Build the Future By Studying Digital Business

Students in a lecture theatre with laptops

Digitalization is an unstoppable force that has been accelerated by the global health crisis. Entrepreneurs need to be prepared to start and lead digital businesses if they hope to be successful in the future.

Across industry, the digital presence of a company and its capacity to embrace new technology and identify digital trends will enable it to thrive.

To create or lead a successful digital enterprise, business leaders need to take the following aspects into account.

Digital Business Models

Existing businesses are transitioning at pace to more digital business models. According to a new PwC survey, 61% of CEOs said their business model would become more digital after the pandemic, while 38% said it would become more virtual through the addition of digital products and services.

Whether you need to transition to a digital model or are starting a new digital enterprise, there are several elements which need to be considered. These include:

Setting up digital systems and processes; building a business architecture that supports productivity and profitability.
Determining the digital products and services you do, or can, offer your customers.
Reducing your real-estate footprint, for example by not having a physical office.
Developing policies and determining the tools you need to operate a flexible and remote office.
Considering where you could use technological solutions as opposed to human labor.

In light of the ongoing impact of coronavirus and the potential for further pandemics, when establishing or taking the helm of a business it’s also wise to consider how you can integrate a level of agility that will give you resilience against the unknown challenges of the future.

As different digital solutions are suited to different types of business, it is worth conducting some research and exploring case studies to determine which path will best fit your company.

Digital Business Design

Once you’ve determined your model, you need to design the technological architecture that will support business effectiveness.

To do this, leaders need to take into consideration company size and their growth strategy, the platforms by which customers engage with the business, the number of employees and their location – are they working remotely, in an office or collaborating across geographical boundaries?

Each case will require a different design, and different systems, tools and platforms, to maximize efficiency and profitability. Answering these questions will support the creation of a business that can operate like a well-oiled machine, leaving you as a leader to focus on development and growth.

Digital Marketing Campaigns

No business, digital or otherwise, can survive without a digital marketing strategy. And while the fundamental principles remain the same, the methods and means by which you can find success with digital marketing are constantly evolving.

Digital business leaders need to have a thorough understanding of the following elements:

What is your digital marketing strategy and how does it fit within your overall marketing plan?
Who are your customers and what are your audience demographics?
Which are the most relevant social media platforms for your business?
The relative advantages of paying for advertising on social channels, PPC advertising on google, banner adverts and other paid publicity opportunities.
Which metrics need to be tracked to make sure you are reaching your business goals?

In the dynamic world of digital marketing, case studies provide an excellent learning opportunity. By studying the companies operating at the forefront of business with inventive and successful campaigns, you can better understand how to be creative within the boundaries determined by algorithms and patterns of consumer behavior.

Study for Success at EU Business School

Digital business is an exciting space because it’s continually evolving. But this also means textbook studying won’t give you the dynamic understanding you need to find success.

At EU Business School, we deliver pragmatic, experiential education which uses case studies, business simulations and events with renowned business leaders to provide students with the latest insights, and a learning experience that reflects the fast-paced world of business. To accelerate your career, explore our BA in Digital Business, Design & Innovation, our Master in Digital Business and our MBA in Digital Business.

Learn more about EU Business School, Barcelona