A digital revolution
As unfortunate as the Covid-pandemic is, it has accelerated digital transformation more than we could've imagined. The pandemic has forced many businesses to completely re-think their strategy to survive.
Business strategy has become synonymous with digital strategy. Without a digital strategy during Covid, you don't have a strategy. The global lockdown forces businesses to go through digital transformation. If you don't offer your services digitally you simply don't exist - how could you if buyers can't leave their homes?
What is a digital strategy?
Our definition of digital strategy supports your business strategy with digital products and services. It gives companies a solid action plan for achieving their business goals by utilizing digital tools, assets, channels, and frameworks.
Digital strategy is a holistic term to glue together vital parts of running a modern business. Digital strategy supports your business strategy - short and long-term.
Digital strategy can be divided into 4 parts:
Digital transformation: An action plan for organizations to transform their products and services so they can be distributed and utilized digitally.
Digital accessibility: How digital products and services are distributed in a digital environment. Describes what tools, methods, and channels are used for distribution.
Digital scalability: How to scale your digital services and infrastructure as your business grows and minimize costs associated with it.
Future-proof digital infrastructure: Describes an action plan for maximizing the ROI on your initial investment in digital transformation.
1. Digital transformation
Digital transformation describes the steps organizations need to take to transform non-digital services and products to digital services and products. Digital transform can also include an action plan to transform non-digital processes into digital processes - to support business goals and KPIs.
To put it simply - it can contain anything where organizations transform a non-digital thing into a digital thing.
2. Digital accessibility
Digital accessibility describes how organizations can distribute their services and products digitally. It contains an action plan for marketing your services online to making sure your website and other web services are accessible all the time.
It supports your business goals by ensuring maximum reach and availability for the products and services that have gone through digital transformation. Without digital accessibility, you might risk losing customers by not having your product or service available in the first place.
If your digital services are not available for whatever reason, your customers will seek out other service providers.
3. Digital scalability
Digital scalability describes an action plan for taking the measures to ensure cost-effective scalability for your digital products, services, and infrastructure. A plan for digital scalability tries to minimize the risk and costs associated with increased stress on your digital infrastructure when your business grows.
A plan for digital scalability helps your organization to take the necessary steps in the digital transformation part for digital strategy. This can have drastic benefits if you've anticipated the possibility of growth.
Having an action plan for scalability will help you to:
Anticipate rapid changes in user volume: If your service or product suddenly becomes more popular than you anticipated, an action plan for digital scalability makes you more resilient to stress on digital infrastructure.
Increase digital accessibility: Your digital services and infrastructure work even when your business grows. A scaling plan minimizes the risk for critical software and service errors that might potentially render your services unavailable.
Minimize costs: Digital scalability will help your organization minimize the costs for scaling associated development and operations. If you've anticipated growth at some point in your business's lifetime, you can respond to the growth by taking necessary actions defined by your plan for digital scaling.
4. Future-proof digital infrastructure
Future-proofing digital infrastructure means maximizing the life span for your digital products, services, and infrastructure. It consists of choosing technologies and frameworks which have a low risk of being unsupported or discontinued in the future.
As an example, a website built on older technology has a shorter lifespan than a website built on the latest technology. This reduces costs in the long run as you decrease the frequency you need to update your web infrastructure to newer technology.
Future-proofing can also mean minimizing the time and actions needed to maintain your digital infrastructure, and will further reduce the costs for maintenance in the long run. On top of this, future-proof technology will directly reflect on digital accessibility and scalability positively as your infrastructure is more reliable.
Conclusion: without a digital strategy you don't have a strategy
Having a digital strategy supports your short and long-term business goals. During and after Covid digital strategy has intertwined with business strategy. Without digital operations or digital strategy, it's impossible to meet your long or short-term business goals.
Many businesses and organizations are forced to re-define their digital strategy as a crucial part of their business strategy. The pandemic has proven that having a digital strategy will make your business more resilient to real-world threats that affect business.