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Defining a Clear Long Term Strategy (North Star Experience) minimises waste and ensures that Your Entire Organisation is pushing in the same direction.
If your Organisation is constantly reviewing and updating the Plan/Strategy, you have no way of ever delivering against it (because your destination keeps changing)
Also Ensuring that your Entire Organisation is Clear that Retail has a bright future (within your Overall Strategy) will ensure that the necessary resources are continually assigned and maintained to deliver against this North Star.
What is the ‘Current’ versus ‘Future Purpose of Retail’ within your Existing Strategy?
Is this likely to Change based on the latest Tech/Digital Innovations?
How are Your Competitors Using Retail?
Are you aware of Your Competitors Ambitions within their Retail Channel in the Future?
Objective: Understanding & Clearly Defining the Purpose of Retail & using this to Define the North Star Experience
How Aligned are Your Teams currently when it comes to your Future Retail CX/EX?
Is everyone on the same page?
Ask Around, You may be surprise by how different some of their responses are…
Once you’ve set Your North Star. The steps to get there will be far clearer. Prioritising Initiatives should be weighted against the Benefits Delivered to Your organisation. They should also be scored against their Strategic Impact (i.e. steps towards Your North Star).
The Other Key factor to consider is your Organisation’s ability to deliver the Initiatives. Do you have the Resources and Internal Capability that will allow you to deliver the selected short/medium Term Initiatives.
Leverage Key Insights & Data to identify the Key Moments of Truth around when Customers are visiting a Retail Store.
For Example:
Prioritise Focus Area and Identify Initiatives that will get us closer to delivering against the North Star Experience
Run Discovery, Identify (Current, Planned & Priority) Initiatives that will impact a Visitor's Future Retail Experience.
Define the Ideal State & Create a North Star (end-to-end) Experience that becomes the Guiding Light for your Organisation.
Understand the Organisation's ability to deliver against each of the defined Initiatives.
Prioritise them based on their Benefits and Organisation's ability to execute.
Finalise the Initiative Roadmap and ensure relevant Budgets are assigned to support their delivery.
Outline all dependencies against each Initiatives and feed these into Organisation's Prioritised Back-log
