Even before your organization starts to invest in digital, it needs to assess where it falls in the digital spectrum. This is an important step in digital strategy. As a starting point for your organization’s digital journey, see where you place on the digital maturity scale:
1. Do or Die – Competition or disruption has already squashed the industry, organization, or product. This is a “do or die” situation for the company to reinvent its business model.
2. Fight and survive – The business is not in imminent danger, but it is very clear that the business needs to be transformed and there is pressure from various constituents (board, shareholders) for change.
3. Protect the Fort – Business has some competitive advantage that will take years to disrupt, but the possibility of digital disruption remains. Organizations have a sense of security and may even be complacent.
4. Land/Expand – These are visionary companies that see opportunities in their industry to build or acquire and add value to customers and increase their market share.
5. Disrupt/Build and Thrive – These are businesses that go after major problems in industries and disrupt the market. Typically, these are digital natives (i.e. built with digital vision).
Honestly evaluating your enterprise’s current digital maturity will serve as the starting point for your digital strategy. The next step will be to define where you want to be on the digital maturity scale in the future and how you can get there.