An Essential Digital Transformation Guide
Modern business owners must be driven by innovation, improvements and results – and digital transformation can accelerate a company’s growth. With digital technologies changing the way we use and consume information and technologies, enterprises have no option but to adapt to industry changes or they will be left in the shadow of their forward thinking competitors.
As a digital transformation can determine the success of a business, many people like to use the term digital business transformation, which is more aligned to their goals. Whatever you like to call it, you should know that digital transformation is largely determined by three factors:
- Technological innovation
- Customer behavior
- Environmental factors
Digital transformation is therefore more of a mindset change, over an integration of technologies. It is primarily the development of a company culture, with individuals and teams looking for ways to integrate new and emerging technologies into everyday operations, which will improve customer service, quality control and business revenue.
The Aim of a Digital Transformation
A successful digital transformation creates a more innovative, customer centric enterprise, which offers more agile technologies and a greater level of efficiency. Your goal, should you choose to accept digital transformation into your operations, will be to offer continually optimized processes that welcome both the possibility and future opportunities of different technologies.
Unfortunately, it is believed between 66% to 84% of companies fail with their digital transformation efforts, because they struggle to integrate new digital competencies into their established operations and culture. Many companies make the mistake of narrowing digital transformation down to the customer or client experience, when an enterprise’s end goal should also be dedicated to the stakeholders and business. It is the CEO and management team’s responsibility to connect the dots to ensure the customer, stakeholders and business each benefit from the transformation.
The Transformation Process
When embarking with a digital transformation process, there are certain areas of the company you must consider, such as how technology can improve marketing campaigns, company operations, administration and customer service. One aspect you must consider reviewing is your current business model, considering your value proposition and your go to market approach.
You should also consider dropping traditional services to create a more digital option for the customer. For example, if you currently run a print newsletter, you should consider creating an online edition or email marketing campaign to reach your readers. Social media, mobile technology, cloud systems and big data have and will continue to revolutionize the modern market, which may grow or be outperformed by new technologies in years to come, and your ability to adapt to those changes will determine your company’s success.
Digital transformation is more than an overused buzzword. It isn’t even about the changes in technology. Digital transformation is about adapting to the customers’ needs, as well as the needs of a business and its stakeholders. So, if you want your business to stand the test of time, you must take the time to consistently adapt to the technologies, because they will not wait for you to catch up, and neither will the customer. Consult bizagi.com to kick start your company’s digital transformation.