Create a digital action plan to accelerate youor business and growth of your customers, base, using digital tools and techniques to achieve your goals.
A digital strategy defines an approach to engagement across the digital landscape for your business. Signal Boost can give you a clear roadmap for business success across digital, and empower you with the tools and knowledge to take control of your digital assets.
You’ll note the absence of the word marketing in the term ‘digital strategy’, and this omission is intentional. Although many components of the digital strategy framework are focused on marketing activity, it is also a core tool for your overall business strategy, or digital transformation strategy – whatever it needs to be named.
Regardless of the naming convention, the framework outlined below aims to align your digital strategy objectives with your business objectives – keeping everything focused on the same priority – delivering exceptional service and creating value.
Why have a Digital Strategy
If you are unsure where to start with implementing digital solutions for your business, you may want to make sure you have a strategy to plan, design, manage and monitor your digital business performance and drive growth through enabling technologies. You might have tried creating a digital strategy before, but run into an issue, such as:
- Not having the resources to properly plan or implement the strategy.
- Not getting the traction / results you expected
- Finding it difficult to implement or manage the strategy
With so many digital tools, techniques and channels it can be easy to get “analysis paralysis” trying to work out where to start, or what activity gets priority over another. That’s where a digital strategy framework helps.
Regardless of your business size, industry or unique challenge, the digital strategy framework can help identify pain points, unlock new ways of thinking and business models, and uncover insights into your business that help you to understand your business performance, and empower your team with the skills and knowledge to make an impact online. With the guidance and toolkit I can provide you with this framework, you’ll be able to understand and implement process automation for your digital systems, enabling you and your team to focus more on the customer needs and less time on business administration.
Leverage the resource templates with integration to your business systems to prove the ROI of your digital business, helping you to understand the lifetime value of your customers and explore rich analytics that inform data-driven decision making.
Following through this digital strategy process will help you and your team refine your approach, continuously improve your performance to drive conversions and revenue growth, supported by a program of ongoing training and support.
Digital Strategy Framework
Written over 20 years ago, and yet still current to this day, Paul Smith’s SOSTAC framework serves as an invaluable structured approach to planning, designing and managing your digital transformation journey.
SOSTAC is an acronym for the 6 core elements of the framework:
Initial activities focus on setting benchmarks for your current digital activity, as well as an analysis of the marketplace and your competitors, developing a clear picture of your target customer segments.
Secondary activites are centered around establishing clear goals aligned to your overall business objectives, as well as defining the key performance indicators that help measure your success.
Leveraging the insights gleaned from the early market research activity, at this stage of your digital strategy you’ll start mapping out the online opportunity, setting channel priorities and forecasting budgets for campaigns.
This stage of your digital strategy is where you’ll dive deeper into specific tactics and techniques, developing targeted campaigns personalised for your audience segments that build awareness, foster interest and drive customer acquisition.
In this stage of the strategy there should be a clear plan for customer acquisition, but just like your business it’s never going to be ‘set and forget’. it is important to assign responsibilities – who does what and when?
What defines success for your digital strategy? It is important to measure your performance, reassigning resources or budget where necessary, leveraging opportunities from insights, and mianaging risk.