Why Go Virtual?
Every New Zealand business needs a Digital Leader, but many can’t justify hiring for a full-time role. This often means either doing without or trying to get an existing person to juggle their role as well as planning, prioritising and delivering digital transformation, which is not ideal. Why? Because more often than not, the job either doesn’t get done, it gets deferred, or the focus is tactical rather than strategic, so value is compromised.
That’s why we developed a solution that gives you a dedicated digital leader who can work through the business to board level, but on-demand and for just the hours you need - the Virtual CDO (Virtual Chief Digital Officer).
The Virtual CDO is an experienced, independent professional who embeds themselves in your business for between 8 and 24 hours per week (or more if required).
What is a Chief Digital Officer?
A CDO is responsible for unlocking strategic business opportunities using digital channels, products and technologies. Those opportunities could be transformational - surfacing new business models - or incremental - just progressively doing better.
They are strategic executives able to work right across the business with individuals and teams to deliver success. An experienced CDO will be able to grow enterprise value by implementing an executable digital strategy which effectively deploys digital platforms, products and technologies to:
Engage and convert customers anywhere in the world
Outsmart your competition online
Deliver measurable ROI from all activities while building digital knowledge
They are highly experienced digital experts, but also have a track record in galvanising internal and external teams to deliver. The CDO is focussed on building momentum by measuring and optimising all activities.
How do you know it’s time to get a Virtual CDO?
You’re hosing money away on digital activities without seeing attributable business benefit.
You’re launching a product into new markets (eg: offshore) and find you’re suddenly heavily reliant on digital channels to bridge the distance and connect to customers where you don’t have personal networks.
You’ve lost important customers to competition who operate more effectively through digital channels.
You’re losing good team members who want to innovate with digital technologies, but you’re not moving fast enough for them.
You have ambitions for the business and suspect digital technologies, products and channels can help you to get there, but you’re not sure how.
All the digital knowledge is with external digital agencies and you feel they’re not delivering value.
Transitioning to a full-time Chief Digital Officer
Working with a Virtual CDO will give you a good understanding of how the role fits into your business, where to focus digital efforts and at the same time get some points on the board. The Virtual CDO can also help train internal staff who want to move into the role. Once you’ve experienced how the Chief Digital Officer role fits into the business, the Virtual CDO can help you recruit the right full time person or look to transition to full time.
Typical Virtual CDO responsibilities include:
Develop a digital strategy with clearly prioritised activities that are connected to the strategic plan for the business.
Oversee implementation of prioritised activities in the digital strategy.
Get best value from external agencies and resources.
Recommend where to invest, how much and when, in order to deliver ROI.
Measure performance and ROI of all digital initiatives and ensure insights are turned into enterprise value.
Build digital capability across the business, particularly in marketing and sales, customer fulfilment and in the executive team.
Work with the executive team to ensure appropriate resources are allocated to deliver against the objectives.
Monitor and recommend changes to optimise the digital customer journey, ensuring digital channels deliver leads, convert and retain new customers, and sell more product.
Foster and sponsor digital innovation across the company and ensure it is part of the overall business strategy.
Keep up to date with the latest technologies and recommend where they can be used for competitive advantage.
Geoff Devereux, Virtual Chief Digital Officer, more on Linkedin