Digital Innovation Strategy

Discuss about the Digital Innovation Strategy.

The organization is a small to medium scale firm that specializes in the selling of the products through an online platform that is its own corporate website. There is a sudden drop in the business especially by the users of the younger age group (18 to 30 years). The aim of the organization is to improve the sales along with the expansion of business to a wider geographical area that will increase the revenue by 20% per annum.

Market Analysis

The current market is completely regulated by the digital means of communication and technology. There have been a number of changes in the technological world in the past few years. As per the latest market research, there are a few components in this field that are here to stay for the next few years and will continue to rule the market like the current scenario.

The first and the foremost is the market share captured by mobile devices and applications will further expand in the upcoming years and is a buzzword in the present era. Personalization feature through responsive web design and other technologies is another prime trend that is an important feature in the current market. Social media marketing is a popular term in the present world of market and the same will grow in future. Along with these, Big Data, remote access, non-stop availability of applications and services are some of the latest buzzwords in the market (Hendrickson, 2016).

Digital Innovation and Trends

Search and e-commerce has gone beyond Google, Facebook and Twitter

E-commerce is not restricted to the search engines and specific corporate websites to allow the exchange of goods. The innovative ideas in the digital world has enabled the users to buy goods from specific applications, interact with the organizations through mails and instant messaging and perform live tracking of their items.

  • Live Video Streaming for digital marketing

This is the growing trend among the Brands in the present era to engage more and more customers by interacting with them through live videos.

It is common for the brands and organizations to promote or even launch their products through the social media platforms such as Facebook, Instagram and Twitter. Companies deploy a dedicated team for social media marketing and associated activities to score well on this parameter (Zovitsky, 2016).

  • Websites and Applications for Mobile Devices

The use of mobile devices such as tablets and smartphones has increased over the past few years. The customers prefer to use the website or an application on a mobile platform as it provides them the ease of accessibility and ensures nonstop availability of the same.

IT is adapting the strategy of build once and deploy anywhere for all the applications. It overcomes the technical limitations associated with the capacity, performance and scale.

Big Data is the buzzword in the current technological world. The same has led to an improvement in the field of business intelligence and data analytics and warehousing. The data is collected from a number of different sources and is analyzed to come up with important information in the form of statistics, reports, records and many more (www.deloittedigital.com, 2016). Data analytics also allows the organizations to understand their preferences, choices and requirements associated with a particular category of products. It also provides the customer behavior towards a particular product type by analyzing the past experience

Cloud computing along with the storage of data on a cloud platform through newer databases such as NoSQL has emerged as the latest trend in the digital world. NoSQL databases allow advanced features to manage the huge chunks of data and are specifically designed to address the requirements of the Big Data. These also support additional features such as analytics and reporting of the data.

These widgets are put up on the websites to maintain the communication with the customers at a nonstop basis and come up with a resolution to any of their query or issue instantly.

Security is one of the major areas of innovation in the digital world. With increase in the security risks and threats, mechanisms to avoid and control the same have been devised to keep the system and the associated information protected at all times.

Value Proposition

Headline

Enhanced sales and revenues for the organization by an increase of at least 20% by the end of next year

The existing website of the organization will be enhanced with the use of the responsive web design. A mobile based application will also be developed to increase the customer base along with the launch of the products on the popular social media platforms (Laja, 2012).

  • Key Benefits
  • Enhanced user experience on the corporate website with easy navigation, rich graphics, feedback options and simple to use ability.
  • Mobile application will allow the users to use the application regardless of the location and thus will aid in the sales.
  • Order and sales management will be easy through the improved portal and the security mechanisms will also be installed to maintain the trust of the user in the services offered by the organization.
  • Visuals

A wireframe of the website is presented for the organization.

organization

Recommendations

The following recommendations are made for the design and development of the website along with the goal of business expansion of the organization.

The expansion must be done in a phased approach rather than installing everything in one iteration. It will allow the resources to implement the changes effectively and will also give time to the customers to get to know about the latest offerings by the organization.

Digital media and social media marketing must be done before the expansion takes place to build the interest of the customer in the same.

The website and the mobile application should include the following features:

Product name, image and description should be placed in such a manner that there is extreme level of clarity in terms of readability and also the same should be visually appealing for the user

The header and the menu section must be kept constant across all the web pages. Too much inconsistency loses the interest of the customer

Product Price must be present for every single product along with a Call to Action button on the web page that must be highlighted in a different color

Ability to add the product to the cart or the wishlist must be provided to the customer along with the ability to avail any special discount or other offer

Social media integration on all the web pages is a must. Signing in to the web site through any of the popular social media accounts must also be allowed to the user (Navarro, 2010)

Product videos along with the live chat widgets must be present on the web site and application to achieve increased customer interest (Kansal, 2016)

Risk free environment must be provided to the users with all the latest security mechanisms applied in the web portal

Conclusion

The organization is going through a rough patch with decrease in the sales and customer engagement. However, as per the market analysis and latest digital innovation and trends, there are a few strategies that can be adapted by the organization to enhance its sales and revenues and also achieve the successful expansion of the business. Use of mobile based computing, data analytics, social media marketing, rich user experience and autonomic platforms are some of the trends that are currently prevailing and will continue to exist for the next few years as well. Improvement in the existing corporate website along with proper planning and marketing in the expansion of the business will allow the organization to score well in the list of the reputed firms in the market and will also achieve a fantastic amount of customer engagement and satisfaction.

References

Hendrickson, K. (2016) Six Market Research Trends For 2016. [online] Greenbookblog.org. Available at: http://www.greenbookblog.org/2015/12/17/six-market-research-trends-for-2016/ [Accessed 20 Aug. 2016].

Kansal, A. (2014) 15 Essential Elements of an Effective eCommerce Product Page. [online] VWO Blog. Available at: https://vwo.com/blog/15-essential-elements-effective-ecommerce-product-page/ [Accessed 20 Aug. 2016].

Laja, P. (2012) How To Create A Useful Value Proposition w/ Examples. [online] ConversionXL. Available at: http://conversionxl.com/value-proposition-examples-how-to-create/ [Accessed 20 Aug. 2016].

Navarro, D. (2010) The 10 Essential Ingredients of Successful Sales Pages – Copyblogger -. [online] Copyblogger. Available at: http://www.copyblogger.com/successful-sales-pages/ [Accessed 20 Aug. 2016].

www.deloittedigital.com, (2016) Tech Trends 2016: Innovating in the Digital Era. [online] Available at: http://www.deloittedigital.com/us/blog/tech-trends-2016-innovating-in-the-digital-era [Accessed 20 Aug. 2016].

Zovitsky, K. (2016) 10 Digital Trends every Digital Marketer should know about in 2016 – Conversion Advantage. [online] Conversion Advantage. Available at: http://conversionadvantage.com/digital-marketing-trends-2016/ [Accessed 20 Aug. 2016].

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