From apps and cashless payments to digital marketing strategies, every business has a facet that has gone digital. With a digital transformation strategy, your business is in good stead to adapt to changing market circumstances quickly.
If you are deliberating on a digital transformation strategy for your business, this article discusses the 6 pillars to conceptualise and implement it. They underscore the most important goal of a digital transformation strategy: to accelerate business growth in the age of the Industrial Revolution 4.0.
1. Do a digital audit
Jumping onto the digital bandwagon because it is the right thing to do can result in costly mistakes. What got them there may not get you there too.
Starting with a close look at your business – current and future needs, capabilities and resources – is important. It sets the tone and direction of the transformation process.
Avoid digital indigestion, which is a possible consequence without a proper audit.
2. Get staff buy-in
One of the biggest challenges of the digital workplace is facilitating the collaboration between man and machine. Employees’ keen participation is necessary to achieve the long-term goals of the strategy.
When employees embrace the notion they will be doing less but thinking more at the workplace – analysing and developing ideas – the transformation will likely yield better results.
3. Think customer experience
An effective digital transformation strategy must meet customers’ needs too.
How they interact with your digital look and feel and capabilities is vital as it will be the way they do business with you.
An effective digital business strategy enhances the customer experience.
4. Start small
Digital transformation is the biggest buzzword in business today. But you don’t have to start on a big scale.
A sound business strategy to kick off your digital transformation is to start small. Activating small digital initiatives will facilitate quick feedback and application of learnings.
While strategic planning remains important, these shorter learning cycles will contribute as much, if not more, towards full implementation of your business’ digital strategy.
5. Cultivate a data-centric work culture
The beauty of digital is its measurability across time, activities, functions and people.
For many small businesses, this is a game-changer to drive business growth. They become less reliant on gut feel. However, it is important to avoid analysis paralysis. It can lead to inaction.
6. Work with a digital transformation partner
Over 4 in 5 companies believe digital transformation is important according to a report by SAP in 2018. However, only 3% reported they have completed a full digital transformation of the business.
Being new, not many companies know where to start and what the end should look like. Working with a digital transformation consultant is imperative. Their objective view of the business, its goals and processes will help in prioritising initiatives to implement the strategy.
Linking Business Innovation – Powering Digital Transformation
vLinkD helps businesses identify and implement the right business technology to drive growth. From marketing to other business functions, we design the blueprint and see its implementation through. Book a consultation with us today.