There is no start or finish date
A big challenge for a Digital Transformation project is there is no clear start and finish. Ever since your organisation had a website you have been marketing digitally. It is not as if your marketing department is an analogue caterpillar that will suddenly transform itself into a digital butterfly.
Roeland van der Heiden, of AstraZeneca says “It is a continuous process, there is no one-off thinking. It’s not a project that will ever stop… ”
How do you measure progress?
So, if there is no start and no end, how do you measure progress, how do you do the SMART thing and set goals? A good place to start is the business imperatives and KPI’s. But which KPI’s you ask. We have found these to be useful:
- % of marketing generated sales pipeline – this tends to be the main number CMO’s are measured on
- Customer Acquisition Cost
- % of pipeline created by inbound marketing
- % of digitally engaged customers
Create an initiative for the next 12 months
O2 Business started their digital Transformation project in 2013 and break their progress down into annual initiatives:
2013 – Implement technology; SFDC, Eloqua & data warehouse
2014 – Activate Online and social channels
2015 – Launch Direct Comms Programmes
2016 – Create “Always On” media channels and automated customer journeys
It is very difficult to plan too far ahead in a digital transformation project because the technology is evolving so quickly that your plans will inevitably change.
The key is to break everything down into finite measureable projects with specific KPI’s. These should not last more than a year and milestones should be recognised and celebrated to keep everyone motivated. Ideally you want each project to have an effect on the big KPI’s . In other words each project should have a measurable effect on the % of marketing generated pipeline and the Customer Acquisition Cost.
In our eBook The 5 Biggest Challenges for the Digital Transformation of Tech Sector Marketing we will go through each challenge in detail, explaining why they are so troublesome, and giving you tips on how you can overcome them. We can’t make Digital Transformation simple for you, but we can make it achievable.