Tapping into the power of a collaborative expert team and aligning to a data-driven vision.
There's a popular expression that "knowing is half the battle". Many organizations are acutely aware that if they are not positioned to upgrade their digital capabilities, it may rapidly become difficult to compete. The risk is potentially losing relevancy, customers, and revenue. Hence, Digital Transformation is a priority for successful organizations of today and tomorrow.
Moving from the point of awareness to action can be daunting but it doesn't have to be. Here are some practical ways your organization can prepare for the "race to the top":
Form a Core Team: Appoint a small Core Team of cross-functional experts to spend a portion of their time defining the digital future. While digital experience impacts nearly every area of the business, there are functions which are particularly engaged including Digital Product, UX, CRM, I.T., Marketing, and Analytics to name a handful. Small and mid-sized companies may have fewer stakeholders, but the expertise in key areas should be represented. The team should operate in a highly collaborative way.
Perform a SWOT Analysis: Once the Core Team is assembled, they can critically assess the organization's digital presence through a thorough SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats). It is just as important to identify areas in which your company is strong as it is to find gaps and 'gotchas'. Focus on all available inputs: current capabilities, organizational skills, user experience, market trends, the competitive landscape and the like.
Declare a Vision: Stakeholders should align on a North Star that defines the future including what a successful Digital Transformation looks like for your particular company and your customers.
Develop Action Items: Assign specialized activities to further scope particular aspects of your digital transformation journey. For example, one action may be for your I.T. representative to document the existing MarTech architecture and explore opportunities for improvement, while another might be for your UX representative to develop solutions to enhance the front-end user experience.
Conduct Research: Core Team members should share Action Item findings and create a framework for either formal or informal market and customer research. Evaluate all assumptions and proposals and adjust accordingly.
Present Recommendations: The Core Team (often in collaboration with partners in Finance) should develop and present a comprehensive recommendation plan to their leadership complete with background, ROI and growth targets.
Prepare for Change: Digital Transformation involves thoughtful and caring change management. Team members often need to brace for upskilling and staff augmentation. Partner with your Human Resource team to help motivate and guide the company towards this positive growth. And it's worth mentioning here, that the priority and focus of transformation should begin at the top. Ensure the North Star is evangelized and supported by business leadership, and that each team member sees their part in this important growth story.
Structuring a solid core team and vision, fueled by research can help organizations thoughtfully approach their transformation efforts, creating a framework for readiness and action. But this is only the beginning. Once you get started, remember Digital Transformation entails ongoing evolution so ensure structure is in place so you are positioned to constantly build and grow. If you're not, it just may be time to get started!
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