The aim is to assess the current business state by identifying favorable internal and external factors. Based on this, take action in areas where there are gaps or flaws.
Frameworks like SWOT, STEEP, or STEEPLE analysis can be used to measure these internal and external factors.
SWOT: It evaluates any business, project, or transformation efforts based on their Strengths, Weaknesses, Opportunities, and Threats. It helps identify the digital capabilities of the organization. Even though it helps you analyze both internal and external factors, it is predominantly used to identify internal capabilities.
STEEP: With STEEP analysis, you can measure political, social, economical, environmental, and technological factors. It goes beyond SWOT analysis and gives an in-depth understanding of the current state of your digital capabilities. STEEP is one of the best methods to analyze external factors.
STEEPLE: It is just like STEEP but with added capabilities as it considers the legal and ethical factors which help you even identify cultural and compliance gaps within the organization. You can include these factors in your roadmap to improve the organization’s culture along with its digital capabilities. STEEPLE can be a bit tedious when compared to STEEP and SWOT methods.
Now that you know all the possible gaps and flaws of the company. It is time to create a strategy that aligns with your business aspirations and goals. Once this part is sorted out, you can go ahead and set an implementation plan.
Let’s say you are a retail business that has both offline and online stores. You want to understand customers better and enhance their experience across all platforms. To achieve this, you have to enhance your online capabilities to identify what they want whenever they interact with your brand.
You start investing in tools and resources which can map the user’s journey across all platforms and collect crucial data which can tell more about their preferences and behavior.
Based on this data, you can suggest them better deals through both online and offline stores which will enhance their experience with your brand. This way you can achieve your goal of enhancing customer experience using digital means.