How to Take Advantage of Europe’s Digital Recession

Europe is facing the Greek crisis, a migrant influx, the appeal of nationalism, and now a stagnating digital development. The Digital Evolution Index conducted a study of 50 countries, including 23 on European soil, and ranked only three countries in the “Stand Out” category: Estonia, Ireland and Switzerland. All other countries are stagnating or falling behind. Why? Because of rigid regulations that hinder digital evolution.

From a macroeconomic perspective, this may be Europe’s biggest threat; a silent and insidious threat: once the talents have been lost, the patents registered by others and new industry giants have settle down, it will be very difficult to catch up.

Switzerland’s ranking in the “Stand Out” category is excellent news; the country will have to maintain its pole position.

 

 

 

From a microeconomic perspective, this is an opportunity for entrepreneurs and businesses that are making the digital leap. Digital evolution doesn’t stop with online advertising. It is about all operational sectors of a company: store data on the cloud, choose an efficient CRM (and not tailored made in 99 percent of the cases), make email your friend and not your enemy, and dare replace it with other services.



Today, there is no area of the economy that cannot rethink its business model or its operations while integrating the digital dimension.

Consider this:

1. Email as friend

Email was invented in the 1990s; today, email can be managed by tools that mirror a work philosophy. To choose a tool is to choose a philosophy. Make sure the philosophy you choose matches that of your business.

2. Avoid multi-media

Fax, email, telephone, intra chat, intranet… Communication means are numerous, but if you want to be efficient, you must know which to give up and what your engagement rules are.

3. Cloud

Maintaining your data locally has become obsolete. A cloud access encourages remote working, reduces the risk of losing information, and increases collaboration.

4. CRM (client relationship management)

Many large businesses do not know who their clients are. They have statistics about them, but they do not know their names, first names, etc. As soon as you have more than 1000 clients, a CRM is a strategic advantage when correctly used.

5. Automation, robotization

How many tasks performed by your colleagues could be automatized? Google’s philosophy is to have algorithms do as much as they can. It seems to be a successful approach, so why not try it?

6. Use existing services

Would you like to remind your sales reps to place umbrellas at the entrance of the store because rain is expected? There are services that offer that kind of automatization without any technical knowledge necessary. Conduct a little search and try them out!

7. Professionals

Surround yourself with professionals. Digital transformation is not a matter of improvision.

 

Source: https://hbr.org/2015/02/where-the-digital-economy-is-moving-the-fastest , Fathi Derder