Ways to leverage digital growth channels to give your startup an edge,
Digital growth channels democratize entrepreneurship by making marketing and publicity easier, greater, affordable. Digital channels are there for the takings, open to anyone, for every industry participant. For a serious startup, you need to have a website and a social media presence that is in line with their industry’s leader.
1 Build barriers of entry to your digital growth strategy.
Build new technology, it’s defense and promote transparency for customers to know and understand your technology, what it does without tipping off the competition. Focus on how you will build brand loyalty even years down the road, ensure your change management plan incorporates constant re evaluation of how you are progressing towards a brand that rewards and inspires loyalty.
2 Transform analytics to a barrier to entry
Recognize early on every piece of data you generate, every transaction, contract and project. Correlate the outcomes you achieved with the resources you mobilized, time, staff, software and ad spend.
3 Embrace adversity
Things like pandemics, recessions, discriminations and involuntary career setbacks may knock you off the game, as a startup, build a game plan and act quickly because of the small nature of your team and business.
4 Often enjoy resilience as much as risk taking.
In resent health crisis, retailers that could quickly implement fast shipping and curbside pickup, restaurants that could rapidly reconfigure their spaces for outdoor dining and the gyms that could incorporate open air setup’s had an advantage.
Have a distributed workforce to accelerate your growth, build for adaption, not insulation. Cultivate your employees skills in innovation, change and creativity, along with an awareness of how new technologies like AI and IoT can affect growth.
5 Demonstrate thoughtful leadership.
Good leadership results in loyalty among employees as well as customers and suppliers, also transparency where you share your best and brightest insight freely, stay relentlessly up to date on customer needs and preference.
With these, you will be able to build the moat around your value proposition.