In fact, according to a report by McKinsey & Company, companies that have a well-defined digital roadmap are 20% more profitable than their competitors. These roadmaps often include milestones, KPIs, and timelines. For example, a retail business might set a milestone to integrate an online shopping feature within six months. By doing so, they could aim to increase online sales by 15% in the first year, aligning with specific KPIs to measure success.
Examples of successful digital roadmaps abound. Take the case of Adobe, which transitioned from selling boxed software to a cloud-based subscription model. With a carefully laid out digital roadmap, Adobe saw a 25% increase in revenue in just two years. It had clear milestones, such as the rollout of Adobe Creative Cloud, and rigorous KPI tracking to ensure they stayed on course. This example demonstrates the power of a well-planned digital roadmap in driving business success.