4 steps to successful digital transformation – Step 1: Refining your digital strategy

In this series, we will uncover four key steps that every digital transformation project team needs to take in order to be successful.

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In this series, we will uncover four key steps that every digital transformation project team needs to take in order to be successful.
Step 1: Refining your digital strategy
Today’s companies need to think about how they will restructure their digital strategy to account for all the changes that have occurred in consumer behaviour. The velocity at which consumers adopted technology forced businesses to accelerate their digital plans. How will this change the trajectory of your business in the next year? Five years? 10 years?
Both in the short term and over the next several years, companies need to strategically reconsider how they will attract, retain, and maintain customers. To begin this process, consider where you are on your digital journey and what the next steps might look like for your business.
Here are three ways to help you get started with refining your digital strategy:

1. Think through your goals and create a North Star strategy

Our approach to North Star focuses on three key pillars: 1) Make it achievable. You need to focus on creating customer-centric goals that are achievable for wherever you are on your digital transformation journey. 2) It must be cross functional. The North Star will only be successful if departments across the board are aligned to it. 3) There are clear and established processes for validating the North Star with data. If you can’t measure it, there will be no way to determine if the program is successful. These pillars drive the North Star and everything you do to ensure success for your digital programs.

2. Assess your current digital strategy and conduct research with end users
   Whether you think you need to update your mobile app, create a conversational chatbot, or something else, start by checking in with end users. In some cases, you can rely on technology to help. For example, the
   Friction Report is a proprietary tool that uses AI/ML to analyse thousands of customer reviews on mobile apps, websites, and similar tools to help businesses see what they’re doing well and where they could use some help. The Friction Report can also summarise how these digital touchpoints, such as mobile apps, perform across an industry. However you decide to research, the point is to not forget this incredibly important step. With consumers increasingly turning to digital channels, your company needs to reassess its digital strategy to ensure you are providing maximum value to your customers.
3. Determine which offerings need to be implemented or enhanced
   Once you’ve uncovered where customers experience the most friction and where there are opportunities for improvement, it’s time to consider which digital offerings you will conquer. Here are a few common ones that we’re seeing companies invest in:
   a. Mobile apps – The expectation for mobile apps to not just work, but work really well, has never been higher. Find out if your current mobile app supports customers or if there are ways it could be more intuitive.
   b. Conversational AI – More voice technology is surfacing to help consumers who prefer to use Alexa for everyday tasks. Consider how voice can play a role in your digital strategy.
   c. Artificial intelligence/machine learning (AI/ML) and personalisation – Smart, intuitive digital solutions embedded with AI/ML can expand your company’s vision by learning about the individual customer and using that data to provide the most relevant offers to each one. This level of personalisation is increasingly critical to maintaining customer loyalty.
   d. Rewards and loyalty programs – How can you improve your rewards and loyalty program to provide the most value to customers? It’s all about personalising each experience to keep customers coming back today.
   e. Contactless delivery programs – An in-house delivery program gives you another opportunity to learn what your customers need and want, instead of giving away this Intel to third party vendors. Plus, it can often mean lower fees for your customers, helping them remain happy and loyal.
   f. Contactless payments – Increased safety measures calls for touchless technology wherever possible. Eliminate the need to use cash or even a physical card in exchange for a safer, more secure option.
   That’s step 1!
   I hope these tips were helpful as you consider how to develop and enhance your 2021 digital strategy. In our next edition, you’ll learn about how to take your cloud experience to the next level.