Don’t Stall, Accelerate! 3 Steps to Realign your Digital Transformation

After a disruptive year and fearful of being left behind, many organisations are still scrambling to realise their digital opportunities, to survive in this new era of digital transformation. Even though a massive 92% of senior executives acknowledged that lockdown made digital transformation a priority, companies who are pursuing this journey have found their efforts have slowed or stalled at some point.

A recent digital trends survey stated that nearly 70% of respondents aren’t confident about their company’s prospects for growth this year. This is due to their reactive practices and a lack of a strategy in approaching growth within their industry over the next 24 months. To overcome this, digital leaders need to take a step back and go back to basics to review and re-determine their strategic thinking. This can be achieved by using a Vision, Metrics and Goals framework.

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Vision

Where do you want to be in 12 months?

• Your vision statement can be identified across any part of the business including technology, customer, sales and operations.
• Your statement should be ideally customer-focused and have longevity
• Your statement should be easily understood by all employees

Goals

What milestones do we need to reach in order to achieve our vision?

• These should be SMART (Specific, Measurable, Achievable, Realistic, and Time-bound) and bring you closer to your vision.
• You should determine how can digital contribute to these goals
• Remember to limit the number of goals to ensure you stay focused

Metrics

How do we know if we’re hitting our goals?

• Don’t fall into the trap of setting too many KPIs; instead, focus on the top 3-5 measurements.
• When setting KPIs, think about measurements that are already a current focus for the business, such as revenue growth within specific segments or reducing your cost to serve.
• Consider cascading KPIs — these are KPIs specific to different teams/roles but are still relevant to the same vision and goals. For example, executive-level KPIs are more likely to focus on revenue, whereas digital practitioners are likely to focus on web analytics

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By implementing a foundational strategic framework and having a clear well-defined strategy and vision, your organisation will be on the right track to reaching your digital ambitions.

To learn about how Switch can help you deliver on your Vision, Goals, Metrics framework book a consultation with us today and realise your digital future.

— Nick Jones