Entrepreneurial business owners could be forgiven for thinking that the ‘digital revolution’ only applies to larger businesses and that they can continue in their old ways and still remain competitive: nothing could be further from the truth.
All businesses need to adopt a digital strategy that’s supported by a clear digital implementation roadmap.
The problem for many smaller businesses is in understanding exactly what a digital strategy should cover and how to make sure it delivers real business value. It’s no longer good enough just to have a website and correspond using email!
Here are the 10 questions you should be able to answer to define your digital strategy:
- Do you have a clear idea which of your business processes are most amenable to automation?
- Do you have a clear technology adoption plan in place?
- Does your digital strategy ensure that your technologies will integrate and work with each other?
- Do you have a ‘single view of the customer’ through integrated CRM or related technologies?
- Have you assessed how your customers could better engage with your business using technology?
- Do you regularly review and monitor customer feedback using digital mechanisms?
- Do you have a full understanding of the data available to your organisation?
- Do you have a mechanism for collecting all your data – both financial and non-financial?
- Is your data actively curated to provide insight to the owners and key staff?
- How do you compare with your competitors when it comes to digital adoption?
Having a digital strategy is no longer a ‘nice to have’ in your business, it has become a key business tool if you want to remain competitive.
Here’s two actions you can take right now to start your digital journey:
- Grab a coffee and a memo pad and score yourself (-5 to +5) on each of the questions above and then decide where you’d like to be. Which are your top three? Create a plan to work on these first, then the next three and so on.
- Ask your three best customers about their digital experience of working with you and which of your processes you could automate to better serve them.
To your success