Digital strategy, digital marketing strategy, and digital transformation strategy are separate things that often overlap with each other. They are often confused for being the same.
An organization’s digital strategy encompasses all of the areas where technology creates opportunities. If you are a retail store, your digital strategy might include digital marketing, your website, self-service checkout, digital communications, data mining, personalized offers, mobile applications, loyalty programs, and more.
The key difference between a digital strategy and a digital transformation strategy is that with a digital transformation strategy, the organization intends to fundamentally change to take advantage of opportunities technology makes possible. A home services company that currently dispatches by phone, tracks all sales with paper tickets, and manages inventory on paper might put together a digital transformation strategy to implement iPads in the field, printers in the vans, realtime digital inventory management, and online tracking systems. Where digital strategy is an evolution in an existing digital/technology strategy, the digital transformation strategy is fundamental to the organization’s existing business processes.
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Here is a short answer: Digital strategy can be created internally or externally (with the help of outside partners). Internally, depending on how big your organization is and how transformative your strategy is, the costs could vary greatly.
1 How do I create, organize, and write a digital strategy?
Nearly every time, good execution outperforms good ideas. For the most effective execution, it's essential to have a strong underlying strategy. Try organizing an offsite multi-day retreat with a facilitator.
Like any strategy, there are more ways to find pitfalls than success. The first step in planning is to clearly articulate the overall strategy in a way that is easy to understand at all levels of the organization.
1 How does digital transformation help blue ocean strategy?
If both blue ocean strategy and digital transformation strategy exist; the blue ocean strategy would be the top level strategy, while digital transformation would be a necessary component of achieving the blue ocean strategy. To fully answer this question, let's first define Blue Ocean Strategy.
Digital strategy is important because there are few sectors technology won’t ultimately touch or transform. If your organization isn’t paying attention to digital strategy, you will fall behind and potentially reach a point where you are obsolete relative to competitors.
One of the interesting things about Digital Transformation is everyone seems to define it a little differently. The reality is that consultants sometimes label a new marketing plan a digital transformation strategy -- it’s not.