It is said that being “creative without strategy is called art and being creative with strategy is called advertising.” Strategy sets the frame or structure for creative people in a team or company to work within in other to generate and come up with innovatively unique solutions to address the challenges in a team or company.
Strategy throws more light on given problems and challenges in a company so that a clear goal and target can be well defined based on knowledge and information.
In recent times most brands, startups and firms are leveraging strategy in the digital space. Having a mere innovation is just a white elephant if it doesn’t serve any purpose.
That is why every firm and startup needs a digital strategy to create an efficient strong digital presence.
Digital (media) strategy enables individuals, brands, startups and organizations to achieve their marketing goals using digital media.
Digital (media) strategy, according to Wikipedia involves the process of specifying an organization’s vision, goals, opportunities and related activities in order to maximize the business benefits of digital initiatives to the organization.
For a digital strategy to be efficient and successful, it requires a cross-functional team with executive leadership, marketing and an information technology team as members.
The following are some of the reasons why a brand, startup or firm needs a digital strategy:
1. As an organization, having a digital strategy gives your firm a direction of purpose or goal.
It gives the company clear strategic goals for what the company wants to achieve online or in the digital world in terms of gaining and growing new customers or building deeper relationship with existing customers .
When a company does not have digital strategic goals, it will likely not put enough resources to reach the goals hence the company does not evaluate whether they are achieving their goals through Analytics.
2. An organization or startup gets to develop a powerful online value preposition when as a company they invest and allocate resources to digital (media) strategy.
With a digital (media) strategy the company gets to define a strategic online customer value proposition which will enable the company or startup to be able to differentiate their online services .
This strategic move will encourage existing and new customers to get engaged and involved with the organization initially and will continue to stay legal.
3. A company, startup or organization with a good digital strategy will get to know their online customers and audience very well enough.
There is a believe that digital is the “most measurable medium ever.” But with Google Analytics and similar tools there is normally only a focus on volumes and not sentiments.
Make use of other forms of website user feedback tools in your startup or firm’s strategy to identify your weak points and address them.
4. When enough funds or resources and man power or people are given importance, there will be a devotion to both planning and executing online marketing strategy of the startup or company.
With the sufficient resources there will be specific specialist online marketers or e-marketers. Skills which will make it easier and less difficult to respond to the threats of competition efficiently and strategically.
Like it all not, not having a digital (media) strategy does not mean your competition will not. In this competitive era of business, not having a digital strategy is corporate suicide.
5. To catch up and stay relevant and ahead in your industry in the digital world, you have to be agile and flexible as an organization or startup to new trends.
Most of the top online brands such as Dell, Google and Vodafone are on top because they are dynamic. They do this by trailing new technological approaches to gain, maintain and keep their online audience.
To stay on top in the digital environment, optimizing is very essential and important.
It is necessary for every company with a website and digital media presence to have Analytics.
When a company or startup doesn’t ensure that their team or the firm they have outsourced this service to makes or have the time to review, analyze and act on them, their digital media strategy suffers.
But a good digital strategy will enhance the acquisition of the basics and make it to be gotten right, then the company or startup can progress to continuous improvement of the main key aspects such as search marketing, site user experience, email and social media marketing .
6. Using digital media for marketing offers a greater engagement.
With this, a business can encourage their prospects, clients and followers to take action, visit their company’s website, read about their products and services, rate them, buy them and provide feedback which is visible to their company’s market. Hence it doesn’t take long for good publicity to enhance the prospects of the business.
If every company, organization or startup is to develop, execute or outsource their digital (media) strategy. It will go a long way to ensure growth and sustenance of great brands in the digital world, which will in the long run benefit their brand, company or startup as a whole.
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Source Beauty is pushing the boundaries of Egyptian e-commerce
Egyptian e-commerce: the county’s digital drive has not yet gotten to the growth typically seen in European countries and North America. However, as businesses have started shifting online, customers are now following suit, resulting in the gradual development of the digital eco-system.
Innovation, such as digital marketing, is reinventing the consumers’ path to purchase. The Egyptian e-commerce market is expected to grow at a rate of 33% annually to approximately $3bn by 2022, according to Oxford Business Group.
Source Beauty and disruption
The increase in e-commerce comes from rising internet penetration rates, driven by connected and digitally savvy millennials. Several platforms, both locally and internationally, such as the direct-to-consumer beauty platform Source Beauty, have disrupted the beauty industry in the region to drive their growth by truly connecting with their customers.
By being aware of the changing consumer behaviour trends in the e-commerce landscape, service providers like Source Beauty are continually fostering customer engagement with a community they have created. The customer service team, along with the editorial and marketing teams, respond to each comment and direct message, making customers feel listened to.
Lydia Schoonderbeek, the founder and CEO of Source Beauty, said:
“Egypt has traditionally been a price-driven market. After devaluation and high inflation rates, people have become much more price sensitive. People are consuming less and are shifting away from imported products due to price, accessibility and inconsistency in supply. As a result, they’re looking for local alternatives.”
In line with its digital transformation and financial inclusion agenda, the Egyptian government has set in place directives to raise the limit for electronic payments for individuals via mobile phones to EGP30,000 (USD1,905) per day, and EGP100,000 (USD6,350) per month, since March 2020. Traditionally, 70% of online purchases were cash on delivery, which has proven to be a major challenge to e-commerce growth throughout the region. This preference has changed to credit card payments, increasing to 30% from 16% due to the spread of Covid-19, but it remains to be seen whether purchasing behaviors will be affected in the long term.
The CEO of Source Beauty further added that, the company had seen substantial growth thanks to the COVID-19 global pandemic, with existing and new customers wanting to limit in-person beauty services and adhering to social distancing and mask-wearing requirements. Beauty customers, she says were changing spending habits, moving towards products that allow them to recreate the salon experience in their homes and protect them from the potential impact of an increasingly digital lifestyle. Finally, she believes they have seen customers prioritising skincare and haircare purchases over makeup.
The question is, ‘Is anyone in Egypt going to buy beauty products online?’. Who thought people would buy books on the internet from a website called Amazon! Well, the answer seems to be YES. Consumer spending in Egypt on non-essential goods has reached EGP 3.90bn in 2020 and is set to reach 8.81bn in 2021, according to FitchSolution’s 2021 Report.
According to the Egyptian e-commerce beauty company, Source Beauty, it believes that the world is in an era where consumers are looking to associate with brands and not products, to make their beauty purchasing decisions and this is where homegrown brands like theirs will doubtlessly lead to economic growth in Egypt.
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