The Tao of digital strategy

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Businesses across the world are experiencing the disruption of digital, particularly in the consumer products sector. Yet too often, digital considerations are merely a secondary factor in an overall business strategy, limited to investment in e-commerce. In a fast-evolving market, businesses that follow the principle, or “Tao,” of embedding digital approaches to connect with, serve and understand their customers more closely will be the ones who win.

Creating a business model that ensures constant connectivity with the consumer or shopper will not only lead to financial growth, but loyalty and advocacy.

This article explains the essential components of a digital strategy and provides practical guidance on how to define and articulate it. The authors explore the e-commerce consumer products sector in India, examining the current ecosystem and what insights it can provide for other markets.

The Tao of digital strategy, today, is for a business to understand its corporate objectives and develop short-term and long-term approaches that help it achieve its vision through investments in digital capabilities. A digital strategy should be integrated with a company’s customer strategy so that it can acquire consumers, address markets, define tactical activities and achieve its goals and, in so doing, better engage across its customers’ life cycles.

The article was written by:

  • Srinivas Yelandur
    Director, Digital Advisory Services, EY, India

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