8 Reasons You May Need A Digital Channel Strategy
In todays world where everybody is strategizing the steps they take to fill up their pockets, how can you leave the digital coin unturned for the same? Whether you dont have a strategy or you might just want to review the business issues causing the major problems, we have lined out 8 most common problems, which in our experience, will arise if you dont have a proper digital channel strategy.
1. You wont be able know your market share-
The customer demand for online services may be misjudged if you havent researched this. Perhaps, you won?t be able to understand your online marketplace. The 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 goalsfor 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.
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 dont have powerful online value proposition
A well-definedonline customer value propositionis one which will help you to differentiate your online services encouraging both the existing and new customers (engage initially) to stay loyal.
5. You dont know your online customers well enough
Often its said that digital is the ?most measurable medium till now?. Apart from Google Analytics which tells you volumesof visits and not the sentiment of visitors, what they think, so you need to use other forms ofuser feedback tools (for websites) for identifying your weak points and then addressing 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 parts of the marketing organization 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 optimizing
Every company with a website will have an analytics attached, however many senior managers don?t certify 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, then you can move towards the continuous improvement of the key aspects like email and social media marketing, user experience (website), search marketing, etc.
So that is the list of top 10 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.