For those who grew up with technology, undergoing a digital transformation seems like a no-brainer. After all, won’t our lives improve significantly with an improved CRM or new application in place to solve that major issue? You might think so but the stats aren’t great. In fact, Boston Consulting Group (BCG) research found only 30% of digital transformations are successful.
Lucky for us …
The 30% that were successful all had these six key factors in common. Fortunately, they aren’t anything revolutionary and if followed, they can actually help make digital transformations 2.7x as successful.
#1: Set Integrated Strategies with Clear Goals
Integrated strategies align the “what”, “why” and “how” of your plan. Once those are laid out, consider how your proposed technology is critical to the plan. Make it clear that successful tech = successful business.
Whether it’s a CRM update, new digital marketing strategies, or implementation of cloud-based apps, successful digital transformations get there by setting goals early and staying on top of them.
A simple way to ensure you’re setting the right goals is to follow the S.M.A.R.T. mentality.
- Specific: What? Why? When? Where? Who?
- Measurable: How much? How many?
- Achievable: Realistic and attainable but still challenging
- Relevant: Is it worth doing? Is it the right time? Are the right people involved?
- Time-bound: When will we launch? What is our 6-week goal? What is our goal for today?
#2: Commitment from the Top Down
BCG points out a disconnect in middle management. Though 75% of executives felt they had good engagement from middle management, only 33% actually did.
Those who saw success in digital transformations did so because they included middle management early on in the process. In addition to providing feedback and ideas, middle management serves as a “conduit” between C-Suite and employees, which helps get their teams on board.
#3: Deploying High-Caliber Talent
Talent-wise, companies need to know what they don’t have. The most successful digital transformations enable middle management to find the right talent to make it happen. Instead of trying to build a brand new team, consider how you can play to your team’s strengths. How can your team learn to fill gaps—not just work around them?
#4: Digital Transformations with an Agile Mindset
Any digital transformation in BCG’s research fell into one of three zones:
90% of companies in the “Woe” section of digital transformation did not use an Agile framework. Instead, they relied on a more “bureaucratic” approach which just isn’t fast or flexible enough anymore. Agile frameworks, or “a specific approach to planning, managing and executing work”, allow organizations to make quick decisions on the unknown, which undoubtedly will come up.
Here’s a quick look at the differences between the two from Steven Denning’s work, The Agile Mindset vs. The Bureaucratic Mindset. This comparison provides a clear outline of why companies need to start making the shift to Agile Mindsets if they want to grow.
#5: Real-Time Tracking and Evaluating of Goals
One of the main reasons companies upgrade to a digital platform for sales and marketing is to allow them to track and act on data. However, that can only happen if users know what they’re looking for.
To identify what data you should be tracking, consider your short and long term goals. What are they? What needs to be done in order to reach them? Can that be quantified?
It’s also important to identify who will be responsible for each set of data and how often you will need to report on it. If data is key to reaching your goals, ensure your digital transformation supports that.
#6: An Integrated Tech Stack
An integrated tech stack is one where multiple applications communicate and work together. These connections save time and help you get the most out of your applications. One of the most popular is email automation and CRMs. Connecting these programs helps reduce manual input which saves time and reduces room for error.
Sometimes, you may end up phasing out technology. That’s okay! With so much business going virtual, your platform can be just as important as your message. Don’t let your outdated platforms reflect negatively on your innovative ideas.
These six keys to a successful digital transformation can not only help get your project across the finish line but can also help create a trajectory for continued improvements.
Build an Integrated Strategy with DIGIDECK:
- Get aligned from the top-down with our proven onboarding track
- Put your best people in the right places with custom accessibility
- Govern projects in Agile-Friendly small teams with in-app communication and 3rd party messaging integration.
- Monitor and measure SMART goals with Salesforce and CRM integrations
- Rethink your tech stack with a platform that keeps you on-brand and connected