crafting a digital strategy

Crafting a Digital Strategy: A Process & Checklist for Digital Strategy Development

Ed TerpeningIndustry Analyst, Altimeter

@EdTerpening

Aubrey LittletonResearcher, Altimeter

@AubreyLittleton

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WORLD-REKNOWNED TALENT

Altimeter's principal analysts and authors, Charlene Li and Brian Solis, have authored much of the influential research on critical digital and technology topics.

Altimeter, Prophet’s analyst team, helps clients understand and respond to digital disruption

A UNIQUE COMBINATION

Altimeter’s research-based frameworks, combined with Prophet’s world-class consulting capabilities come together to create deep digital expertise and helpclients bridge the gap between strategy and execution.

LEADING-EDGE INSIGHTS & BEST PRACTICES

Our digital strategies are grounded in best-in-class research covering digital transformation, social business and governance, big data, customer experience, content strategy,and the Internet of Things.

Charlene Li Brian Solis Susan Etlinger

Ed Terpening Omar Akhtar Aubrey Littleton

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Welcome!And thank you for joining us.

@EdTerpening @AubreyLittleton

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Polling Question

What best describes your digital strategy state today:∙ No plans∙ Planning now∙ Executing strategy∙ Scaling & measuring results

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Digital Transformation

The realignment of or new investment in technology,

business models, and processes to more effectively compete in an

everchanging digital economy.

Digital Strategy

A plan of action to achieve business objectives using digital

technologies

Our research report identifies a phased approach, questions to ask, and the barriers addressed at each phase

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Developing a Digital StrategyThe best strategy answers the right questions: 7 steps to guide you.

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CATALYSTLEADERSHIP CHAMPION

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TEAM BUILDING3RESEARCH & BENCHMARK4STRATEGY CO-CREATION5STRATEGY SYNTHESIS6ALIGNMENT7

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Key Factors∙ Market forces (external)∙ Cultural shift (internal)∙ Competitor moves

Outcome∙ Identify driving forces for

digital moves

“The benchmarks for customer experience are not necessarily

being set by organizations in your industry.

They’re being set by companies like Amazon, Uber and Netflix.”

Katharine EnglishChief Marketing & Customer Experience Officer

National Association of Professional Women

CATALYST1

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CATALYSTBarriers Addressed

Alignment Skills Silos Metrics Resource

s Culture Regulations

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Polling Question

What best describes your push to create digital strategy:∙ Market forces∙ Cultural shift∙ Competitor moves∙ Leadership directive

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Key Factors∙ Business objectives∙ Guiding principles∙ Investment / budget

Outcome∙ Secure commitment from a

leader who can bridge organizational silos

LEADERSHIP CHAMPION2“Change requires leadership, and

digital is no exception”

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LEADERSHIP CHAMPIONBarriers Addressed

Alignment Skills Silos Metrics Resource

s Culture Regulations

2

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Key Factors∙ Organizational structure∙ Building alliances∙ Including key stakeholders

Outcome∙ Form a team with “skin in the

game” to source the best ideas and ensure alignment

TEAM BUILDING3“The key is that you can’t be

successful on your own and do it all yourself.”

Scott K. WilderSr. Director / Global Nation Builder

Marketo

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TEAM BUILDINGBarriers Addressed

Alignment Skills Silos Metrics Resource

s Culture Regulations

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Key Factors∙ Confront internal &

external truths∙ Identify new value

propositions∙ Identify threats

Outcome∙ Create a clear picture of

both internal readiness and market opportunities

“For a lot of people within the organization, digital is a foreign

concept.”

Monu Kalsi, VP of Digital, Zurich North America

RESEARCH & BENCHMARK4

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RESEARCH & BENCHMARKBarriers Addressed

Alignment Skills Silos Metrics Resources Culture Regulatio

ns

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Key Factors∙ Prioritization∙ Engage to bridge silos∙ Ensure tech infrastructure &

teams engaged

Outcome∙ Formulate digital strategy

alternatives

“The sheer amount of coordination and friction that you endure…is a big challenge. Everything around

the company is focused on silos, so there’s no real incentive for people

to stop what they’re doing.”

anonymous digital strategist

STRATEGY CO-CREATION5

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Polling Question

If you have co-created strategy, which of the following barriers were addressed successfully:

a) Alignment, getting silos on the same pageb) Securing resources for digitalc) Moving internal culture towards a digital mindsetd) Understanding priorities of impacted departments

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STRATEGY CO-CREATIONBarriers Addressed

Alignment Skills Silos Metrics Resource

s Culture Regulations

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Key Factors∙ Create roadmap∙ Confirm economics∙ Begin governance discussion

Outcome∙ Synthesize ideas into a coherent

direction

“To be really effective, you need a strong but flexible governance

structure: something that feels like silk, not something that feels like

steel.”

Claudia Gorelick, US Business Design Director, Accenture Interactive

STRATEGY SYNTHESIS6

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STRATEGY SYNTHESISBarriers Addressed

Alignment Skills Silos Metrics Resources Culture Regulatio

ns

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Key Factors∙ Strategy roadshow∙ Share the vision∙ Confirm KPIs

Outcome∙ Seek leadership and key

stakeholder commitment to strategy roadmap execution

“It’s all about change management. You have to keep on selling your

business case — your transformation agenda. Always. It

never stops. If you stop having that conversation, you stop

transforming.”

Rohit Prabhakar, Head of Digital Marketing & Technologies, McKesson

ALIGNMENT7

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ALIGNMENTBarriers Addressed

Alignment Skills Silos Metrics Resource

s Culture Regulations

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Key Takeaways

✓Collaborate to align✓Don’t neglect cultural change✓Leaders are accountable✓Use data to inform, not dictate

Q&A

Disclaimer: Although the information and data used in this report have been produced and processed from sources believed to be reliable, no warranty expressed or implied is made regarding the completeness, accuracy, adequacy or use of the information. The authors and contributors of the information and data shall have no liability for errors or omissions contained herein or for interpretations thereof. Reference herein to any specific product or vendor by trade name, trademark or otherwise does not constitute or imply its endorsement, recommendation or favoring by the authors or contributors and shall not be used for advertising or product endorsement purposes. The opinions expressed herein are subject to change without notice.

Ed TerpeningIndustry Analysted@altimetergroup.com@edterpening

Altimeter provides research and advisory for companies challenged by business disruptions, enabling them to pursue new opportunities and business models.

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