As the world continues to move toward greater technological advancements, only one thing is certain for businesses: you either keep up or get left behind. For that reason, many businesses are creating what is being called digital transformation strategies. These strategies will be used to form how the company moves forward and positions itself in the digital world. Based on current trends, it is safe to say that the ease and convenience of online shopping is here to stay. That means that any company wanting to stay current needs to have a digital transformation strategy, and it probably needs to be an aggressive one. In this article we will talk about what exactly a digital transformation strategy is and why your company needs to utilize one going forward.
Wait what is a digital transformation strategy? Unless you are up to date on all of the business trends of 2020 you might find yourself a little confused by this term. Depending on where you look you might find different definitions of digital transformation ranging from this:
“Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how you operate and deliver value to customers. It’s also a cultural change that requires organizations to continually challenge the status quo, experiment, and get comfortable with failure. (Enterprisers Project)”
To this quote from George Westerman, MIT principal research scientist and author of Leading Digital: Turning Technology Into Business Transformation “Digital transformation marks a radical rethinking of how an organization uses technology, people and processes to fundamentally change business performance.” But what do those buzzword-y definitions actually mean? Well to put it simply, a digital transformation strategy is a plan of action for a business intended to strategically position it in the digital economy.
Why Should I Care?
The biggest reason to care about a digital transformation strategy is because technology is only becoming more integrated in our lives. According to CIO 59% of 373 IT decision makers say that the global pandemic has placed pressures on their company’s digital transformation efforts. All of these companies have had to accelerate their plans in response to the dramatic shift in consumer demands over the last year due to quarantine and stay at home orders. Some of these demands might waiver as the world shifts back to normal following the creation of a vaccine. However, many experts predict that a lot of the changes that we have seen in consumer buying behaviors might be here to stay (check out our articles on ecommerce and social media for more information). Any business that wants to not only survive the next few years but to thrive needs to have a digital presence. That business also needs to be ready to adapt and innovate at the drop of a hat. For that reason your company needs a digital transformation strategy.
It seems intuitive that the digital transformation would be led by those in the company with the most experience with technology. Surprisingly, this is not actually what is recommended. Instead, the senior leadership team (especially the CEO and CIO) should be the ones blazing the trail. It will take the combined efforts of all departments to make sure that your company is ready to take on the digital transformation strategy that will take your company to new heights.
Obviously, your technology team will need to develop the tools in order to make your business technologically savvy enough to perform this digital transformation. Furthermore, you will need your creative team to find new ways to draw customer attention to these developments. Finally, your management team will need to design and implement the most efficient uses of these tools for your business. Interestingly, a digital transformation strategy requires the cooperation of the entire business.
Creating a strategy to overhaul your business might seem like a daunting task. However, we at Jonajo consulting are here to help you. We can offer support in the areas of technology, creativity and management that will help to make your business’s digital transformation smooth and seamless. Check out all the services we offer and see how we can help you today.