The challenge does not result from the lack of budgets or the lack of technology.
It's due to something straightforward.
Yet so many people fall into a trap that makes it impossible to reach their KPIs.
Let's bring in a simple analogy to shed better light on what is happening.
There is a road trip of 2000 km, and there are two cars: one Red and one Blue, each trying to get to the beach first.
The Red car starts its journey at 02:00 in the morning. As the highways are almost empty, Red can travel at an optimum speed of 100km/h quite efficiently. By 08:00 am, it already covered 600 km.
Meanwhile, the Blue car sleeps in and starts its journey at 08:00 in the morning. As the traffic is heavy, it can't cruise efficiently, and at the same time, the pressure is on to catch the Red car.
What seems to be the issue here?
Many brands act like the Blue car. There is a huge market pressure to grow in digital, and they are looking at brands like the Red car. They desperately mimic the actions of the ones ahead, but they don't realise that the circumstances have changed significantly.
When Red departed, the traffic was low, and it could advance efficiently. Catching and even passing the Red car with the same driving style won't be enough for people travelling in the Blue car. Even if they spend a bit more on fuel to go faster, realistically, they will get only slightly closer.
Don't imitate. Innovate.
Copy-pasting the driving style is not enough to reach similar success as those in front of us with a considerable advance. A shift in strategy is needed to succeed and catch the car ahead, all while being effective in the process.
For example, a viable option may be a change in resources – like, in our case, changing the vehicle type from car to helicopter. The means of transport is faster; the route is a simple straight line with no significant traffic. However, a chopper can be a costly endeavour, so if it doesn't fit the budget, innovative thinking has to come into the picture: maybe a drone will suit the needs.
What to take away
Catching up with those who started their digital journey before your brand is hopeless by copy-pasting their strategy. It won't bring you results, only frustration: it'll get you stuck in the lukewarm midfield.
What to do instead?
Give your brand the opportunity to gain new insights about diverse growth opportunities, and then develop the strategic roadmap that'll genuinely enhance your future digital journey.