Elements and Performance Criteria
- Determine digital readiness of the business
- Review current digital assets, and internal capacity and capability to pursue digital opportunities
- 1.2 Analyse the target market's needs and preferences as they apply to digital technologies and business goals
- 1.3 Research and analyse competitors' use of digital technologies
- Identify potential opportunities and challenges associated with the use of digital technologies, including legislative and regulatory requirements
- Investigate digital tools and services to meet business needs
- Research key components of a digital strategy
- Identify potential digital tools, platforms and channels and associated costs, benefits and return on investment
- Identify specialist advisors and associated costs, and seek assistance where required
- Consider how the proposed digital initiatives will integrate with or replace non-digital business tools
- Develop a digital plan aligned with business goals
- Evaluate identified opportunities and select digital initiatives that best align with the business vision and plan
- Determine the prioritised actions, timeframes, people and resources required to implement the digital initiatives
- Identify the key metrics to be monitored
- Determine the review interval for the action plan and process for incorporating innovations
- Document the action plan in a suitable format for the business