Digitalization: Accelerate or Fail?

Digitalization: Accelerate or Fail?

Digitalization: Accelerate or Fail?

Editorial

Editorial

3min

3min

David Mossaz

Deputy CEO of Digital Transformation

Profile of David Mossaz - Deputy CEO, Digital

David Mossaz

Deputy CEO of Digital Transformation

Profile of David Mossaz - Deputy CEO, Digital

David Mossaz

Deputy CEO of Digital Transformation

Profile of David Mossaz - Deputy CEO, Digital

One of the key takeaways from the crisis we're experiencing is that social distancing requires digitalization! Fewer physical contacts mean more digital interactions. For brands, digital isn’t just an opportunity but a necessity in the post-lockdown world.


Digital by Design: The Need for a Native Digital Strategy

Every offer, service, or product designed by a brand or an industry must be initially thought of and created for digital. We're no longer in the phase of "gradually adapting to the shift from physical to digital" but rather in "pivoting all product and service offerings immediately towards usages that are becoming overwhelmingly digital." Forget the notions of "transformation" or "transition"! Time is short. We need to reboot now.

"Speed is the key"

So how do we do it? First, we must distinguish between launch (the introduction of a native digital offer), growth (accelerating an already existing and digital business), and reboot (pivoting an intermediated business to digital). These are three quite different contexts, but the recommended approach is common.

First, let go of the notion of success or failure being linked to the intrinsic quality of a product or service. No, it's not about good products destined for success and bad products doomed to fail. Success is 20% idea and 80% execution. Especially on digital platforms, ultra-targeting implies there isn't a single creative execution of an idea that can find its audience. Instead, there are multiple customized executions tailored to the audience. This is the essence of DCO (Digital Creative Optimization) and programmatic.

Next, put testing and iteration at the heart of the approach. You don’t find the right expression(s) of a product or service’s value proposition in "one shot." It's essential to start with a base and test variations in a branching manner until you find the perfect alignment between an idea, a possible execution, and a receptive target.

Moreover, to quickly create value, a good time-to-market is essential. You need to be able to launch and "sell" a maximum of three months after conducting market-fit tests. Why? Because the audiences you want to target, and for whom the tests show good receptivity are "perishable." What’s true today might not be tomorrow. Furthermore, entering a market digitally isn't too hard, and if you’re not ready to acquire market shares swiftly, your competitors will (especially the pure players who, by definition, know the ropes and move fast).

"Tech is no big deal"

Another idea to debunk: technology is complicated. Ultimately, it's quite simple. To be strong in digital, you need to master the entire funnel: acquisition, conversion, and retention.

  • Acquire qualified traffic comprised of an audience interested in the product or service (pre-tested campaigns highlighting the right arguments that hit the mark)

  • Convince and lead them to materialize their interest on a dedicated and personalized landing space for better conversion (proprietary site, marketplace, social shop...)

  • Remarket the target, meaning entice them to return if they "abandoned" or to purchase again if they've already "consumed"

The marketing technology tools needed to master this chain are now accessible and easily integrable. We are in the world of SaaS and APIs; it's a time-and-money saver. You can integrate a digital business stack quickly and easily by combining tools that enable perfect management.

In summary, you have to move quickly, realize there isn’t a single creative expression of a product's, service's, or offer's value proposition being digitalized, test and iterate to find the ones that perform best with various targets, and assemble a digital business stack allowing management of the entire transformation funnel. Then, just dive in!

Perspective

Perspective

Perspective