Though you might feel like it’s already lost its meaning because the term is thrown around so much, adopting digital technology is necessary especially in these trying times.
Digital transformation is the use of digital technology to improve a business.
There are two sides of a business that digital transformation can be applied to: customer interface and internal processes.
If you want to succeed in digitally transforming both, all you need to do is follow a few simple steps.
1. Determine who your customer is and what they need (with data)
Living in a world without computers and the internet, our grandparents used to buy products and services from salespeople who would represent different stores or companies. Today, consumers can transact with companies directly online. Businesses can now reach out to customers themselves.
Without a middleman, you’ll have to engage your consumers and address their needs directly. To do this, you’ll need to know about them. First, decide on what kind of data would help you customize your offerings to suit their needs. Then, find out how you can obtain that data.
Once you have the data, you can use digital technology to target your clients individually.
2. Make sure you have KPIs
KPIs, key performance indicators, allow you to measure your success in terms of your business objectives. You can make your entire business digital, but without numerical goals, you won’t know exactly how well you’re doing or if the shift has made any difference at all.
Do you care more about revenue growth or customer engagement? Are you focusing on one particular product’s performance or are you worried about keeping your customers? Check in on your KPIs every now and then, just to be certain you’re on the right track.
3. Embrace tech enablers
Study the technology enablers that will help you go digital. Many digital businesses use automation, the cloud, data science, and AI/machine learning. Because they make use of the Internet of Things, they also invest in cybersecurity to protect their data.
Automation quickens internal processes, and the cloud provides the platform to make that possible. Data science allows businesses to learn about their customers and internal progress, while AI/machine learning offers the option to personalize customer experience based on that data.
4. Figure it out internally
Decide on how each aspect of your business is going to help you reach your KPIs with the use of technology. Turning digital requires businesses to use more than just their best IT experts and graphic artists.
Find out how all of your departments can work together. Enticing ads and functional websites are a must, but the people behind these should be aware of each other’s progress so that your plans are executed seamlessly.
5. Survive with the times
More and more enterprises are investing in digital technology in the long term. In fact, most businesses undergo a digital transformation to survive. The digital technology enablers you avail of will eventually evolve, so be prepared to handle the change.