There are a number of different schools of thought when it comes to the question of business strategy development. For example, the Planning School (which outlines how the strategy should be formulated) states that business strategy formation is a formal process. However, the Entrepreneurial School (which describes how business strategies are put together) states that the process of formulating company strategy is a visionary process.
“Business strategy formation,” says Lisa Schneider: managing director of the Digital School of Marketing, “is not only about values, vision, competencies and capabilities. A strategy for an organisation consists of top management’s plans to achieve outcomes which are in line with the organisation’s mission and goals.”
The all-pervasiveness of digital marketing
For the past number of years, the world has been adopting a digital-first mindset. This is becoming more prevalent as, owing to the coronavirus, businesses who previously did not want to adopt digital for their organisations are now being forced to or else face extinction.
The result of this is that because people are spending most of their time online, they are not consuming traditional marketing such as print ads and the like. Thus, it’s become necessary for businesses to get up to speed with best practice digital marketing techniques so that they reach their audience where they are at in the digital space.
“In order for digital marketing to be carried out effectively,” continues Schneider, “it’s extremely necessary to have a strategy or roadmap – which informs what the business wants to achieve with their digital marketing initiatives and how it is going to get there.”
The marriage of digital marketing and business strategies
The ultimate goal of a digital marketing strategy is to communicate a company’s message on digital platforms such as social media. In order to do this successfully the digital marketer needs to have an in-depth knowledge of what the business stands for and wants to achieve so this messaging can be accurately communicated.
“Thus, the digital marketing strategy needs to be informed by a business strategy because if it isn’t the company’s digital marketing efforts will fall flat on their face because they are not communicating the essence of the business at hand,” concludes Schneider.
The Digital School of Marketing is an online provider of accredited digital marketing education – which is accredited by the MICT Seta. Armed with a qualification from DSM, you’ll have the core skills needed to future-proof your marketing and succeed in the corporate world of digital marketing and advertising.
DSM, the Digital School of Marketing, is South Africa’s preferred provider of accredited digital marketing education. Our educational institution is unique as all of our marketing courses are accredited by the MICT Seta (Media, Information and Communication Technologies Sector Education and Training Authority) and we’re a member of the IAB South Africa.
The Digital School of Marketing is also an internationally endorsed member of the CPD services body of the United Kingdom, rendering all courses internationally transferable and endorsed.
We offer the most extensive array of digital marketing courses available in the market, at the most competitive prices. All courses have easy and flexible payment options, making learning highly sought-after digital marketing skills, within everyone’s reach.
All courses are comprehensively designed and ideally suited to the demands of the digital marketing industry.
LEGAL DISCLAIMER: This Message Board accepts no liability of legal consequences that arise from the Message Boards (e.g. defamation, slander, or other such crimes). All posted messages are the sole property of their respective authors. The maintainer does retain the right to remove any message posts for whatever reasons. People that post messages to this forum are not to libel/slander nor in any other way depict a company, entity, individual(s), or service in a false light; should they do so, the legal consequences are theirs alone. Bizcommunity.com will disclose authors' IP addresses to authorities if compelled to do so by a court of law.