Your business will need to change its activities, competencies, processes, and models to fully integrate digital technology in both a strategic and forward thinking way. Additionally, your business will need to adapt to changing trends in technology and business. Below are some tips and suggestions on how to transform your business:
1. Discuss the important P’s of Information Technology and Innovation
Process: This is the glue that binds all of your P’s together. This is your full process or method from start to finish. You will need to come up with a full business model from planning to execution.
Philosophies/Principles: These are your guiding philosophies and principles that will help you go about implementing your plan. These include your company values and company culture.
Product: What is your product? Product means everything from your databases, your networks, your applications and its servers, to your client platforms, and all the tools that you plan to be using to create solutions.
People: You need to create an environment of trust, empower your staff, and focus on both leadership and management. Recognize any and all channels you’ll need to utilize to foster maximum teamwork and process improvement. Here, you need to make sure that you know your team in and out. Discuss all important matters with them and ask for their feedback and concerns.
2. Focus more on the customer experience.
One of the leading companies in digital business transformation, Allerin, suggests the importance of creating a top quality customer experience through proper planning and engineering. Through this approach, you will shift your company from a retail business to an experience business and in effect have your customers more engaged with your business.
But what exactly is the customer experience? Customer experience focuses on their behavior during their buying journey and how you can convert their engagement into sales. In order to do so, you will need to think like a customer and figure out what they want or need, and how you can keep them satisfied and coming back to you for more product offerings All of these points should be discussed in detail and taken into consideration when transforming your business.
3. Identify the key problems and offer tangible solutions for your market.
In order to capitalize on your digital business transformation, you will need to find out what the key problems are with opting to go digital. Put yourself in the shoes of the consumer and figure out their hesitations and concerns.
Perhaps, their greatest concern would be security. This would involve their password, their personal details, and their credit card and billing details. On your end, how can you ensure them that you will be able to keep all of this information safe and secure? Other problems similar to this should also be identified. The solutions should be discussed in detail in order to ensure that you will gain your customer’s trust.
Conclusion
Digital business transformation is essential to keeping your business relevant. As the times have changed, you will need to as well. In order to transform your business, focus more on your consumer experience and develop a proper business plan on how to transform your business for the digital age.
