Why Every Tech Firm Needs a Dynamic Digital Strategy
By Senior Account Executive, Randy Walker
The digital landscape is constantly evolving, and for tech firms, staying ahead of the curve is not just a competitive advantage – it’s a necessity. One would be misled to believe that their competitors aren’t already investing heavily in their digital strategy, as Statista states that the global investment in digital transformation is expected to almost double between the years 2022 from $1.8 trillion and 2025 to $2.8 trillion. In its simplest form, a digital strategy is an organisation’s plans for digital transformation and future investments in digital technology. In contrast, a digital marketing strategy is a roadmap for your digital marketing activities.
While seemingly mundane, a poorly planned digital marketing strategy can harm a business’s image. If the proper steps aren’t taken, it can make an organisation seem out of touch, untrustworthy, and ineffective. In this blog, we will explore the importance of digital strategies for tech vendors and outline key reasons why this is crucial for success.
Rapid Technological Advancements
We’ve all heard the term digital transformation repeatedly – organisations have been “transforming” for ages. But, as we’ve witnessed with OpenAI’s ChatGPT and the AI explosion, technology advances rapidly in the tech industry, and unpreparedness can be detrimental.
Not every organisation will have an immediate and safe use for something like Generative AI – we always stress that slow adoption is better than unsafe adoption. Yet, having a dynamic digital strategy in place enables companies to create the necessary plans to harness these new technologies effectively.
Changing Consumer Behavior
The days of having to enter a store or pick up the phone as a customer to purchase a product or resolve a concern are seemingly over, for better or worse. Patience is still a virtue, but technology quickly alters what customers consider reasonable and comprehensive service. In today’s digital world, customers crave personalised interactions tailored to their specific needs. While it may seem excessive, consumers simply expect companies to keep up with modern times.
Organisations with a tailored digital marketing strategy will be better positioned to engage with their target audience. When creating digital strategies, tech firms must segment their target audience into distinct groups based on demographics, behaviours, preferences and other relevant factors. Once segmented, marketers will learn what audiences prefer social media, while others engage more with email, forums or industry-specific platforms.
Once your audiences are segmented and aligned with the proper touchpoints, content creation tailored to each becomes crucial. In today’s digital world, customers use an average of nine touchpoints to engage with companies, meaning the same piece of content may need to be altered or adjusted to remain relevant for each touchpoint. Onsite content should always fit each platform’s format and the audience’s expectations. For example, a tech firm might create informative blog posts for its website, fun and engaging social media posts for Facebook and Twitter, and in-depth technical articles for platforms like LinkedIn. To ensure audiences recognise and trust your brand, it’s crucial to maintain a consistent brand voice, message, and visual identity across touchpoints.
Competitive Landscape
Anyone who has spent time in the tech industry knows its highly competitive and disruptive nature. Rapid technological advancements require companies to continuously update and improve their products and services. Meanwhile low barriers to entry enable startups to enter the market relatively quickly, leading to a proliferation of competitors on a global scale. Not to mention the ongoing talent wars that have made it increasingly difficult to attract and retain top talents including software engineers, data scientists and designers.
To overcome these challenges, a well-crafted B2B digital marketing strategy can provide tech firms with a competitive edge by enhancing visibility, enabling customer engagement, facilitating data-driven decision-making, supporting innovation and optimising marketing efforts. In an industry as dynamic as technology, leveraging digital tools and strategies is often essential for long-term success and competitiveness.
One doesn’t have to look far to see the impacts of successful digital strategies. Consider Tesla as a digital marketing strategy example – the company turned the automotive industry on its head by selling its cars direct-to-consumers online, bypassing traditional dealerships. While on the surface, it seemed an efficient way to cut costs, a deeper dive shows that Tesla took a step closer to its consumers, creating a closer relationship than any other manufacturer. Additionally, Tesla’s over-the-air updates circumvent some consumer’s traditional issues with the automotive industry. Opposed to physically going into a dealership for any required updates, Tesla created a system that allows updates to be applied directly to their customer’s vehicles without going out of their way.
Even when expanding globally, understanding just how competitive this landscape is will be critical to your success. Entering a new target market means scoping out the competitive landscape, finding the right gap and creating digital strategies accordingly.
Data-Driven Decision-Making
One of the most significant developments in the modern corporate world is the shift from isolated and project-focused computer usage to a data-driven enterprise. In this sense, data-driven indicates that all company decisions and procedures are based on data, not gut decisions.
Every business must consider the data or information produced from both internal and external sources. In addition, these data channels function as a pair of eyes for executives, providing them with analytical information about the company and market. Consequently, misunderstanding, inaccuracy or lack of knowledge may lead to a misleading perception of the market position and internal operations, resulting in poor judgments.
Data-driven decision-making rings true for digital strategies as well. With a dynamic, data-driven digital strategy, tech firms can collect and analyse valuable insights that inform vital strategic choices in product development, troubleshooting, high churn rates and beyond.
Global Reach and Expansion
Tech firms have an inherent advantage in global expansion compared to many traditional industries. Digital products or services, like software or cloud-based solutions, can often be instantly accessed from anywhere worldwide without needing physical shipping or localised stores. Add on the scalability of these products, and the picture is painted even more transparent. Despite these advantages, cultural nuances, local competition, regulatory hurdles and geopolitical considerations can still pose significant barriers. A digital marketing strategy that considers these pitfalls is vital for international growth, especially in today’s interconnected digital ecosystem. A dynamic digital strategy facilitates global growth through some of the following considerations.
1. Online presence
• Brand visibility: Establishing a strong online presence through a well-designed website, active social media profiles, and digital advertising campaigns ensures that potential customers across the globe can find and engage with the brand.
• Consistent messaging: A unified online presence allows companies to maintain consistent branding and messaging across different markets, building trust and recognition.
2. E-commerce
• Borderless transactions: E-commerce platforms enable businesses to sell products and services to customers worldwide, breaking down geographical barriers.
• Data analytics: E-commerce systems offer insights into buying patterns, popular products and customer preferences, enabling businesses to tailor their offerings for different markets.
3. Localisation
• Localised user experience: Adapting user interfaces, graphics and design elements to cater to local tastes and behaviours can enhance user engagement and increase conversions.
• Local SEO and marketing: Localised digital marketing campaigns, including PPC (Pay-Per-Click) and SEO strategies tailored for specific regions, ensure that the brand reaches and appeals to its target audience in different countries.
Having a digital strategy that aligns with business objectives is crucial in today’s digital era. An aligned digital strategy ensures that every digital effort and investment directly contributes to overarching business goals. A digital strategy that aligns with business objectives ensures that digital transformations and initiatives are not just tech-savvy endeavours but are core drivers of business success. It brings coherence, clarity, and a structured approach to harnessing the power of digital, ensuring that businesses remain competitive and relevant in the digital age.
Ready to overhaul your business’ digital strategy? Our team is on hand to help determine your objectives, selecting the tactics that will help you to see measurable ROI – get in touch with us today to arrange a discovery call.
