Digital transformation is revolutionising businesses
Change is always going to be present in business, whether that’s economically, culturally or digitally. Some changes are in your control if you adopt new technologies and business processes, but some changes are inevitable.
Digital transformation is streamlining businesses, but some companies are hesitant to evolve – whether it’s due to the initial cost or a lack of understanding. However, it’s safe to say that digital transformation is revolutionising businesses.
Leading digital analyst and anthropologist, Brian Solis, summarises why businesses should be accepting digital transformation:
‘Companies need to think of Digital Transformation as a formal effort to renovate business vision, models, and investments for a new digital economy.’
It’s indisputable that technology has enabled change, but digital transformation is about more than just the technology.
Renovate business vision
Some businesses may believe digital transformation is unnecessary, especially when they consider that less than 40% of industries have digitised. But waiting to make changes simply because others haven’t done so yet is risky and will mean you end up getting left behind or scrambling to keep up.
Early adopters of digital transformation will benefit from gaining more profit and those who don’t will struggle to survive and remain relevant. If you have yet to make a start, it’s important to realise you’re already a step behind.
Organisations need to embrace different ways of thinking and should want to challenge the norm, which is what digital transformation does. Sticking with the ‘we’ve always done it like that’ mantra will block iteration and innovation – two key attributes of digital culture.
It’s vital to ensure that your business is fully equipped through capability and culture. Throughout the last decade, customers have been changing their behaviour. They now have a wider variety of choice than before and with more choice, comes more demand.
With so much choice open to customers, businesses must be careful with how they interact with a particularly demanding customer. It’s easy for a customer to voice their complaint to the world by leaving a bad review or a negative comment on social platforms, which can inflict damage to your business’s reputation.
This is why every aspect of your business’s interaction with customers should be examined to identify if it’s in alignment with the customer journey, you and the customer, expect.
How to drive change?
It’s a good idea to introduce all staff to different technology and customer trends. This will sometimes be met with resistance by some staff who don’t like change and go out of their way to block it.
However, it’s important that they understand why the change is happening and explain how the benefits will help. Don’t be deterred, even the most stubborn employees can become digital champions with a little confidence and skills building.
A productive way to drive change can be by considering partnerships with a tech company to stimulate innovative thinking, build confidence and create excitement for future possibilities, not fear or resistance.
Driving change is very much a case of ‘lead by example’. Enthusiasm for digital change must be displayed from the top or few will take it seriously. The business leader should ideally show excitement for how changes will improve customer experience while also motivating employees to identify which activities provide the highest value.
Simply by viewing the change as digital opportunities, the process becomes more motivating and exciting rather than introducing what seems like a threat to employees.
Examples of change
You may believe that your customers have not changed but it’s important to be aware that they are always being presented with modern digital experiences across all sectors. From energy companies to banking and insurance; they are all providing the best digital experience they possibly can.
Your customers will be subconsciously comparing these experiences which in turn will raise their expectations of your business to perform to this standard. Don’t be fooled into thinking this only affects B2C markets as the same thinking also applies to B2B.
If you consider that buyers are becoming increasingly younger; that means, there’s a whole new generation that have grown up with easy to use digital experiences and they will expect the same from B2B solutions.
Where to start?
The very first step you need to take is working out how digitally mature your business is. You then need to make changes in small steps – it doesn’t need to be a massive change. This will be done across three steps which include; contacting, planning and implementing.
It’s important to remember that time is critical. If you don’t adapt your business now, it will be left behind while your competitors embrace digital transformation.
