Three Important Statistics on the State of Digital Strategy in 2014
The results of Forrester’s State of Digital Business 2014 survey are in. Although 74% of business have a digital strategy, execution remains a major concern. CEOs within mid-large sized businesses are also failing to assess the digital threat/opportunity and create a compelling digital vision.
Here are my three takeaways:
1. 74% of Executives have a Digital Strategy

Ownership of the Digital Strategy is another key question for me. Is it owned by Marketing, IT or the CEO? This is a crucial difference in scope of the strategy and ability to execute.
This disconnection between IT and marketing is creating what Forrester refer to as a “digital strategy execution crisis”. Breaking down the connection is something I wrote about recently in Improving the Customer Experience by Breaking Down Silos.
2. Only 15% of Executives believe they can deliver the Digital Strategy

3. In mid-large sized firms, just 17-21% of CEOs have a clear Digital Vision

In this finding, Forrester are referring to a digital vision that permeates the entire organisation rather than simply bolting on digital components to the business. This “bolt-on” execution of digital is creating further distance between marketing and IT. I wholeheartedly agree with Nigel Fenwick (the report’s author) that this bolting-on of digital components will not be enough in 2015 and beyond. Integration is the key.
Certainly digital has seriously disrupted (in the word’s truest sense) industries and businesses. KickStarter has shaken up investing in the arts and new technology. Zopa has shaken the lending markets. Amazon has literally decimated high streets. EdX and Coursera are beginning to shake up education.
In my view CEOs need to recognise the digital threat, measure the digital opportunity and create a winning digital vision (or strategy or plan) that is fit for purpose.
Further reading:
Source: Forrester: State of Digital 2014