You can tell a lot about a business from their digital footprint. With the importance of technology today, having a strong online presence is a key part of taking your business to the next level. However, often times companies find it hard to pinpoint where they can improve.
The Harvard Business Review conducted a study on this very issue.
“There are few business leaders around the world not thinking about digital transformation in some shape or form. Whether improving omni-channel commerce or developing digital extensions to product lines, businesses are working out how to drive profitability through digital. But traditional metrics might underestimate the impact of digital, leaving companies vulnerable to aggressive competitors or pure-play disruptors. Many managers are missing digital signals that could help them better compete.”
Their studies have pinpointed several key factors that can really make a difference.
Digital magnitude. Simply put, this is the aggregate of all digital measures (visits, page views, social media views, social media visitors, etc.). Understanding your company’s magnitude versus those of competitors is a key indicator. Perhaps not surprisingly, American Airlines leads in magnitude for U.S. airlines — but not by as much as you would think.
This is just one of the helpful tips this article can teach you, so why not explore the rest at hbr.org.
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