3-MINUTE WEBINAR READ
3 - M I N U T E R E A D : 1 0 D I G I TA L D O ’ S &
DON’TS FOR BUSINESSES
The objective
The solution
The outcome
In an increasingly connected
world, customer attention is in
short supply. How can businesses
use digital technology to engage
their target audience?
Digital platforms provide endless opportunities for
businesses to meaningfully connect with
consumers. Aligning their operations with these
digital do’s and don’ts will enable any company to
leverage digital technology with strong returns.
From small-team start-ups to corporate giants, the effective use of digital
technology has boosted both revenue
and user experience, leading to increased
customer attention and retention.
1. Do think big, but don’t neglect to start small
4. Do have a plan, but don’t forget to act
In the words of IBM CEO Mark Rolfe, “Be bold, but be realistic.” Starting
out with a small vision allows for expansion in a more organic, consumer-led way. The rapid pace of consumption means businesses need to
act fast, and not get lost trying to put together the bigger picture.
Instagram started out with just 13 employees and 17 image filters,
before being acquired by Facebook for an astonishing USD1 billion.
A reactive business will survive in a competitive and saturated market.
Endless hours spent drafting complex strategies in the boardroom are
pointless when considering ever-evolving consumer habits. Growth
depends on how fast businesses react to the customer, not the other
way around.
2. Do gather a great team, but don’t gather a sum of egos
The famed ‘geek’ is responsible for making the digital world relevant
today. These so-called tech nerds are interested in exploring the idea
of businesses digitally connecting with customers, so invest in these
people. Gathering a great team opens up the doors for collaboration,
too, allowing businesses to give back to the community—something that
coders’ forum Stack Overflow and Starbucks have benefited from.
5. Do listen to your customers, but don’t keep them away
from new ideas
User experience can only improve with time, which means businesses
need to become more agile. Social media management tool Hootsuite’s
initial design was met with criticism from users, even though the idea was
a winning one. This feedback paved the way for new ideas, which led to
substantial improvement, and ultimately a better user experience.
6. Do fail, but don’t neglect to understand why
3. Do focus on customers’ needs, but don’t try to fulfill all
their demands
Delivering solutions in a simple way is the key to business success: make
it easy and rewarding, then turn it into the norm. Ridesharing service
Uber, valued at USD18 billion in June 2014, has based its business
model on this principle. Uber understands its customers’ basic needs
(trackable transport and a sense of urgency), but doesn’t necessarily
deliver on their every demand.
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Learning from previous mistakes can help companies to create an adaptive business model. Using digital technology to correct past failures, and
to avoid potential future issues, will not only allow businesses to build and
retain a strong consumer base, but also to exploit opportunities that did
not appear obvious at first sight.