Summary: Digital Darwinism E-Book

BusinessNews Publishing

• Herausgeber: Business Book Summaries
• Kategorie: Fachliteratur
• Sprache: Englisch

Seitenzahl: 36

Veröffentlichungsjahr: 2013

Beschreibung

The must-read summary of Evan Schwartz's book: "Digital Darwinism: 7 Breakthrough Business Strategies for Surviving in the Cutthroat Web Economy".

This complete summary of the ideas from Evan Schwartz's book "Digital Darwinism" shows how Darwin's theory can be equally applied to the digital business landscape, where huge numbers of web-based businesses are being created every day. Only the fittest and most robust of these web enterprises will ultimately evolve into new business models that will exist into the future. In his book, the author explains how the key is not trying to get onto the internet before it's too late. Instead, the focus should be on doing those things that will enable your business to survive the great struggle for existence that is certain to take place in the next phase of digital evolution.

Added-value of this summary:
• Save time
• Understand key concepts
• Expand your knowledge

To learn more, read "Digital Darwinism" and discover the key to surviving in the digital economy.

Leseprobe

Book Presentation: Digital Darwinism by Evan Schwartz

Summary of Digital Darwinism (Evan Schwartz)

Book Presentation: Digital Darwinism by Evan Schwartz

Book Abstract

Charles Darwin, in 1859, introduced the world to the concept of evolution – in which only the fittest survive as species constantly adapt to the demands of a changing environment or face extinction. This same paradigm applies equally well to the digital business landscape, where Web-based businesses are being born in huge numbers every day. Only the fittest and most robust of these Web enterprises will ultimately evolve into new business models that will exist into the future.

The World Wide Web is now 10 years old, while the Internet itself is now 30 years old. The initial fear of the Internet generated by a huge proliferation of disjointed businesses and early experimentation with novel concepts like selling a product online has now led to confidence as more consumers begin to trust Internet based business processes. That trust, in turn, has led to faith as the Internet has rapidly become the preferred medium for carrying out research about products and pricing. And that faith has translated into mass acceptance of the Internet and impressive valuations of companies focusing on this area of commerce.

In the natural world, overconfidence has always led to a shakeout where the weakest get eliminated and the strongest flourish. The same thing is sure to happen on the Internet. Therefore, the key shouldn't be trying to get onto the Internet before it's too late. The focus, instead, should be on doing those things that will enable your business to survive the great struggle for existence that is certain to take place in the next phase of digital evolution.

Important Note About This Ebook

This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.

Summary of Digital Darwinism (Evan Schwartz)

Strategy #1: Build an Internet brand that revolves around the idea of solving problems.

Main Idea

The most successful Internet companies don’t concentrate on selling products cheaply – they solve real-world problems that nobody else is addressing, using a combination of online and offline processes.

Therefore, the key to developing an Internet brand of value is to build equity by:

Differentiating your solution from all others.Making your solution very relevant to the lives of users.Attaching emotional elements to the brand.Using marketplace knowledge to evolve as changes occur.

Supporting Ideas

The main mission of any business should be to simplify the life of its clients or customers by providing a solution to something people typically find repetitive, time consuming or boring. On the Internet, most businesses revolve around the objective of providing an interactive solution in these areas.

Savvy companies are building solution brands rather than technology brands – with the Internet functioning as the enabler for the brand to deliver benefits rather than the entire reason for the brand’s existence.

Brands exist solely in the mind of the consumer. Effectively, branding is a form of psychological warfare. The process of building a brand for a Web-based business actually requires four steps:

Differentiating – specifying what makes the brand stand apart from its competitors. Strong brands are perceived as being distinctive, as having attributes nobody else enjoys. The stronger the differentiation the better.Relevance – consumers identify with strong brands, and feel personally interested in what the brand stands for and the part it plays in enhancing the quality of your life. The challenge is to make a brand relevant to as wide a target market as possible while still retaining differentiation.Esteem – how passionately consumers feel about the brand. Most frequently, esteem is built on a foundation of the perceived quality of products carrying that brand, or sometimes the popularity and trendiness of that product.Knowledge – how well the consumer understands the inner sanctums of the processes used by the brand. Knowledge flows from hands-on use of the brand and observation of the results achieved.