We've learned about Digital Transformation and how it allows companies around the world to make their business better. With the advent of internet innovations and technological advances, everyone needs to ensure that their company has a digital presence that makes an impact, a positive one.
Yeah, the public has more digital exposure than ever before, which is why companies continue to reach out to their audience via the Internet. In reality, the Internet is the best place to find a large number of people. People also search through various websites and channels in their free time. Businesses have also begun to take the requisite steps to stay ahead and market their brand as much as they can on digital platforms. This can vary from websites to mobile apps and even social media portals.
On the other hand, the audience is also very comfortable using internet platforms to connect with brands. Nowadays the internet and devices that can be connected and used with the internet are viable and affordable. People acknowledge brand presence on the internet and are encouraged to engage with brands that have their digital reach spread across different digital platforms and portals. If we go back in time it is noticed that one of the first-ever Digital Transformation took place in the music industry. Yes, this is something not many of us are aware of. But, the music industry has come a long way from CDs and cassettes to iPod and other devices which do not need any external hardware inserted in them to play music. These devices are compact and very user-friendly too. In fact, a lot of these devices do not even need a continuous internet connection. We can all see and have also experience the shift from CDs which we used to play music to now when everything related to music is online and portable. People can also listen to music on different internet platforms easily.
Slowly, after brands in different sectors analyzed the pros of going digital, the rise of transforming businesses digitally rose.
Businesses in different sectors and fields like IT, Telecom, Entertainment, Healthcare, Insurance, Travel, etc. have started to bring their businesses on digital platforms. It is agreed that digitally transforming businesses is not a very easy journey, but, it is essential. In this era where a large number of people are digitally equipped and are to some extend also dependent on technology and the internet, it is very important for businesses to keep up with the competition and make their way through. According to a survey conducted by International Data Corporation, 85% of decision-makers and stakeholders have confirmed that they have set a time frame of about 24 months to incorporate and implement Digital Transformation in their business model to ensure that they are at par with their competitors in the market.
The problem with Digital Transformation is that people are well convinced about this and are willing to take the required steps to adopt this concept in their business model but, the challenge arises while implementing and starting off at the right foot. Brands know the benefits Digital Transformation brings to the table but are in some way hesitant as they feel like it is a big process and requires a lot of time and money invested in it. This is however not true. If planned well Digital Transformation is not as hectic as businesses perceive it to be. Digital Transformation is extremely important for businesses and in this article let’s have a look at a few Core Principles of Digital Transformation.
Top 3 Core Principles of Digital Transformation
1. Leave it all in the past
We have all heard the saying that “If you keep doing the same thing you cannot expect different results”. This is very apt when it comes to Digital Transformation. If businesses continue with the same traditional strategies even in this digital era they are sure to lag behind from their competitors. Brands should leave behind the traditional approach of connecting with their audience and should start engaging with them on various digital platforms. New ideas, strategies, technologies, approaches, etc. should be adopted by businesses to stay up to date with the evolving times.
For example, Insurance companies have left behind the traditional approach that people used in earlier times. They have managed to convince their customers to buy policies, make claims, etc. online on their website or application. This has turned out to be a hit and there has been no turning back ever since.
2. Get a very good vision
A clear and well-defined vision should be set right at the start of the plan. Without a clear vision, it is very difficult to take on a sustainable Digital Transformation journey. A team that works towards digitally transforming businesses cannot work efficiently if they do not have a clear vision of how what and where their plan is heading towards. The senior management and stakeholders of organizations must create and communicate their agenda and vision with every team member to ensure that everybody is on the same page.
For example “Apple” as a brand has had a clear vision since day one. They know what they want and how they want to reach out to as many people as possible. They have new inventions in the field of technology every now and then and believe in providing the best to their customers.
3. Define the problems
A lot of Digital Transformation initiatives fail because companies are unable to identify the real problems faced by users. Brand leaders are often unable to grasp the root of the issues their users are facing. To identify and understand the actual problems, businesses need to take a step back, reflect, and clearly put forth what they are addressing. Businesses should always look at their product or service from different perspectives to get to the root of the problem. There could be multiple layers to why there is a problem, so it is very important to drill down and reach the root to create appropriate solutions.
For example: In 2019 “Snapchat” had launched new features in their app and made changes in the functionality to attract more users. However, this was disliked by users and there was a social media steer about the same. They immediately had to change their functionality and go back to the older version which people appreciated. This proves that what the brand thought was a problem wasn’t actually a problem for their real users.
With the speed at which digital transformation is taking place, almost all businesses have a digital presence to engage their audiences. This digital revolution has also made it possible for Google to make its way from an unknown brand to be recognised as a giant on the Internet.
In conclusion
Performance in Digitally Transforming the Company, Technology, Team Members, Policies, Processes and Discipline should all be well integrated and in harmony with each other. Many companies have not gone through the launch process because issues which could be overcome in the early stages were not addressed. Ensure that you hold the above values in mind and are sure to provide the company with great digital solutions.
