Executives expect digital to drive their business growth, despite investing less than 5% of their total spend
McKinsey has released a new report measuring C level executives views on the future of digital for their organisations. Having just sent my book Attracting Donors Online to the printers this week, I was well chuffed to see many of my views supported by this report.
In the book I outline the areas I believe non-profit organisations need to embrace if they are going to see financial success online. Some of these areas are:
- Supporter/ customer engagement via digital channels (69% of C level executives agree this is one of their top 3 priorities)
- Automation of systems and processes for efficiency and to meet the customers expectations (only 34% of executives have automation as a top 3 priority)
- Focus on the customer life-cycle or for non-profits the donor journey and utilising digital communication channels to facilitate the communications with, acquire, onboard and build a relationship with and upgrade the financial commitment of these customers and supporters faster (I was disappointed to see only 40% of C level executives believe this is a top 3 priority)
- Invest in tracking and reporting of digital channels to measure success and ROI against offline channels (only 4% of companies could confidently report high returns from digital programs. 40% of executives acknowledge that there is no accountability at all for digital programs against targets) – BUT when it came to investment focus and talent recruitment for the next 3 years, executives say that Analytics and Big Data will become a primary focus
- If digital is going to become a business priority, you need to “get your board, on board” – which this survey confirms as 2014 reports 69% of CEO’s either sponsoring or directly involved in digital initiatives for their company. 41% went so far as to say that they are responsible for the Digital Agenda for their company
- That mobile is the key. We all use our mobile to access emails, to buy things, to engage with friends and businesses alike. I’ve been shouting from the rooftops for a few years now that organisations need to make mobile the centre of their digital strategy and it seems the execs do agree as they have listed hiring talent with mobile skills as their #2 recruitment priority.