Already an important strategic initiative, digital transformation — which is a catchall term for describing the implementation of new technologies, talent, and processes in order to improve business operations and satisfy customers — has taken on an increasedimportance during the COVID-19 pandemic.
Business’ adoption of digital technologies has sped up by three to seven years in merely a couple of months, with companies accelerating efforts for fear of being outflanked by competitors. Indeed, what was once seen as best-in-class speed for most companies cases just a few years ago is now slower than average.
Customer Demands Are Increasing Exponentially
In addition to technology, customer behaviour is changing with the rise in technology as well as the ease and ease with which it can be used. Customer demands have to be met through solutions such as digital transformation.
Customers are used to a particular quality of service and efficiency. Your company may need to adapt in order to meet their needs using digital transformation. Consumer needs have to be fulfilled and as these tastes are ever-changing, companies have to revolutionise themselves through digital transformation in order to give the customers benefits through accessibility and quality service.
Digital Is Happening Right Now
It’s a digital world. Technology has ushered in noevel ways of reaching target audiences demanding fast-food consumption of information as well as instant gratification. If your digital presence just constitutes a website, you won’t be found. You and your brand will not be relevant.
Including a few random channels, such as a Facebook business page in addition to a Twitter account, won’t cut it either. You should be developing a cohesive digital strategy over time, layering on the channels your target audiences are utilising. As you add a new channel, don’t forget about the ones you’re already using, particularly if they’re producing solid results.
Keep in mind that quality content is what makes you relevant in your industry, whether you’re selling shoes, marketing a law firm or even offering NRL bets online. Your brand should be routinely auditing how your content is doing across all channels in order to stay on top of performance:
- Did a piece of content get read more often, or did more people watch the video format?
- How long did it keep readers or viewers engaged?
- How many clicks, likes and shares did it get?
Ecosystem-Based Innovations Are Now A Reality
Digital transformation can be required through large-scale ecosystem-based alterations. These changes may be unexpected for the company, such as the Covid-19 pandemic; but, the company needs to overcome these challenges utilising new and innovative methods. Ecosystem changes can also be economic changes, a change towards collaborations in the industry, regulatory or legal changes, societal changes, or even geopolitical shifts in the external environment.