Digital Strategy: identifying opportunities

Today, the least relevant component of a digital strategy is technology. Of course it is important and it is necessary to invest in it, but in 20 years of constant evolution of the different options in platforms and digital channels, the emergence of social networks and apps among others, has allowed companies to have better opportunities to strengthen their presence on the Internet.

However, this same amount of options has made companies not clear why they want to be on the Internet.

Is it enough to have a fan page on Facebook or Instagram?

Many companies think that by having a Facebook page they have “accomplished the task”. Filling up with followers or “likes” without a clear objective is the next step. Or they develop a web page simply to fulfill a requirement. This is not entirely accurate.

It is a matter of identifying opportunities

Let’s be clear. Not having a digital presence is not a tragedy. We have been using the Internet commercially for more than 20 years. At the end of the 1990s, it was predicted that those companies that did not integrate into the new e-comomy and adopt new technologies would disappear from the market. This has not been the case. Many companies I have visited in recent months have no Internet presence at all, not even in social networks. And nothing has happened to them.

But

Having clear objectives, knowing what you want to be on the Internet for, increases the chances of:

  • Generate revenue: potential customers, sell online, brand positioning.
  • Saving money: higher productivity, more efficient processes in the relationship with customers or avoiding human intermediation where it is not necessary,

It is true that many sectors have been impacted by technology over the past two decades.

Let’s look at a couple of simple examples:

Travel Agencies

Travel agencies saw their revenues impacted when airlines started selling their tickets directly to their customers. Their intermediation disappeared. The airlines saved money and the agencies were forced to rethink their business. But they did not disappear.

Uber vs. cabs

Beyond the discussion of whether the service is legal or not, Uber as a technological platform has changed the way people consume transportation services. It has also given many people the opportunity to generate income through the app. The cab drivers’ guild has been impacted by this worldwide situation and has forced them to rethink the way they provide their service and adapt to the new market demands. Technology shortens distances and facilitates the interaction of those who sell products or services.

I could show thousands of cases in which small or very large companies have taken advantage of technology not only to generate income but also to save money.

And also many cases in which nothing has happened to them because they have not taken advantage of the opportunities generated by technology.

Which of these two groups does your company fall into?

Have you sat down with your team to think about how technology has impacted your business?

Have you thought about what opportunities you could take advantage of through the Internet?

 

Let’s look at a simple example: the withholding tax certificate.

How many suppliers do you currently have?

How do you deliver the withholding tax certificate to them every year?

Do they call, do you generate it and email it to them?

Have you thought about how much the time invested in this process is worth?

 

Opportunity: Publish the certificates on your website and inform your suppliers. They could log in with their NIT and download it easily.

This is a simple example of how technology can favorably impact your business and save money on processes that can be automated.

A Digital Strategy is identifying opportunities by leveraging available technologies.

KNOWBI is #DigitalStrategy