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What makes a digital business succeed?

Uri Baruchin considers what makes a digital business succeed.
So, the interesting thing about the question of what makes a business, a digital business, succeed and there’s a big difference here between whether it’s a digitally native business or a business that is moving into digital. I think the important thing to understand is that the fundamentals are still the fundamentals. You still have to figure out what you’re about, what you’re bringing to the game, what are your advantage and your core competencies and what defines your brand. You still need to understand who are your people out there. The different audiences that you’re trying to engage. Why are you relevant to them? Why are you offering to them?
Then you also need to look at the wider context of the competition and the category and the culture and ask yourself what is the distinctive thing that you’re going to offer within that space? Now the digital digital platform bring in a lot of questions around user experience and and product strategy and different and different tools and different systems that you use and that are replacing some of the more traditional marketing mechanisms and business mechanisms. But I think one of the dangerous things is when businesses are kind of like distracted and and don’t realise that it’s about getting the fundamentals of strategy right first regardless of what kind of tool or channel you’re using.

Does it matter whether a business is ‘digitally native’ or whether they are just starting out on their digital transformation?

Let’s pick up with our digital business expert, Uri Baruchin, as he explains what he thinks are the fundamental aspects of a successful digital business.

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Introduction to Digital Transformation and E-Commerce

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