If we were to believe the hype, then it would be natural to conclude that the greatest threat to running a successful and sustainable business is… the failure to remain in touch with the leading edge of digital developments.
I would argue that the greatest threat to most businesses is not being out of touch with digital developments it is…. losing sight of the business fundamentals. In other words the needs of your target customers and the fundamentals of your business model (your Marketing Strategy).
I keep coming back to the same questions:
- “Why should people bother to buy from you when they can buy from the competition?” and
- “What makes you different from the rest?”
These questions need to be answered.
To my mind, very few business actually get to the heart of these questions. And without a clear customer value proposition, no end of great digital proposition will win over a slightly jaded and over-stimulated audience.
So, with a clear understanding of what the market needs and wants are then your digital strategy can come into its own… but as part of a bigger picture, as part of the marketing strategy… if it is appropriate.
Don’t get me wrong, I am a huge fan of the power of digital marketing. My businesses are living proof of what digital can do for a business.
But, it just doesn’t matter how cute a digital strategy you have if you haven’t addressed the fundamental needs of your customers.
Failure to remain in touch with the leading edge of digital is not the biggest threat to your business – Tweet This!
Thought for the Day:
- Do you have a Digital Strategy?
- If you have a Digital Strategy, is it part of your over-arching Marketing Strategy?
- In fact, for some, do you even have a Marketing Strategy?
Don’t get me wrong, I believe that digital marketing really can change the fortunes of many businesses.
Researching my new book ‘Grow Your Digital Agency’ I’ve seen all sides of the digital market space – the good, the bad and the ugly! The trick is knowing how to put in place the what and how and when and why into your marketing plan.