“When a customer needs us, they will know right where to find us!”
There was a point in time not so long ago when simply taking your business online was the only way a business had to consider interacting with their consumers in the digital economy. The assumption was that if they built it, customers would come, regardless of the location.
But time moves quickly, and with technology no longer as a barrier to entry for companies looking to lead in the digital landscape, competition is fierce.
Vokal launched a new white paper today, “From Best Practices to Next Practices: Doing Digital Differently in 2020,” outlining how the digital economy is re-writing the rule book companies have been relying on to achieve growth and how, in order to compete, these companies must look ahead to digital next practices to grow products and increase the metrics that matter most.
Within this white paper, business leaders will find action steps, use cases, and recommendations that can be applied immediately to their business as they seek to gain insight into strategic areas for digital growth.
Agile is the Answer
Whether the cost to implement feels disproportionate to the results, a more nimble competitor (or start-up) is achieving better results and eating market share, or they have ideas, but simply do not know where to start. Companies must act as digital athletes and data reveal where the opportunities are and how to experiment with them.
Combined with tools and approaches such as AI, Machine Learning, growth marketing, and rapid prototyping, this leads to smarter digital investments that yield greater results.
The need for organizations to be nimble is more important than ever.
From 18 Month Roadmaps to Experimentation and Rapid Prototyping
It’s important to demonstrate how experimentation can answer questions, evolve, and adapt to new business challenges over time in order to spread a culture that embraces experimentation as a critical piece of moving the needle.
This means not only tracking successes, but combining teams so successes (and failures) are shared across your organization. This better enables your culture of innovation to operate outside of silos, at any given stage of the product lifecycle, to not only uncover inspired opportunities for optimization, but also to do in a more capital efficient way.
The New Rules of Digital Change Everything
The new digital economy revolves around the learning mindset of an organization, and experimenting with new ideas and tracking statistically significant metrics. And while this phenomenon is transforming and redefining industries, many established brands still struggle leveraging their digital investments to achieve growth.
Our aim is to deliver a deeper understanding of the new conditions, the new rules, transitioning from what used to be the best practices into this area of digital next practices, and to show that it’s not too late to gain a better understanding of where they are on their digital growth journey to make adjustments to positively impact your business. This true positive change comes about through many repeated tests, a discerning eye for metrics, and the imagination and gumption to try something new.
We are confident that the takeaways from this paper will contribute to the growth of your business and the increased sophistication of your digital platforms.
A special acknowledgement for the collaboration it took to produce this piece: to Vokal’s leadership for their contribution, and to Reid Lappin who was involved in shaping the insights and recommendations found within.