Adapting a Company’s Strategy in the Digital Transformation Era

Christian Tanushev
University of National and World Economy, Sofia, Bulgaria
DOI: https://doi.org/10.31410/eraz.2018.902

4th International Conference – ERAZ 2018 – KNOWLEDGE BASED SUSTAINABLE ECONOMIC DEVELOPMENT, Sofia- Bulgaria, June 7, 2018, CONFERENCE PROCEEDINGS published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; Faculty of Business Studies, Mediterranean University – Podgorica, Montenegro; University of National and World Economy – Sofia, Bulgaria; Faculty of Commercial and Business Studies – Celje, Slovenia; Faculty of Applied Management, Economics and Finance – Belgrade, Serbia, ISBN 978-86-80194-12-7

Abstract

The article explores how the company’s strategy develops in the digital transformation era. Going digital is crucial for the survival of the corporations. Four stages are defined as required: motivating the consumers by activating their external and internal triggers, alluring them to engage in the required activity that will transform the potential customers to real ones, requiting the observed action by providing specific reward – constant or variable, and finally stimulating the investment of either time, effort, data, social capital, or money. The final goal is to acquire the consumers and convert them to loyal devotees of the company’s products.