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Even more in Digital: You need to know your Customers

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Are your digital channels the most effective ones?

While digitization, overall, is a no-regrets play, some channels resonate more in certain industries. When we compared two retail brands, we found that social media converted consideration into purchases twice as effectively as other digital channels did. For two Italian banks we studied, online searches were found to be five times more effective than other digital channels in converting consumers. The key is to know your customer, figure out the correct digital channel, and use these insights while building your ecosystem.

The digital revolution cuts two ways for companies as customers with a wider range of options become more difficult to reel in. However, brands that have moved swiftly to master digital channels—gaining a deep understanding of customer preferences, crafting digital experiences, and improving offerings via social feedback—are establishing a competitive advantage that may be difficult to beat.

via Brand success in an era of Digital Darwinism | McKinsey & Company.

I strongly believe, that companies have no choice to go digital, if they want to survive. Is it easy? No! You need to know your customers and you constantly need to evaluate and re-evaluate your channels.

Filed under: Digitalisierung & Wirtschaft, English language articles, Marketing, Werbung & mehr

About the Author

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... arbeitet in Communications bei Kyndrl Deutschland, dem weltweit führenden Anbieter zum Management kritischer IT-Infrastruktur. Den gelernten Journalisten hat seine Leidenschaft für das Schreiben, Beobachten, Kommentieren und den gepflegten Diskurs nie verlassen. Diese Passion lebt er u.a. in seinem privaten Blog StefanPfeiffer.Blog oder auch als Moderator von Liveformaten wie #9vor9 - Die Digitalthemen der Woche und Podcasts aus. Digitalisierung in Deutschland, die digitale Transformation in der Gesellschaft, in Unternehmen und Verwaltung oder die Zusammenarbeit am modernen Arbeitsplatz sind Themen, die in leidenschaftlich bewegen. Vor Kyndryl hat Pfeiffer in der IBM im Marketing in unterschiedlichen internationalen Rollen gearbeitet. Seine weiteren beruflichen Stationen waren FileNet und die MIS AG. Auf Twitter ist er als @DigitalNaiv „erreichbar“. 

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