Strategies to Kickstart Your Business’ Digital Game

In a world where change is the only thing that’s constant, it’s important that your business learn to pivot and adapt. Forget the idea that old-school processes are enough. Most companies are working towards innovation and digitalisation. So should you. According to the 2022-23 Business Characteristics Survey, 46% of all businesses in Australia are innovation active and seeing significant increase in their total income. With this in mind, create a digital strategy if you haven’t started yet. 

What is digital strategy and its difference from digital transformation and innovation?

Think of a digital strategy as a roadmap that outlines what digital goals you want to achieve using specific technology and processes. For example, you want to set up a website in three to four months. Or, you want to increase production to cater to more clients. Based on the goal, you will list down what needs to be done and how. 

In the case of digital innovation, you use new or existing digital technologies to make improvements or develop something new. Think of this as the underrated HDMI cables that have the power to transform how you connect and communicate with partners and clients. Digital transformation, on the other hand, can be considered an overhaul, where you reimagine how to integrate technology into business processes and activities. 

Developing a Digital Strategy for Your Business

Analyse the business impact of digitalisation

Compare your business against similar companies or competition in your industry. Not all areas in your business may need to be digitally advanced. Evaluate thoroughly so you don’t end up wasting energy and resources. Run a digital audit and identify the areas pertinent to your needs and where you can beat the competition.

Run a digital health check 

You may be ready to introduce new technologies to your business, but the skills and knowledge to adapt may be lacking. Consider the existing skill set among employees to determine whether you need to outsource or upskill. You should also assign a leader to oversee the entire process. They need to have a deep understanding of the business and the technologies that will be implemented to achieve your digital goals. 

Clearly outline your business goals 

What do you hope to achieve in improving your company’s digital capability? Do you want to boost operational efficiency, reduce business costs, or automate for better service? List down all your goals and the actions necessary to hit them. To ensure you’re funnelling resources the right way, identify key areas and rank them according to priority.

Develop an action plan

You know what needs to be done, but do you have an idea on how to start, push and see them through? So, you want to venture into e-commerce, for example. Your detailed action plan should list the sales channels, logistics, supply chain needs, and more. 

Going digital is not easy. But you can make it happen with the right strategies. By setting goals, evaluating your digital health check, and developing an action plan, your business can compete and even gain an edge over your competitor. Start by partnering with 4Cabling, Australia’s trusted supplier of digital tools and accessories.