3) You will fall behind
The last point directly ties into this. If you are unsure of what the competition is doing, and how others are using digital tools for their businesses - you will ultimately fall behind and lose market share. Companies are investing heavily in their digital infrastructure and strategy because that is the future, and it is the best way to move forward.
Having digital tools at your disposal enables your business to:
- make faster business decisions
- gain valuable insight into the market and customers
- create marketing that truly packs a punch
- continue to innovate
That last bullet is essential: The strongest way to move a business forward is to innovate, and that is impossible without having a digital strategy in place. Initially, creating and executing a digital strategy takes time and patience, especially when trying to understand the marketplace and positioning. But once that is established, the rest comes naturally.