Cracking the Code: How do you “Win” at Digital?
Everyone wants to “win” at digital in today's fast-paced digital landscape. But what does that even mean? The idea of winning in this space goes beyond just launching a shiny new app or upgrading your website. It’s about navigating waves of technological change and creating opportunities where others see disruption.
Unlocking New Revenue Streams
Success in digital means much more than just having an online presence. It’s about unlocking new revenue opportunities. For many, growing the top line is the primary goal. Leading companies like Zara are prime examples—by blending digital smarts with in-store innovations, they’ve managed to consistently boost online sales, year after year. That’s what happens when digital strategies go beyond the basics.
Doing More with Less
Digital also has the power to streamline operations and reduce costs. In a world where efficiency rules, being smart with how you use technology is critical. For instance, Volvo’s use of digital twins helps them manage the complexity of customisation without inflating costs. With the right digital tools, they’re scaling their operations without scaling up their expenses.
Standing Out in a Crowded Market
With so many brands competing for attention, differentiation is critical. A smart digital strategy helps companies stand out and carve a unique space in the market. Take Marcus by Goldman Sachs—this digital-first brand shook up the financial sector by delivering something new, all while building on its parent company’s prestigious reputation.
Strengthening Customer Loyalty
Building strong relationships with customers is essential for long-term success. In today’s world, a solid digital strategy can be a game-changer. Starbucks proves this with its digital rewards system, which turns everyday transactions into deeper customer engagement. This system now drives nearly half of its income, showing just how powerful customer loyalty can be when paired with digital innovation.
Thinking Beyond the Ordinary
Winning at digital often means stepping outside of traditional business models. Many companies focus solely on refining their current processes, but the real game-changers are those willing to innovate. Take Hopper, for instance. What started as a travel comparison tool has evolved into a fintech powerhouse, thanks to innovative digital products that have opened up fresh revenue streams.
Staying Agile in a Fast-Changing World
The most significant hallmark of digital winners is their ability to adapt. When the unexpected hits—whether it’s a new technology trend or a global event—those with a solid digital foundation are ready to pivot. Bank of America, for example, quickly adapted its virtual assistant, Erica, to help customers manage loans during the COVID-19 pandemic. That’s the kind of agility that sets winners apart.
Winning at digital isn’t just about keeping up with the latest tech trends. It’s about unlocking new growth opportunities, streamlining operations, and always being ready to adapt when the landscape shifts. It’s a long-term game, and those who play it well thrive.