Digital Transformation: Closing Gaps Between Growth And Business
Thursday January 16, 2020,
5 min Read
“In a chronically leaking boat, energy devoted to changing vessels is more productive than energy devoted to patching leaks.”
Warren Buffett, Chairman, and CEO of Berkshire Hathaway
These wise words represent the current status of businesses and enterprises worldwide. Majority of the businesses have witnessed how digital transformation became a need to survive in this digital-first world. Starting from small business owner to giant enterprises, every brand is continuing to pursue a digital journey to gain competitive advantage.
But, digital transformation is not only about shifting your business process from manual to digital. It’s a broad term that includes constant improvement, clear vision, adaptability, and customer-first approach.
Transformation doesn’t happen with only technologies; it requires people, process, and purpose.
Each organization is having a different set of objectives to be accomplished. And that’s the reason why every organization requires a clear and tailored digital transformation strategy to reap the benefits of it.
How To Design Digital Transformation Strategy That Drives Growth?
According to Smart Insights, 34% of companies have already undergone a digital transformation.
44% of companies have moved to a digital-first approach for customer experience according to IDG.
Here are some insights that can help you shape the digital transformation strategy for your organization:
Customer satisfaction is the ultimate goal
Customers are given more importance than ever.
The key to any successful business is a satisfied customer. In this highly competitive market, serving your customers requires sincere efforts as your customer demand innovation and superior experiences regardless of the business type.
You need to be where your customers are. Digital transformation has blurred the line of offline and online by connecting every aspect of the business such as marketing, delivering, setting up, and so on. Personalized customer experience, omnichannel presence, superior user experience, strong social media presence, and constant analysis of customers’ needs – these all factors will surely help you win the digital game.
Change is the only constant.
Frequently, we hear a lot about the newest technologies and trends or complete makeover of old technologies. Concepts and ideas are being presented in digital form and getting wider attention from industrialists, leaders, professionals, business owners, and tech world.
In order to create a roadmap to digital transformation, embracing change is the key. Digital transformation requires a strategic approach by looking after the ever-changing market and adapting those changes.
To meet the speed of changes in technology, the organization must possess the right set of resources, infrastructure, and visionary leadership.
Clear vision gets everything right
Majority of the organization don’t have a clear vision for digital transformation and that’s one of the key reason they fail.
Whether you are starting from scratch or revamping existing model, you need to have a clear set of objectives. What is the end result and how you will achieve that – require your crucial attention before you start moving towards actual implementation.
Empower everyone in an organization
Digital transformation starts with people, not technology.
Every department of an enterprise should collaborate and share a common vision to transform their core processes. Poor employee engagement and digital illiteracy are often lead to failure. To overcome that, the organization should define accountability and leadership that can build a stronger connection between business and IT processes.
Put emphasis on design experience
What your customers prefer? How they use your services/product? Are they satisfied with what you deliver?
These are important aspects of a digital transformation strategy.
To fulfill customers’ requirements, you need to closely analyze them and deliver the best possible experience. According to one research, more than 90% of business leaders believe that the success of a business depends on users’ digital experience.
Customer engagement and employee engagement are equally important for the organization. Moreover, you need to pay attention to the experiences you are delivering to your end users and look after the improvement.
Constant analysis and incremental growth play an important role
Digital transformation is never ending process.
It is a continuous process. You need to incorporate what’s most needed and eliminate the unnecessary.
Digital transformation is all about continuously meeting customers’ demand by adopting changes, strengthening customer interaction, delivering a superior experience, and providing value-driven solutions.
By using the latest tools, an organization can analyze customers’ behavior and optimize their business strategies according to their needs. Needless to say, every organization has a different set of objectives to look after and therefore, every organization has its own transformation strategy and speed of changes.
The purpose of digital transformation is different for the small vendor while large enterprise must keep consistency factor intact to bring uniformity across every channel.
In a nutshell, change is required and continuous measurement and improvement can shape the foundation for successful digital transformation.
Digital Transformation Is All About Delivering Value In Customer-Driven Way
There are many success stories of digital transformation and many are struggling to embark on the right path.
It requires several factors like vision, leadership, strategy, and adaptability to change how the business delivers. It is on-going, customer-driven, and digital-first process to do business in a modern way.
- Aforementioned tips can help you form the right digital transformation strategy that drives growth
- Digital transformation is putting your customers first
- It is about how you balance employee engagement and customer expectations at the same time
- It is about people, process, and purpose
- It is about continuous enhancement
Are you ready to embark on the digital transformation journey?