Digital strategy for business growth and customer value
A digital strategy is a comprehensive plan that outlines how an organisation will use technology to achieve its business objectives. It encompasses various elements, such as research, definition of the vision, implementation plan, and key performance indicators (KPIs). A digital strategy can help organisations deliver measurable business results now and into the future.
How can a digital strategy be implemented?
Implementing a digital strategy involves several steps to ensure successful outcomes:
- Focus on customer needs: A digital strategy should align with business objectives, particularly in meeting the needs of customers. The Jobs To Be Done (JTBD) framework can be used to understand what customers want to achieve and how technology can enable better ways to do this. This helps organisations focus on the ideal future state rather than the way things are done today.
- Understand digital status and capabilities: Before planning a digital strategy, organisations need to gain a clear understanding of their current digital landscape, strengths, and challenges. This can be done by conducting research into technology and processes, as well as interviewing or surveying leaders, teams, customers, and other stakeholders.
- Define digital strategic vision: A digital vision is a detailed picture of an organisation’s desired future state as enabled by technology. This vision should set out what challenges will be solved for customers, how they will engage with products and services, and what the organisation’s teams, ways of working, and overall business will be like.
- Implement the strategy: With a defined vision, organisations need to create a practical plan to make it a reality. This includes constructing an implementation plan that outlines steps to achieve shared goals and objectives, and mapping out a digital solution architecture, service blueprint, and roadmap. Organisations should also set and measure progress against KPIs and financial metrics, such as return on investment (ROI), to understand the success of the strategy.
Additionally, organisations should consider modernising and improving systems and driving digital transformation and innovation with new digital products and services. Partnering with a digital strategy consulting firm can help organisations navigate the path to digital strategy success and bring their vision to life with a clear roadmap to the digital future.
What is the role of a digital strategy consultant?
An expert consultant can add value to the development of your organisation’s digital strategy in several key areas. In this text, we will explore some of the ways in which a digital strategy consultant can make a big difference to your success.
Bringing internal stakeholders together
It is crucial that you create alignment on your digital strategy among internal stakeholders across your organisation, including C-suite executives, departmental leaders, team managers, and employees at all levels. An experienced consultant will be able to assist in this endeavour, ensuring that stakeholders are coordinated with the strategy and act as promoters, not resistors.
Understanding customer and user needs
For a B2B organisation, this can be your external business customers. For your digital strategy, you must focus on how it enables you to better meet their needs. The digital workplace tools and processes you provide can also be used by employees. By conducting quantitative and qualitative research, interviews and surveys of users and customers, a digital strategy consultant can help you build a clear picture of these needs.
Analysing the digital ecosystem
The digital strategy of your organisation must contend with the fast-moving technology trends and other digitally-enabled businesses in the competitive landscape. By understanding this dynamic digital ecosystem, you can frame your strategy accordingly. An expert consultant will conduct primary and secondary research and provide relevant insights from the sources found.
Analysing the trade-offs between building and buying
To implement your digital strategy, you will need to decide whether to buy off-the-shelf solutions or build your own. A digital strategy consultant can provide expert advice on whether to build or buy, based on factors such as cost, customisation, and in-house capability. They will also assist in identifying the pros and cons of each approach, helping you make an informed decision.
