Many companies are seeking to take their current business models and transform them onto a digital-native platform. As both B2C and B2B interactions become more digital, this seems like a prudent step, especially if you are fearing disruption from a digital-native competitor. Many companies, however, are getting digital platform development wrong. There are six critical components to developing a digital-native platform that will live up to your expectations; however, most platforms reflect two or three of these components, at best.
- While most platform projects begin here, I recommend clients end here, instead. This is where the greatest investment and costliest decisions will be made. Critical elements of a good foundational system include real-time decision-making, having a single customer view and delivering personalized Web experiences and targeting based on great data and analytics. However, having the vision and roadmap for the platform is even more critical. Knowing what will make your platform relevant, feel digitally native and drive customer engagement should drive your technology decisions — not the other way around.
Shiv Gupta is a principal at Quantum Sight LLC. He helps clients develop data, analytics and digital technology strategies to drive compelling relationships with customers. In this blog, he'll discuss ways in which marketing organizations can regain their strategic bearings and leverage their tech stack for both short-term and long-term gains. Reach him at firstname.lastname@example.org.