Web programmes: Why CEOs need to speak digital

I was talking to an old friend about his view of the market and the economy in 2010. He is a director of a well-capitalised company that has been expanding their market reach during the recession. I asked him what had been the big changes since the last recession and he told me about the transforming impact of the internet.

Seven years ago 99% of their customer contact was by phone, all sales information was sent out on paper and their web site was little more than a holding page with their contact information. Now their business is almost entirely email and web based with the occasional call from a customer. However, when I asked, ” … and how many hits do you get on your website?” I was surprised by his answer. He said, “I don’t know. We have a web person that does all that stuff.”

I wonder how many other business leaders have the same view. How many see the web as a necessity, but not a source of growth, competitive advantage or company value?

There should be no mystery about this. Your web or digital strategy comes from your corporate strategy and market objectives. The different technologies mean there are more ways to implement your strategy and increase your visibility with customers. There are many benefits when using the range of different digital media (see side bar).

Apart from the presence that digital media creates for your company in peoples’ minds, it also means we can measure the impact of your engagement and thought leadership. In B2B companies, it means we can be quicker and more scientific. We send a stimulus to the market and measure the response. With all the data on volume, geography, time of day, latency, frequency, forwarding (“re-Tweeting”), following, clicking through, sentiment measures, unsubscribing, bounce rates and more, we can start to understand the market in near real time. It means we can then respond, and see what happens, and then respond to that. Before long, you have the beginnings of a “conversation” which means market engagement.

So, remember this is not just the web. Don’t leave it to the IT person or one of the younger members of staff to do the web “stuff”. This is about communicating with the market, with existing and target customers, with employees and opinion formers. It is about confirming market position, building reputation and engaging with the market. All of these impact on company value. So understanding the evolving digital media is the responsibility of every Investor, Chairman, Non-exec, CEO, MD, CFO, Head of Division and Product Manager.

I know you are busy, but there are lots of ways to maximise your impact and minimise the strain on your time. “I am too busy so I am going to hand over the digital advantage to my competitors” is obviously the wrong answer. So what’s the right answer? If you want to have a chat about your digital strategy and what you can do then please contact us.