I’ve been Googling around all day looking for a definition of Digital Transformation. Here is what I think the Digital Transformation is all about:
1. There is no single concrete definition. Digital Transformation means different things to different organizations.
2. Digital transformation is being forced on enterprises who failed to evolve. We would expect leaders like Amazon to disrupt the business landscape and laggards with no vision see their markets challenged by innovators.
3. Laggards woefully underfund internal change such as investing in customer care or sales force management methods.
4. Digital transformation Is not about technology. Instead technology is a vehicle for implementing change. The real focus is on creating customer and stakeholder value.
5. Engage the business units and their staff to drive and support change. Keep hammering away why change is necessary.
6. Never underestimate the power of the status quo.
7. Find out from your existing and potential stakeholders, how your customer touch points can service them better and what technologies align with customer expectations.
Engaging a consultant to guide you on the journey would be a good first step. You will need to develop strategies and tactics to achieve your goals.
8. Find out how your competitors are responding to change. What changes impact the competitive landscape. Your company may be doing OK now but a year down the road it could be a whole new ballgame.
9. Using the feedback from step 7, find a way to disrupt your competitors or new ways to optimize the experience.
10. Be seamless and agile. Adopt the Nike slogan “Just Do It”.
11. Communicate that failure is expected.
12. Develop customer journeys and remove barriers to exceptional sales and service experiences.
13. Develop new ways of computing return on investment (ROI) where in the transformed world money flows through a network of value generating systems.
14. Determine if you are focused on optimization of the business rather than a radical change. Optimization is not transformative.
15. Develop or acquire a new business that does something that you currently do not do.
16. Think of new ways to promote your brand in channels your business currently do not use