First, What is Digital Transformation?
No matter what industry you’re in, there’s always a new buzzword going around. Along with omnichannel, move the needle, growth hacking, and disruption, you may have heard people talking about digital transformation. We don’t know who came up with this particular buzzword, but we do know that digital transformation is the utilization of digital technologies to positively impact all aspects of your business and customer experience. All industries can benefit from digital transformation, it’s not just for tech-driven businesses. Customer experience is at the core of Tallwave’s approach to innovation. We’ve learned that customer experience and digital experience can’t be decoupled—taking this approach has helped our clients establish competitive differentiation in their industries. Not every business understands transformation and not every business is ready to move forward with it. You may be on the fence, and that’s okay! Wherever you are on your digital transformation journey, here are five misconceptions about transformation strategy.
Digital Transformation Looks the Same for Every Company
Digital transformation isn’t a one-stop-shop—it doesn’t come with a neat checklist or set guidelines. Just as your business doesn’t have the same problems as your competitors, your digital transformation solution should be just as unique. While not every problem will need a major overhaul to solve it, not every idea will be a home run either. The first step to digital transformation is figuring out where your businesses’ particular problem lies. Sometimes the problem you’re solving for isn’t as prevalent as you initially thought. Other times it’s the latent problem you have yet to discover. Before rushing into making huge changes to your business, make a note of these details: Where can you improve your business? What’s lacking? What are your goals? In a perfect world, digital transformation would go hand in hand with instant gratification. However, the world we live in operates on more of a “slow down to move faster” mindset. Set yourself up for digital transformation success by first getting to the root of the problem and understand what you’re solving for. Okay, you don’t have to go at a snail’s pace here, but slowing down will help act as a safeguard.
Technology = Digital Transformation
If you’ve recently implemented new technology and thought your digital transformation was complete, you’re going to want to pause and keep reading. New technology is awesome, but what is it actually doing to help you meet your business goals? Digital transformation is about optimizing the end-to-end customer experience or operational process in a way that drives new revenue or value to your organization. Complete digital transformation isn’t just about applying new technology to a process or product . Giving your business the flexibility to innovate using information to create value is where real change happens and where you achieve actual digital transformation. Remember, digital transformation is more about the solution you create. It’s through optimization, innovation, developing new revenue sources, and information-driven value that business model shifts occur. Be mindful about where and why you’re spending your money on new technology as it might not impact your business as well as you thought.
Customer Experience Is the Only Thing That Matters
It’s a no brainer that your customer experience is one of the key drivers in your transformation, but it shouldn’t be the sole focus. Don’t overlook your team and processes here (they’re what we consider the core of your business). In order to realize a true digital transformation and achieve your business goals while delivering a great customer experience, you must connect the dots internally and remove any blocks or silos that may currently exist. Transformation should start internally by gathering your departments and taking a holistic approach to solve your operational needs. With a strong core, organizationally, technologically, and culturally, you’ll be able to work with greater efficiency and agility.
Digital Transformation Only Benefits Tech Companies
We hear this all the time: digital transformation is just for tech companies. News flash: it’s not. Digital transformation is an all-inclusive, all-welcoming process for companies within any industry. Not getting in the digital game because you’re not a “tech company” could sideline your business's future. After all, in this day and age, your business should have a digital presence of some sort for visibility. Digital transformation can happen across all industries, various divisions, and functions within organizations. It can occur with the customer experience, product or service innovation, the supply chain, marketing, sales, digital fulfillment, HR, and the list goes on. Making more well-informed decisions with your people and processes can happen with advanced data. With digital transformation, you can improve your internal communication and create more invested employees.
If It Ain’t Broke, Don’t Fix It.
So you’ve been doing things the same way for a while. It’s working, nothing is out of place. Why fix what isn’t broken, right? Wrong. This is exactly why your business or organization could use a digital transformation strategy. Times are changing and not having a solid digital presence could affect your business goals. If you’re now considering a digital transformation to change up your business strategies, keep in mind how you can appeal to new generations in a way that is engaging to them while helping your business along the way.
Digital transformation touches every aspect of an organization. If your business is ready for a digital transformation, know that it’s all dependent on where your business currently stands. Allow your process to be guided by what your customers want and need, but also ask your employees what they need in order to get a sense of how technology can make your business run more efficiently. At Tallwave, we’re dedicated to helping you define what digital transformation would look like in your industry. If you’d like to learn more, download our free eBook for an in-depth look at digital transformation and drop us a line. We’re ready to help transform your business and meet your goals.
Written by Alejandra Guillen—Content Creator