Tag: #digitalstrategy

Mastering the Deluge of Data

Posted on by annaktaylor
digital strategy and innovation

 

Attentive, attuned, and analytically inspired digital leaders closely monitor sales and cost metrics, qualitative and quantitative stats, and KPIs (Key Performance Indicators). More broadly referred to as ‘data’.

There are known challenges with data collection, preparation, and validation including:

  • Data overload
  • Data stability
  • Assemble and prioritization data
  • Preventing omission of key data points
  • Organization of data to make it usable
  • Taking advantage of data visualization for optimal consumption
  • Gaining insights that can be tested
  • Craft a roadmap for maximum output based on data
  • Pivoting within a plan or shifting an objective due to data outcomes

Prevailing strategies are architected using business intelligence – this is owned data, sourced from customers, sales, performance, operations, marketing, social media, and industry trends.

Types of Data

Structured, Semi-Structured, and Unstructured

Transactional

Hierarchical and Ordered

Text and Meta

Qualitative and Quantitative

The “V” elements of data are variety, volume, value, velocity, veracity, and variability.   When handling data, pay attention to each of these characteristics.

[Step 1]  Utilize a Powerful Digital Dashboard

Creating an impactful plan of action starts with data visualization from charts, pies, tables, and other graphic representations of data.

When selecting a dashboard tool, here is a checklist of key features:

  • User-friendly, high performing interface
  • Intuitive navigation menu and filters
  • Contemporary cards, charts, and forms
  • Wide variety of pre-set templates
  • Multiple layout options
  • Fast-loading import / export feature (multi-file upload is a bonus)
  • Customized views for different types of users
  • Easy widgets to add new tables and elements to a page
  • Tooltips, bookmarks, notifications, and alerts
  • Calendar, email, and to-do list features
  • Data authentication and identification of errors
  • Editing tools
  • Suite of reports with automation capability
  • Color, font, and background controls
  • Interactive with popular platforms and plugins
  • Cross-browser compatible
  • Mobile friendly and fully responsive

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Strategy Insights for 7 Digital Business Models

Posted on by annaktaylor
Interface technology, the future of user experience.

 

B2C, B2B, D2C, Omnichannel, Social Commerce, Marketplaces – each has distinctive selling strategies and opportunities.  Consider which one (or few) aligns with your business model and objectives.

 

B2C

Often, this is a business with several brands or categories with broad demographics for its prospective customers, aiming for sales volume even if profit margins are tight.

Ecommerce Strategy: A heavy emphasis on promotions, incentive selling, and strong market positioning. Creative campaigns that are compelling and impactful are essential to establish a unique selling proposition and a competitive advantage. The drive is to influence motivation and trigger actions. Discounts, on-site sale events, clearance, exclusive coupons, and flash price drops are used to impel transactions. Generating leads is orchestrated with contextual insight, optimized messaging, personalized experiences, and a cadence of interactions that acquire, enable, and engage.

 

B2B

A business selling products and/or services to other commercial businesses – either in a single sector or several different verticals.

Ecommerce Strategy: There is an emphasis on industry authority, building relationships, and tactical selling based on price points, bulk purchases, recurring orders, or a contractual buying schedule. Content marketing and a highly effective communication style are key to B2B digital sales because it’s here where information is king. The business is a partner to the customer with solution-based services and an optimal product mix.  The company must be prominent in its online placement, reviews, directories, and citations. And build an empire of insights, because the customer is continually seeking knowledge and ideas to strengthen their operation and performance.

 

D2C

Businesses that are innovative, expedient, and principled in their selling of one or multiple product lines where need, interest, and enthusiasm are high motivators for an audience that has been segmented into specific buyer personas.

Ecommerce Strategy: Maintain a focus on agility, iterative experiments, and optimal user experiences throughout the buying journey. Whether solving a problem or sparking an interest, use of rich media and social channels are critical to achieving order placement, repeat business, loyalty, and development of ambassadors. As a business designs its strategy, the pillars must start with mobile and site performance – both of these tower above other reigning factors.

 

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