When developing your strategy, you need to consider the unique characteristics of your audience and marketplace and the capabilities your current business operations. This chapter develops a digital strategy map that you can use to prioritize investments and projects. You need to effectively match your audience’s needs and expectations with the resources and assets you have available to transform your business. We identified four pathways to digital business transformation. Recent studies have shown that digital technology initially depresses earnings for most media companies. However, companies that aggressively pursue integrated digital strategies are most likely to survive and thrive in the years ahead. Here are the questions you’ll consider in this chapter:
- What is the type of media environment in which a digital enterprise operates?
- What are the key resources and assets that a company has available to meet the expectations of its current and future customers?
- What is the framework for aligning the media environment with a company’s key resources?
- What are the pathways to digital transformation?
- How do you determine where to place your bets to ensure profitability of the entire enterprise?