant growth when you constantly have to be reactive to change. As Jeff, these are said customers a divinely discontent every people's expectations, always increasing that technology's always increasing, so you have to be very on your toes. In the digital world, you've got to be efficient. So whilst companies make huge sums of money, they do it because they react very quickly and they're very cost effective. If you are not efficient in the business world, you're going to get left behind or taken over by somebody that can deploy the resources more effectively. This is because almost everything is automated, essentially, if you live as I said, if you live in a very small town, very local town has almost no tourism. There's probably very slow, very low, marginal, very high margin businesses that are just manual. They don't change, they don't have to be that efficient, and they don't need any of these things they're not going to scale within a dynamic, efficient or automated. But if you live in the online world, you're going to have to create a strategy that allows your business to be some form of automated. You can't really have people responding to each website visit. You're going to need them. You're gonna need a computer to automatically update your stock. You're going to need no silos. So your sales have to speak to your marketing, which have to ST your warehousing or content creation will have to be in some going lead by the analytics that you get back from your website. So when you're creating a strategy, you need to keep all of these four things in mind. 8. Digital Strategy - Key Elements of a Digital Strategy: Now let's get to the actual time where we start to create our digital strategy. Now what we're gonna do is look at what it did. Traction should include. Essentially, you should look at the people. This is the people within your organization, the process that you're going to have to create the platform for platforms that you going to need toe create in order to sit within the digital ecosystem. What product or products you're going to sell as I really before. This doesn't need to be physical product IQ of your subscription. It could be a piece of content. What channels? How you're going to reach your potential audience, what the experience is going to be off your potential customers and customers when they get onto your platforms. And once they start interacting with your products on, then obviously the customers themselves. You're gonna need to understand who your main customer is on what it is they want. If you're going to create an effective digital strategy, let's look through these first off the people. Any digital strategy that you're going to create will inevitably depend on the skills of the entire team in the entire company. Any strategy is going to be inseparable from the efforts of your developers. Designers marketing the strategist themselves on the content writers so on. And so essentially, you need to understand how digitally literate of the people in your company how resistant to change versus excited by change are they. If you have a company where nobody has ever done digital before, if it's a very old company that's very stuck in its ways, your strategy is going to have to be very basic. It's gonna have to start very small, and it's going to be maybe something based on training the people. That will be your first strategy. If, of course, you're a very digitally lit or if your company, if you're setting up a new company and everyone's very digitally literate, they've set up websites, social media before they understand how to create and scale and network, they're all excited by change. Their strategy is going to be very much focused on growth. Ambitious growth on how you're going to interrupt disrupt a market with your new entrant. Essentially, process is the basis off any business. Any business, as I said, needs to be automated. It needs to be quick, and you need to define precisely exactly what the humans and machines are going to do. Andi. Importantly, how they're going to integrate with each other under your strategy. So if you think about it, this is not the exact process. But it's a good example off the digital business. So it's a peer to peer renting marketplace that, you know our purpose is we're just gonna call Airbnb on these important. Remember that you have a renter that you have an owner on, that you have essentially your company in the middle. And there's a lot of things that they're going to go on that need to connect the renter on the owner and your company in the middle, and you're gonna need to make sure that process is slick on why this is so important in the digital world is that you can't see a lot of what's happened. They're making a booking requests, making a payment, accessing the booking request. These will happen in the dark tear if your processes a restaurant is very easy to see every step of what's happening very easy to see if customers were unhappy or if things are taking too long or if one cook can prepare a certain meal on the online world, almost everything happens in the dark. You need to have your process incredibly well mapped if you're hope to create good strategy off the back of it. So this one is a lovely depiction off your platform. Obviously, in order to get into the digital ecosystem digital world, you can need to have some sort of platform. Most people, when they think of this, think of a website something like amazon dot com. But obviously it can be act if you are absolutely our huge part of the platform world. Now with the Internet, that's things. It could be a beacon or a simple bit of software. So your platform itself doesn't have to be a Web site. It could be a bit of software. It could be a bit of content. You could sit within somebody else's platform. So you think about influences. Their platform is essentially their profile. Lots of people have created a great platform just based off e mails, so people have a great email newsletter and that's their platform. So obviously additional strategy going to need to encompass what platforms you will have what platforms you won't have on. Why exactly, you're gonna have each black form. One thing to remember, because this is obviously important. That harks back to the people on the processes YSL platforms now always on. Unlike the offline world, there's no way you can close your store. If we were gonna website and it says closed for the day, they'll get very confused. So your strategy needs to remember that it's as well as being in the dark. It's always on, which is why you need such a good strategy to make sure it's flowing continuously. So as we mentioned before, they're different business models. There's different types of products that you may have. I have a few online and offline ones here. Just toe help put you in the frame of mind for how different types of products need different strategies. Essentially, you have very digital products, which air things like APS, digital subscriptions in that purchases online courses. You have very material products that cars, food, your phone, your laptop, the holiday that you go on. These could be rare or every day, but what's important to note is almost all of these have been disrupted by digital in some way, so even food. Most people look up recipes online out. Lots of people ordering food online cause may be the last to be affected by digital. But what you can see is that many people now are starting to research cars online. That's the first part of it I actually want worked for a car brand called Infinity that tried to launch digitally in the UK This was an example of a poor digital strategy because essentially customers were not ready to buy a car online. And in many ways we're still not ready to buy a car online. But that being said, Tesler does cell calls online that's starting to do well. So as well as cars now being connected MAWR more to the Internet. They're probably going to in the future, be sold on the Internet. On the cloud, as we mentioned, is allowing them to be updated over the Internet and probably driven over the Internet in the future. So all of these things in these products were in some ways be impacted by digital on. Your strategy is going to need to evolve and change based on how you think it's going to be impacted over the next six months over next six years and maybe even over the next 10 to 20 years. So the channel there's a lot about this and I won't go too deeply into this because there are a lot of great courses and great information out there about digital marketing strategies and digital marketing channels. But basically, once you have your lovely platform, your lovely products, you're going to need a way of telling consumers about it. And this is just some of the ways you can get your word out there. You can go to black search engine marketing, which is Google s CEO and content. This is how you get found online, how your website will get found online or how your apple get found online. You can look at the social media's to try and get the word out. You can speak to other companies, see if they'll help you get your word out. You can look up online advertising a little bit of offline. If you want to view on the use, are flying to try and send people to your website. Do you think about it now? Even Spotify advertises offline, even though their digital only brand. And then you try and use PR wholesale and direct sales. If you think that something like Amazon, they try and do that struggles a lot with PR, but it still tries to get some positive PR around. Just how good is things like prime on? What you need to do is have some element of your strategy concerned with how you're gonna connect to your products with people. You're gonna figure out which China was best for you, how you're going to attack each channel and how you're going to see the value from each because obviously, in a will of this, you're gonna need a lot of analytics, a lot of feedback to see and assess if you'll experience is a good one. So product market fit. It's going to be something you may or may not hurt have heard off, and this is essentially does your consumer like your product, and this is much harder to get right than people realize. If you think about it, most start ups go out of business very quickly, even things like Snapchat. People were writing it off because they weren't sure it work, the TV examples said. I have mentioned people didn't get people didn't like Afridi TV, even things like Google glasses, Google great company producing glasses that people didn't really like. So know all brands get it right all the time. Amazon, if you remember, recently, tried to launch a phone called the Fire Phone that didn't work on. Basically, you need to have your strategy. We need to understand if your customer has an unserved need and if you can feel that need at the right price on with a great experience, because if people don't like the product, they just won't go for it. Do you think about Amazon the Kindle? They really found an underserved need. They filled it really well. The user experience you X stands for user experience that worked really well for them. But if people don't like the experience of a paying for your phone or your product or your content on be using it, they won't ever come back and you won't be able to have a business. So key feature of your strategy is trying to understand your consumer experience. Now you can't control everything, but you've got to try and make every interaction that you can control as positive as possible. And this is because you the final element released. I believe the final element that we've got in the strategy is your customers. So customers have always talk to each other. It's just that now they can be a bit more quality quantitative with their feedback on. This matters a lot more in this day and age, so we use reviews online. The Little five star reviews that Yelp reviews the Google map reviews are very important. He used to be the one customer who maybe you go somewhere on holiday. You find a bad restaurant. It's probably the end of it. But now that customer can cause a hell of a lot of trouble for you, especially if they have a big online following. And even if they don't, they could give you a few bad reviews. People get picked up on those reviews. It can start to change perceptions. So everything you do, you need to have the customer in mind because they now have more power than ever before. On a key thing to remember about your customers, is there no, all created equal so when people first start creating digital strategies on when people first up thinking about the digital strategies, they often make the mistake of trying to target everywhere. Because digital has such big scale, you could reach everyone. People think you should reach everywhere, but this isn't true. Often this is very normal that most of your customers will be semi profitable. Some will be very profitable and some won't be profitable, so your customers aren't created equal. So what you need to do is understand with your channels and with your products. How are you going to target just the right group of people? So your strategy needs to be around finding the right customers and delivering them a great experience. But what you've got to remember in the digital world, that is very hard. If you get a website or if you have a social media presence, you can't really control, who sees? I mean you could make it private and things like that, but almost anything you do online is a one to many relationship, so it's like a news broadcast. It just goes out to the whole world, and you can't really control who sees it so you need to try and make your processes in your platforms a slick as possible to make many people happy as possible, even if you're only targeting a few. 9. Digital Strategy - How to build a Digital Strategy: Now. Now we're going to have a look at how we build a digital strategy. So first thing is, you have to come up some sort of vision. What you want to achieve, then, as we said you, would it see where you are currently created? North Star? This is essentially a guiding light showing you where you want to get to. Then you do the hard work of defining your strategy. You create some benchmarks yet look around you see what you think is going to be good on. Then you create an implementation plan so you know where you want to go. You have a strategy of how to get there. You know, basically, if you get there in two hours, that will be good. If you get there in two years, that will be bad. You create your plan on, basically, you get going. So a vision and mission, why's it important? Essentially, if you don't know where you want to go, you're never going to get there is basically why you need a clear vision and mission. Now, this is an actual vision and mission statement from one of the biggest brands in the world . It says all vision is to be Earth's most customer centric company to build a place where people can come to find and discover anything they might want to buy online. Now this is fairly symptomatic off. A vision of mission statement is generally a little bit fluffy, little bit vague and just lays out the general idea of what you want your company to be. Another company said, Don't be evil. That was their vision of mission. But I think there mission was helped. The world would find its information, so don't be Evil was famously Google on this one. If you manage to guess it well done. If you didn't, it's Amazon. So Amazon want to be Earth's most customer centric company to build a place where people can come by discovering, you know, I want to buy online the you might think they've achieved it in the very customer centric, despite not having any sort of obvious customer service department, or you might think they're not a customer centric company. But this is what Jeff Jeff bees off uses to keep everyone going the same direction 10. Digital Strategy - Audit: No, What you're going to need to do, as I mentioned at the beginning with your people with platforms and processes is doing audit. So in order, it is essentially just a thorough review of your business. Gotta be detailed and extremely personalized to your organization. Your organization's why the industry is history and its goals. So if we had a look at all the different products that I showed you around those, um, on that two by two matrix is if you're in the food industry is very different. Live you in the car industry to if you're in the meditation app industry. So any order you do any strategy that you're gonna create needs to take in mind your industry how your company's evolved. If it's a new company, you obviously have no history, but you'll have some goals. So how you doing in relationship goals? How you doing lace in your industry deliveries? These were a couple. I'm giving you a very high level overview off the digital world. In the digital strategies, you can deep dive into any of these areas mawr if you want, or you can ask me about it because I have my mother dressed down later. But essentially, you're going to want to come out with some sort of digital maturity assessment. Andi Critical success factors. So, essentially, as I mentioned around people, how digitally letter are they? How good are you at digital? On critical success factors is simply what identify key things within your organization that are going to make the difference between your digital strategy being its success or a failure on. Then, if you're going to be really good, come up with some ways you can measure the success factors, so we'll go through these a bit more in the following slides. You look so once some sort of school card of your performances, I said, Figure out how well you're doing. So a good way to do this is a swapped, which is strengths, weaknesses, opportunities and France. So Stretch sees things your company does well what you think separates you from your competitors like key skills have in your staff intangible assets such as intellectual property or capital. So obviously, Apple has great assets. Andi, great capital behind weaknesses things your company lack since you think your competitors do better areas where you don't have the resources and areas where you don't have a clear goal or clear vision opportunities. Underserved markets for specific products. So often this is, well, uh, a company called I think It was Aldo Orlando essentially took the idea of eBay, created it in Germany and then 90 days later, sold it to eBay for 10 million euros. I'm not so I've got all those stats right. But essentially a large part off digital strategies and digital opportunities is finding a product that works well in one market and just bringing it to another market. Looking at places where you think your competitors, where there's not so many competitors or those emerging need for your products or services . So if you think about how things are moving into the cloud, maybe there's an area there where people might need services or where you think you can get some positive press on media coverage threats, emerging competitors changing regulations, which essentially is one biggest threats to people at Google and Facebook. Negative breast coverage. Obviously, that works and changing consumer attitudes. This could be toward your company's towards your company or just in general. So if you think about Kodak who used to make on a lot. Cameras really didn't see the Franks coming. You know, Blockbuster didn't see the facts coming. There's a huge examples of people that didn't see friends coming. So in your first thing, you won't do creating a digital strategy. You just go through your SWAT, right all these things down on, then you can use that as a basis for the next step. 11. Digital Strategy - Define Strategy: your North star. So if people are shooting at too many targets and they don't know which target shoot out there basically, never gonna hit any. So what you have to do, take your vision, take what you got out of your swap, which is maybe somewhere between the opportunities and the threats that strips in the weakness and come up with some sort of guiding light in black where you want to get here, which is easier said than done, because often you have several different things that you want to do. Some people want to build nap. Some people want ad on the new business model. Some people want to start going after incredible PR, but you have to focus on one area. You can have a couple of different goals in different time frames, so maybe in six months you want to build a website, and then in two years you want to be making 50% of your money off the website. But you need clear single goals to hit. Otherwise you could get lost in the massive or the digital opportunity available. Then you're going to need to get right down to it and define what your actual strategy is. So now you know what you want to achieve and how well you are set up. To achieve it. You need to know what your strengths and weaknesses are. You can begin to define your digital strategy. There are many, many, many stress used to come up with on they should come fairly easy out were swapped Northstar work. But if they don't come first time, then keep reworking. It will go for a couple of ways to do it. Now. The best thing remember, the best thing is just to start a confluence, which is the crossover of your customer needs, marketplace norms and your strips. So if you think people need a better way to find out about what wine they should be drinking, and you know that some customers in your market place need this. But you know that you create better content than everyone else on video. Then that's what your strategy is. Serve this customer need in this profitable way. Using your strip statuettes. Trustee own the video recommendation market for wine. That could be your strategy, and that should come out of your swatter. Northstar. So remember our earlier things that we said about digital transformations. Some of your strategies will be around when you do what you're doing now, but faster than you do on mobile. Can you focus on video? Could you be location independent? So you're great in one market? May be your strategy is to expand into other markets. Maybe you could be cheaper. Maybe be faster. Whatever. You do the try and be bold. So be a bit cautious. Don't be like we want to make 10,000% mawr because we're gonna open a website. But be like we need Teoh really impress our customers with our video content that they can watch wherever they are in the world. Something like that. Little things don't get noticed on the Web. It just goes into the big pitch blackness that is the backwaters of Google and APP stores. There's a 1,000,000 belongs produced every day. There's something like 10,000 New Apt released to the APP store every day. And as you saw in that every hour, there's so much content being created most of its never seen because he just isn't tied to a great strategy or it isn't bold enough, and people don't stick with it, so you need to make sure you're really tight on your opportunities and then really try and deliver on one opportunity will really try and drive away from one. Fret that you see coming. So here are some ideas that you could have for making your for making a strategy. Revamp your website. You can set up a website. You can improve it. You can try and grow your online sales. You can try and get ranked in Google. If that's something that's not happening now, you can try and grow your database. This is essentially where you get more people subscribing to your content, or you could just try and build online connection. Deezer. Quite basic strategies. The more data literate you are visiting, the more your strategies will be deeper arm or intense. You might start trying to optimize your social media. You might start trying to launch the APP into new markets. Essentially, these are good examples. Have some sort of. These are good examples of goals that you can build your strategy off. So these in themselves a kind of goals. But your strategy then could be oh, I want to grow my own nine sales. So we're going to start targeting a new type of consumer, or we're going to open up this new channel in a way that will allow us to get more customers So we don't do any. Social media is going to try social media. We're going to try and grow our database by essentially Graner data. It could be getting new connections. Gonna grow our database by offering giveaways or mawr free content if people start subscribing so you can use these goals to try and then go through your channels in your platforms and your opportunities and strips to try and see where you can hit these girls. So your strategy here is to increase support for seven account team via To Rhonda Braked. One is to be more mobile, and two is to automate things. So if you think about the things I showed you at the top around scale automation, that's how you can start to think about where your strategy should lie. There's some traps to avoid when defining a strategy. The hippo is known that the highest paid person's opinion. So if your goal is to get more people to download a song that you've just created the highest papers opinion might be the boss on. They'll say, Well, this is how we used to do it. So our strategy is going to be offer exclusive rights to these free producers and then you have to try and use a day to show your strengths and opportunities. Say no. A different strategy should be toe have our song and as many platforms as possible. So we're going to increase the number of channels are consumers can find this on. Remember, try and avoid having a single answer in a strategy, so a strategy shouldn't be. We want to make more se was on our website. So therefore, we're going to put more products on because more products will equal more sales. This might be it, but you can be like, well, our strategy years to test, used to understand what customers want on our website and then start testing four different ways of increasing sales over the next six months. And remember, change isn't easy, so whatever strategy you come up, it might not work. You need to set realistic goals for yourself. You could say I'm going to set up a new app on it will be a subscription model, and it's going toe challenge Spotify because I think that Spotify is under serving this market. That's a good sounding strategy that may be based on some research, but it's very difficult to get these things off the ground. So when you set your strategy, try and keep to a relatively short time frame, I'm relatively achievable goals. 12. Digital Strategy - Analytics: Now, as you get more more mature in your digital literacy, what you're going to see is the way you can Benchmark is going to get a lot more easy and a lot more sophisticated. So in the first stage, you're just gonna try and get data. So you're gonna do Google searches, find reports on your market on the type of platform US create or the channel we want to create. Then, as you start to move through your dashboard, you've got a platform up and running. They're starting to reach people who gets a dashboard, which is real time information or just daily information about how many sales you're doing , how your strategy is working. Then once you start spending lots of money on different channels and on different tactics, so you might have a content campaign that you think is gonna work when they distract. Users have the best content. Another strategy might be to open up a new market. Then you can start to attribute your successful failure to each of the little elements of your strategy or or tactics that you're trying to do to hit your goals. Then what you can start doing once you start to get really issue literally, really mature in your efficiency is start to do modeling and scenario planning. This is essentially where you can start to understand what's going to happen before it's happened. So if you think about core vid Andi, any kind of disaster that happens like that, people will model out the impact of where of what's going to happen based on if they take different strategies and deploy their money in different ways. This is scenario so great. Big companies like Amazon and Airbnb and even smaller start ups will try and do scenario planning, which is like If we follow the strategy of headlong expansion like uber Arabian B, is we going to be profitable before we run out of money? Or if we follow the strategy of dominating one market completely and providing the best service? Are we going to the other people, take all the other markets and grow so much that they will take us over? So that's when if and when you become really mature and really literate in this, you can start to plan out different scenarios based on different strategies as you go. So what you want to do is define your goals. Get some analytics on your goals. So analytics is basically the data. It's going to let you understand your goals and manager goals very well by understanding our customers. So this is interviewing customers, seeing what they do on your website, seeing how they interact. Your social media on that allow you to understand the performance even of your campaigns that products you create or the ideas you come up with. So your strategy is all about coming out of ideas on the numbers you get back from. Your ideas is going allow you to understand how well you're doing coming up strategies for how well you're doing. Executing a strategy so it might be a strategy is great, but your staff needs and new learnings and new training. They can't quite execute your strategy. So you're strapped for years to go video. But your staff don't understand video creation very well on video marketing. Then they're going to struggle to execute your strategy. Then, obviously, once you start doing these well, you get more customers, you can uncover problems and you can prioritize projects within your strategies. Really well, So analytics and data on your performance is gonna help you do all of these things 13. Digital Strategy - Implementation Plan: then finally, once you have your strategy based on all this, you need a little plan of attack. Basically, you document your goals, you write it all down. You figure out where your staff are now what training they might need. Toe, um, get you to your goal was based on your strategy. Then you might have to select new vendors and partners say your strategy is going and opening new markets. You need new partners and maybe new vendors in these new markets. Then you have to come ups and new designs to support it, come up on, developed whatever your strategy is, and then you analyze if your strategy has been successful while it's still going on, then you optimize based on the analysis that you've done. And that's essentially a quick implementation plan for how you once you have your marvelous strategy, how you're going to implement it. So, as I said, it's very convoluted. So hopefully you're stressed. You stop some sort of clear need your black. We need to increase sales. We need to reduce costs. Then you do some research. You look at your data, you prioritize an insight. You like the best way that we're going to be able to reduce costs is by moving from customer service on the phone to customer service by FAA cues. So our strategy used to move from phone based customer service, do Web based customer service, and then you can't. Some common sense should like the best way to do this is via an app for the best way to do this. If ira chatbots on, then build it, you get some feedback on it. You. Once you get the feedback, you do a bit of research on stand your product market fit. Then you prioritize your like. This is one key area where it's not working. People don't know how to search Your people don't understand that we have this new offering . You test new ideas. You measure what's working, what's not working. You learn about it, and then you even go back and pivot on. Restart something else or you revise your hypothesis. Or then you just get into this loop of optimizing, so that's essentially what you'll do. You start with a clear need. You research it, come up some ideas, build it, see what's working, what's not working, Then you do some testing. You prioritize. You tweak it a bit, you do your big learnings, and then you even research and keep growing. Or you go back to the beginning and do a little pivot. Maybe come back with a new hypothesis. Maybe didn't understand the need as well as you thought you did. You come out more hypothesis, then you just keep going through this cycle of identifying pain points, trying to resolve them and then growing off the back of it. 14. Digital Strategy - Examples: So let's have a look at some examples. This is just a little breakdown off how companies work on how companies deliver against their digital strategies, so they have key partners. So Angel List is essentially on online list off business angels who were people that invest in companies. So their value proposition is they help startups meet people that willing to invest in start ups. And they look at their key partners. Tech providers, angel lists. They look at their key activities, which is developing, maintain their platform, curate content, their key resources, which is their user base on their key customer relationships, their key channels. And then they will look at their segments, which is customers looking for money leaders looking to investing customers. Then they look at how they create revenue on where they spend their money. So basically, this is a good example, and you could use thes types of boards to understand your company in orders. Greater strategy off of it. So you can see Angel s strategy is clearly to take on offline thing off, finding something to invest in your company, which is often very difficult. Put it online on build a big base of users and people willing to invest on, then make it easy to invest on building trust in it. So Netflix, for example, used to have a very simple business model. Netflix, if you don't know, used to rent DVDs. So it started off by mailing you DVDs, and it would only focus on movie lovers. Then, of course, it switched up its strategy because it realised through data analysis that this method was in trouble because or legal watch was tough. It was difficult to get their discs there and back, so they changed their strategy on Now. Obviously, they've got a very different strategy where they're producing their own content, that owning the customer relationship a lot more closely with their new platforms and channels that they've created to serve their customers. So they changed their strategy to be a digital strategy, which is obviously very good for Netflix when they exploded and they took advantage off the opportunity that was being offered by more powerful phones and more powerful Internet Andi opportunity, available by their data analysis to understand what it was people wanted. But that was a very big shift in that strategy. 15. Digital Strategy - Best Practices: So now we get to the best practices. Essentially, people think they've achieved Nirvana and digital because they're getting some good feedback and they're getting some good growth. But you need to look for the second or even third. Why on what this means is basically why you growing? Why consumers enjoying you If you're online sales are going up. Why is it that some people are buying more items, all because more people are buying one item and then the third ways? Why are more people buying this one item? Why more people buying mawr from your website? Try and deep, very deep into the root causes off what's happening on your digital platforms for you create your, uh, strategy. Also, be specific. So if it's not important, not urgent, don't do it. If it's urgent, not important. Try and move it away from your core strategy. It is urgent and important. Maybe you need to tackle it. Have a strategy where you have your strategy. Tackle it very quickly, and if it's important but not urgent, make sure you don't forget it. Keep it in the strategy, but maybe push it later, later in your road map or later down your implementation plan. Be inclusive when you're coming out of a digital strategy, it can be tempting to just do it all yourself. You have the research, you have a great idea, and then you tell people what's going to happen. But basically, that's a very poor way to do it online, because you need everyone stripped never on pulling together. So you need to get people on board with your digital strategy on. Don't just tell them what you think it should be. Allow them to have feedback because they'll have good ideas and they'll know their skills on the market as well as anyone. Benchmarks Be careful with benchmarks because if things are going well, it can be tempting to just not look at benchmarks. It's a bit like gambling. If you're on a wind, you pretending to try and ignore things that aren't going wrong because you're so sure of your idea. Many people think they have an idea. They built a strategy, so success is almost guaranteed. But pay attention to the benchmarks. If things aren't working, change your strategy. Sometimes it's good to push through, but it's almost certainly good to iterated. Listen to the market and adjust your strategy. You don't have to do a 1 80 but just always listen to the market on a just if you're benchmarks. If you're way off your benchmarks and something telling you is going wrong, so remember what's in it for me. People always want to know what's going on, and any time you come up with a digital strategy, you're going to need to see one of thes things. So in a way, you can't even or the benchmark you can't set benchmarks too easy. But remember, you might go through some of these different types of growth, so everyone's gonna be asking you what's happening when a week and all be millionaires. When their well can open new markets and be the biggest brand. Remember that your strategy might take a wild come to fruition. Nationality might involve big spends, or it might involve shifting to a new platform that's gonna take a while to deliver changes . Do you see things go up and down? The strategy might not deliver anything because it's a long term build project rather than a short term it aeration, so it would take a while and then it was a step change. Or if you get very lucky, and this is essentially what most people are attempting to do when they come out of additional strategies, you get what's known as the hockey stick, where you just start going up and keep going up. And if that's happening, I'd advise you just ride the way. Don't tweak your strategy too much. Just keep an eye out for any friends on the horizon. Keep looking opportunities. Keep looking at frets. Keep looking at what you're industries doing. Keep trying. Teoh tweak and involved new strategies to support your business model. But don't if it's running well, don't start tweaking it every week or every day. Give it time to flow. But keeping on the long term Fretful the frets that you can't take some time out to sea frets. That might be a longer term friend. So you want to continually review because obviously it sounds simple now, but your strategy isn't going to go as cleanly as you thought. You're going to have lots of decisions and decisions to make. Even if you come up with a nice six month plan on paper, you have to continually adapt and review your strategy. You don't write it down and forget about continue review at every couple of weeks to see how you're doing and if any decisions need to be read up. 16. Digital Strategy - Final Thoughts: So here are my final force for you. Make sure they did. You do? Is your helper not your master? Use digital tools, your digital platforms and your digital channels to achieve your range. Don't let them take over. Seen a lot of companies build websites, build social media platforms and then keep writing blog's or keep doing post to a building app because they think they should. And then they get nothing out of them and they go out of business. Or they lose a lot of money because people just don't care. Lots of people I don't really care about new or fancy ideas on. As I mentioned most, website blog's social media platforms and act will collapse about a trace. You have to solve a need in a profitable way or stop doing it and focus on something focus somewhere else. Digital is difficult because it all takes place in the dark, but there is an audience waiting for your efforts, So if you find it was becoming this like stress, this basically waking you up in the morning, you feel you need to keep on the running wheel of making new content or producing new things or doing small tweaks optimization ins. But you're not getting anything back. By all means push fruit, but remember to step back on and former new strategy, their low your to attack the problem in a different way. Now. Also, the key thing is just to get started. So lot of executives think that customer experiences their first priority. But they also think the overcoming in tongue resistance to embedding a digital culture is a really big barrier. So they see ever on those. It's a problem, but you're gonna find a lot of resistance. You basically just need to get started. Start off small. Don't try and change the world in your first week. If your company is resistant to change, start off small so that we can build up quick winds. Set your standard tire because customers standard to incredibly high these days. Do some research returned blog's check your competitors, find the customer and ask them what bothers them. So just find someone, get a little bit of information, get some sort of insight on, then with your high standards, just try and make something happen. Do a start dry and open up a new channel. Try and improve your digital platforms. Maybe give people were organizing. Did training on Just start something today and that's it. Thanks for listening. Here is my email address. If you have any questions or you disagree or do you think I need to be added or drinks? Let me know otherwise I, uh, before 10 for me. Thank you for listening.