- Digital investments often under deliver on expectations of return, and there is no cohesive approach to managing the flow of capital into digital.
- The focus of the business has historically been to survive technological disruption rather than to thrive in it.
- Strategy is based mostly on opinion rather than an objective analysis of the outcomes customers want from the organization.
- Digital is considered a buzzword – nobody has a clear understanding of what it is and what it means in the organization’s context.
Our Advice
Critical Insight
- The purpose of going digital is getting one step closer to the customer. The mark of a digital organization lies in how they answer the question, “How does what we’re doing contribute to what the customer wants from us?”
- The goal of digital strategy is digital enablement. An organization that is digitally enabled no longer needs a digital strategy, it’s just “the strategy.”
Impact and Result
- Focus strategy making on delivering the digital outcomes that customers want.
- Leverage the talent, expertise, and perspectives within the organization to build a customer-centric digital strategy.
- Design a balanced digital strategy that creates value across the five digital value pools:
- Digital marketing, digital channels, digital products, digital supporting capabilities, and business model innovation.
- Ask how disruption can be leveraged, or even become the disruptor.
- Manage disruption through quick-win approaches and empowering staff to innovate.
- Use a Digital Strategy-on-a-Page to spark the digital transformation.
- Drive awareness and alignment on the digital vision and spark your organization’s imagination around digital.