Grow Your Key Metrics

Digital Growth Strategy Framework

Digital Strategy is a plan of action used to achieve business goals through the implementation of digital initiatives.

Level360 Insights Digital Growth Strategy Framework

So many leaders suffer from “digital shiny object syndrome”, where they find themselves enticed by emerging technologies. Too often, a business’ “digital strategy” is a blind adoption of the latest and greatest technology, simply for technology’s sake. You should avoid the distraction of buzzwords. Adding as many new technologies to your plan as possible is not the path to growth.

While this way of thinking may offer short-term publicity and a feeling of accomplishment, it can also lead to failure if it isn’t backed by a strong strategy. This is why I created the Digital Growth Strategy Framework. This framework assists businesses in focusing directly on what technologies work best for their company, in their industry, and with their customers.

Set Clear Objectives

You will not accomplish a goal you never set. The key to any digital growth strategy is clear objectives. The objectives you set must be specific, measurable, actionable, realistic and set to a timetable.

Tie objectives to your enterprise level objectives, so you are working in the same direction. Setting SMART objectives can many times identify unintended silos, that have been setup within your organization. The key to strong objectives is breaking down those silos and recognizing the ways in which each area, department, or function can work together for the benefit of company’s overall objectives.

Know Your Numbers

To know where you are going, you must know where you are currently. Often business owners implement new technology without identifying a baseline with which to measure the success of this new technology.

All initiatives should be put in place with the purpose of moving your business closer to your objectives. It’s imperative that you begin with a baseline and then measure against the outcomes of the technology implemented.

Optimize Your Process

Work smarter, not harder. That’s an old adage that especially rings true when implementing a digital growth strategy plan. Your process of implementation must be organized in such a way that all areas affected are considered.

So often, a technology is put in place without regard for all affected functions. Businesses design and launch new websites without bringing the analytics team, marketing team or even sales and customer support teams into the fold. This is one of the greatest mistakes you could make.

Identify a process for implementation that works well, and duplicate that process each time you are ready to adopt a new technology. The process you document should begin with a set of guiding principles that will help you navigate the ultimate “need” for the technology you are interested in using.

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