It’s extremely common, perhaps the norm, for companies to frame their digital strategy within the context of specific technologies. Digital teams center their efforts on upgrading their CMS, or implementing a CRM, or migrating product data to a PIM. And while technologies such as these are central to most digital initiatives, it’s easy for teams to lose sight of the outcomes they are trying to achieve with their chosen tech. In some cases, outcomes are never clearly defined.
Outcomes will be specific to your business. An 80-year-old manufacturing business in the Fortune 500 will aim for wildly different outcomes than a digital start-up. However, nearly all businesses are interested in lowering costs and increasing revenue.
Lowering Costs
Examples of outcomes where digital solutions can lower cost may include improving employee retention or recruiting, providing options for customer self-service, automating routine marketing tasks, reducing redundancies in your tech stack to save on licensing and subscription fees, or streamlining processes with your supplier and distributor partners.
Increasing Revenue
Examples of outcomes where digital solutions can increase revenue may include generating more qualified leads, increasing conversions through targeted promotions, selling direct or to a new market, increasing average order size, driving more repeat customers or increasing the frequency of repeat purchases.
If your teams are focused on technologies rather than outcomes, flip the conversation. Your technology is central to your digital efforts, but how do the choices you make related to selecting and implementing software support the outcomes that will most benefit your company?
What are the outcomes you’d like to achieve with your digital efforts? We can help.
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