What is Digital Maturity?
We are ahead of our times, holding mobile phones in our hands, which control most of our life’s activities. Let’s think about an alarm clock for a second. It was a magnificent invention and was physically present with us. Now, our smartphone is a multitasker and gives us a feature same as the physical alarm clock. Here we see the evolution of technology and how we can digitalize the things and progress our life in the future.
This thinking and enthusiasm let us into the world of digitalization with the help of some practical tools and guidelines for transformation are known to be the Digital Maturity Model. It is a framework which leads the roadmap for the future.
We in 2020 are now aware of future technology, the demand for digitalization and of-course COVID-19 pandemic. Yet, somehow people are still unaware of the need and potential that a digital platform can make. People fear change and acceptance of alternative forms which bring hindrance in their business and scope of it.
The digital maturity simplifies the understanding of your business with industry approach and experience and brings to you the most accurate model which can help you ace your business.
How Digital Maturity Model came into existence?
Many businesses, companies have flourished beautifully but are stuck in the offline market. It might have access to the world with its stores, but they limit it. Scaling the firm in a way that the maximum number of customers turn in, it is vital to digitalize for giving access to the products or services to the entire globe.
As we look forward to the year 2021, the offline market or business has seen the rate of growth increase subtly. According to research by Boston Consulting Group (BCG), only 2% of the overall businesses digitalize their company or make the use of technology, which eventually raises their rate of growth and visibility. Even the huge brands have now digitalized their companies to gain worldwide rich experiences and increase their revenue and customer base. After transforming the business into digitalization, BCG saw 30% of cost efficiency savings and up to 20% increase in the revenue.
Why Digital Maturity Model?
There are some barriers to the transformation of the entire business model. Many things are to be kept in mind and select the key areas for digitalization.
The DMM helps in each phase of transformation, establishes significant areas to focus on how to follow all guidelines in the most suitable ways. Along with it, the expectation of the customers is to be understood, and data-driven marketing will help in achieving the aim.
Steps for Achieving Digital Maturity
- Customer
Aims in scaling the business with business consultancy and expertise. To build trust and assure the company with huge digital transformations.
The categories under it are:
First, we have a brief Customer Engagement.
Then acknowledge Customer Experience.
Study Customer Insights & Behaviour.
And finally, gain Customer Trust & Perception.
2) Strategy
To strategize each move to increase its competitive advantage via digital actions.
The categories under it are:
Brand Management, Ecosystem Management, Finance & Investment, Market & Customer, Portfolio, Ideation & Innovation, Stakeholder Management, Strategic Management.
3) Technology
Using the strategy to provide the best technology using cutting edge solutions and create a platform for the future.
The categories under it are:
Applications, Connected Things, Data & Analytics, Delivery Governance, Network Security, Technology Architecture.
4) Operations
Executing the business along with effectiveness and efficiency for maintaining it well.
The categories under it are:
Agile Change Management, Automated Resource Management, Integrated Service Management, Real-time Insights & Analytics, Smart and Adaptive Process Management, Standards & Governance Automation.
5) Organisation & Culture
To support the business and make it possible to achieve their growth and objectives above the expectations.
The categories under it are:
Culture, Leadership & Governance, Organisational Design, Workforce Enablement.
How to measure DM level
There are four levels of maturity by which we can choose the appropriate plan and models to be practised.
1) Nascent
-It is Organisational Centric
-Direct buys and only minimal use of the digital platform for business.
-Mostly using external data and links for sales.
2) Emerging
-It is Channel centric
-Here, some of their own data is being used and utilizes for sales.
-The emerging group is the one who will equip digital maturity model, and if used aptly, it can enhance the business.
3) Connected
-It is Tech centric
-Here, personalization and data integration are with demonstrated link to ROI or sales proxies.
4) Multi-moment
-It is a proper data-driven marketing
-Emphasizes on dynamic execution optimization.
-Custom attribution across all channels gives the best results.
You can measure your Maturity level provided by Google with the link given below:
https://digitalmaturitybenchmark.withgoogle.com/en/advertisers/createsurvey/
