How to apply a digital strategy to your business

In the age of digitalization, adapting to technological changes is essential to stay competitive in the market. Today, it’s important to maintain a healthy online presence and stay up-to-date on the latest digital trends. Digital strategy  has become a key element for business success. But how to apply digital strategy in a company? Here’s a practical guide to help you take the first steps towards digital transformation.

What do we mean by digital strategy?

Before we get into how you can apply a digital strategy to your company, you need to know what exactly this reference refers to. Today it could be considered to be the evolution of what was once known as the overall business strategy. Since we are in the digital environment today, its name has also been adapted.

The digital strategy is the set of actions that are carried out in order to achieve a series of objectives in the digital environment. Technology is used today to improve the performance and productivity of a business, as well as to add value, develop new products and services or improvements to current ones, or even to change the direction a brand takes.

In any case, what this strategist does is define the steps that must be followed in order to develop the full potential of an organization, with tools based on technology that did not exist before. And that, therefore, today allow it to be taken to a completely new position.

This potential may consist of developing new customer segments to target, opening new channels to operate or communicate, or even generating competitive advantages. However, first of all, it is necessary to define the objectives to be pursued and to which particular area of the company it is focused, since the term is global.

What is the importance of digital strategy?

The time to adapt to digital transformation is becoming a thing of the past, given that we are already immersed in it. Technology is what has allowed and continues to allow the goals that are set to become a reality. Therefore, we can say that the digital strategy is what is enabling new growth opportunities for a company. By removing physical or geographical boundaries, a world of possibilities opens up.

But in addition to this feature, digital strategy is accessible. It includes multiple alternatives and ways to achieve the objectives that have been set. Therefore, it not only adapts to any department, but also to the type of company and the budget it has. And as a last particularity, the results achieved are easily measurable through metrics.

Benefits of developing a digital strategy

As we can see, the importance of developing a digital strategy is high, as it is a door to an environment that would not have been possible to explore before. But to be more specific, some of the benefits of carrying out a digitization process following a unique and personalized digital strategy for your company are the following.

Increased online visibility

Developing a digital strategy allows a brand to be more visible in the digital environment. For example, by optimizing its presence on search engines, social media, and other digital channels, a brand becomes more visible and therefore more accessible to those looking for products or services similar to its own. This increased reach on the network can drive more traffic to the website and increase brand awareness and recognition among the target audience.

Improved efficiency and productivity

When  digital tools and automated processes are implemented,  a company’s efficiency and productivity can be greatly increased. Digitizing repetitive tasks and optimizing workflows reduces the workload on employees. This reduction allows them to focus on those activities that are more creative or have a greater impact at a strategic level. On the other hand, the use of digital platforms for collaborative work makes both internal and external communication more efficient.

Increased reach and acquisition of new customers

A well-designed digital strategy extends the reach of a business beyond its borders. That is, you have the option to reach new and targeted audiences through advertising, content marketing, and social media engagement. An active online presence also makes it easier to attract new customers, as it has an impact on positioning and, as we said, increases visibility for people who are looking for similar products and services before buying.

Loyalty of current customers

Continuous interaction through digital platforms strengthens the relationship with customers. This is known as engagement. Through these, updates, exclusive offers, and relevant content can be provided. With these actions, customer loyalty is facilitated, since the emotional connection with the brand is being strengthened. In addition, feedback allows adjustments to be made to products and services as customer needs and expectations change.

Cost reduction

The adoption of digital technologies and process automation also lead to a reduction in operating costs. Digital communication, electronic document management, or the implementation of data analysis tools  make operations more efficient and more cost-effective. And in the case of tools such as online advertising, it is much more affordable, but also effective, than traditional strategies. This translates into a higher return on investment.

Access to real-time information

Real-time data collection and analysis are also essential elements within a digital strategy. For example, up-to-date data on customer behavior, market trends, or campaign performance can be analyzed for valuable insights. With this, informed strategic decisions are made more quickly. Not only are changes facilitated, but they are carried out with greater security, since all actions are based on information of real value and not on assumptions.

Steps to implement a digital strategy

(01) Define your goals and audience

The first step to implementing an effective digital strategy is to define your business goals and audience. What do you want to achieve with the implementation of a digital strategy? Who is your audience and how can you reach them through digital channels? Identifying your goals and audience will help you create a personalized digital strategy and focus your efforts effectively. An effortless effort is a waste of energy. The same effort dedicated to achieving a specific goal is an investment. Whether it is time, money or both.

(02) Create an action plan

Once you’ve defined your goals and audience, it’s time to create an action plan. This plan should include the concrete steps that will be taken to achieve your goals. And it must begin with an analysis of the situation from which the company starts. Some of those concrete steps may include.

• Implementation of project management tools: Online project management tools can help teams work together in a more efficient way, enabling real-time collaboration and task assignment in a clear and organized manner.

• Process automation: Process automation, such as electronic invoicing, inventory management, and customer relationship management(CRM), can help improve efficiency and reduce human error in company processes.
• Digital skills training: As companies adopt new technologies, it’s important to make sure employees have the skills and knowledge needed to use them effectively. Digital skills training can help ensure employees have the skills needed to make the most of new technologies.
• Definition of strategies related to online presence, social networks, SEO positioning, etc.

In general, the digital strategy for internal processes should be designed to improve efficiency, reduce errors, and improve collaboration within the enterprise. On the other hand, the digital strategy facing the outside must focus on the online presence, the perception of the brand, the acquisition and retention of customers.

(03) Optimize your website and social networks

To optimize your website it is necessary to focus on two key aspects: content and user experience. As for the former, it’s important to create high-quality, relevant, search engine optimized (SEO) content. This involves the proper use of keywords in the text, titles and descriptions. As well as the generation of content that is useful and informative for visitors.

As for the user experience, it is essential that navigation on the website and social networks is easy and intuitive, and that it adapts to different devices (responsive design). It is necessary to ensure that the website loads quickly, as users are very impatient and expect a smooth and fast experience.

In addition, it is important to take advantage of the tools and functionalities offered by social networks to improve reach and interaction with followers. These include the use of hashtags, the publication of attractive visual content, the proper management of comments and messages, and the implementation of effective advertising campaigns.

In summary, optimizing a website and social media as part of a digital strategy requires a focus on high-quality content, user experience, and effective use of the tools and functionalities offered by these digital platforms.

(04) Measure and adjust your efforts

Measuring your digital efforts is key to determining the success of your digital strategy. Use data analysis tools to measure your results and adjust your strategy based on the data collected. This will allow you to identify what works and what doesn’t, and make adjustments to improve your digital efforts.

In this sense, KPIs (Key PerformanceIndicators) will be useful. They are metrics that are used to measure the success of a digital strategy. Some examples of KPIs that can be included to monitor your digital strategy are:

• Conversion rate: The proportion of visitors is that they perform a desired action on the company’s website.
• Cost per acquisition (CPA): the average cost that the company has to invest to acquire a new customer.
• Return on investment (ROI): the ratio of the benefits obtained to the cost of the investment.
• Number of followers in social networks: the number of people who follow the company in social networks and who can be potential customers.

Considering all of these elements can be overwhelming. Therefore, if you need a partner to help you design and implement adigital strategy, please contact us.