Demystifying Digital Transformation: Part 3 – How to Achieve It
May 15, 2018
New and emerging technologies impact business models and change customer expectations at a rate that challenges many enterprises. It’s so difficult to keep up with the pace of change, it can make digital transformation (DT) feel like a Herculean undertaking. But mastering DT isn’t about adapting to whatever’s new.
It’s about finding ways to use technology to make your company smarter, more agile, and open to a process of continual change.
In Part 3 of our 4-part series, “Demystifying Digital Transformation” (check out Part 1 and Part 2), we look at 5 steps that businesses can take to succeed at creating a more flexible, digitally mature organization over time. How can your org achieve its digital transformation? Follow these basic steps:
Step 1: Set digital transformation goals and make a plan.
Good DT begins with insight and moves into action. It’s important to gather insights, look for opportunities, and articulate your short- and long-term business goals to all stakeholders. Then you can develop an actionable plan that gets you where you want to go.
Step 2: Assemble the right core digital transformation team.
This part of the process usually entails adjusting your organization’s structure to address knowledge gaps. You’ll need buy-in and collaboration at every level of your business to successfully evolve. You’ll need to create a core digital transformation project team to establish the vision, lead the effort and champion the process. And if you need a skill-set not represented in your existing mix? Recruit the talent you need or look for the right external partners with the expertise you require. Kick off that exercise by graphing intersecting roles and responsibilities using the RACI matrix.
Step 3: Insist that business objectives drive supporting tools and tech.
Looking to improve the customer experience, transform business processes, or simplify management? To get the most out of your technology investments, make certain that business objectives drive the creation or modifications to your martech stack. Don’t be afraid to look at new ways to combine IT with organizational goals, or otherwise rethink operational processes and business models. These kinds of experiments can help drive digital growth and culture.
4. Use analytics to prove and improve performance.
Analytics helps guarantee that you have the insights necessary to demonstrate that your technology investments align with your business goals. Additionally, they also allow your IT department to optimize its performance as well. Therefore, your high-level objectives should always be supported by measurable goals, such as return on marketing investment (ROMI) or other data-driven KPIs.
5. Encourage an organizational culture that’s adaptable and open to change.
Becoming a digitally mature organization is as much about changing the culture as it is about updating technology. Encourage interaction across functions, reward collaboration over individual performance, and support more fluid, cross-functional operations. The goal is to foster a company culture that can act quickly and transform to keep pace with technological innovation as it’s happening, embracing new opportunities as they arise. Lastly, realize that digitally mature companies never stop evolving. Every incremental improvement you make will help lead to other valuable advancements down the road.
Stay tuned for the final installment of our 4-part “Demystifying Digital Transformation” blog series, as we continue to share our battle-tested perspective and practical advice for moving the needle on DT for your organization.
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