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Overview[ edit ] The digital strategy is part of the business strategy and experts maintain that it cannot be effective or successful if built independently.
Within each of those stages, a number of techniques and analyses may be employed. Competitor analysis Includes evaluations of a company's main competitors and potential substitutes with the goal of understanding a company's strengths and weaknesses relative to their competitors and potential substitutes.
While this often includes steps found in traditional marketing competitor analysis, such as products, prices, etc. Competitor analysis includes two unique items: An evaluation by an expert of the usability and user experience of a company's online assets compared and contrasted to those of its competitors and potential substitutes.
An evaluation of the features and functionality provided by a company's online assets, compared and contrasted to those of its competitors and potential substitutes.
An analysis of a company's financial data which may include everything from public financial statements to private ERP data with the goal of understanding the financial impact positive and negative that certain changes would have on a company.
The framework helps model the business expectations and challenges to be addressed through the Digital Strategy.
Identifying the unmet needs and goals of external stakeholders consumers of online assets [ edit ] External stakeholder interviews  Includes one-on-one interviews and focus groups with a company's external stakeholders, with a goal of understanding external stakeholders behaviours, needs, goals and perceptions of the company and their industry both in the broadest business context as well as specifically online.
In addition to standard marketing strategy methodologies and questions quantitative and qualitativeexternal stakeholder interviews for Digital Strategy may include usability testingan analysis of how effectively external stakeholders can use the online assets developed by a company for their intended purposes.
In digital strategy this is used to uncover usability barriers that may prevent the online vision being achieved.
Ethnographic research An analysis of external stakeholder behaviors in their environment, for example: In addition to standard ethnographic research, digital strategy research may include video recording of an external stakeholder using their computers or specific computer applications or web sites.
This may include understanding how many people are visiting a web site, what are the most popular pages, what are the most popular paths, where are people coming from, where do they drop off, how long do they stay, etc.
Review of effectiveness of current digital technologies. Funnel analysis A specific methodology for web analytics where the company's online assets are modeled as a sales funnel, with a visit or impression representing a new lead, a certain page or action in the web site considered a conversion such as a user hitting the purchase confirmation page and specific pages in the web site representing specific stages of the sales funnel.
The goal of the analysis is to provide insight into the overall conversion rate as well as the key weak points of the funnel the stages in which the largest percentages of users drop out of the funnel.
In digital strategy this often includes the online customer registration database which companies use to provide access to their customer specific, protected areas. Multichannel analysis An analysis of a customer's behavior such as their purchase or service behavior that looks across all of the different channels, in which customers interact with a company's products or information.
There are lots of different ways to do this; a representative example would be, a company focuses on the customer purchase process how a customer becomes aware of a product, how a customer develops the intent to purchase a product, and how a customer actually purchases the product.
The analysis would look at which channels for example: In digital strategy, surveys may be used to validate or invalidate key questions raised in more qualitative exercises such as external stakeholder interviews and focus groups. Depending on the breadth of the survey population and the degree of variation within the population, survey results may be segmented to form homogeneous groups across one or more dimensions of behavior, demographics, value, product or marketing message affinity, etc.
Surveys are often conducted online using web surveys, e-mail lists, or 3rd party panels, although phone surveys or other offline methods may sometimes be used when there are questions as to the online savviness of a particular target population.
Developing a vision and prioritizing a set of online initiatives[ edit ] Business plan or case A spreadsheet with supporting documentation that quantifies the investments and returns over time, resulting from the execution of the online strategy.
The Business plan also defines the Key Performance Indicators KPIs that will be used to measure and evaluate the success of the online strategy. Technical assessment A design of a technical architecture which will meet the needs of the business vision and conform to the business plan and roadmap.
This is often done as a gap analysis where the current technical architecture is assessed. A future technical architecture, which meets the needs of the online vision, is designed. The gaps between the current state and future state are identified, and a series of initiatives or projects to fill those gaps are developed and sequenced.
Organizational and process assessment Similar to a technical assessment, organizational and process assessments look at the changes that need to be made to an organization and its processes in order to achieve the online vision. They may involve a series of business process reengineering projects focused on the areas of an organization most affected by the online initiatives.
Portfolio management A way of prioritizing various initiatives by comparing their cost of implementation with their expected business benefits.A digital strategy is a form of strategic management and a business answer or response to a digital question, often best addressed as part of an overall business strategy.A digital strategy is often characterized by the application of new technologies to existing business activity and/or a focus on the enablement of new digital capabilities to their business (such as those created by the.
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