Published on August 18th, 2021 | by Sunit Nandi0
How to Start Developing Your Business’ Digital Transformation Strategy
Businesses that embrace digital transformation tend to thrive. Through digital tools and solutions they can optimize productivity, boost customer satisfaction, and stay competitive.
You may understand this. However, you might not know how to develop and implement a digital transformation strategy at your business.
Don’t let that stop you from moving forward! If you’re not sure how to begin working towards digital transformation, the following tips will help:
Establish Your Team
Digital transformation is much easier to achieve efficiently when you assign a team the task of developing and implementing your digital transformation strategy.
The people who make up this team will vary from one business to another. In general, though, they need to be in a position to make lasting change at your company, they need to represent the various areas and operations of your company where digital transformation may yield the greatest value, and, of course, they must at least appreciate the value of new technology. Ideally, they’ll be very tech-savvy themselves. In fact, most digital transformation teams involve at least some members of IT departments. Their familiarity with new technologies can give them unique insights into how digital transformation may take place at a business.
It’s also a good idea to involve some of your most creative employees. There are many ways to implement a digital transformation strategy at a company. Creative workers may come up with ideas that hadn’t occurred to others.
There’s no shortage of case studies and articles covering how various businesses and organizations have successfully undergone digital transformations. Search for case studies involving businesses in your industry, if possible.
It’s best to focus on case studies that are relatively detailed. They should explain some of the specific elements of businesses’ digital transformation strategies. Studying how others have facilitated digital transformation can help you better understand how your business can do the same. You don’t need to develop an identical strategy, but you can benefit from using some of a competitor’s ideas.
Set Clear Goals
Digital transformation can help a business achieve many goals. For example, surveys indicate 80% of businesses have seen profits increase as a result of digital transformation, and 70% of business leaders report that digital transformation has improved the customer experience and engagement.
Others also report that digital transformation can have a positive impact on company culture overall. Because digital transformation promotes easier collaboration, collaboration becomes a more natural element of a company culture after digital transformation occurs.
Don’t implement a digital transformation strategy just for the sake of doing so. Work with your team to set clear goals. This will help you determine how to best devote your time and resources when actually putting a digital transformation plan into action.
It’s also ideal if at least some of your goals are measurable. For instance, while you may not be able to objectively calculate the positive impact of digital transformation on company culture, you could potentially determine how much digital transformation has contributed to a rise in profits.
You can start planning your business’ digital transformation right now. However, digital transformation itself doesn’t occur overnight.
That’s because it isn’t just one task or process. Digital transformation can involve making a wide range of changes and upgrades throughout a business.
Don’t merely set goals when collaborating with your digital transformation team. You also need to prioritize which goals are most important.
This will help you implement your digital transformation strategy in a more natural and efficient manner. When you’ve prioritized your goals, you can set a schedule, determining how to facilitate digital transformation in the smoothest, most cost-effective way.
Digital transformation involves using the right technology and tools to achieve business goals. Thus, you need the right tools to help your business undergo its digital transformation.
For example, part of your digital transformation may involve embracing a new content management solution. You have many options to consider when choosing one.
That’s why you need to set aside time to research your various options sooner rather than later. You need to thoroughly understand the benefits and features of different tools. You might also want to test them out before deciding which to begin using on a permanent basis.
If you rush into digital transformation without having taken the time to evaluate your options, you could end up choosing tools and solutions that don’t deliver the value you need. Avoid this by exploring your options from the start. This will also give team members more time to familiarize themselves with new tools, ensuring they’ll be more accustomed to using them (and training employees to use them) in the future.
Unless your business is very small, it’s unlikely you’ll be able to involve every employee when developing a digital transformation strategy. However, digital transformation may potentially affect every employee’s work in some capacity.
Thus, as your strategy starts to take shape, it’s smart to let employees know about your plans. This will help them prepare accordingly.
It can also theoretically boost employee engagement. When workers learn an employer is taking steps that will ultimately allow them to be more productive and serve customers better, their enthusiasm may be reignited.
Just be careful to avoid causing concern among employees when sharing this information. For instance, one aspect of digital transformation often involves automating various tasks. As such, when some workers hear an employer has plans for digital transformation, they interpret that to mean their jobs are at risk. Make sure you’re not giving that impression if your goal is to undergo digital transformation while minimizing the degree to which you reduce your workforce.
Be Prepared to Shift Course
These tips will help you begin developing a strong digital transformation strategy. However, many businesses have had to adjust their strategies once they’ve begun implementing them.
Prepare to do the same. You shouldn’t expect your digital transformation strategy to be “bulletproof” when you finally put it into action. There will be reasons to modify your approach. Luckily, if you see a strategy through to its conclusion, you’ll enjoy many benefits.