In the fifth post in this series, we described how to put your digital strategy into action and motivate your team for maximum success. Here, we take a look at best practices for tracking performance, implementing digital tools, managing data and scaling your newly minted digital business.
One of the biggest roles your leaders will play in the digital transformation is determining the metrics for measuring success. Selecting the right objectives and results to measure will help focus your organization on change and catapult performance. Technology is critical here because it can provide the necessary data for removing roadblocks and making smart decisions as your digital game plan evolves. Here are the key steps:
1. Add digital to your scorecard.
Adopt a single report that integrates both broadcast and digital metrics and defines the objectives and key results (OKRs) that will drive revenues for both. Objectives should be ambitious, qualitative, time-bound and actionable. Results should be measurable, quantifiable and difficult, but not impossible, to achieve. To establish OKRs, list three objectives to strive for on company, team and personal levels, and then list three to four key results to be achieved under each objective.
2. Make performance visible.
Technology is your best tool for showcasing real-time performance, and it is now easier than ever to track metrics such as KPIs and OKRs in real time. With time and investment, you can develop a sophisticated, real-time scorecard that automatically pulls data from multiple sources. You can also set up more basic reports using tools like Excel and Google Sheets to transform company results into shareable visual dashboards.
3. Host regular debriefing meetings.
Your team members will have things to learn from every proposal, presentation and campaign they deliver. Feedback meetings will help them identify and solve problems and will provide an opportunity to share suggestions on areas for improvement as they experience new products and workflows. An organization can turn both good and bad experiences into teaching moments, not only for the affected employees but for the whole team.
4. Hold employees accountable.
Accountability in the workplace means all employees are responsible for their actions, behaviors, performance and decisions. Greater accountability boosts employee morale and commitment, which leads to higher performance. Here are five steps leaders can take to build a culture of accountability:
- Hold themselves accountable as leaders.
- Develop feedback skills.
- Address accountability issues when they happen.
- Keep track of employee commitments.
- Coach their managers to practice the previous four steps.
5. Celebrate success.
“Success breeds success;” therefore, it’s important to make a tradition out of celebrating performance and behavior. Successful people know the effort, discipline and strength it takes to succeed, and they also know that celebrating an accomplishment is just as important as the work it took to get there.
6. Meet challenges head-on.
Building a real-time performance dashboard that organizes multiple data sources might seem intimidating, but it does not require high-level technology development skills — just lots of coordination between finance and sales teams and a tech-savvy employee who can manage the dashboard technology.
Another challenge is to create a culture receptive to feedback, especially in a medium that has not changed significantly over the last 50 years. Your legacy teams may not be used to constructive feedback on using new processes. You can help them be more receptive by demonstrating the organizational improvements to be made from feedback meetings. Also, it is important to be as transparent as possible with performance data to nurture a culture of action within your organization.
Digital Transformation Playbook
At Marketron, we’re ready to help your broadcast organization get started on a digital transformation that will yield powerful new revenue opportunities. Here is a great starting place for you to assemble the best tools and practices needed for a successful digital advertising program.
Check out the Digital Transformation Playbook, an exclusive e-book offering a detailed step-by-step guide for broadcasters to grow digital advertising revenue.
Radio’s Digital Transformation Webinar Series – Part 6
Watch the on-demand webinar for Part 6 of the Radio’s Digital Transformation series, where we’ll review how to add digital to scorecards, the importance of making performance visible and how to hold employees accountable in the new environment.