5 Ways Digital Creates Competitive Advantage


5 Ways Digital Creates Competitive Advantage

5 Ways Digital Creates Competitive Advantage

On the 10th of November 2017, @digitalsunindia tweeted “5 ways #digital is creating competitive advantage!” and complemented this strategy with an image produced by @mikequindazzi (that includes a slight spelling mistake, but we'll forgive him). Breaking down going digital into five sections is a great way to create a strategy, whilst monitoring your success. This article will break down the five ways going digital creates a competitive advantage and how you can implement them into your business.

Disruption

Disrupting the status quo of a business model is a great way to stand out, as customers view you as innovative and modern. An organisation can either create a brand-new product/service that doesn’t exist currently; the Google’s self-driving car, Waymo. Or change a process altogether; AirBnB is a great example as there are thousands of applications out there to book a room for the night, but AirBnB has dominated the market as it offers customization, personalization and is available 24/7.

Experience

Today, your Clients and Customers not only want a product/service, but they expect an experience too. Employing digital channels in your business can help create an enhanced user experience, without it being time consuming or costly. A great example is the use of ‘live chats’ on websites as a consumer feels that there is always someone available to assist them, queries are dealt with in a timely manner and, most importantly, the chats are logged so they can be used for analysis and training.

Operations

Digitising processes in an organisation helps a business in many ways as time is saved due to the mundane tasks, like stock taking, becoming automised, thus leading employees to use their time working on more complex matters that mirror their skillsets.

Workforce

Digital agility is so important today and having a team that is adaptable and skilled is vital to stay competitive. If you hire a diverse team, filled with members that have different skillsets, they can collaborate with their colleagues and share, whilst build, their skills. It is also important to create an environment where training and learning is encouraged, otherwise your workforce will be stuck in their current role and will be hesitant to become agile.

Trust

As the world is becoming more and more digital, cyber security is crucial. Existing and potential new clients will judge a business on how safe their documents will be kept, so investing in a strong security strategy will benefit in the long term.

 

Digital First love this break down and will definitely be using these headings in our growth strategy, will you?

Posted by Lucy Richards

Lucy is the Marketing Manager at Digital First, she focuses on social media management, content creation and branding. She previously worked in the investment banking industry for over two years, but decided to pursue her dreams of travel and marketing; and emigrated to Melbourne, Australia. She graduated from the Glasgow Caledonian University in 2014 with a Bachelors degree in Entertainment and Events Management.

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