The customer may be king thanks to the Internet, but digital transformation can still give your company a powerful, influential role to play.
In a 2015 Accenture study, 63% of businesses were identified as in the planning stage of improving customer experience, while only 26% were ready to execute their strategies. If you haven’t yet, you’ll need to begin your transformation now to stay in the game.
Begin with identifying aspects of your company that are ready to transform without disrupting your business. When optimizing bottom-line earnings, most companies focus on three key areas:
- Customer experience
- Operational processes
- Business models
If your organization is digitally mature, tackling all three areas concurrently is possible. If not, focus on just one aspect and the singular technologies that can be outsourced while training employees.
2. Prioritize user experience
To deliver a top-class customer experience, walk through the online user journey and compare it against your competitors’ journeys. Customers want simplicity, efficiency, and effectiveness in their transactions. A successful interactive platform reassures customers that they are being heard and that their questions will be answered.
If you’re targeting operational processes, prioritize collaboration and flexibility to maximize workplace productivity. With less employee time spent on fighting system issues, the company will not only enjoy higher performance but also attract more tech-savvy employees – a group that expects workplace software to be as easy to use as home software.
While it seems like a minor add-on benefit, research shows that successful digital transformations are typically headed by visionary leaders who possess a strong commitment to the cause.
3. Be mobile
Applications and programs vital to your digital transformation must be optimized for mobile use. According to a Deloitte study, “almost 80% of global consumers have smartphones, more than 50% have tablets, nearly 10% own wearables, and seven percent own all three.” Mobility may take many forms these days, but the smartphone reigns supreme. A survey by Bank of America supports this, stating that nearly half of U.S. adults claim they wouldn’t last a day without their smartphones. In addition, smart companies leverage mobile data to enhance the customer experience, target marketing, and learn more about consumers.
4. Protect your digital trust
As the business builds digital capabilities, it also builds a stronger reliance on digital assets. Keep on top of the growing number of risks related to security breaches and data leaks. Without appropriate response systems or protocols in place, digital assets could easily mutate into dangerous liabilities. While trust takes years to build, it takes only seconds to destroy.
Protect customer data and business confidentiality by hiring a chief security officer or chief risk officer to evaluate and manage top risks specific to your business. Test the strength of your security system by scheduling and closely monitoring hacks into your system.
Follow these four steps to digital transformation, and watch your business grow!
Learn now industries are adapting to digital transformation at different speeds and on different scales in The Internet of Things and Digital Transformation: A Tale of Four Industries.