A company must learn to adapt to changes not only in their industry but with technology too. The fast paced changes in technology force a company to look at how they do business and what they need to change to continue to be competitive.
The addition of technology to your business’ practice is the digital transformation. By integrating digital technology into all areas of your business you are changing the operations and delivering more value to your customers. Without digital transformation a company will struggle to survive.
Benefits From Digital Transformation
Digital transformation provides a company with several benefits. These benefits include:
- An increase in competitiveness
- The company becomes more profitable
- The efficiency of the company increases
- Technology helps the company evolve
- Pushes the company to move towards being on the leading edge
- Closes the gap between the companies digital transformation and the individuals digital transformation
- Increased value delivered to the customers
The Framework for Digital Transformation
When setting the groundwork to complete a digital transformation, a company must understand that not everything will work. This process is a continual improvement of existing practices in order to reach the goals of the company.
First the company needs to look at the customer experience. Improvements in the customer’s experience will help ensure repeat business. If the customer is happy, the more likely they are too return or recommend the company and product to friends and family.
Next the company needs to become more agile in their operations. This means that the company can adjust quickly while still being effective and efficient. The ability to be agile and shift operations helps reduce potential losses that could occur.
When a company goes through a transformation, communication is important. Communicating the changes and positive benefits by management is key for the employee’s acceptance. This acceptance transfers into the company’s culture.
The company must allow for employees to become enabled. Giving employees the power to react and make decisions makes them feel appreciated and a bigger part of the company. The employees feel they have a sense of ownership and then the pride in the company increases.
Finally, when integrating the technology make sure the employees receive the proper training. Employees that are not properly trained on new technology or procedures can discourage them and make them less productive.
Areas of Digital Transformation
Digital transformation can include areas like web design, e-commerce and online marketing. Within each of these areas are specific focus points to increase the effectiveness of the changes in technology.
A company’s website is an electronic business card. If the website is hard to navigate, customers will get frustrated and give up. The digital transformation will create a website that is more functional and interactive. An easier to use website with increased functionality increases the user’s experience. Keep the website sleek and simple. Cluttering a website just makes things harder to find.
E-Commerce or electronic commerce is the transfer of data via electronic media for the purchase of goods or services. E-commerce can include purchase orders, receivers, sales invoices and invoice payments. The electronic management of inventory and product catalogs becomes more efficient from the physical inventories and old paper catalogs.
This may be one of the biggest opportunities that is underutilized by a company. A company has a variety of options to increase their electronic marketing presence. With electronic marketing on the rise, a company can miss significant chances to capture their target audience. But knowing how to cash in on those opportunities can be hit or miss if you don’t have the right marketing campaign.
Many companies currently have websites, but how their customers find them is a specialty that is called search engine optimization or SEO. SEO uses keywords to lead customers to your website. Determining these keywords can be tricky. If a company is not familiar with this type of marketing, finding a company that specializes in web design and SEO’s can be beneficial in increasing your traffic on your website.
Another online marketing strategy is the pay per click. This strategy uses other company’s websites to advertise your product. The website where the advertisement is located does not receive a flat fee instead your company pays the website owner only if a customer clicks on the link to your website. Some people call this cross advertising. One company is using another company with similar interests and targets the market to promote their products in the hopes of getting cross traffic from the one site to your company site.
Now days everyone is on some sort of social media whether it is Facebook, Twitter or Snap Chat. Social media can increase sales revenues because of the large numbers a company can reach in a short period of time. For example, if one customer follows your company on Facebook and they have 100 friends following them. There is a good possibility that the majority of those 100 friends saw your product or service. Say 80 of those friends did see the company’s product and they shared the post of your product to their 200 friends. This type of marketing is like a spider web. As a company you are connecting one point or customer with another through a shared need, want or experience.
Remember digital transformation does not happen overnight. It takes planning and some risks. But without risks, there is no reward. Things may not work like you expected but do not give up. Keep trying. Persistence is key!
For more information on digital transformation, please contact our office for an appointment.