Digitally-inspired marketing strategies are now being increasingly adopted by companies, but many question their ability to achieve meaningful results, Forester Research says in a new report titled “The Future of Business is Digital.”
According to the findings, over 90% of business leaders across the globe expect digital to have an impact on their business in the short run. However, just a third of respondents expressed confidence that their current digital campaigns will generate success, while two-thirds of the sample admitted they are skeptical about their own strategy.
Despite the prevailing uncertainty regarding digital strategies, over 50% of global executives highlighted the important role that digital technology plays in modern business decisions.
The report also revealed a wide-ranging lack of digital expertise across organisations, with only 15% of respondents saying they have the right staff and skills to effectively action their strategy. Also roughly the same percentage of business leaders believe they are using the correct processes to execute their digital plan.
The inflexibility of functional departments is another challenge identified by companies, with two-thirds saying they are too rigid to ensure the success of new technologies. According to Forester’s findings the eCommerce, IT and sales sectors are the areas impacted the most by digital marketing strategies.
There are particular approaches that companies can follow to improve their digital strategy for better customer experiences and digital operational excellence, Forester suggests; digitalising the end-to-end consumer experience to ensure that all customer channels are well coordinated is another thing companies should strive to achieve, the authors said.