What is a Digital Transformation strategy?
Digital Transformation is quite self-explanatory, as it is the optimization of technology and technological services as a means of facilitating organizational transformation. This can be done by modifying new processes, for instance automating manual processes, or creating new processes with new technology.
What's included in this Digital Transformation strategy template?
- Digital Transformation vision statement
- 4x Digital Transformation Values
- 4x Digital Transformation Focus Areas
- 12x Digital Transformation Objectives
- 19x Digital Transformation Projects
- 27x Digital Transformation KPIs
Who is this Digital Transformation strategy template for?
Chief Information Officers (CIOs) are responsible for the majority of a Digital Transformation strategy. CIOs can facilitate directing an organization towards digital transformation and instill more plans and procedures to help this transition go more smoothly. CEOs would also be extremely crucial in communicating this new direction and ensuring there is sufficient information provided to all stakeholders (internal and external) to ensure everyone is able to adapt and progress.
How is this Digital Transformation strategy template relevant to your organization?
You can use this Digital Transformation to enhance the value of some of your core business functions, from sales and HR to finance and operations. Using this template can help you efficiently use your time by automating key areas and thus, invest more time in greater business opportunities.
1. Define clear examples of your focus areas
The focus areas of your Digital Transformation strategy can be as broad or narrow as you want, depending on the overall mission you are trying to achieve.
The Digital Transformation Strategy we devised focuses on areas via the core business functions. Examples of these focus areas are Customer Experience, Operational Processes, IT Infrastructure, and Organizational Culture.
2. Think about the objectives that could fall under that focus area
Objectives can assist your team and you with more clarity about the things you have set out to achieve. A lot of the objectives you set should be specific and applicable to the broader focus area you’re trying to achieve. Setting clearly defined and measurable objectives help improve time management and organizational efficiency.
Examples of objectives that fall under the focus area of Customer Experience could be Enhance the customer navigation process; Improve customer engagement and interaction with the company; Aim to broaden audience reach and build a larger consumer base.
3. Set yourself measurable targets (KPIs) to tackle the objective
KPIs are important metrics that you can devise and set to help accomplish your business objectives. KPIs can provide you with measurable and performance indicators with regards to your progress for your overall business strategy,
An example of KPIs for the objective Improve customer engagement and interaction with the company could be, Increase user retention and Double user lifetime value.
Make sure these KPIs have a set time frame and are measurable.
4. Implement related projects to achieve the Product Management KPIs
In a similar way to objectives providing clarity on the goals you are trying to achieve, projects provide clarity on how to achieve these. Projects provide you with tangible actions you cans et for your team and yourself to achieve your said objectives.
Examples of projects that fall under the focus area Customer Experience can be (but are not limited to); Conduct quarterly customer feedback; Track users’ experience; Devise a customer retention email series; Utilize business technology to analyze market outreach performance and to optimize the budget.
5. Utilize Cascade tools to track and visualize performance
Cascade tools are Dashboards that have a series of widgets that provide a visual aid of the KPIs you are trying to achieve. You can create multiple Dashboards and in those, add numerous widgets to display both the projects and the KPIs you want to track.
You can also accordingly adjust the widget display, for instance, if you choose a chart, you can use the sidebar to display bar charts or a line chart. You can also customize these displays, by choosing whether you want the graph to be cumulative or noncumulative and whether you want to display the values on the chart or not.