Digital Strategy: How to Cross the Execution Chasm
Digital Strategy Dictates Success
Companies that implement good digital strategies that are customised for their strengths and weaknesses succeed 80% of the time. Learn what they do differently so you can succeed.
Why your firm has a digital strategy execution chasm:
Low digital skills
From the C-Suite down. 75% of CEOs and 87.5% of CFOs are not "digitally proficient". If that sounds like your leadership then your digital strategy will suffer.
Lack of oversight
Is your Board digitally savvy? 76% of Boards lack the digital skills to succeed in 2022. Board members can't oversee what they don't understand.
Was your last transformation driven by the business, or did IT take the reins? AI, IoT, and Cloud computing might be "cool", but do they add any business value?
If you're like 56% of CEOs, you don't trust the data used to make big decisions. Digital transformations rely on great data, but digital transformations overlook this critical component.
No business value
Did you get value from your last digital transformation? Only 20% of firms unlock business value, because they failed to tightly link business and technology strategies together.
Lack of time
If your hand was forced by the Pandemic, you had to react quickly to deliver digital-first engagements for customers and employees. Take time to get your digital strategy back on track.
How we fix this
Increase digital skills
We will upgrade your data and digital skills with world-class training.
Unlock your latent talent
Get the full potential from your C-Suite and Board so they can effectively govern.
Business strategy alignment
We ensure your digital strategy supports your business strategy
Drive business performance
Let's focus only on digital initiatives that deliver value.
We'll identify the digital friction that destroys value and eliminate it.
Retain more customers
By removing digital friction from your customer experience, we make it easier for your customers to give you money.
Clear problem identification
We laser in on the real problem your business faces, and fix that.
Plug the success gaps
Fixing 20% of your biggest problems gives you 80% of your required value. We'll help you find and fix these problems.
Link actions and outcomes
We create a clear path showing what to do, when to do it, and what you'll get at the end.
We'll identify your strategic advantages and leverage them against your biggest opportunities.
Digital Strategy Playbook
We give you a digital strategy playbook so you know exactly what to do next.
Unlock maximum value
Immediately drive out digital cost and waste and drive up revenues with this execution plan.
Our happy customers:
What others are saying:
Why we're different
We give you a practical playbook, not boring theory
Bulge bracket strategy consultants are great at blue-sky thinking.
We're great at delivering a strategy you can actually implement.
We put the business in the driving seat
Digital strategies need to improve customer experience, boost employee engagement, cut costs and risk.
The business has to drive this and we're here to help.
Quick delivery and time-to-value
Digital strategy planning does not need to take months.
We'll bring the right people together and deliver quick results.
Simple to understand and apply
The real digital strategy gap is between the C-Suite and the "D-Suite" - the doers in your firm.
We'll help you bridge this gap.
Online access to Cognopia Academy Courses will be provided. Customers will learn where data drives enterprise value, and how to effectively build a data strategy that will underpin your digital strategy.
The kick-off workshop will then deepen this training and make it bespoke for your executive team.
Many digital strategies fail because the organisation is not mature enough to adopt them. We baseline your data maturity today so we can recommend actions that you’re able to get value from.
Digital Literacy measures the current capability of your senior leadership and ground staff when it comes to leveraging digital opportunities.
Companies with three or more digitally savvy directors on their boards reported 17% higher profit margins and 38% higher revenue growth than those with two or fewer directors.
If we identify a need to increase your digital skills we will also identify opportunities to drive up revenues and profits.
We energise, excite and engage your Senior Leadership team in the opportunities they can expect from a Digital Strategy, and use this to uncover areas of weakness to imprve or areas of strentgth that can be used to extend your competitive advantage.
These form the basis of our Data Focus Area recommendations.
We will work through your Business Model using the Business Model Canvas.
This clearly depicts the major Customers, Value Propositions, Channels and Relationships through which you generate revenues.
It also documents the Activities, Assets and Partnerships you use to create the value proposition and the cost structures.
With an accurate Business Model Canvas we can quickly identify the Data Focus Areas that will create maximum leverage for your Digital Strategy.
Building on the Business Model Workshop, we now begin to identify critical business strategic objectives that will define and guide our work.
A Digital Strategy will fail unless it is supporting a real, known business strategy. We will set this alignment up so you can succeed.
Each digital interaction creates or consumes data to power it. Digital strategies need to focus on the data flowing through their landscape as this drives corporate performance.
We will tailor your digital strategy to improve and leverage your data assets – for example improving customer experience through data and digital improvements.
The data focus areas identify opportunities to increase revenues, decrease costs and risk, and improve free cash flow for your business.
Cognopia is a pioneer in the use of Decision Intelligence to drive digital strategy modelling. Once we have idenfitied the strategic problem or opportunity we will:
- Define the constraints within which our strategy operates
- Agree upon the strategic objectives and outcomes
- Define measurable goals that tell us when the strategy has succeeded
- Identify actions and levers we can use to achieve these goals
- Link together actions to see beyond the short term and prioritise our strategic action plan
- Identify areas where technology can drive performance, and where it is not necessary today
We bring together Senior Leaders and the “D-Suite” or “doers” in your firm, ensuring all enterprise knowledge is embedded in the strategy. This drives up engagement and makes the team feel a sense of ownership over their strategy.
The output is a decision model that shows all staff what to do, when to do it, how to know it’s working, and how to fix things that are broken.
We aim to deliver the Data Strategy Accelerator inside one month. The exact timing depends on the availability of your team and the speed with which you can turn around our information requests.
We have successfully delivered remote and in person sessions. We suggest that this will be delivered remotely, as any face-to-face sessions need advance planning and will cost more money. Please get in touch to discuss your options.