How do you adapt your digital strategy to changing landscapes?

1. Ecosystem partnerships and alliance 2. Collaboration with industry leaders 3. Regular strategy reviews 4. Continuous monitoring and analysis of external environment 5. Regular assessment of KPIs 6. Agile planning 7. Flexible infrastructure 8. Data driven insights 9. customer centric approach 10. Flexibility in tech adoption 11. Scalability and modularity 12. Global and local considerations 13. Regulatory compliance 14. Competitor analysis 15. Cross functional collaboration

Back in 2020, during the COVID-19 period, our showrooms across Greece were open, but movement was not allowed. So, those interested in our brand could not see our models up close, and naturally, those who had decided could not proceed with an order. To increase our brand equity and credibility quickly, we realized that we had to create an online ordering model, which would allow those who wanted to buy to do so easily and quickly from their homes. We began the process of assessing the market, identifying our strengths and importantly, the opportunities we had, as the competition had not created something similar. After a few days we were ready to receive orders in a way that strengthened our brand and our relationship with our customers.

Technology changes by the day, which means approach to "digital" in terms of strategy, tools, design, journey, needs to factor this. The analysis and scan needs to include talking to your customers to keep a deep understanding of the core needs and focus. As well as an approach to organisations training of resources in terms of their "mindset", skills etc.

The term 'Digital Strategy' appears to be confined to Digital Marketing, rather than encompassing a comprehensive strategy for integrating digital technologies into a company's operations. Within this broader framework, employing systems thinking techniques proves to be a valuable method for evaluating the current organizational environment.

I believe the title of this article is not completely correct; in many cases it is not about adapting digital to a changing landscap, but changes in digital that lead to a different landscape. It seems to be a marginal difference, however it isn't. Digital strategy is about being ahead of the curve, trying to predict its impact on your sector or organisation. Not trying to follow it after it happened.

For manufacturing, there are some great tools to help analyze goals, gaps and opportunities in a rigorous way. The Smart Industry Readiness Index (SIRI) is a great tool developed by the International Center for Industrial Transformation (INCIT) that takes a detailed look at manufacturing operations, business goals, costs and opportunities. For Biotech manufacturers, BioPhorum's Digital Plant Maturity Model and Assessment Tool is open-source and easily adoptable and I'm sure there are others out there as well. This is a critical step to ensure you know where you are and where you want to go.

Finding gaps and opportunities from the clients perspective for me is one of the best and most efective ways. To do so, I have found that service blueprint as a tool is quite practical and comprehensive. Within a single view you can find gaps in the product itself but also the way the company gets to its customers, the channels they use, and the internal processes that need to be simplified / changed in order to create differential value to customers. Service blueprint also guides you to research how the market / competition is solving those pain point you client has with your product or service.

Review your website and online presence from the perspective of your target audience. Consider factors like website design, user experience, content quality, and mobile responsiveness. Identify areas that need improvement. Revisit your audience segments and buyer personas. Are they still accurate and relevant? Are there new segments you should consider targeting? Analyze the online strategies of your competitors. Identify what they are doing well and areas where you can outperform them. This can reveal opportunities to gain a competitive edge.

Some of the improvement opportunities I have identified, regardless of the sector, include: 1 Optimize customer acquisition costs with strategic funnel refinement in Upper, Middle, and Bottom funnel areas. 2 Accelerate time to market for digital asset innovation, aligning value propositions with the target audience. 3 Strengthen team cohesion, aligning personal goals with company objectives and culture. 4 Boost lead generation through content marketing, gradually reducing reliance on paid digital campaigns. 5 Enhance customer experience, particularly in e-commerce's last-mile delivery. 6 Conduct qualitative and quantitative analysis of potential customer behavior from lead acquisition to purchase, recommendation, and referral.

Once you've identified gaps and opportunities in your digital strategy, prioritize them based on their potential impact and feasibility. Develop an action plan to address these areas, set clear KPIs to measure progress, and continually monitor and adjust your strategy as needed. Digital strategy is an ongoing process of improvement and adaptation to stay competitive and meet your business objectives.

Ensure that your prioritized actions align with your overall business objectives and leverage your strengths. Develop a timeline with milestones to track progress and adjust as needed. Regular communication and collaboration among team members are essential to ensure everyone is on the same page. Regularly review and update your action plans to reflect any changes in your business environment or goals. By systematically planning and prioritizing your actions, you can create a focused and adaptable digital strategy that drives sustained growth and success.

A well-crafted plan should always be flexible enough to accommodate changes. To achieve this, it’s crucial to structure your plans into self-contained segments. This modular approach allows you to easily swap in and out different components as the environment or circumstances change, ensuring that your overall strategy remains on track without major disruptions. By anticipating potential changes and preparing for them, you can maintain agility and responsiveness, which are key to long-term success. This method not only minimizes risks but also empowers your team to adapt quickly and efficiently to any new challenges or opportunities that arise.

Practising effective listening is key to monitoring and adapting digital strategy. Knowing, finding and being in spaces where your audience is allows you get a view to what is newly motivating or stimulating them.

Depending on the business type and industry, it may be helpful to run smaller tests across paid media to determine if the prescribed plan has enough juice behind it once you align all of your resources. For example, this could be by testing messaging on your website, or possibly stand alone campaigns targeting your target Ideal Customer Profile (ICP).

In agile organisations this is done by the products teams as an integral part of their ongoing planning best on "sprint" (bi-weekly) or "Increment" (quarterly) level.

One thing I have found helpful here, which is dependent on your level of risk tolerance is to understand your KPIs and how these play into success. Set realistic goals and do not be afraid to pull back in order to pivot early. Last thing you need is to go 2 months into a Quarter and find your nowhere near your targets/goals.

Most digital strategy plans are a grand one time affair on an annual basis. In reality, you cannot define a digital strategy plan for a year. At best, you can do a budgeting exercise. Keeping a testing and failure budget helps. There are going to be digital products, services and ideas that you will try for the first time and they will fail. These are also the ideas that can bring massive growth because you are first to try it.

It is crucial to implement digital strategies using agile methodologies based on experimentation (Lean StartUp, Scrum, etc.), aiming to achieve quick wins that enable validated learning (from internal or external clients) of our value and growth hypotheses. All this should be done at the lowest possible cost before scaling the solution. Remember that having the agility to pivot when necessary is more important than being fast in deployment. This is particularly common in the deployment of digital strategies in an environment constantly wrapped in VUCA conditions. One essential consideration when overseeing the deployment of digital strategies is to ensure an impact on the growth of the previously defined business indicators

Ensure that everyone involved is aware of their roles and responsibilities and that they have the resources needed to complete their tasks. Regularly review key performance indicators (KPIs) to measure the effectiveness of your actions. Use real-time data to make informed decisions and adjustments as necessary. Foster a culture of continuous improvement by encouraging team members to share insights and suggestions. By actively monitoring and managing your implementation, you can ensure your digital strategy remains effective and aligned with your business objectives.

Conduct thorough post-implementation reviews to gather insights and feedback from your team and stakeholders. Document lessons learned and best practices to inform future strategies. Regularly revisit your goals and metrics to ensure they remain relevant and aligned with your business objectives. Use data-driven insights to refine your tactics and enhance your overall approach. By continuously evaluating and optimizing your actions, you can create a dynamic and effective digital strategy that evolves with changing market conditions and drives sustained success.

Evaluating and optimizing your actions is akin to fine-tuning a musical instrument. It is essential for the success of your digital strategy and is a continuous, ongoing process. Utilize analytics tools to monitor the performance of your digital activities and compare the results with your goals and benchmarks. Don’t hesitate to make changes if something isn’t working. Optimization is about making small, incremental changes that can lead to significant improvements over time. Remember, the digital landscape is always evolving, and so should your strategy. Stay flexible, stay adaptable, and always strive for improvement.

Don't react to change - prepare for it. Here are some ways to tackle this: 1. Proactive Monitoring & Environmental Scanning: Regularly monitoring the digital environment can provide early indicators of upcoming trends, shifts, or disruptions. 2. Embrace a Growth Mindset: Consider failures and unforeseen changes as opportunities for growth. 3. Digital Infrastructure: Ensure that the digital platforms and tools you're using support quick pivots. This might involve choosing modular over monolithic systems or embracing cloud solutions that can scale with demand. Perfection can be the enemy of progress. Instead of waiting for the 'perfect' strategy, it's often more effective to roll out iterative versions, gather data, learn, and refine.

Adapting digital strategy involves continuous monitoring of market trends and consumer behavior. Stay agile by embracing new technologies, emphasizing mobile experiences, and investing in data analytics. Regularly update content and social media strategies to align with evolving audience preferences. Engage with the audience through interactive content, live sessions, and personalized communication. Stay informed about industry shifts, competitor strategies, and emerging platforms. Flexibility, data-driven decision-making, and a customer-centric approach are key to navigating changing digital landscapes effectively.

Establishing genuine human connections with your target audience is more crucial than ever in a world that is becoming more and more driven by AI and automation. Your digital strategy must be authentic and tailored to the changing landscape. Remember to add human touchpoints to your digital experiences rather than concentrating only on technology and automation. Engage with your audience, listen to their feedback, and build trust by delivering valuable content and experiences.

I would strongly encourage to develop contingency plans and crisis management strategies as a part of your digital strategy. The landscape can change rapidly due to unforeseen events like a pandemic, natural disasters, or economic downturns. Understand how each identified risk could affect your digital strategy and overall business. Evaluate the financial, operational, and reputational consequences. This analysis will help you prioritize your preparedness efforts.

Finally, don’t get bogged down by the number of changes and your inability to adopt them all. Because you won’t be able to. An average digital strategy plan should be open and flexible but not perpetually. It’s good to change your plan and adapt it 3-5 times a year. Anything more can lead to a decision flux.

I believe the highest priority in the adaptation process is to get the clearest picture possible of what significant changes are happening to the 'landscapes' of your industry. Achieving your goals that were based on insufficient assumptions would feel like a loss in the long run. E.g. blockbuster invested in optimising their websites for consumers' use but actually missed the most significant change of consumer preferences from dvd/cd renting to online streaming.

I would add that a digital strategy can't work in silos since it is deeply intertwined with the brand's purpose, personality, product/services, and distribution. Thus, it is important to consider interdependencies and incorporate them if appropriate when adapting a digital strategy to the changing landscape.