Strategy & E-Commerce
New technologies are created and reimagined every day for the e-commerce space. So, it’s not surprizing that many organizations think all they need to do is build a great website or app to thrive in today’s marketplace.
Purpose of Strategies
Savvy leaders understand that effective strategies are focused on creating value for their stakeholders. They know that effective business practices are not created by software or the use of technology alone. Rather, they know that strong strategic planning incorporates technology tools like software to help them satisfy the needs and wants of its customers better than its competition can.
Goal of Strategy?
Long-term sustainability with superior performance is the cornerstone of any strategy. Yet, successful strategic planning can only occur if a business can truly distinguish itself from its competitors in a meaningful way. E-commerce sales funnels, time-sensitive delivery of goods and tracking outcomes are common practices in the modern economy. But to be truly competitive in the online space, organizations need to figure out a strategy that helps position them, so they stand out from their competitors.
Maintaining the Competitive Edge
Sales of any product or service, unless continually maintained and improved, can diminish quickly in the e-commerce space. Branding and marketing are key to establishing sales and long-term customers. So, when creating a new strategic plan, ask the marketing and sales teams for input. Remember, drilling down on the 30,000-foot strategic perspective will reveal that it takes more than technology to build a successful e-commerce business. Rather, a successful business strategy is focused on helping an organization stand out from the competition and create value for its stakeholders from a 360 perspective.
Elaine Allan, BA, MBA
Technology and Business Blogger