In order to work on optimizations and testing in the right way, it is therefore of great importance that the KPIs are directly aligned with the business objectives. Everyone who works on optimization should then be able to influence all important variables. Think of things like the numbers, the average order value, the margin and the lifetime value. Within your bidding strategy, the trick is to always look for the optimum. A search that – among other things due to competition and auction mechanisms – is always in motion. So it is never finished.
14. Culture remains the most important for (online) success
Regardless of all the substantive trends, the most important, overarching trend is that (traditional) companies will have to work on a cultural shift in order to continue to grow strongly online.
The speed at which companies are able to solve challenges and convert opportunities into actions has become by far the most decisive factor. These types of qualities are strongly interwoven with the culture of a company. A good, substantive strategy that is imposed top-down within a culture that does not match it will not lead to the desired results. It is then actually a hopeless task.
Originally, many companies are fairly stuck in multi-year plans. That is a big difference with the companies that show the highest growth figures today. Companies that have emerged from technology are often characterized by enormous flexibility. They are not hindered by the rigid processes of the past 50 years. They manage on data, perform experiments, look at what works and what doesn't and simply execute it.
Efficiency versus flexibility
Many 'traditional companies', on the other hand, use the oman telegram data word 'efficiency' more often than 'flexible'. While a strong focus on efficiency and the associated processes often comes at the expense of flexibility.
For the boardroom of this type of company, this is actually the most important priority. With the right leadership, you can work on building or transforming a corporate culture that is more in line with today's reality. There must be room for the 'TikTok generation'. Egos must be put aside and the lessons from traditional management methods will in many cases have to be thrown overboard. Young people in particular must be able to immediately be at the right buttons and be given a lot of responsibility and authority, whereby the current leaders will have to give them the space they deserve.
Culture remains the most important weapon that companies have at their disposal.
15. Think about how you would attack your company as a competitor and do it
What would you do if you were to set up a competitor to your current business today? This is an effective method to determine what you should be doing strategically as a business. Someday someone will do it, so why not be the one to do it.
