What are the best ways to use strategic thinking for digital opportunities?
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— The LinkedIn Team
Strategic thinking is a valuable skill for anyone who wants to succeed in the digital world. It helps you to identify and leverage the best opportunities, overcome challenges, and create value for your customers and stakeholders. But how can you develop and apply strategic thinking for digital opportunities? Here are some tips and examples to help you.
The first step of strategic thinking is to have a clear vision of what you want to achieve and why. Your goals should be SMART: specific, measurable, achievable, relevant, and time-bound. They should also align with your overall mission, values, and purpose. For example, if your goal is to increase your online sales by 20% in the next quarter, you should have a clear idea of who your target customers are, what their needs and pain points are, and how your products or services can solve them.
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Nidhi Pandey
Founder, CMO👉 Helping Accounting/Tax Firms achieve transformational growth by marketing that builds brand and gets results 🥇 | B2B Marketing Expert ♠| Raison d'etre my 👶
Defining your goals is very contextual. It also needs to consider the growth stage and growth plans you have for your firm. Meaning, an early-stage SaaS firm's goals and budget are completely different from an early stage B2B firm's goals. What you need to also think is that are the growth plans you have operationally sustainable if your marketing investments started generating the results.
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Sina Miri
Strategic Development Manager at Golrang Industrial Group
In my perspective, navigating the digital landscape successfully involves a holistic strategy centered on customer needs, agility, and continuous innovation. Collaboration, a transparent digital roadmap, and a strong cybersecurity focus are crucial. Prioritizing user experience, staying tech-savvy, and competitor analysis contribute to a robust approach. Strategic partnerships, optimized digital marketing, and regulatory compliance are key elements. Investing in employee training is vital for workforce empowerment. This perspective positions organizations to effectively seize digital opportunities.
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Robin Lau
Digital Strategist | Gaming and Entertainment Specialist | Data & Innovation | MBM
For strategic thinking to flourish, your goals should be SMART. They must be specific, measurable, achievable, relevant, and time-bound. But there's a deeper layer. Your goals should also echo your mission, values, and purpose. They're the 'why' behind the 'what.' 🎯💡 Take, for instance, a goal to boost online sales. It's not just about numbers; it's about knowing your customers' needs and crafting solutions that resonate. Strategic thinking is the bridge that connects your aspirations to action. 🚀💬
The next step is to assess your current situation and identify your strengths, weaknesses, opportunities, and threats. You can use various tools and frameworks to do this, such as SWOT analysis, PESTEL analysis, Porter's five forces, or the value chain. The aim is to understand your internal and external environment, your competitive advantage, and your gaps and challenges. For example, you might find out that you have a loyal customer base, a strong brand reputation, and a unique value proposition, but you also face high competition, low customer retention, and changing customer preferences.
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Robin Lau
Digital Strategist | Gaming and Entertainment Specialist | Data & Innovation | MBM
Strategic thinking begins with seeing the bigger picture. It's about peeling back the layers to reveal your strengths, weaknesses, opportunities, and threats. 📊🤔 Tools like SWOT analysis, PESTEL analysis, Porter's five forces, or the value chain are your lenses to scrutinize the internal and external landscape. Your mission: grasp your competitive edge, discern gaps, and unearth challenges. 🕵️♂️🔑 Imagine, you might discover a loyal customer base and a stellar brand reputation, but also face fierce competition and evolving customer preferences. This is where strategic thinking takes shape – in the balance between your advantages and hurdles. 🤝🏆
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Ben Carr
Manager of Learning & Development
In my experience, each framework has it's own strengths, and may work better for certain scenarios over others. However, I believe that the critical impact we can make depends on our ability to research, understand, ask effective questions, listen, and respond appropriately. While those skills may seem overly simple, honing them and improving them will far outweigh the impact of someone using a model without them.
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Lohana Rebelo
Estratégia Digital | Lançamentos de infoprodutos| Copywriting | Funil de vendas
É preciso analisar o marketing de produto e da empresa em seu mercado, se será preciso investir mais na construção de marca e no valor percebido do seu produto ou do seu negócio. Como os seus principais concorrentes se posicionam e como tudo isso gera impacto em seu market share. Mapear dados para analisar as possíveis ações para minimizar os seus pontos fracos e superar os desafios, criar novas formas de receitas com as suas oportunidades. É importante analisar também se são fatores externos ou internos que estão gerando desafios, se será preciso mudar a cultura da empresa ou sua estratégia de negócio.
The third step is to brainstorm and explore different options and scenarios to achieve your goals. You can use creative thinking techniques, such as mind mapping, brainstorming, or SCAMPER, to generate as many ideas as possible, without judging or filtering them. Then, you can use critical thinking skills, such as logic, evidence, and criteria, to evaluate and prioritize the most feasible and effective solutions. For example, you might come up with ideas such as launching a referral program, creating a loyalty scheme, or offering free shipping.
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Robin Lau
Digital Strategist | Gaming and Entertainment Specialist | Data & Innovation | MBM
Begin with a brainstorming bonanza using techniques like mind mapping, brainstorming, or SCAMPER. No idea is too outlandish at this stage; let your creativity flow freely. 🌪️💬 Next comes the critical part. Apply logic, evidence, and predefined criteria to gauge and rank these ideas. What's feasible? What's most effective? 📊🎯 For instance, you might explore launching a referral program, creating a loyalty scheme, or offering free shipping. The magic happens when imagination meets reason, and you're left with a path to your digital goals. 🌠🤝
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Ben Carr
Manager of Learning & Development
One thing I've found helpful is to properly set the stage for everyone involved with clear expectations.... "every idea belongs on the table, and every comment deserves to be heard". I own a software company, as well as an online game studio, and I can tell you that this stage of strategic thinking often gets overlooked, or isn't handled properly. Just for a few minutes, forget about constraints. Don't worry about current state. Ignore spoken or unspoken expectations. Let your mind do what it was designed to do, imagine. This is not as easy as it sounds, and it takes practice, but when done correctly can and will open up doors that we never thought were possible.
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Lohana Rebelo
Estratégia Digital | Lançamentos de infoprodutos| Copywriting | Funil de vendas
Através de coleta, organização e análise de dados é possível gerar algumas alternativas e avaliá-las. Mais importante que isso, é testá-las para ver qual irá performar melhor. É preciso ter alternativas baseadas na realidade e de possível aplicação, por isso a utilização de dados é tão importante.
The final step is to select and execute your strategy based on your analysis and evaluation. You should have a clear action plan that outlines the steps, resources, responsibilities, and timelines for your strategy. You should also monitor and measure your progress and results using key performance indicators (KPIs) and metrics. You should be ready to adapt and adjust your strategy if needed, based on feedback and data. For example, you might track your sales growth, customer satisfaction, and retention rate, and make changes to your pricing, promotion, or product features if necessary.
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Robin Lau
Digital Strategist | Gaming and Entertainment Specialist | Data & Innovation | MBM
A well-defined action plan is your blueprint, mapping out the steps, resources, responsibilities, and timelines. It's your GPS on this journey to success. 🗺️📍 But it doesn't end there. Monitoring and measuring are your compass. Key performance indicators (KPIs) and metrics illuminate your progress. Be prepared to adapt and adjust based on feedback and data. It's a dynamic journey. 🧭📊 For instance, watch your sales growth, customer satisfaction, and retention rate closely. If needed, tweak pricing, promotion, or product features. It's the art of fine-tuning your strategy for digital triumph. 🎨💬
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Ben Carr
Manager of Learning & Development
This part of the article outlines everything we need in a simple and clean way. Understanding the details and being able to implement them are of course a different story. I'd say that our combined thoughtful attention to the needs of the business and the audience will drive our decisions. Be ready to adjust and iterate. And if it comes to it, despite all your efforts to avoid it, be ready to scale back, make big changes, or even start over. That may not always be possible depending on your specific situation, but just knowing that it is an option in a last resort situation can open us up to additional avenues that will make a far larger impact than we could have hoped for.
One of the best ways to improve your strategic thinking skills is to learn from others who have successfully used them for digital opportunities. You can read books, blogs, podcasts, or case studies that showcase how different individuals or organizations have applied strategic thinking to create value, solve problems, or innovate in the digital world. You can also network and collaborate with other strategic thinkers, such as mentors, peers, or experts, and exchange insights and feedback. For example, you might join an online community, attend a webinar, or enroll in a course that focuses on strategic thinking for digital opportunities.
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Ben Carr
Manager of Learning & Development
This right here is 100% necessary. No matter how much skill, experience, confidence, or success you have had, reaching out and learning and growing together is essential. We need to open ourselves to what is possible, and often times that comes in the form of advice, feedback, or experience from the most unlikely people.
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Wabiner Douglas Ferrinho
LinkedIn Creator | Marketing | Entrepreneurship | E-commerce | Digital Business | Consumer Behaviour | Behavioral Economics | Growth Hacking | Product Head | Innovation | Ux Design | Sales | Consultant
Learning from other people is always an additional opportunity for knowledge, especially strategies that have been tested and that sometimes, if adjusted, can help solve a challenge you're facing at the moment.
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John Perkins
At wethepeople we build highly effective marketing programmes for global healthcare brands. Over 18 leading companies already benefitting from our unique approach.
Always be learning. That's a key characteristic of successful people. Listen to a podcast or book when you are doing chores, commuting or working out. Carve out 30 mins every day to read a book.
Another way to enhance your strategic thinking skills is to practice and improve them regularly. You can do this by challenging yourself to apply strategic thinking to different situations, projects, or tasks that you encounter in your personal or professional life. You can also use self-reflection and feedback tools, such as journals, surveys, or quizzes, to assess your strengths and weaknesses, and identify areas for improvement. For example, you might set yourself a goal to use strategic thinking for one digital opportunity per week, and write down your process, results, and learnings.
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John Perkins
At wethepeople we build highly effective marketing programmes for global healthcare brands. Over 18 leading companies already benefitting from our unique approach.
Find a process that works for you. I've broadly been using the same process for a number of years - using customer journeys as a foundation, plot the current behaviours and attitudes of your target persona, and then the desired behaviours and attitudes. This approach just works.