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BREMEN, GERMANY / ACCESSWIRE / November 29, 2022 / Without a solid digital strategy, it can be challenging for a business to keep up in today’s competitive market. According to a 2019 survey by CoShedule, marketers that document their strategy are 313% more likely to be successful than those that don’t. However, according to Smart Insights, 45% of organizations don’t have a well-defined digital strategy.
Brainnest, a leading business management and training agency, outlines several reasons every organization needs a solid digital strategy today.
What Is Digital Strategy?
Digital Strategy is essentially a plan that utilizes digital initiatives to achieve a company’s goals. Professionals in various fields may have different understandings of digital strategy. Marketing professionals would view it in terms of web platforms, such as email and social media.
On the other hand, finance professionals may see a digital strategy in terms of online revenue tools, while IT specialists think of the cloud. With these variations, successful digital strategy implementation requires expertise and experience.
Forward-thinking companies like Adobe have implemented various digital strategies to stay ahead of their competitors. In 2013, Adobe switched from physical software to the 100% online Creative Cloud.
This was a highly risky decision at the time, but the brand’s executives knew they had to shift from a business model that was no longer sustainable. Instead of increasing prices annually, Adobe turned to the cloud to help many businesses in digital transformation.
The rewards of the risky decision are evident today, with the company achieving a record annual revenue of $12.87 billion in 2020.
5 Reasons Why Digital Strategy is Important
According to Brainnest, below are the major reasons why businesses need a clearly defined digital strategy:
Focus on Specific Objectives
A digital strategy allows a business to focus on its marketing efforts and clearly outline the strategic steps to be…
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