Understanding Digital Transformation
Digital Transformation is creating or improving existing business models, culture, and customer experience using digital technologies to get the best out of your business. By making use of digital technologies in the modern world of the internet, sky is the limit for any business. Your Customers are already online, it becomes imperative for you to catch up.
With the advent of Digital technologies like Chatbots, AI bots etc you can take your business to your customers more efficiently. Use technology and apply it to all parts of your business. With the current pandemic situation more than 80% of non-traditional businesses have transformed themselves digitally.
How Digital Transformation works
Digital Transformation alters most of your business’s strategies. Whether creating an environment for user interaction, or just the appearance of a business online. The transformation takes off slowly and then adapts to most of the components. There are mainly three key areas given by MIT Sloan Management Review.
- Customer Experience: Your customers are online. Every business needs to make use of technology to interact with the customers at their medium of choice. Today’s customers are used to having everything at the tip of their fingers. So if you can redefine your CX based on their needs, you are a winner.
- Operational Process: Collect and Analyze data to help with the growth. Using technology to automate things and make them work faster. By coupling up the manpower along with technology to unlock the potential.
- Business Models: Technology can enable any business to scale up globally. By using digital tools and introducing digital services, your business will have a strong foundation and the charts will start hitting the roof.
Importance of Digital Transformation
Just like any other great business that has existed in the past your business model needs to be updated in order to compete. Top CEOs always make efforts to keep on changing with the industry. If you don’t change with your competitors, your business will lag behind. Evolving is a must be it any business or enterprise.
Since the pandemic forced businesses to scale up online, most businesses have made immense efforts to scale up in the right manner. Thus, it becomes important for you to apply digital transformation to your business. Today, most companies focus on transforming themselves digitally rather than just running the business. This is where all the difference lies between a successful business and the one which is “just running”.
Although it sounds simple, but a data states that “only 8% of global companies have been able to achieve their targeted business outcomes from their investments in digital technology. This is because most enterprises go with the wrong approach when it comes to transformation.
A successful digital transformation is the one that enables organizations to adapt to the environment for many years to come. If an organization always updates the way its business operates digitally then the roots of that organization will always be deeper in the industry from a long-term perspective. This becomes important for every business to transform digitally.
Glimpse of Digital Transformation
To understand any business model, it is important to look at examples. After the digital revolution of the internet, most organizations and businesses moved online. Restaurants started taking orders digitally, hotels designed their website to show the vacancies and prices of their rooms online, and cabs are just a click away. You see, there is no business that can’t scale up digitally. With the right approach, any organization can start scaling up digitally. Below are some key examples of Digital Transformation:
- Monitoring the sales and targeted audience real time
- Giving in-person online training to employees from all around the world.
- Introducing customer support and call support on every platform like Email, SMS, WHATSAPP VIBER etc to deal with every need of customers
- By enabling virtual transactions which can be done from anywhere around the world in turn increasing your audience and clients.
- Introducing loyalty E-cards and personal benefits to loyal long-term customers which boosts the relationship between the brand and the customer
Getting Started with Digital Transformation
A digital transformation strategy includes planning the business model again and start adapting according to the market. Here at Digital Solutions Bay, we guide you to transform your enterprise digitally. With our partner experts we have already helped transform many businesses, you can be assured that your business will take off successfully and scales up globally.
We provide our customers with all the digital tools needed to win the industry. DSB along with their network of Partners have already transformed thousands of enterprises digitally and you can leave all the work over our shoulders and rely on our experts. Start Transforming your organization Digitally now!
