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The art of digital strategy for executives

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Information about The art of digital strategy for executives

Published on December 23, 2016

Author: jeanphilippetimsit

Source: slideshare.net

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1. The Art of Digital Strategy Practical & Operational By Jean-Philippe Timsit @jp_timsit for Executives

2. The Art of Digital Strategy for Executives is a practical method especially conceived for executives like yourself to design your own Digital Strategy. Digital technologies are growing so rapidly, and new ones are appearing every day. You will find here all the main concepts you need to develop a performant Digital Strategy, as well as a large number of resources like articles, examples, tips or technical explanations to help you out. Enjoy the trip ! Towards more content: @jp_timsit Jean-Philippe Timsit Digital Strategist What is The Art of Digital Strategy for Executives ? Who is Jean-PhilippeTimsit ? 2The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition I am Pr. of Digital Strategy at Rennes School of Business, France. I am an expert in Strategy and more specifically in the opportunities that Digital technologies offer to businesses to build competitive advantage.

3. Any Questions or Remarks ? Let’s share ! #StratDigi The Art of Digital Strategy for Executives is licensed CC BY-ND 4.0 FR.You can freely download, or share while crediting the author. 3The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

4. Section 1 : Define What is a Digital Strategy ? Section 2 : Plan A 6-stages method to develop your Digital Strategy Section 3 : Build Key success factors for each of the 6 stages Section 4 : Write Documents you need write up for your Digital Strategy Section 5 : Use Tools you need starting today ! Section 6 : Practice The 10 best practices of a successful Digital Strategy 1 2 3 4 5 6 Contents The Art of Digital Strategy for Executives is comprised of 6 sections The Art of Digital Strategy for Executives 4The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

5. Section 1 Define What is The Art of Digital Strategy ? Definitions and key concepts

6. The Art of Digital Strategy is the set of Digital Methods andTechniques used to build Competitive Advantage. Section 1: Define Definition 6The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

7. It seems simple, but how does it look in practice ? Definition 7The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define

8. The Art of Digital Strategy is the set of Digital Methods andTechniques used to build Competitive Advantage. What is Strategy ? 8The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define

9. The aim of the Strategy is to enable executives to identify opportunities and threats to create value in c o m p e t i t i v e a n d d y n a m i c environments. This is referred to as competitive advantage. 9The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define What is Strategy ?

10. The whole strategic process, from design to execution, must be driven by a vision. This vision allows to spell out decisions in a consistent manner. The vision is a projection of your company into the future. Which services do you want to offer, to which customers, under which conditions ? How are you going to position your offer, your company ? 10The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define What is Strategy ?

11. The clearer your vision is, the more people in and outside of your company will be able to help you develop a set of consistent objectives and action plans for reaching them. 11The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define What is Strategy ?

12. 12The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define The Art of Digital Strategy is the set of Digital Methods andTechniques used to build Competitive Advantage. What is ‘Digital’ ?

13. We have been experiencing for several years a digital revolution. It is in fact the third industrial revolution. The first one occurred following the land reform and the enclosure acts in England in 1793. The second one took place with the massive arrival of electricity, the telephone, and television. The current revolution is the transition from an analog to a digital economy. 13The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define What is ‘Digital’ ?

14. This revolution has resulted in three major changes 1 . I n t e r - c o n n e c t i v i t y o f individuals Increased mobility and social networks has led to a proliferation of data. The collection, reconfiguration, and analysis of data -data mining- are at the heart of digital strategy. More in-depth knowledge of the customer’s behavior and decision-making process is now possible thanks to digital technology. 14The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define What is ‘Digital’ ?

15. 2. Search and recommendation Ready access to information has transformed consumer behavior. Today, consumers can go online to compare products and services and see where they can get the best deal. 15The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define What is ‘Digital’ ?

16. Recommendation engines compare a customer's behavior to a large number of other consumers in order to anticipate her/his needs. They can accurately segment the customers using the appropriate algorithms, based on data previously collected. 16The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define What is ‘Digital’ ?

17. 3. Data storage, exploration and exploitation The decrease of electronic component costs and the improvement of database technologies, like NoSQL, have greatly increased storage capacity and data usage possibilities.This has led to the emergence of big data, data visualization, and more sophisticated artificial intelligence. 17The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define What is ‘Digital’ ?

18. Methods andTechniques 18The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define The Art of Digital Strategy is the set of Digital Methods and Techniques used to build Competitive Advantage.

19. Building a Digital Strategy requires a methodological approach and includes 6 stages: 1. Affirming the Strategic Intent; 2. Determining theVision; 3. Developing the Diagnosis; 4. Formulating of the Strategic Decision; 5. Designing the Action Plans; 6. Implementing each action plan. 19The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define Methods andTechniques

20. Building a Digital Strategy also requires the ability in several techniques. There is a large number of tools, over 80.You will find in this paper a method make your choice according your goals. 20The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define Methods andTechniques

21. Definition 21The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define The Art of Digital Strategy is the set of Digital Methods andTechniques used to build Competitive Advantage.

22. Gaining Competitive Advantage is the ability of a company to achieve higher performance than its competitors on the same industry. It is a position on an industry for your product and services based on 3 criteria: 1. Price 2. Characteristics 3. Quantity (and Availability) 22 What is Competitive Advantage ? The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define

23. Price What is the price of your product or service ? How does it compare to competition? How does your price compare to costs ? To target income ? To competitor’s prices? « It costs more here, but I love it ! » 23The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define What is Competitive Advantage ?

24. Product/Service characteristics Are they clear to you and consumers ? How do they compare to what competition is offering ? Do they meet consumers’ need ? «This is exactly what I wanted ! » 24The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define What is Competitive Advantage ?

25. Quantity What’s your distribution network ? Are your products readily available at anytime, everywhere ? Online ? In stores ? Are they readily available or hard to get? Are you perceived as «generous» ? Do consumers really get what they pay for ? « At Gino’s, the pizzas are not better, but they are huge ! I like going to Gino’s with my friends. » 25The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define What is Competitive Advantage ?

26. The two main sources of competitive advantage. 1. Willingness to Pay Create goods and services for which consumers are willing to pay a lot and that competitors cannot easily match (price, product characteristics, distribution, customer experience, ...) 2. Costs / Efficiency Find a way to reduce costs to: - Have a lower price than competitors, OR - Have the same price, but then with a higher margin. These two sources form a continuum. 26The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define What is Competitive Advantage ?

27. This figure represents an industry and shows the two sources of competitive advantage. The red arc is the continuum between them. All points on the arc are competitive advantages, but different in nature. Some are more WTP- oriented, others are more Costs- Oriented. 27The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define What is Competitive Advantage ?

28. Each X is the position of the offer of a company on this industry. The points 1, 2 and 3 correspond to competitive advantages: - 1 competes on quality; - 3 competes on costs; - 2 is an hybrid positioning competing on both 1, 2 and 3 are excellent positions on this industry. 28The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define What is Competitive Advantage ?

29. The other Xs are offerings positions of other companies. They are riskier because less competitive. The purpose of these offers is to reach the red arc. To succeed, there is a large number of possibilities.The company whose offer is the point 4 can improve its quality, and thus increase its prices; lower costs or enter a high-end strategy. It may also try to challenge the position of the company offering the supply 2. But all is of course not possible ! 29The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define What is Competitive Advantage ?

30. 2 crucial points: How to use Digital Strategy to allow 4 reaching points A or B ? How to use Digital Strategy to allow 1, 2 or 3 to consolidate their position ? Your Digital Strategy has to solve these crucial issues ! 30The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define What is Competitive Advantage ?

31. To go further: Competitive Advantage in the Digital Era 31The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define What is Competitive Advantage ?

32. Definition 32The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define The Art of Digital Strategy is the set of Digital Methods andTechniques used to build Competitive Advantage.

33. «Art» you say ? After conducting a technical analysis, you have to make a decision. If we were machines, this decision would be backed 100% by technical analysis, and any tech person in the same situation, with the same data, would make the same decision. But we are emotional beings, and our decisions reflect our background, experience, history, education, identity - everything we are. Why the ‘Art’ of Digital Strategy ? 33The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define

34. The Digital Strategy you decide on is a fragile balance of logic, emotions, and systemic thinking. That is the Art of Digital Strategy. After developing a Digital Strategy, you have to sell it. Be convincing, you’re the leader ! A cost-benefit argument, emotional appeal, and illustrations are all effective in making people get the message. 34The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define Why the ‘Art’ of Digital Strategy ?

35. Digital Strategy is often seen as extremely complex. It doesn’t have to be that way.With a clear definition, and a thorough explanation of key components, you can dispel this myth and make it operational. To go further: Digital Strategy: 7 myths, and 1 curse Take away from section 1 35The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 1: Define

36. Section 2 Plan Which approach to plan your Digital Startegy ? 6 key stages

37. Which approach should you take ? A French famous strategist named Vauban said «Sweat saves Blood», the equivalent of today’s «no pain, no gain». With a very high level of preparation, you will acquire a high level of adaptability and will be able to retaliate to moves by the competition or changes in consumer behavior. 37The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

38. L’Art de la Stratégie Digitale pour les Professionnels par @jp_Timsit, édition 2016 To design your Digital Strategy, follow a methodological path. The design of a Performant Digital Strategy takes place in 6 phases. 38The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

39. Section 2: Plan Let’s open the Pokeball of Digital Strategy ! 39The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

40. 1. Intent 2.Vision 3. Diagnosis4. Decisions 5.Action Plans 6. Execution 6 stages to plan your Digital Strategy ? 40The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 2: Plan

41. 1st stage: the Strategic Intent 1. The «Digital Strategic Intent», or just «Intent», is the first stage of your Digital Strategy building process: the awareness phase. Consider the following: - Where have you succeeded and failed in the past ? - How could a Digital Strategy help your company acquire Competitive Advantage ? - Should you question your Business Model ? 41The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition 1. Intent Section 2: Plan

42. 2.Vision 2nd stage: the StrategicVision 2. The Strategic Vision is the projection of your business in the future. What is your business model and how do you see it evolving in the next 2-3 years ? Vision helps you clarify decisions that have to be made. The clearer the vision, the easier it will be for you to set relevant objectives. 42The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 2: Plan

43. 3rd stage: the Strategic Diagnosis 3. The Diagnosis will help you to: A. Identify threats to your business; B. Identify opportunities that may lead you to transform your business. Diagnosis is a thorough analysis of what you are and what you do, your competitive strengths and weaknesses, and industry dynamics. 43The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition 3. Diagnosis Section 2: Plan

44. 4th stage: Make the right Decisions 4. Now is the time to make decisions that will help you carry out your vision, in light of the constraints and opportunities you have just identified in the diagnosis stage. You will identify and make not just one decision, but several. each one corresponds to a goal. 44The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition 4. Decisions Section 2: Plan

45. 5th stage: Develop Action Plans 5. Your actions plans are the means to reach your goals. Each action plan should be operational in nature and involve different functional areas: marketing, supply chain, finance, IT, sales, ... For each action plan, clear KPIs should b e d e t e r m i n e d t o m e a s u r e performance. 45The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition 5.Action Plans Section 2: Plan

46. 6th stage: Implement your Action Plans 6. Execution is the implementation phase of each action plan. Results should be measured with respect to the KPIs determined in stage 5. 46The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition 6. Execution Section 2: Plan

47. The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition 47 1. Intent 2.Vision 3. Diagnosis4. Decisions 5.Action Plans 6. Execution Section 2: Plan Take away from section 2

48. The goal of section 2 was to present the 6 stages in designing a Digital Strategy. Let’s go no into the details of each stage ! Take away from section 2 48The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 2: Plan

49. Section 3 Build Practical methods and tips for each stage The 6 stages in building your Digital Strategy

50. -The number of Internet users in the world progressed from 361 million to 3 billion between 2000 and 2014. - In Europe and USA, 75% of the population is connected 30 hours per month. - In 2016, connected people are spending 4.1 hours online daily and an additional 1.1 hour on a mobile device. What are people doing on the Internet ? 3 main activities: - Surfing on their social networks: 30% of their time; - Shopping; - Watching videos Your customers are massively online. The question is not whether you need to be present on the Web, but when and how ! Section 3: Build Practical steps to building your Digital Strategy 50The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

51. Building your Digital Strategy is done in 6 steps. Key success factors for each step. 51The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 3: Build Practical steps to building your Digital Strategy

52. Les 6 Stages 52The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition 1. Intent 2.Vision 3. Diagnosis4. Decisions 5.Action Plans 6. Execution 6 stages to building your Digital Strategy

53. 1. Intent 2.Vision 3. Diagnostic4. Décisions 5. Plans d’action 6. Exécution Stage 1 Affirming the Strategic Intent 53The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

54. The «Digital Strategy Intent», of simply «Intent», is the groundwork of you Digital Strategy. You have to ask seven questions. To illustrate the process, imagine that you own a bakery, and you are wondering if going digital is a good idea. 54The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Affirming the Strategic Intent Stage 1

55. Here is your bakery, a French one at that ! What are the 7 questions ? 55The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

56. L’Art de la Stratégie Digitale pour les Professionnels par @jp_Timsit, édition 2016 Question 1: What do you want to accomplish ? - Continue as before ? - Will going digital help you in term of performance ? - What’s going to cause you to think about this ? Your job is to make and sell bread and pastry. You realize that consumer behavior has changed, and that people make a lot of purchasing decisions on the net. How could you sell your products differently ? 56The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

57. L’Art de la Stratégie Digitale pour les Professionnels par @jp_Timsit, édition 2016 Question 2 : Why bother thinking about a new strategy ? - Is competition increasing? - Is your reputation weak ? Do people not know about your bakery, your specialities, your brand ? - Do you see unexploited mar ket opportunities ? - Are your assets under-employed ? - How could going digital help you ? 57The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

58. L’Art de la Stratégie Digitale pour les Professionnels par @jp_Timsit, édition 2016 Question 3 : How will you proceed ? - Create a website ? - A Facebook page ? - ATwitter feed ? - Put photos on Pinterest ? You read a lot of different things, but hey, you’re a baker !Your time and resources are limited. Should you proceed by yourself or seek the outside advice of an expert ? 58The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

59. L’Art de la Stratégie Digitale pour les Professionnels par @jp_Timsit, édition 2016 Question 4 : With whom ? A Digital Strategy ? OK, but with whom ? Do you need a consultant to help you out ? Or do you need a team ? If so, which skills and experience do you need ? 59The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

60. L’Art de la Stratégie Digitale pour les Professionnels par @jp_Timsit, édition 2016 Question 5 : With what ? What resources do you have ? - Physical: machines, equipment, ... - Human: employee/staff skills, ... - Financial: assets, financing, cash flows, ... - Technology & Knowledge: recipes, patents, software, past investments, ... 60The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

61. L’Art de la Stratégie Digitale pour les Professionnels par @jp_Timsit, édition 2016 Question 6 : When ? - When do you want to do this ? - What’s your time frame ? 6 months, 2 years, ...? - What time do you have ? Do you have the time ? - Are you in a hurry ? - Are you being pushed by the competition ? 61The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

62. L’Art de la Stratégie Digitale pour les Professionnels par @jp_Timsit, édition 2016 Question 7 : Where ? - Do you want to increase in-store sales or develop online sales ? Or both ? - Where do you start ? - What are your markets ? If abroad, which countries ? - If you expand your market, what about production logistics ? Who will you send your production to ? - Which customer segment(s) will you target in these places ? 62The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

63. L’Art de la Stratégie Digitale pour les Professionnels par @jp_Timsit, édition 2016 Summary To formulate you Digital Strategic Intent, you need to ask yourself 7 questions: 1.What do I want to accomplish ? 2.Why ? 3. How ? 4.With whom ? 5.What ? 6.When ? 7.Where ? 63The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

64. 1. Intention 2. Vision 3. Diagnostic4. Décisions 5. Plans d’action 6. Exécution Determining theVision Stage 2 64The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

65. YourVision, simply stated, is the projection of your business in the future. You run a bakery. You have chosen to sell some products and not others, to target specific consumer segments.You are an expert in chocolate eclairs, and other specialized bread and pastries. You position your offer in the industry. You have a Business Model ! And here is how to make it successful: 7 Keys to a Strong Business Model 65The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Determining theVision Stage 2

66. YourVision projects your company and business model into the future. You want to transform your current business model into something else. Your business model defines the manner by which the business enterprise: - Responds to and delivers value to customers; - Entices customers to pay for value; - and converts those payments to profit. (Teece, 2010) 66The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Determining theVision Stage 2

67. At the heart of your Vision: Your AUDIENCE 67The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Determining theVision Stage 2

68. You can project your business into the future in many different ways. Here are three examples for you, a bakery owner. 68The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Determining theVision Stage 2

69. L’Art de la Stratégie Digitale pour les Professionnels par @jp_Timsit, édition 2016 To increase your sales, you could buy another bakery. This is a Corporate Strategy. You could use the Internet to promote your brand and communicate with customers. this includes: - Using Google or Bing local directories to attract more customers; - Advertising on Facebook targeting two populations: people in the neighborhood and others interested in trying your specialities; - Posting pictures on Instagram or Pinterest. 69The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

70. L’Art de la Stratégie Digitale pour les Professionnels par @jp_Timsit, édition 2016 You could develop a new business activity For example, add a sitting area where customers can enjoy a coffee or tea with their pastry. It will allow you to branch out to a new activity in addition to your current one. That’s Business Strategy You can digital means to communicate it: - Describe the change on your local directory (Google and/ or Bing) - Share it on Facebook; - Show the coffee shop atmosphere on Pinterest 70The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

71. L’Art de la Stratégie Digitale pour les Professionnels par @jp_Timsit, édition 2016 You could also expand your range of bread and pastry. That’s operational Strategy. You keep doing what you were already known for, but with a wider range of products. You can use Pinterest or Instagram to communicate on your new specialties, and Youtube to present your home recipes. 71The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

72. «So everything is done with Facebook ? Is using Facebook a Digital Strategy ?» Not necessarily. For now, I’m suggesting social media that everyone knows. In section 5, I will discuss a set of must-have tools. 72The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Determining theVision Stage 2

73. As we have seen, the tools you choose to implement a Digital Strategy have to be in line with your vision and goals. There are a large number of tools, with new ones coming out every day. It is better to develop expertise with a few tools and use them to fit your needs. At the same time, be on the look out for new tools and methods which might be more effective than the ones you are using. More on this section 5 ! 73The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Determining theVision Stage 2

74. 1. Intention 2.Vision 3. Diagnosis4. Décisions 5. Plans d’action 6. Exécution Developing the Diagnosis Stage 3 74The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

75. The diagnosis is an in-depth analysis, both internal and external. The objective is to help you to identify potential: 1.Threats to your business; and 2. Opportunities to help you transform your business. There are a large number of tools you can use to accomplish the above objectives. The key thing is to differentiate the internal from the external analysis and to be able to use them effectively. To go further: Find the Key Data for a Strong Strategy 75The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Developing the Diagnosis Stage 3

76. To make the diagnosis phase successful, you have to confront the external analysis with the internal analysis. The external analysis is the industry analysis.You have to: 1. List all the companies in your industry; 2. Determine the Business Model of each; 3. Determine the amount of total value generated by the industry in order to deduce the market shares of each company. 76The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Developing the Diagnosis Stage 3

77. The internal analysis has to do with what your company is, its strengths and weaknesses, its uniqueness. What is your company’s business ? Its specificity ? What are your physical, financial, human, and technological resources ? Are these used efficiently ? Which experiences and specific emotions do your products or service generate in customers ? 77The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Developing the Diagnosis Stage 3

78. The most commonly used tools and techniques used to analyze the company’s internal and external environment are: - SWOT analysis; - Mapping; - Porter’s 5 forces model; - PEST analysis; -Value chain analysis. However, these tools can be complex to use. Because of their sophistication, users often lose sight of the key point:VISION ! To go further: Choose the good tool for a Performant Strategy 78The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Developing the Diagnosis Stage 3

79. It is therefore vital for the company to find a balance between: 1. Highly sophisticated techniques and tools that allow an in-depth analysis and provide the information needed to make an enlightened decision; and 2. Tools that simplify information to the point that it becomes meaningless and does not allow an enlightened decision. You must keep in mind what the information really means ! 79The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Developing the Diagnosis Stage 3

80. As part of your diagnosis, you will use a several tools. These tools should allow you to determine with precision two key things: 1. Which factors have the most impact on your business now; and 2. Which factors will have the most impact on your business in the future as consequences of industry dynamics. 80The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Developing the Diagnosis Stage 3

81. Keep in mind that a tool is not a checklist. The goal is not to tick boxes or make a diagram. The goal is not just to study consumers, competitors, and suppliers, and develop strategies for dealing with them. A tool is a technique to formalize, in a specific and unambiguous manner, threats and opportunities and make ensuing decisions which involve the entire company. With a tool, you can act strategically. 81The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Developing the Diagnosis Stage 3

82. I suggest that you get started by: 1- Doing an Industry Attractiveness Analysis using the HHI (Herfindahl- Hirschmann Index) ; 2- Understanding the various Business Models in your industry: rank the companies in your industry based on their product/service offering, and segment competitors according to their business models. 3- Doing a competitors web analysis using Google trends and Alexa. This will help you segment your market, become familiar with the different players, and understand how they interact. To go further:A Smart Segmentation for a High Performance 82The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Developing the Diagnosis Stage 3

83. Ar the end of your diagnosis, you should have all the information you need to decide how you can develop your competitive advantage. 83The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Developing the Diagnosis Stage 3

84. 1. Intention 2.Vision 3. Diagnostic4. Decisions 5. Plans d’action 6. Exécution Formulating your Strategic Decisions Stage 4 84The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

85. You will make decisions based on your diagnosis. Remember that your goal is to see your vision come true ! Every decision must be seen as a step bringing you closer to achievement of your vision. 85The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Formulating your Strategic Decisions Stage 4

86. Each decision should be formulated in one simple sentence. «Give legs» to your decisions with a specific action plan for each one. If your vision requires 3 decisions, you need to developp 3 action plans. But which decision ? Aggressive ? Consensual ? To go further:Which Strategy Gladiator are you ? 86The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Formulating your Strategic Decisions Stage 4

87. A few tips 1. Each decision should be expressed in a simple and short sentence; 2. Read it to someone who knows nothing about the subject. If this person understands what you mean, you’re ready; 3. It must be written at the active voice; 4. Make decisions operational with KPIs (Key Performance Indicators); 5. Link them specifically to the vision. Examples of decisions : - Increase sales by 15% over the next 3 years. - Increase by 30 the number of unique visitors per hour on our website. - Reduce by 50% the amount of shopping cart abandonment on our website. 87The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Formulating your Strategic Decisions Stage 4

88. 1. Intention 2.Vision 3. Diagnostic4. Décisions 5. Action Plans 6. Exécution Designing the Action Plans Stage 5 88The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

89. Once decision have been made, you must build an action plan for each of them. The aim of the action plan is to establish a series of consistent actions to ensure that the decision is being implemented. Action plans bring together marketing activities, financial considerations, R & D issues, and supply chain activities.Action plans require both creativity and organization. And keep in mind that your action plans should be designed in the light of KPIs that should be monitored to determined effectiveness. Here are some examples: - Financial ratios like ROA, ROA, ROI, EBITDA, EBIT, ... - Web metrics: Bounce rate, unique visitors, percentage of shopping cart abandonment, ROI, ... Everything is detailed Section 4 in the summary sheets. 89The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Designing the Action Plans Stage 5

90. 1. Intention 2.Vision 3. Diagnostic4. Décisions 5. Plans d’action 6. Execution Implementing each Action Plan Stage 6 90The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

91. Execution is the crucial phase of a performant Digital Strategy A well-designed put poorly executed Digital Strategy irrevocably leads to failure. A weaker but perfectly executed Digital Strategy has greater chances to success. Digital Strategy execution must be methodical and followed to the letter. Section 4 will explain to you how to produce the documents you need to the implementation process. 91The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Implementing each Action Plan Stage 6

92. Section 4 Make Which documents do I need to produce to carry out a performant Digital Strategy ? 10 documents you will need !

93. To develop a successful Digital Strategy, you need to make the right decision bases on a careful analysis.At each phase of the analysis, you will need to produce a document outlining the steps to follow before going out to the next phase. Which documents do I need at each phase of the Building ? Section 4: Make 93The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

94. Start Digital Strategic Intent Tools Segmentations Vision Targeted Business Model Doc. n°1 Doc. n°2 Doc. n°3 Doc. n°4 Doc. n°5 94The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 4: Make Which documents do I need at each phase of the Building ?

95. Attractiveness Action plans Gantt diagram Decision KPIs to monitor Your Digital Strategy Doc. n°6 Doc. n°8 Doc. n°7 Doc. n°10 Doc. n°9 95The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 4: Make Which documents do I need at each phase of the Building ?

96. In order to be quickly operational, I suggest a summary sheet for each document to be produced containing: - Goals; - Content ; - Main mistakes ; - Document Format ; - Links to additional examples and articles. 10 summary sheet 96The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 4: Make

97. Document 1 Strategic Digital Intent 97The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

98. STRATEGIC DIGITAL INTENT The goal of this document is to synthesize the elements that lead the company to implement or change its Digital Strategy. MAIN MISTAKES CONTENT It is a working document, preparatory to the development of the Vision. The document should contain an answer to each of these questions: 1. What do you want to accomplish ? 2. Why ? 3. How ? 4. With whom ? 5. What ? 6. When ? 7. Where ? Each answer should be short, 2-3 sentences maximum. FORMAT The document is short. One page maximum.The best is to make a two columns table with questions on the left and short answers on the right. The most common mistake is the confusion between Intention and Vision.The goal of the Intention is to formulate the first intuitions which will then serve as a basis for the development of theVision. Document 1: Digital Strategy Intent 98The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 4: Make

99. Document 2 Vision 99The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

100. VISION The purpose of this document is to clarify your Vision for your Business.This document is key because: -Vision will drive all future decisions; - The Vision must be understood by all because it brings togethers all the stakeholders. TheVision has three elements: - The current Business Model (analysis based on document 1: Digital Strategic Intent); - A federative sentence dealing with the projection of your business in the future; -The targeted Business Model, the next one (see Document 4) Example: «We will be at 5 years the world leaders of purple grated carrots high-end». Here again, it is a short document, one page max. Check this article to build you Business Model. Two main mistakes: - Not linking Vision and Business Model, or the value generating mechanism in general. - Short-term thinking: build a medium- long term vision, 2-3 years is good. Document 2:Vision 100The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition MAIN MISTAKES CONTENT FORMAT Section 4: Make

101. The following 4 documents should be produced almost simultaneously: - Synthesis of the tools to use; - Detailed targeted Business Model; - Segmentations; - Industry Attractiveness measure. 10 fiches synthétiques 101The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 4: Make

102. Document 3 Tools 102The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

103. TOOLS To carry out your diagnosis, you should produce a document where you synthesize the results of the tools you used, and the implications of these results. This document is longer than the others.You should list all the tools, specifying the methods of choice and construction. You must finally detail the results and their implications. These results must me pragmatic and operational because you will use them later in the action plans formulation process. I recommend using 3 tools max. try to be as specific as possible. The size of this document varies with the number of tools chosen. I recommend however less than 10 pages, with 50 % dedicated to the analysis of the tools’ results. Here are some resources dealing with data collection and analysis, tool selection, and segmentationS. The 2 main mistakes: - Using a lot of tools turns systematically to failure because the results of each tools are not convergent; - Do not confuse tools and to-do lists, and do not forget the analysis step. Document 3:Tools 103The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition MAIN MISTAKES CONTENT FORMAT Section 4: Make

104. Document 4 Targeted Business Model 104The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

105. TARGETED BUSINESS MODEL The goal of this document is to detail the Targeted Business Model, with regard to theVision (Document 1). The Vision is the projection of your business in the future. It leads to the creation of a new Business Model. This document is devoted to this new Business Model.You will specify among other things the targeted audience and the offering. The components of the Business Model are detailed below. As the new Business Model will guide all your decisions, it must be simple, clear and understandable by all stakeholders in the Digital Strategy. Indeed, the Business Model fuses all the fibers of the company: marketing, finance, supply chain, IT, R & D, ... This document is 1-2 pages long. It includes a detailed development of the 4 parts of the Business Model. Here is a resources. The most common mistake is not to detail each part of the Targeted Business Model, and thus not to remove the ambiguities.The document must be clear to all stakeholders, otherwise it is not ready. Document 4: the targeted business model 105The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition MAIN MISTAKES CONTENT FORMAT Section 4: Make

106. Document 5 SegmentationS 106The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

107. SEGMENTATIONS The goal of this document is twofold: - Strategic segmentation - Marketing segmentation In this document, you synthesize the strategic segmentation which deals with your product and services, and the marketing segmentation, which focuses on the audience. A very clear understanding of your audience is key. Matching the audience’s needs with your offer is the road to success, but it is subtile. The purpose of this document is to understand and to detail this link. The document is divided in two parts, two pages each, no more. It must be short and factual. Complete the written part with a summary table and/or a clear figure. The most common mistake is the confusion between these two d i f f e r e n t m e t h o d s : s u p p l y s e g m e n t a t i o n a n d a u d i e n c e segmentation. Document 5: Segmentations 107The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition MAIN MISTAKES CONTENT FORMAT Section 4: Make

108. Document 6 Industry attractiveness 108The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

109. INDUSTRY ATTRACTIVENESS The goal of this document is a simple calculation: the HHI. It will be used in several tools, like Porter’s 5 Forces. There are several indexes to measure the industry attractiveness. I recommend the HHI (Herfindahl-Hirschmann Index) because it is simple and error risks are minimized. The HHi is the sum of the squares of the market shares of all the companies in a market: So, if there are 3 companies, A, B and C, with the following market shares: A=10%, B=60% and C=30%, the HHI score will be : HHI = 10² + 60² + 30² HHI = 100 + 3600 + 900 HHI = 4600 The higher the score, the more concentrated the industry, therefore potentially profitable (but more difficult to access given the low number of competitors). Short document, 1 page max.You should list all the competitors, classify them by market share (make a table), then calculate the HHI score and explain it. Here is the HHI wikipedia page. Do not estimate the industry attractiveness empirically. your impressions, and emotions, will be less accurate than the HHI. So, use the HHI. Document 6: Industry Attractiveness 109The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition MAIN MISTAKES CONTENT FORMAT Section 4: Make

110. Document 7 Decisions 110The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

111. DECISIONS Synthesis of the Digital Strategic Decisions for the company. This document lists the decisions. Each decision will take the form of a short sentence. You should conceive the process as several embedded sub-parts.The vision is the projection of your business in the future. It order to make your vision realized, several decisions should be made and implemented.Thus, each decision should be conceived as a further step towards the realization of the vision. If 3 major achievements are required, then 3 decisions will be formulated. Decisions are at the macro level;Action plans are at the micro level. Short document, half a page max. Each decision is a sentence. Ex: If your vision is «becoming the first city bakery in term of volumes», we can think of two decisions: 1.We must be «top of mind» when people think «bakery»; 2.We must produce and sell 25% more pastries. Do not confuse decision, intention, vision and action plans. Document 7: Decisions 111The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition MAIN MISTAKES CONTENT FORMAT Section 4: Make

112. Document 8 Action plans 112The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

113. ACTION PLANS The goal of this document is to synthesize the Action Plans For each decision, an action plan should be conceived. each action plan is a set of tasks to be carried out. Action plans affect every fiber on the business. Indeed, the realization of a merchant website involves many nested tasks: customer experience analysis, payment process, delivery, ... Thus, each action plan has a marketing, finance, R&D, sells, ... dimension. You should write one page per action plan. If it is longer, it’s because the document is not synthetic enough. Each action plan is conceived according marketing, production, finances, sells, ... issues. It is systemic, involving the whole business. Document 8:Action Plans 113The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition MAIN MISTAKES CONTENT FORMAT Section 4: Make

114. Document 9 KPIs to monitor 114The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

115. KPIs TO MONITOR The goal of this document is to synthesize all the KPIs (Key Performance Indexes) to monitor. This document is a synthesis of all the KPIs that were considered as key in the elaboration of the previous documents. This document will help you to make the KPIs consistent, convergent and non redundant. 1 page, in the form of a tree-column table: - Name of the KPI; - Measurement; - Definition (What it is used for). Make the KPIs as operational as possible. Example: Performance is not a KPI. Use «ROA» or «Number of new customers/day». Document 9: KPIs to monitor 115The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition MAIN MISTAKES CONTENT FORMAT Section 4: Make

116. Document 10 Gantt diagram (Goals organization) 116The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

117. GANTT DIAGRAM This document organizes and summaries all the tasks and their progress. It is a synthesize of everything you wrote. The Gantt diagram, or Gantt chart, is a tool that allows you to represent on one page all the tasks to be carried out in order to succeed in a project. By extension, we use it in Digital Strategy to plan, coordinate and articulate all the actions plans to be carried out. Another advantage. the chosen Digital Strategy is not engraved in the stone. It will evolve according to the competitors retaliations. Having an up-to-date Gantt chart allows you to inject new actions and articulate your reactions. This facilitates the emergence of new ideas. Do not underestimate planification and coordination. 1 table, 1 page. Here is how you can do it with Excel. Document 10: Gantt Diagram 117The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition MAIN MISTAKES CONTENT FORMAT Section 4: Make

118. Section 5 Use Use the most adapted tools according your needs 18 very useful tools for your Digital Strategy

119. Section 5: Use Use the most adapted tools to implement your Digital Strategy Digital technologies allow you to be in direct with your consumers, who form a «community». 119The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

120. This community is a group of people who follow the news of your business. Digital tools allow you to tap into people’s emotions and increase the commitment of this community to grow your business. Your customers are on Facebook, Twitter, Instagram, Snapshat, or Linkedin, and that’s where you need to be. 120The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 5: Use Use the most adapted tools to implement your Digital Strategy

121. Let’s take the example of Facebook. The news feed is at the heart of Facebook’s strategy.This is where the user reads news about family, friends, relationships, and favorite brands.The user reads things s/he likes, and feel positive emotions. 121The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 5: Use Use the most adapted tools to implement your Digital Strategy

122. Advertisements are inserted into the news stream so that the user associates her/his positive emotions to the ads. This reasoning can be applied to other social networks. And remember: Internet users spend on the average of 30% of their surfing time on social networks. 122The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 5: Use Use the most adapted tools to implement your Digital Strategy

123. Several tools allow you to increase your efficiency on social networks, managing a community, helping you in your diagnosis, improving your user experience on the media you use, ... 123The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 5: Use Use the most adapted tools to implement your Digital Strategy

124. Here are 18 effective tools, grouped by topic, to meet specific needs. They are available in many languages. 124The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 5: Use Use the most adapted tools to implement your Digital Strategy

125. Strategic analysis tools 125The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 5: Use Use the most adapted tools to implement your Digital Strategy

126. ALEXA http://www.alexa.com What for ? Alexa analyzes key metrics for more than 50 million websites. Extremely useful for monitoring and analyzing an industry. 126The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

127. Mention https://mention.com Mention is an excellent strategic intelligence tool which works in real time and updates throughout the day. 127The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition What for ?

128. Pocket https://getpocket.com Pocket allows you to mark content and set it aside for later viewing. Very interesting when you collect studies that you want to read later. 128The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition What for ?

129. Google Search Console https://www.google.com/ webmasters/tools/home?hl=fr The Google Search Console will help you improving the visibility of your website. It’s simple and a must-have. 129The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition What for ?

130. Google Trends https://www.google.fr/ trends Google Trends gives you search trends on Google and allows you to determine the exact w o r d s e n t e r e d b y Google users. 130The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition What for ?

131. Google Public Data Explorer https://www.google.com/ publicdata/directory Google Public Data Explorer is a meta database which gives you access to an enormous amount of free public data.Very easy to use. 131The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition What for ?

132. Managing social network tools 132The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 5: Use Use the most adapted tools to implement your Digital Strategy

133. Buffer https://buffer.com/ business If you want to publish on Twitter, Facebook or Linkedin, but you don’t want your message get lost in the mass, then let buffer program your posts for you at the best time. Formidable. 133The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition What for ?

134. Commun.it https://commun.it A remarkable community management tool for Twitter and Facebook. Simple, fast, and efficient, it allows you to automate certain tasks. 134The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition What for ?

135. Riffle http://crowdriff.com/riffle Riffle is a small tool which allows access to statistics on Twitter users: RT, comments, likes, ... 135The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition What for ?

136. Hashtagify.me http://hashtagify.me Hashtagify.me Make your posts visible ! Hashtagify.me is a search engine that will allow you to explore the best hashtags for your tweets or posts. 136The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition What for ?

137. Crowdfire https:// www.crowdfireapp.com Crowdfire allows you to automate certain tasks onTwitter, identify fake or inactive accounts, and manage your community. 137The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition What for ?

138. Twitter Counter http://twittercounter.com This statistics generator on twitter allows you to learn more about your business and to identify your most read content, among others. 138The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition What for ?

139. LinkedIn SSI https://business.linkedin.com/.../ the-social-selling-index-ssi Are you reachable on Linkedin? Your Social Selling Index (SSI) gives you an idea of the impact of your Linkedin profile. Use SSI to improve your profile. 139The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition What for ?

140. Improving the user experience 140The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 5: Use Use the most adapted tools to implement your Digital Strategy

141. Pablo https://pablo.buffer.com Pablo allows you to add text to photos. Easy and simple. 141The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition What for ?

142. Pexels www.pexels.com Pexels is a database of free, high quality photos. E a s y t o u s e , a n d complementary to Visual Hunt. 142The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition What for ?

143. Visual Hunt https://visualhunt.com Similar to Pexels, but with different photos. Should be used in addition to Pexels. 143The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition What for ?

144. Teamwork 144The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition Section 5: Use Use the most adapted tools to implement your Digital Strategy

145. Slack https://slack.com Slack is an excellent collaborative tool, simple and practical. Some companies use it to reduce the use of e- mails. 145The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition What for ?

146. Wetransfer https:// www.wetransfer.com/ Wetransfer.com is an e x c e l l e n t t o o l f o r exchanging large volume documents. Free up to 2 GB. 146The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition What for ?

147. Section 6 Practice 10 good practices + 2 bonus

148. N°1 : Keep it simple ! The vision and decisions should each take the form of a simple sentence. You are going to communicate them to your teams, so make sure they are clear and understood. How to check ? Write out your vision and decision(s) and have someone totally external to the situation read them. If s/he understands what you mean, you are ready. Otherwise, try again. 148The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

149. N°2 : The vision guides all your decisions For each of your actions, you must keep in mind the vision as ell as the general thinking strategy. Each action should bring you closer to fulfilling your vision.Vision is what guides you. 149The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

150. N°3 : Execution is the key ! The Graal of Digital Strategy, it a great Strategy, well planned and executed.You won’t know if your Digital Strategy is good until you carry it out. If you fail, won’t know if the problem is your Digital Strategy or its execution. It’s better to have a perfectly executed poor Digital Strategy than a poorly executed highly smart Strategy. Make sure you get the execution right. 150The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

151. N°4 : Think Audience ! Your Digital Strategy should lead to competitive advantage and a profitable, defensible and sustainable position. All consumers are different, and you want to build an offer that appeals to specific ones. Address everything to this specific audience because your clients are at the heart of every decision. 151The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

152. N°5 : Tap into Emotion ! Digital makes it possible to have a direct relationship with your audience. Facebook, Twitter, Snapshat or Instagram can help you tap into their emotions. Keep in mind that one of the keys to your Digital Strategy is the emotional experience you provide to your clients. 152The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

153. N°6 : Measure everything ! You won’t know what is going on until you measure it. This is the difference between impressions and analysis. The great thing with Digital Strategy is that you can automate a lot of things. look, for example, the information that Alexa provides you. Automating the measuring process makes it possible to increase access to information at a minimal cost, and thus to make decisions based on facts. «What doesn’t get measured doesn’t get managed !» Peter Drucker 153The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

154. N°7 : Think Mobile ! 50% of people who connect to Facebook do so from mobile device. Mobile technology is the name of the game. Everything you do must done with this in mind. Adapt your service to tablets and smartphone. 154The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

155. N°8 : Plan ! Be well prepared, get organized ! Plan your actions. Review the documents you have written up (Section 4). Organize the information your tools provide (Section 5). Anticipate, and plan for the future. 155The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

156. N°9 : «Here today, gone tomorrow» Do not engrave your Digital Strategy in stone. That is called «emergence». Your Digital Strategy must continually evolve, because it is guided by your vision. Markets are dynamics, everything goes very fast. As soon as you do something, your competitors will react, will retaliate. You can’t sit still a minute, you have to react. Measuring everything will help you to react the right way, both emotionally and rationally. 156The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

157. N°10 : Digital Strategy is a way of thinking ! You should not think of Digital Strategy as something you just design and then implement. It is not a checklist. Digital Strategy is a way of thinking, something that you are thinking about all the time. It is a continuous process, not something done once for all. Put in place some routines: check your reports and KPIs every morning, schedule meetings are regular intervals. Performance loves routines. 157The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

158. Last tip 1 : Dive in ! do not be afraid of social media Your audience spends on the average 30% of the time online on social networks. You can’t avoid being present on social networks. that’s where it’s at. You know, like all professionals, that we learn by doing. Some things will work, others won’t. If you make a mistake, correct it and move on, even on social networks. Dive in ! 158The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

159. Last tip 2 : Train yourself ! Do you have «Digital Anxiety» ? Do you feel that your skills are not up to speed, that everything going too fast ? Do not worry, it is pretty normal to feel this way. The worst thing would be to do nothing. The information you now have is a great start. The two following links can help you move into the Digital Age: Google Digital Active Facebook Blue Print If you don’t train yourself, nobody else probably will ! 159The Art of Digital Strategy for Executives by @jp_Timsit, 2016 Edition

160. If you like it, share it. Sharing is caring !

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