The world has changed. And the reality is that digital has changed it.
To contextualise the rate of change, consider that the human race took over 8 000 years to move from the agricultural revolution to the first industrial revolution. And it has taken a mere 50 years for us to move from the third industrial revolution to the fourth; which is where we find ourselves today. A survey by Coleman Parkes Research, found that 82% of respondents are already using digital technologies to transform how they run their businesses and interact with customers.
While many understand the value of digital transformation – and it has become one of the most talked about subjects in the business world – a deeper understanding is needed to really make the most of it. Digital transformation may be about using digital technologies to solve traditional problems that’s because digital transformation is about so much more than technology; it’s about people too. “Rather than making a case for change based on competitive pressure or internal challenges, centre your transformation narrative on how the desired change will help improve people’s lives,” Inc magazine writes.
Here are a few ways to take a deeper look into digital transformation efforts.
Make your change one that changes lives: Your digital transformation strategy should minimise competitive pressures and internal challenges, but it should also improve people’s lives. Your efforts should help your clients do things better and should also make your employees’ lives better.
Create a digital culture: “Culture eats strategy for breakfast,” the famous saying goes. If your employees – from the top to the bottom – don’t buy into your digital efforts, these strategies will fall flat. Your competitors can copy your product or service but if they don’t have the same approach to cultural connection as you do, they can’t compare. Deep transformation starts out with taking action that aligns with your unique business culture.
Be more customer centric: Services like Amazon and Netflix have given the world a personalised approach and this has now become the minimum requirement for businesses. We are living in the world of the “always-on” consumer and gone are the days when the one-size-fits-all approach was good enough. A personalised experience is essential.
Leverage data: When it comes to digital transformation, the last thing you want to do is run before you walk. Especially when it comes to data Deep digital transformation is all about using customer information to personalise your offerings and improve your products and services. But big data initiatives are a wasted investment if businesses are unclear about how to utilise the data effectively.
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