---
title: Defining “Digital” as a Strategic Competitive Differentiator
description: A consumer-centric holistic strategy is needed to be successful. Strategic definitions place digital as a competitive differentiator engaging consumers early in the customer journey.
---

[ARGO Thought Leadership](https://blog.argodata.com/thought-leadership-blog)

# [Defining “Digital” as a Strategic Competitive Differentiator](https://blog.argodata.com/thought-leadership-blog/defining-digital-as-a-strategic-competitive-differentiator)

 Written by [ARGO](https://blog.argodata.com/thought-leadership-blog/author/argo) | Aug 3, 2023 1:30:00 PM

Early industry definitions of ‘digital’ narrowly focused on self-service fulfillment as a standalone channel. While this solved a tactical need, it also assumed a banker-centric point-of-view. This narrow approach gets banks to the ball game too late and virtually eliminates any competitive edge, especially in the early awareness and consideration customer journey phases.

A consumer-centric holistic strategy is needed to be successful. Strategic definitions place digital as a competitive differentiator engaging consumers early in the customer journey: detecting needs, advising on financial planning, servicing customers in their channel and time of choice, and ensuring satisfaction to drive future relationship growth.

In addition to digital account opening, a strategic digital approach requires the following key considerations:

- Omni-channel interconnectivity—the ability to start in one channel and finish in another
- 360-degree view of the customer
- Needs detection through digital sensory
- Abandonment detection and re-engagement
- Data-driven automated decisioning
- Hybrid automated and human engagement over the customer journey
- Market segment personalization and relevant content
- Voice of the Customer (VOC) insight and satisfaction measurement
- Analytics and KPIs providing actionable management insights.

For more information, download the [Defining Digital as a Strategic Competitive Differentiator](https://info.argodata.com/defining-digital-as-a-strategic-competitive-differentiator) interview document.

[View full post](https://blog.argodata.com/thought-leadership-blog/defining-digital-as-a-strategic-competitive-differentiator)

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