Why Digital Transformation Is Top of Mind with Today’s Leaders
Digital transformation is top of mind in every business you have these days. We’re guilty of throwing the phrase around at business meetings, this can cut that cost, this can bring in more revenue, but what does it actually mean? Why does it matter?
Today, “digital transformation” is a hot button for companies across the globe looking to expand. And, digital technology has disrupted mainstream media over the past decade with some notable brands, like Blockbuster.
Now companies that have embraced digital transformation, are leading the digital revolution, while the rest of them are trying to keep up with industry movers & shakers. These pioneer companies are now digital leaders who want to see technology as a way to create new revenue streams, improve customer experience, and streamline entire business operations.
But What is Digital Transformation?
By definition, digital transformation is the company’s ability to adapt to this major disruptive change from technologies, and how it affects customer buying decisions, and well as, how employees use this technology at the forefront of business operations.
Without an end in mind, digital transformation continually seeks out how to use technology in ways that improve customer experiences and relationships. It also represents an effort that introduces new models for business and, equally, creates a way of staying in business as customers become increasingly digital.
As technology becomes a permanent fixture in everyday people’s lives, companies are forced to update their old strategies, marketing & support systems to better reflect how business is evolving. Companies are now reverse engineering experiments, more technical processes, and more complex systems to better adapt to an ever-changing market environment.
Because it’s focusing on customer behavior, digital transformation is in its own way making businesses more human. As such, digital transformation is not a specifically about technology, its empowered by it.
Digital transformation main key points:
- Social platforms, mobile phones, real-time processing, and other disruptive technologies are being created to help companies adapt to changing costs and a fast paced ever changing marketplace.
- Digital transformation is now the top of company’s meetings conversations.
- Customer experience is becoming critical, as is looking for ways to deliver products in the most efficient cost-effective way.
- Digital transformation is still in its infancy and has a long way to go maximize its true potential.
- Digital transformation is driven a technology that involves customer behavior and how they react.
- Three key components that build the foundation on which digital transformation is built:
- It is most effective when there’s a clear vision and strong leaders leading the transformation from within.
- Customer experience is center of attention for digital technology marketing to focus on.
- Change is from within long before considering technology.