There are business consultants and there are Digital Marketing companies. The former focus on business strategy – at a market, organizational or function level – all encampassing people, process and technology. The later bring in their expertise in their digital arena like web, social media and mobile – using tools and tricks to ensure that the digital objectives are met.
However, there is a bridge to cross when it comes to creating a cohesive approach between the two. The factor here is looking at each business in its own merits – bring in the general experience but listen to the business needs with an open mind. We have seen that the issues come around the following:
- Lack of understanding of the digital landscape
- Lack of understanding the business and its actual needs – including its stakeholders like customers, employees and partners and the need to connect
- Driving secondary business needs from primary business goals ( for example, the decision for a consumer product business to go online or retail – and the digital transformation strategy thereof)
- A clear understanding of the target audience
- The classic budget vs result ( ROI ) element of the Digital Transformation plan
- Identification Digital KPIs and mapping them to Business KPIs
- The finer understanding of brand vs revenue goals and priorities
- Understanding the role of each digital asset – web, social media and mobile
- Setting up data acquisition programs and collection of data
- Leveraging of acquired data to derive meaningful, actionable intelligence for the business ( Insights)
All the above apply as challenges for both small businesses and enterprises. As it is clear, the DT consulting is a confluence of Business strategy, Digital Marketing and Information Technology. The right ‘Digital Transformation approach’ will ensure that these three get their due attention and planning – to ensure that the business goals are achieved through digital transformation.
Business Consultants should look at the elements of Information Technology and Digital Marketing as key factors and work with teams to ensure that the maximum results are derived. The same applies to the Digital Marketing or the Information Technology teams. The composite approach is perhaps the right answer to the question – ‘whether Digital Transformation is a key part of Business Strategy’.
Bueno Digital offers the composite approach as it seeks to collaborate with Digital marketers, PR agencies, Enterprises and small businesses to derive the maximum value out of a Digital Transformation exercise.
Author: Ashok Subramanian is an Entrepreneur, Business Strategist and Investor. He shuttles between Bengaluru and New York running his Investment Consulting, Strategic Ventures and Technology business.