The pillars of Digital Commercialization

The pillars of Digital Commercialization
09.10.2018 Kathrin Kempf
Säulen

Successful digital commercialization of services and products requires a balanced interaction between various departments. As a first step, the recruitment of adequate talent is a crucial basis, but not an easy task nowadays.
The right experts for collecting relevant and sufficient data as well as their appropriate analysis have to be found. Analytics fuels the Marketing and Sales process in the digital era. These analytical systems enable Marketing and Sales executives to manage leads according to customer needs and expectations. The leads have to be steered in a convincing and seamless way through all available digital and analogue channels until the customer decides to buy or rebuy. On an organizational level, all parties involved have to move closer together and work along coordinated incentive systems. 

Pillars Digital Marketing

Pillars of successful Digital Commercialization
Source: iq! Management Consulting 

How to set up outstanding Digital Marketing and Sales

The Sales funnel is changing dramatically in the digital era (as outlined in the article „Importance of B2B Marketing grows„). As the customer is increasingly determininig the customer journey and switching freely between channels, Marketing overtakes a decisive role in identifying and accompanying him until the purchase decision is made.

More than ever, customer needs are the core of every digital commercialization strategy (read more in the article Customer Centricity is King). The amount of available data and analytical possibilities make it easier than ever to determine the exact requirements of the different customer segments. One huge obstacle in attaining this is the scarce availability of adequate know-how on the applicant market. The technological development is outpacing the formation of digital experts. And talent is needed on various levels: alongside data crunching, analytical skills are equally important (read more in an iq! article about Big Data and its challenges). In many companies, various data bases and IT Systems (e.g. CRM, Marketing Automation, Campaign Management, etc.) exist next to each other. However, an optimal output is only achieved when the different systems and sources are unified so that all departments affected access the same information.

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How to steer the customer through a multichannel journey

The access to a single source of information about the customer and its actions is hard to achieve. But it is the determining factor of success for a functioning multichannel experience. The performance of all campaigns and commercialization measures applied should be tightly tracked along the different contact points with the customer. It sounds simple, but it is a tedious task to define all possible customer and communication journeys end-to-end. Crisscross through all channels.

Since the customer is becoming more independent and self-determined, an active lead management is essential. Customers expect a personalized treatment according to their customer value and companies are challenged to deliver. Read more in an iq! article about Digital Lead Management.

Like so often, the organizational requirements close the framework. Silo thinking and management behind closed doors have no room in the Digital Marketing and Sales process. All incentive systems and departmental structures should be aligned to focus on the primary objective: steer the customer successfully through a pleasant journey to a transaction.

Conclusion

Commercialization in the digital era is not easy. A multitude of channels, technological advances and demanding customers have to be managed. Alongside the six pillar framework presented in this article, iq! developed a roadmap explaining the precise steps towards a successful digitization. This roadmap is outlined in the following articles: „How to digitize a company“ and „Many companies lack the digital basics“  . These may add a practical note to the framework presented.

 

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