How are you reinventing your business strategy in this era of digital transformation?
Digital transformation presents businesses with the opportunity to reinvent your business strategy through new processes and systems.
What are some of the best case practices that we can adopt from companies who have successfully digitalized their systems for their consumers?
Edward Tse, CEO at Gao Feng Advisory, led China operations for Boston Consulting Group for 20 years and is known as the “Father of management consulting in China”.
Based on his research, he shares 4 principles that companies should follow in reinventing their business strategy for consumers in the digital era.
Here are the Four Principles of Digital Business Model Design:
1) Ubiquity
– Build a large active user database, and connect consumers to your business with an omni-channel presence.
2) Segment-of-One
– Personalize consumer experience by working with AI and big data to discover their interests and create more interaction.
3) Interactivity
– Create frequent touch points and active engagements with customers through technologies.
4) Community
– Leverage communities of interest and increase the sense of belonging and trust.
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