What a Chief Digital Officer must do in a post-COVID-2019 world? #6

Predicting the future is not easy, your reputation is at stake.

However, we live in a disruptive world where predicting the next 5 years of business strategy, is a question of survival.

When COVID-2019, happened the future became the present. Right now the world is busy recovering, but we do realize that COVID has preponed digital acceleration by at least a decade.

The clients are no longer asking ‘Why Digital Transformation?’ They are asking “How and When”. Billions have been lost in unpreparedness when it comes to automation, platform, and Omnichannel strategy.

Chief Digital role has become even more critical in the CXO corridors.

Here is a checklist that a Chief Digital Offer (CDO) must carry:

Define clearly what digital transfromation means for your industry, business and customers?

Develop a 3,5,10 year vision for Digital Transformation in your business?

Identify the best in class examples of disruption within and outside your industry.

If you are already the incumbent and the disruptor- then keep a track of what FAMGAT (Facebook, Apple, Microsoft, Google, Amazon, Tesla) and the BAT TMD (Baidu, Alibaba, Tencent, TouTio (ByteDance), Meituan, Didi) are developing and launching

Keep a track of start-up ecosystems and disruptive technologies getting funded by the VC world ( 80% of unicorns will die, but 20% will change the world)

Know what you must build, what you must buy and what you must get through a partnership

Build multi-industry and multi-geography partners- to get access to local innovation, new markets

Think Ecosystems — The future belongs to companies that are industryless. You cannot track how many industries the Big Tech (FAMGA, BAT TMD) will disrupt

Omnichannel and Platforms- Make sure your sales is not dependent on only single channel- diversify your go to market playbook.

The customer should be able to buy your products/services across multiple channels and in a very convenient manner.

B2C customers are convenience loving- and they want to buy everything through the press of a button or voice. B2B project delivery must also be integrated and complete. Build a business that is a one-stop solution.

Last but not the least remember till AI becomes mature, and automation becomes fully autonomous-

You will need Digital First Culture and Talent

Hire the best digital talent, reskill your current workforce. Culture eats transformation and strategy for breakfast.

Regards,

Sidhartha Sharma

Digital Strategy Leader