“Digital transformation isn’t about tech for tech’s sake – it’s about using technology to achieve business goals.” – Teresa Torres
Do you know? 87% of organizations claim to have profitable results after implementing digitization in business. Indeed this digitization has proved to be a boon for businesses.
With the immediate business shut down in the pandemic, we were restricted to go out and earn. The only savior during this period was an online business. Many businesses have shifted their business to online and made new ways of earning.
But developing and implementing new digital strategies always seem like an overwhelming task in the beginning. It always needs expert assistance because being a novice, we always tend to make mistakes on this note.
With this blog, we’ll look at how to kick-start digital transformation in the industry with a step-by-step guide to help you reach these goals. So, let’s get started.
1). Define a Clear Mission
Define your digital transformation objectives and how you plan to achieve them. Have clear metrics that show your success. For example, increasing online sales 10% over the next two years is more precise than optimizing our website for mobile engagement. Metrics can be anything from revenue increases to user engagement levels – they will help keep you on track throughout your digital transformation process.
An excellent way to start thinking about quantifiable digital transformation goals is identifying who (segments), what (content), when (timeframes), and why (business justification) will move an organization forward. Identify key stakeholders: Think about who will support and oppose digital transformations within your organization. Because the change in any form is met with some resistance, organizations need their most influential leaders on board to drive change forward.
2). Invest in Innovative Thinkers
“Digital transformation starts with people, not technology.” – Nilofer Merchant.
One of the best ways to ensure your digital transformation efforts are successful is investing in innovative thinkers. It could be through hiring new employees with fresh perspectives or allocating funds towards research and development (R&D) initiatives. Innovative thinkers can help you explore new growth opportunities and develop creative solutions to problems.
Looking for ideas on where to find innovative thinkers? Consider the following:
• Look for people who are already using new technology in their daily lives. If you’re looking to build a mobile app, talk with an individual constantly on their phone. Someone like this may help your organization create something that users actually want and use frequently.
• Invest in training your employees to be more tech-savvy. Even if an individual is not using technology daily, they may still know someone and could put you in touch with this person for advice or feedback during the development process.
• Partner with vendors that are always trying out new strategies and technologies so they can help you stay ahead of the curve.
The goal is to have a team to help identify opportunities and develop solutions quickly and effectively. So, no matter how your digital transformation team is structured, make sure you allocate resources to innovative thinkers.
3). Focus on Business Models First, Technology Second
It might seem tempting to start brainstorming about potential apps and tech solutions. But according to Ryan, the devil is always in the details. Instead, spend time thinking through how your business works as it currently exists—from sales to marketing and beyond—and then work backward from there. A more practical mindset will help you envision what’s possible down the line. It’s hard for some people to think big; I get that, he says. But if you don’t know what current reality looks like, you don’t know where it needs to go.
For example, if you focus on e-commerce today, what would happen if you made a unique online shopping experience? What could change? Suddenly, you have an option for reaching customers digitally who are nowhere near ready to purchase anything in person yet. Your job at all times is imagining how one step leads naturally into another. And as new opportunities arise (like e-commerce), you must make plans for them.
The results of a business strategy session aren’t meant to be set in stone forever; they should be more like guidelines that can be changed over time and adapted to whatever seems most logical and beneficial along any given path.
4). Build a Robust Digital Core Using the Right Tech Tools
From business intelligence tools (like Google Analytics) to customer relationship management tools (like Salesforce) and even security technology, it’s crucial for businesses of all sizes to maintain proper digital infrastructure.
According to Gartner, 55% of organizations building their digital core focus on four capabilities: an app store, experience design (UX), master data management, and customer support applications. Make sure your organization covers these bases as you work to create a robust digital core.
A fair amount of foundational tech is required before getting started with digital transformation. If your company hasn’t embraced recent web technologies like the responsive design or relies on old clunky software, now is good to hire web developers and designers to get your site up to speed. These upfront investments can save time, effort, and money down the road.
5). Decide on the Right Automation Platform
Automation platforms will help you solve problems faster and at scale, but that doesn’t mean they’re suitable for every company. Before selecting an automation platform, it’s essential to carefully consider your options, especially if you want your company to stay lean and flexible.
Taking time to evaluate these questions can help you ensure that choosing an automation platform is well worth your time and resources investment. Hiring an IoT app developer instead of opting for tools is better because tools are always outdated and need constant maintenance, whereas hiring an expert will give better results.
6). Move to Data-Driven Decisions
The good news is that digital technology makes data collection easier and more pervasive than ever before. The challenge is that most organizations still make decisions based on old practices and habits instead of considering data collected from multiple sources—and they often don’t have a system for collecting, analyzing, and interpreting their data.
But with new tools available (like Google Analytics), putting together an actionable data strategy doesn’t have to be complicated. Begin by identifying at least one or two key metrics you can use to measure your organization’s performance across channels, then develop systems for monitoring and evaluating those metrics across platforms.
And finally, it’s essential to maintain consistency in how you collect and analyze data so everyone understands what good looks like allowing everyone involved in decision-making to evaluate potential solutions against explicit criteria.
7). Expand Service Offerings and Customer Engagement
When you know about your customers and their requirements, it’s time to talk specifics. How can you better engage them? What services might they be interested in? Where can you offer support, both now and down the road? Take notes as you learn more about your industry. These insights will become your pillars for future service offerings. If nothing else, jot down topics and issues that concern them – these may provide opportunities for collaboration down the line.
You don’t always have to reinvent your business model with digital transformation. Sometimes, it’s as simple as engaging customers in new ways or offering more support when they need it most. Just make sure not to overcommit on too many fronts from day one; keep everything lean and make adjustments accordingly.
Always remember that we all learn best through experience, so don’t be afraid to throw your first effort out there and get feedback before pressing forward.
8). Measure the Success of Your Digital Model and Innovate it Continuously
Building a digital business model is not an event or project. It’s not even one single thing. It is at least one of three things:
• You may be building new technologies.
• You may be creating new services.
• You may be innovating your existing business model.
What matters for success is that you measure how well each of these elements performs and use that insight to drive continuous improvement and innovation. Measurement here includes key performance indicators (KPIs) and analytics and all other forms of evidence from data, customers, users, and employees.
While internal analytics help informs progress internally, customers should see their performance through tools like customer dashboards and smartphone customer experience apps. The entire system must include measurement systems where results can be analyzed regularly, perhaps daily or weekly, if changes need to happen quickly based on feedback.
Why start digital transformation now? Because your competition will. The reasons are endless: You’ll have access to data to help you better understand customer demand, and you’ll attract younger employees, and customers will spend more time on tasks. It all starts here—and now.
There’s no question that a successful digital transformation can help your business leap ahead of the competition. But it’s not going to be easy, and there are no guarantees. That’s why it’s essential to start small, focus on key initiatives, and measure results continuously. With hard work and a bit of luck, you’ll be well on your way to digital success.
For better assistance, you can connect with digital marketing experts or IT companies in India. They will help you out better.