Over the last two decades, and especially in a post pandemic era, tech companies who want to get ahead are prioritizing their digital transformation journeys. We call this process a journey because there are lots of different decisions to make to lead to positive outcomes. Nothing changes overnight. The companies who are successful are the ones who maintain a mindset that is focused on great digital experiences for their customers. Building a strategic roadmap and acting on it will help set your company up for a smooth digital transformation.
Effective data analytics, better customer experiences, and a unified workforce are just a few of the benefits of digital transformation. Not to mention that customer expectations across B2B and B2C industries are rising daily, which means companies who fail to prioritize digital transformation will lose revenue down the line.
Why do companies need digital transformation?
Companies need digital transformation for a variety of reasons. Common reasons include:
- Homegrown solutions that are no longer suitable for the company’s size
- Unoptimized or dysfunctional platforms
- Technologies don’t integrate well with each other, creating siloed data
- The current techstack doesn’t allow for scalability
- The current website isn’t helping the company reach its goals
- The current website doesn’t allow for automation
Our 2021 B2B Report found that customers run into a variety of frustrating roadblocks while interacting with brands online. Understanding product specifications, accessing up-to-date information, and finding inconsistent information drives customers to the competition.
Digitalization is happening at such a rapid rate that five year plans and even 12 month plans, can fall apart. Organizations should come together quarterly to discuss where there are gaps among their teams. These could be a result of a lack of alignment or IT needs that are not being met. From the top down, a digital transformation is an organizational change that affects the mindset and digital function of an organization. Constant evolution is necessary because, as we’ve seen,roadblocks and challenges do come up and only the most adaptable organizations will be able to get through.
Why is digital transformation difficult for large companies?
Change can be difficult for a number of reasons for any large company. In the case of a digital transformation, the transformation can be the hardest, even if you are digitally equipped with the best techstack. Leaders may be faced with breaking traditions as they become more future-focused.
The key to any good digital transformation is to be proactive in preparing for what is coming, not reacting to what has already happened. Shifting a large culture that has taken years to cultivate, to a digital first mindset can be extremely challenging. It begins with the language and mindset of everyone involved in the company.But once everyone realizes and understands their shared goals, the company will receive positive returns on their investment that leads to greater revenue in the future.
What are some real examples of digital transformation?
Digital transformation impacts both internal and external stakeholders. Externally, digital transformation impacts range from a new website to new ways to shop, to an optimized and fully functional online experience. For companies who already have an established online presence, customers may see newer features, such as personalization, better UI/UX design, or faster load speeds.
And the changes are just as noticeable internally. Every digital transformation also requires a change management plan to keep internal teams aware of any changes to old processes. Change management ensures a smooth roll out of changes across the organization and increases the rate of adoption. Likewise, the marketing and IT teams should be aligned from ideation to implementation to ensure a smooth delivery and best possible ROI for their digital transformation project.
Why are data and analytics key to digital transformation?
Data is an essential component of the digital transformation process. As the saying goes, “you can’t manage what you don’t measure.” How can you receive value from your journey if you are not actively storing and processing your new information?
Correctly sorting through the data and extracting insights will help make data-driven decisions. Sort through analytics, identify what is valuable to your customer and any pain points they may have, and look for optimization opportunities.
Digitization is essential to collecting insights about your consumers across the company. In our Solutions for the C-Suite white paper we discuss how different departments can collaborate to accomplish shared goals more efficiently. Marketing teams capture large amounts of consumer data through their digital marketing channels. The IT department should have a system that is functional and efficient to process the data, analyze it, and store it in a widely accessible place for the company. Data driven insights highlight opportunities for a deeper customer connection and improved experiences online.
What are the steps to take for digital transformation?
To keep up with buyer expectations for a high quality digital experience, our Digital Roadmap has a breakdown of the most important steps:
- With any journey, a strong plan is key for getting to where you want to go. Having a deeper understanding of your company’s digital process, technology, and customer needs will help with identifying digital gaps.
- Align marketing and sales around a common goal to increase engagement. Marketing offers plenty of customer data and sales has the pipelines to give them what they are missing. Linking them together creates a streamlined customer experience that blends that needs with the technology to meet their desired experience.
- Personalized journeys are crucial for a memorable digital experience. 90% of B2B buyers will turn to a competitor if a supplier’s channel cannot keep up with their needs. Creating a personalized experience is key for a positive experience.
- Optimized searching makes it easy for potential buyers to navigate websites in search of their desired product or service. Keep key words in mind when creating quality content to increase site traffic.
- Be aware of how your business measures compared to the competition. Understanding the digital landscape, specifically how your sales, talent, and overall technology, compare to different options allows you to clearly communicate how you differentiate yourself in the marketplace.
Although the journey of digital transformation looks different for every organization, following these key steps will help you stay on track to evolving your digital landscape.
Ready to take the first step in your digital transformation journey? Contact us or download our Solutions for the C-Suite white paper.
