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Digital roadmap ecommerce
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July 30, 2020

Building a Digital Strategy Roadmap: Goal Setting

Georgia Barry
Georgia Barry
Consultant (Strategy)
Digital roadmap ecommerce

In this article, we'll explain the first roadmap phase which is identifying your digital goals. This process begins with identifying the business’ goals. Oftentimes, these are already in place and will relate to revenue or market share targets. The key part is understanding which digital areas and activities will support achieving these business targets.

In larger teams a democratic approach is recommended, whereby broader IT, marketing and eCommerce teams can all contribute towards thinking about the future, and then setting appropriate goals to get there. This begins with imagining the celebration of having achieved your biggest goal. In this exercise, all team members think about what you all did to achieve this goal. A simple voting process and grouping of findings can produce some clear patterns and ideas on where to start with goal setting.

Goals should follow the simple rules of being SMART:

Specific, Measurable, Achievable, Realistic and Time bound.

Goals should clearly state the baseline/current state, the future objective, and by when you will achieve this.

We often look at goals from a short, mid and long term perspective.

Examples:
Short term goal (Quarterly):

  • Grow customer base from 20,000 in Q1 to 22,000 in Q2
  • Increase B2B revenue contribution to total revenue, from 30% in June 2020 to 50% in June 2021
  • Successfully launch new eCommerce platform on time and on budget
  • Grow ‘own brand’ product mix from 25% contribution to 50% by 2023
  • Introduce product customisations on site for customers to personalise products

Mid Term Goal (Annual)

  • Increase B2B revenue contribution to total revenue, from 30% in June 2020 to 50% in June 2021
  • Successfully launch new eCommerce platform on time and on budget

Long Term Goal (2-5 year)

  • Grow ‘own brand’ product mix from 25% contribution to 50% by 2023
  • Introduce product customisations on site for customers to personalise products

There's no rule to how many goals you can have, but ensure that there aren’t too few that the strategy becomes vague, and also not too many that individuals start to lose focus on the really important goals. Once your short mid and long term goals are defined, make sure they are shared openly, and kept visible.

Goal setting is also about defining the process, communication and ways of working that will ultimately facilitate success and growth. At Vaimo, we work hard to serve each and every client's individual needs. We review goals with our clients on a quarterly basis and monitor progress to identify when and what areas need attention.

If you need inspiration on how to set goals, you might get some inspiration from the McKinsey’s framework for digital transformation.

If you are looking for a tool to use for your digital transformation roadmap strategy, you might find some templates here.

In the next article in our Building a Digital Strategy Roadmap series, we'll cover how to identify the key performance indicators that drive digital commerce success for your business. Stay tuned…..

Digital roadmap introduction-min