Digitization of the markets as a major challenge
How can companies adapt to the digital transformation and the change of strategy? Digital Transformation is almost a taboo word. Nevertheless, for many companies and brands, it means a very big challenge. The driving force behind
How can companies adapt to the digital transformation and the change of strategy?
Digital Transformation is almost a taboo word. Nevertheless, for many companies and brands, it means a very big challenge. The driving force behind this transformation is the complexity. Markets are becoming more complex, consumers and customers are changing their behaviour almost every day, and much more influences simultaneously on companies.
The limits of the old and linear way of thinking have been reached. Problems can no longer be processed step by step, especially when it comes to the digital transformation. The new raw material “complexity” overwhelms many organizations and paralyzes their development. This also has an impact on the brand management. A successful operation is becoming increasingly difficult and complex.
“Solving tasks in silos is a thing of the past. Complexity management requires a heuristic approach for progress and growth of the company.”
The demands from the digital transformation and their extremely high complexity challenges companies with regard to their strategical orientation. Many companies ultimately shy away from familiar paths and even often from successful ways in order to get involved in an uncertain digital strategy.
The truth is, companies must actually pursue two strategical options for the transformation, plan and be able to establish a new strategic orientation with extreme agility. Option 1 is the continuation of the current strategy. Option 2 is the strategy for the digital age that, as a general rule, differs significantly from Option 1.
Thus, a third strategy is required with which the paradigm shift is created: the changes from “a” to “b” or from the current strategy to digital and future strategy – the transformation strategy. By all of these considerations, the brand is and remains the central element.
The succeeding model from “Strategy Switcher” helps companies by paradigm change and serves the complexity management. Starting point and basic idea is a brand steering wheel. Through important upgrades with regard to the requirements of the digital transformation, it is used for developing and managing multiple strategies and complex requirements.
The essential elements of the “Strategy Switchers”:
EXTERN / outside/in (right in Fig.):
CEPs (Category Entry Points) & Customer Experience describe essential touch points as well as the behaviour and needs of the customer/consumers dependent on the sales market, sales channels, offline and online.
INTERN / inside/out (left in Fig.):
The terms value creation or customer value proposition (CVP) and employer branding will now be defined. This concerns the internal effects and function of the brand in order to generate added value on the market and at the same time manage employees accordingly or to inspire the right employees for the company.
All three areas will be coordinated and operate interactively. The company receives a so-called “Cockpit” to heuristically manage the strategic change and the related activities. Without losing the direction and purpose.
Companies have two options to use “Strategy Switcher” for themselves or to use it to review their strategy:
1. As a Strategy Fitness Check and to check the current strategy:
In a one day workshop, a strategy scan is used to test the company’s or brand’s fitness for the digital transformation. The result is an individual Gap analysis and check lists with which the company can establish itself for the digital transformation.
2. As a 5 day Power Boot-camp for development of a new or continued strategy for the company and brands:
This intensive workshop can be completed over five consecutive days or within a period of four weeks. In five day, in a team and lead through interactive methods, a new strategy for the digital challenges of the market will be tailored for each company and developed.
For further information or questions: simply send a mail to the Brand-Nomads.