Chief Digital Officer: The Role Leading Companies Through The Pandemic
If companies weren’t deeply dependent on their digital solutions before, they are now. More and more companies are racing to add a Chief Digital Officer (CDO) to their leadership team. These leaders are being tasked with accelerating digital transformation and creating sustainable competitiveness through digital products and experiences. And so while the role of Chief Digital Officer isn’t new, its increased importance and demand is.
At Ari Agency, we help business identify the leaders they need to tackle future opportunities, challenges and blind spots. We’ve spent over a decade finding the executives that lead transformation and accelerate the growth. Below are the key responsibilities and skillsets that we’ve found Chief Digital Officers must have.
Key Responsibilities
TRANSFORMATION & PRIORITIZATION
Disruption has become part of our every day. And for CDO’s, it’s part of the job description. Companies must become comfortable with constant re-invention in order compete. Leadership teams and operations are being rebuilt to prioritize agility so that businesses can respond quickly to changes in consumer behaviour, competition, technology, and regulations. Chief Digital Officers are at the heart this.
With so many emerging initiatives being digitally driven, it’s takes a leader experienced in transformation and innovation to know which initiatives need to be highest on the to-do list. Change management has been a constant pain point for organizations - particularly large corporations. And the stiff hierarchies and traditional mindsets of many executives and board directors did not bode well during these challenging times. In fact, many C-Suites and boards need re-invention. While that remains a to-do itself, CDOs must be exceptional communicators and influencers, generating buy-in and breaking down barriers from their fellow executives to push transformation forward.
CHAMPION THE CUSTOMER
Although companies still use the word “digital experience”, ultimately its the customer experience. Purchase journeys have become dominantly, and in some cases entirely, digital. Consumers are magnetized to innovations that drive convenience and unique experiences. Everything from marketing, to user experience, to backend operations is being improved by new technology and increasing volumes of data.
Chief Digital Officers are not only instrumental at enhancing existing ways of doing things; their success relies heavily on imagining completely new ways of providing value to customers. A great CDO consistently pursues customer feedback, employee input and data to inspire new ideas and continuous evolutions.
MAKING DATA THE NEW COMPASS
All things digital can be measured. The goal of digital innovation and transformation is to create value, improve efficiencies and develop competitive advantages. An excellent CDO works to increase the level of data literacy and data-driven decision making across departments, aligning the organization to measurable results. They lead by example and work closely with Chief Data Officers and Chief Information officers to equip the company with the technology and talent needed to harness the power of their data.
Skill Sets
THE INFLUENCE FACTOR
CDOs are key change leaders - and change relies on the cooperation, collaboration and motivation of others. Chief Digital Officers are constantly explaining the ROI and data behind new ideas and complex concepts in order create alignment across leaders and departments. Even a brilliant visionary will have a hard time moving the needle in this role without the ability to influence others.
CREATIVE PROBLEM SOLVER
Much of the disruption re-shaping industries and consumer behaviour is digital. CDOs have to be expert problem solvers to quickly respond to new threats and opportunities alike. Their ability to see the opportunity where others see challenges can be the game-changing factor that enables companies to leapfrog competitors and creates new revenue streams.
TECHNICAL EXPERIENCE
CDOs are architects of new processes, products, and innovations. Previously, digital managers and strategists reported to CEOs or COOs who likely did not possess the skills needed to understand and prioritize digital strategy. CDOs are mesaured by their ability to drive ROI from digital outcomes. They require a background that includes technical experience so they can not only prioritize and intimately understand the challenges in their initiatives, but they can also develop and retain their top digital talent.
CHANGE AGENT
Chief Digital Officers are all about instigating change, re-invention, and iterations through new technology, talent and data. They require disruptive mindsets and the ability to evangelize change throughout the company. It’s not difficult to find individuals who are innovative. It is significantly harder to find leaders who can mobilize, organize and motivate others to be just as innovative and disruptive. When looking for a CDO, its more important to see how they drove transformation throughout their organizations from the top down than it is to see how they moved the needle at an individual level.
In many cases, CDOs will be overseeing the fastest growing revenue streams and departments of your organization. The importance of finding the right person for a Chief Digital Officer role cannot be overstated, especially in today’s environment.
Our team specializes in finding digital and transformational executives for high growth, innovative companies. Contact us today for a consultation and see how we find the leaders you need for the future.
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