How this guide raises your game :-
- Understand the 2 different approaches to building an online store strategy.
- How doing an external analysis and internal capability review sharpens up your strategy.
- Learn how your strategy shapes your goal, business case and activation plan.
When you decide to set up an online store, it needs a strategy to lay out how it’s going to work. Building a strategy involves many hard choices. If you go down the traditional “full” strategic process, it usually looks something like this.
First, you define your goal. What is it you need the online store to do for you?
Then, you identify a target audience. What need do they have which your store can help them meet better than anyone else?
Lastly, you work out what capabilities you need to make this all happen. And then you go plan how to put it into action.
But this all takes time. And there are other options where you can launch a store fast and cheap, and then use the data you gather to build and refine your strategy after you store is live.
We’ll look at the pros and cons of both the fast and full approach to online store strategy in this guide.