Digital StrategyBuilding the

Foundation for Business Success

Strategy is about defining your future

Com

pany

Customer

What is digital strategy?

Strategy: A working

definition“Being strategic means consistently making the core directional choices that will best move you toward your hoped-for future.” – Erika Anderson, Being Strategic

• According to Ernst & Young, only 25% of American consumers say brands influence their purchase decision

• Just 12 months later, nearly half of those who claimed to be “highly brand loyal” weren’t (NPD)

• 80% of customers check reviews before purchasing (NPD)

“Your margin is my opportunity.” –

Jeff Bezos, CEO, Amazon

Disruption &

Disinter-

mediation

WSJ: “...as many as one-third of the nation's [bank]

branches now may be unprofitable”

© 2015 - Tim Peter & Associates

Strategy Framework

4 “P”s of marketing + 1

Content is, was,

and always shall be

king

Context is Queen• Segment customer

behaviors by context (screen, channel, location)

• Observe, measure, and learn your customer’s pain points in each

• Improve by aligning customer experience with context

Data is the Crown Jewels• Must be willing to start

small – but you must start

• Anticipate, analyze, and adapt to changing customer needs

• Protect the crown jewels: Privacy and security matter; protect guest information like the business depends on it

Customer first drives business value

Start asking the right questions—be a reporter

• Who is contacting us?• What are they contacting us

about?• Why are they contacting us?• When are they contacting

us?• Where are they contacting

us from?• How are they contacting us?

1616

Look to personas to understand who you’re

trying to reach – why they care

17

Driven not by “Big Data.” But your data.

• Know your customer• Competitive

differentiator• Scale when

ready

Know yourself: Play to your strengths

Radical Transparency

Attributes of digital that make this true

• The bad news: “Dis-integration”– Everything

becomes digital– “Software eats

the world” – Marc Andreessen

• The good news: Dynamically assemble value chains

We must be ruthless about differentiation

•What is your company truly better at?

22

Use customer chatter to improve products, services and brand image

Where do you want to go? • Raise your brand’s

profile• Grow membership• Grow use among

members• Improve customer

service• Reduce cost of

customer service• Reduce cost of

customer acquisition

• Improve profitability

What haven’t we talked about yet?

Because channels come last

Seek channels that connect you to customers profitably

• Do they help you gain new customers or new data?• Do they reach a

customer you can’t reach on your own?• Do they provide

access to a higher-value customer?

Working together for the customer

Com

pany

Customer

Digital strategy

Strategy Framework

Questions?Web: timpeter.com

Phone: 201-305-0055

E-mail: tim@timpeter.com

Twitter: twitter.com/tcpeter