When we try to define digital transformation, it becomes quickly apparent that the term itself is a vague umbrella term, meaning different things to different businesses. Despite this, there is without doubt, a common theme underlying what is driving the movement towards digital transformation: this being the desire to solve problems in your business operations and enhance customers experiences using technology.
Businesses are prioritizing their focus on digital transformation. According to a recent research poll conducted by M247, digital transformation is the single biggest priority of 2019, and the third most important area of focus for the next 2 years, just below cloud migration and hybrid cloud services. But, with such a large space for interpretation, do you have a clear strategy? In fact, what is a digital transformation strategy? And how can you implement it to best adapt to the changing marketplace? Read on for information, as we take a look at what you need to know about the growing area of digital transformation.
What is a digital transformation strategy?
Some people think a digital transformation strategy means getting your hands on as much technology as possible. Whereas others think that adopting a cloud first strategy means they can put a tick in the digital transformation column. But at the root cause of it, for every organization, is understanding the evolving nature of customer behavior and how businesses can utilize digital technology to achieve greater levels of customer interaction. It’s a simple concept, which can enable you to reach your goals of providing better customer experience.
Of course, digital transformation doesn’t stop there – it doesn’t simply affect your customers. It ripples through your whole business impacting employees, suppliers and stakeholders too. With something that causes such a high level of change, you need a strategy – to ensure your aims are clearly captured and to keep you on track.
Your digital transformation strategy will outline the steps you need to take to in introducing the technology that will improve your processes and customer service and increase your profits successfully.
Why do you need a digital transformation strategy?
In today’s fast-paced ever evolving digital world, having a digital transformation strategy is no longer a nice to have it’s a must. The implications of losing touch with current consumer trends or being unable to offer a digital presence for engagement, means you’ll begin to struggle in a highly competitive market where other businesses are keeping pace with the ever evolving market and modern desire for digital interaction.
The reality of today’s world means that historical standing of your business, and the reputation that has been built over the years, are no longer all you need to keep you in the game. New startups are born into the digital world. Look at Deliveroo, Uber, and Airbnb. They came into our lives as apps with digital transformation ingrained into the fabric of their services and were quickly embraced by society, in turn having developed into huge success stories as a consequence.
There has been a noticeable shift in consumer behavior which favors tech startups like these, but that doesn’t apply to all businesses in all industries. If this does ring true for the area within which your business operates then act on your through by confirming you beliefs through research – if your findings confirm this to be true then allow and encourage your business to adapt accordingly. Afterall you want to make sure you’re implementing your digital transformation strategy in the right way, at the right time, and with the right goals in mind.
What makes a successful digital transformation strategy?
When it comes to your digital transformation strategy, there are several steps you need to undertake to ensure success:
- Change your company’s point of view – Everyone needs to be on board with the digital transformation, including stakeholders, managers, and other employees. These are the people who will live and breathe the changes, and by consequence will impact the success or failure
- Turn your goals into processes, thing about what it is you are wanting to achieve or change and how this can be delivered. – If for example, your goal is to increase sales, you might need to adapt your website with analytical tools that track your customers’ journeys.
- Research is still king and you need to know your customers, possibly with a greater understanding now than ever before. – Consider what makes them visit your site and buy from you? What devices and social media do they use most often? When are they online? This will help you adapt to suit your customer’s needs rather than taking a stab in the dark.
- Choose the right transformation technology – Your digital technology should benefit every aspect of your business, fostering collaboration, efficiency, and productivity.
- Keep moving forward – Digital transformation doesn’t have an end (or at least not at the moment). Ensure you don’t fall foul by thinking once you have implemented it that’s it job done. As the world continues to develop, and customer preferences evolve and change, so too should your business.
We have only scratched the surface here of what digital transformation strategy is and can be. However, what is clear is in today’s continually evolving, digital-centric world every company needs a digital transformation strategy. And without one, you’ll fall behind your competitors. So it’s best to spend time and money investing in the best strategy possible to meet the needs and aims of your business.
M247 is a leader in helping businesses put their digital transformation strategies into action. Whether you need help migration to the cloud or setting up a dedicated leased line, M247 can get you connected.