The fast-track digital strategy
Updated: Jun 8, 2020
Internet researcher eConsultancy recently found that 20% of enterprises had increased their spending on digital initiatives in the first half of 2020.
The internet has been the saving grace for many businesses over these past few months during the COVID-19 pandemic. And I predict that the ‘pandemic business model’ will remain in place for many when we come out the other side, if not form the foundation of an online-first approach.
Thanks to social distancing, a lot of the shops that have shut their physical stores are now selling exclusively online. Our postal and delivery services are struggling to keep up with the volume of parcels that we’ve all ordered from the safety of our homes. Bars, cafes and restaurants have changed to offer take-away food and wine.
Gyms and personal trainers are offering group and private classes over video. And healthcare providers are conducting consultations remotely. The list of alternate online business opportunities goes on and on.
Before the pandemic, a lot of businesses had multi-year digital transformation initiatives underway or ready to start. Thanks to COVID-19, organisations have had to reduce those plans down to a strategy that can be executed in days or weeks.
The speed and efficacy with which some businesses have adopted digital operating models is breathtaking, and above all else demonstrates very clearly that ‘going online’ doesn’t have to be difficult. As with every business change, an online strategy must be well considered. But this is also time to be brave: Run some experiments and see what works. It's so easy to test new things online, and that's without using sophisticated tools like feature toggling, A/B or multivariate testing.
The basic principles of marketing have never been more relevant than now: Product, place, price and promotion. The ‘P’ that’s most important here is ‘place’. Businesses absolutely must be operating in the same place as their customers. And right now for most companies, that’s the internet.
So if your organisation isn't already using the internet to connect with your customers, now is the time to do it. It doesn't have to be difficult.
We can help you define your online business model. Contact us to have a chat over a virtual coffee.