Digital Transformation is not just about business advantage, it is ultimately a survival imperative.
In today’s digitally disrupted world, there is a continuous push for organisations to “go digital” and to do so rapidly. This is not just about preserving business advantage - it is ultimately a survival imperative.
The digital revolution has driven rapid automation of previously manual business processes and a major shift in consumer expectations. Going digital means adopting an effective business strategy that is digital-first, omni-channel and considers the evolving business environment and customer expectations. Your digital strategy must help you maximise disruptive technology benefits, optimise experiences for employees and customers, and engineer the digital services and platforms that will underpin the success of your business in a digitally transformed world.
In response, digital agencies and consultancies have developed approaches to support the digital transformation imperative. It’s clear that there is no ‘one-size-fits-all’ solution. What’s more, it requires serious effort and commitment.
The transformation spectrum is wide, ranging from the creation of pure-play digital disruptors like Uber, Spotify or Netflix to established companies that have embraced digital as an extension to their existing business model such as Lego Group who have entered the movie industry to support their digital strategy.
Achieve Digital Transformation
Regardless of the digital journey you choose, to achieve transformation and realise the opportunities ahead, the following points are worth regularly re-visiting:
Be clear on the overall objective of digital transformation for your business
Clear objectives and priorities are essential. This can be challenging considering what may be a number of competing business requirements and consumer demands. You must define your digital vision and get sponsorship right from the top. The rationale must then be understood throughout the business.
Remember to cater for different types of customers
Digital solutions aim to deepen customer engagement, as well as improve the products and services you offer. Not only have customer behaviours changed tremendously in recent years – there are now entirely new types of customers that need focus. Meeting evolving customer needs starts with understanding your data about their behaviours and motivations.
Re-evaluate the competition
Challenger organisations are constantly emerging and with them comes the need to reassess your competition to understand what and who you’re up against. It’s an age of ‘adapt or die’, and with this comes the need to evolve existing business models to make them fit for the future. This can be a big adjustment which may lead to existing routes to market or products being closed down, whilst new routes open to completely new market segments.
Give agility and innovation room to thrive
The myth of “too big to fail” has been debunked. Regardless of your size, you will need to embrace innovation and become more agile – either to escape legacy infrastructure or to stand out against a wide array of small competitors.
Bake transformation into your culture
Driving the digital agenda within an organisation is about driving a cultural shift. Everyone needs to be brought on-board to make this happen. Getting there can be tricky, but it’s not impossible.
Iterate and adapt for success
While your strategic goals may remain stable (at least for a time), the methods for reaching these goals needs to adapt and evolve as your organisation progresses on its digital maturity journey.
Be prepared for change and failure
The road to digital requires sacrifices, whether it’s reskilling staff whose roles have become obsolete or abandoning what seemed to be a good idea which just doesn’t work out. You need to plot a path for change, not just agree upon the final destination.
Don’t rest on your laurels
The markets you operate in change every day, bringing new business requirements. Going digital is about reaching digital maturity and continuing to stay on top. It takes a mind-set shift to embrace, promote and support a continuous innovation journey within your organisation.
You may feel you stumble upon roadblocks that hinder your digital transformation journey. However, with the right focus, you can turn those into traffic lights; sensible checkpoints that keep your transformation flowing – preventing accidents and jams along the way!