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Crafting a Digital Strategy

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A process and checklist for digital strategy development.

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Crafting a Digital Strategy

  1. 1. Crafting a Digital Strategy: A Process & Checklist for Digital Strategy Development Ed Terpening Industry Analyst, Altimeter @EdTerpening Aubrey Littleton Researcher, Altimeter @AubreyLittleton
  2. 2. Enter document title and manual fixed date in this placeholder on the topmost slide master to “lock footer” information 2Proprietary and confidential. Do not distribute. WORLD-REKNOWNED TALENT Altimeter's principal analysts and authors, Charlene Li and Brian Solis, have authored much of the influential research on critical digital and technology topics. Altimeter, Prophet’s analyst team, helps clients understand and respond to digital disruption A UNIQUE COMBINATION Altimeter’s research-based frameworks, combined with Prophet’s world-class consulting capabilities come together to create deep digital expertise and help clients bridge the gap between strategy and execution. LEADING-EDGE INSIGHTS & BEST PRACTICES Our digital strategies are grounded in best-in- class research covering digital transformation, social business and governance, big data, customer experience, content strategy, and the Internet of Things. Charlene Li Brian Solis Susan Etlinger Ed Terpening Omar Akhtar Aubrey Littleton
  3. 3. 3 Welcome! And thank you for joining us. @EdTerpening @AubreyLittleton
  4. 4. 4 Polling Question What best describes your digital strategy state today: ∙ No plans ∙ Planning now ∙ Executing strategy ∙ Scaling & measuring results
  5. 5. 5 Digital Transformation The realignment of or new investment in technology, business models, and processes to more effectively compete in an everchanging digital economy. Digital Strategy A plan of action to achieve business objectives using digital technologies
  6. 6. Our research report identifies a phased approach, questions to ask, and the barriers addressed at each phase
  7. 7. 7 Developing a Digital Strategy The best strategy answers the right questions: 7 steps to guide you.
  8. 8. 8 1 2 3 4 5 6 7
  9. 9. 9 Key Factors ∙ Market forces (external) ∙ Cultural shift (internal) ∙ Competitor moves Outcome ∙ Identify driving forces for digital moves “The benchmarks for customer experience are not necessarily being set by organizations in your industry. They’re being set by companies like Amazon, Uber and Netflix.” Katharine English Chief Marketing & Customer Experience Officer National Association of Professional Women 1
  10. 10. 10 1
  11. 11. 11 Polling Question What best describes your push to create digital strategy: ∙ Market forces ∙ Cultural shift ∙ Competitor moves ∙ Leadership directive
  12. 12. 12 Key Factors ∙ Business objectives ∙ Guiding principles ∙ Investment / budget Outcome ∙ Secure commitment from a leader who can bridge organizational silos 2 “Change requires leadership, and digital is no exception”
  13. 13. 13 2
  14. 14. 14 Key Factors ∙ Organizational structure ∙ Building alliances ∙ Including key stakeholders Outcome ∙ Form a team with “skin in the game” to source the best ideas and ensure alignment 3 “The key is that you can’t be successful on your own and do it all yourself.” Scott K. Wilder Sr. Director / Global Nation Builder Marketo
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  16. 16. 16 Key Factors ∙ Confront internal & external truths ∙ Identify new value propositions ∙ Identify threats Outcome ∙ Create a clear picture of both internal readiness and market opportunities “For a lot of people within the organization, digital is a foreign concept.” Monu Kalsi, VP of Digital, Zurich North America 4
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  18. 18. 18 Key Factors ∙ Prioritization ∙ Engage to bridge silos ∙ Ensure tech infrastructure & teams engaged Outcome ∙ Formulate digital strategy alternatives “The sheer amount of coordination and friction that you endure…is a big challenge. Everything around the company is focused on silos, so there’s no real incentive for people to stop what they’re doing.” anonymous digital strategist 5
  19. 19. 19 Polling Question If you have co-created strategy, which of the following barriers were addressed successfully: a) Alignment, getting silos on the same page b) Securing resources for digital c) Moving internal culture towards a digital mindset d) Understanding priorities of impacted departments
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  21. 21. 21 Key Factors ∙ Create roadmap ∙ Confirm economics ∙ Begin governance discussion Outcome ∙ Synthesize ideas into a coherent direction “To be really effective, you need a strong but flexible governance structure: something that feels like silk, not something that feels like steel.” Claudia Gorelick, US Business Design Director, Accenture Interactive 6
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  23. 23. 23 Key Factors ∙ Strategy roadshow ∙ Share the vision ∙ Confirm KPIs Outcome ∙ Seek leadership and key stakeholder commitment to strategy roadmap execution “It’s all about change management. You have to keep on selling your business case — your transformation agenda. Always. It never stops. If you stop having that conversation, you stop transforming.” Rohit Prabhakar, Head of Digital Marketing & Technologies, McKesson 7
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  25. 25. 25 Key Takeaways ✓ Collaborate to align ✓ Don’t neglect cultural change ✓ Leaders are accountable ✓ Use data to inform, not dictate
  26. 26. Q&A Disclaimer: Although the information and data used in this report have been produced and processed from sources believed to be reliable, no warranty expressed or implied is made regarding the completeness, accuracy, adequacy or use of the information. The authors and contributors of the information and data shall have no liability for errors or omissions contained herein or for interpretations thereof. Reference herein to any specific product or vendor by trade name, trademark or otherwise does not constitute or imply its endorsement, recommendation or favoring by the authors or contributors and shall not be used for advertising or product endorsement purposes. The opinions expressed herein are subject to change without notice. Ed Terpening Industry Analyst ed@altimetergroup.com @edterpening Altimeter provides research and advisory for companies challenged by business disruptions, enabling them to pursue new opportunities and business models. To ask a question: Use the chat feature on the right side of your screen and direct your questions to the host and presenter.
  27. 27. 27 More from Altimeter, a Prophet Company Recent reports include the following titles: • The Customer Experience Cloud • Customer Experience in the Internet of Things • Consumer Perceptions of Privacy in the Internet of Things • The Trust Imperative • The 2015 State of Social Business • What Do We Do With All This Big Data? • Social Media Employee Advocacy: Tapping into the Power of an Engaged Social Workforce • Key Elements of a Content Strategy • The Six Stages of Digital Transformation Upcoming research topics: • The Digital Transformation of Selling • The Visual Web • Creating a Culture of Customer Obsession

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