The digital transformation of a business is not easy, and it can’t take place overnight. However, it is necessary to adapt it to keep up with the competition. Many businesses have already succumbed to digital Darwinism, a phenomenon when technology and society transform faster than a business can adapt.
As per Forrester Digital Transformation Statistics, to date, only 15% of companies have prioritized digital transformation. But from the year next, every company is going to adopt it in every part of their business. The COVID-19 has separated the leaders from those companies that are lagging behind in the technology field.
While many business leaders are well aware of the benefits of digital transformation, only very few are willing to abandon the old strategies that once worked for them.
This article will take you through the six digital transformation principles every business leader should be aware of:
1- Make a clear transformative vision
If your company lacks a clear transformation vision, you won’t be able to identify where to make your digital business technology investment.
Having a transformation vision will outline a digital strategy and help your business to measure progress and make immediate adjustments to improve results.
Leaders should create, articulate, and communicate the convincing future digital vision to the team as the digital transformation will not take place bottom-up.
2- Customer-centricity is key
Don’t get carried away with the transformation roadmap. You should see that your goals align with the needs of the customers.
Your company is more likely to succeed when you focus on the customers. You should know who your customers are today and who they will be in the future.
You should view the product from a customer’s viewpoint and answer the questions like: What do the customers want? How do they want to purchase? And what is the most convenient way to deliver your product to them?
3- Don’t neglect digital customer engagement
Earlier, marketers used to make products available via digital channels. But today, apps are becoming more popular. Customer expectations are high, and they won’t be satisfied with a mediocre experience. They want an exciting and personalized customer experience that can engage them.
For a successful digital transformation, your company should focus on building customer intimacy that drives engagement.
The digital customer engagement approach includes three characteristics:
- First, digital technology is based on the front-end customer experience.
- In order for technologies and techniques to create value, you will have to enable a digital ecosystem that automates the customer experience via social, cloud, data, and mobile.
- Exposing your business to new growth opportunities by altering track and taking into account how products adapt to the digital customer.
4- No barriers to entry for innovation
There should be no barriers to entry for innovation and the transformation it brings. Today, technology is easily accessible and affordable to almost any company.
The sole barrier that blocks companies from transforming and thriving in the digital economy is a lack of skills. The operational capabilities that worked for them in the past are not the capabilities needed for transformation in the digital economy.
To be on par with your competitors, you need the right leadership mindset and skills for innovation, digitalization, and transformation. If your company is led by complacent leaders, you will face a serious threat in the near future.
5- Actualize your vision with digital platforms
Digital platforms can help you to actualize your vision. Traditional solutions are not only time-consuming, expensive, and difficult to maintain, but they are not suitable for users’ current needs.
For instance, the digital adoption solution by Whatfix that has been officially recognized as a new class of software for enterprises by Gartner Report can increase sales productivity. You can elevate user experience by adjusting to your users’ onboarding needs and offer a personalized experience, deliver contextual help, and offer on-the-job learning. The combination of automation and intelligence that the platform offers can increase user productivity.
6- Get insight with data-driven visualization
Transformative digital organizations are continually gathering data and also connecting and visualizing that data in a context that produces insights that they can act upon. To unlock real-time data intelligence for customer engagement, you need to understand and address customer personas and micro-segments.
These days, businesses are using data visualization to pass on information more clearly and efficiently to users via statistical graphics, infographics, tables, and charts. It helps users in evaluating and reasoning data and proof.
The data that was erstwhile hard to access, understand, and use is now made easily accessible, understandable, and usable with data visualization. It makes it easy to understand the technology and make decisions, reducing rework and app development costs.
There you have it – 6 digital transformation principles that every business leader should be aware of. Applying these principles will ensure that your company thrives in the digital economy.
Have you abandoned your old strategies yet? If not, it is high time you focus on digital transformation and leverage the manifold benefits.