In organizational science and strategy books you often come across this well-known mantra from Peter Drucker: culture eats strategy for breakfast . In other words: no matter how good your strategy is, if it does not match the culture in your organization, then the chosen strategy has no chance in advance. At pure-play e-commerce businesses, we can replace this with another mantra: conversion eats strategy for breakfast .
Now that many companies have gone through a digital transformation, they are becoming more and more like e-commerce companies. In terms of strategy formation and execution, marketers can learn a lot from these organizations. With this pure playe-commerce businesses are more closely related to strategy, tactics and day-to-day operations. The strategy doesn’t just work top-down. Continuously conducting conversion optimization experiments (bottom-up) also gives direction to the company’s growth strategy. Moreover, horizontally the boundaries also blur because conversion optimization affects all facets of business operations. In short, strategy is fully integrated. And if conversions and sales are Canadian CTO CIO Email Lists disappointing, the business model may not work. In that case, business model transformation is chosen more quickly than with traditional organizations.
If a strategy (top-down) opts for serving certain market segments, then that is not cast in stone . New product innovations shorten the product life cycle of the current category. As a marketer, you want to know which innovation you should focus on, without doing time-consuming and expensive market research. After all, the brains of an online marketer are largely in the cloud.
The experience surrounding the brand and the product category is inventoried via web scraping of reviews and analyzed by emotional analytics. This is a relatively new application of AI. The biggest frustrations of the brand, besides the user profile, come to light. But also those of the competition! Based on these insights, you can develop and test new products or services and range extensions for selected target groups. In marketing terms: segmentation, target market determination and positioning (SDP). Subsequently, the proposition and target group are refined through experiments. From a strategic point of view, this is a contemporary elaboration of the classic Plan Do Check Act (PDCA) cycle.