Whether we like it or not, the world is only getting more digital. Whether it’s digital banking, online shopping, or ordering food through social media (yes, you can do this), it seems that digitization is here to stay.
There is a bit of a stigma around words like ‘automation’ and ‘digitization’, but the truth is robots aren’t coming to replace us all. When done correctly, these trends will allow you to run your business more efficiently, offer greater service to your customers, and make the life of your staff easier.
So, what is digital transformation and what does it mean for your business? Keep reading to find out.
What is Digital Transformation
There isn’t one rigid definition for digital transformation because it will look different for every business. That being said, generally speaking, digital transformation is when a business uses new technology to improve customer experience and offer more to these customers.
Digital transformation shouldn’t be confused with automation. Automation is when tasks are performed with technology with minimal or no help from your staff. Digital transformation is bringing in technology to replace analogue tasks and help your staff to perform their role better
The benefits of digital transformation include:
- Saving both time and money that can be re-invested back into your business.
- Help your staff to work more efficiently, and therefore improve productivity.
- Allow you to stay ahead or keep up with your competition.
- Offering more to your customers and improving customer retention.
So, if you want to see these benefits in your business, here is your guide on how to digitally transform your business:
Change your focus from products to your customers
One of the biggest drivers of the digital transformation trend is customer experience. Whilst it’s important to have a great product, a strong business understands and meets the needs of its customers.
When you focus on the problems your customers are facing and put your energy into solving them, you’ll generate repeat customers that will keep coming back to you!
Let’s use Under Armour as an example. Whilst they try to offer cutting edge activewear, they also understand that one of the biggest challenges people face when it comes to their health is motivation. So, instead of pushing new products, they hosted a 30-day Healthy at Home Fitness challenge.
This creates a meaningful connection with your customers, that goes beyond a good product. Digital technology allows you to create these experiences and solve these problems.
Bring in Technology you actually need
A common mistake made by businesses is bringing in technology for the sake of it. This is common because it’s easy to do. You see a new, shiny, app or platform that promises big things for your business.
The problem is that not every piece of technology is suitable for everyone. So, it’s important to take the time to evaluate different technology to make sure that it is actually a good fit for you.
Another point to remember is that you’ll likely need to pay for much of this technology – so the more you try to use, the more you’ll have to pay for.
If applicable to your business, remote or hybrid working can offer huge benefits to your business. If you adopted an almost entirely remote model, for example, you could save on one of the biggest costs faced by any business; paying for a workspace.
Digital transformation can help to support this transition. Your in-office meetings can be done over the phone, or over the internet. This includes presentations. Your team can communicate through instant messenger apps and collaborative platforms. Tracking progress and tasks can be done through digital team management software. Documents and tasks can be completed through collaborative apps that allow people in different locations to edit documents simultaneously.
This technology is just the tip of the iceberg, and it allows you and your team to work entirely remotely whilst producing the same, if not better, results!
Invest in Security
Cyber security is just as important as physical security. Just you as you would protect your office from anti-social behaviour with CCTV and security staff, you need to do the same for your digital business.
If you store and use customer data, you will need to meet the requirements outlined by GDPR and other legislation. Having robust security measures will help to protect you from data breaches which can be very damaging to your business.
Equip your staff to succeed
As you make the move into the digital world, it’s important to take your staff with you. Make sure that you provide thorough support and training for any and all new tools that you bring into your business.
Failing to do so will undo all of the time and effort that you’ve put into digitally transforming your business.
If you’re on the fence about digital transformation, it’s to get off. Digital transformation is a must for all businesses if they wish to stay competitive and deliver for their customers.
Take the time to evaluate areas of your business where you can bring in new technology and get transforming.