What Goes Into a Digital Transformation Strategy

According to a study conducted by Smart Insight, 34% of companies have already undergone a digital transformation. 

As of right now, we can only think and imagine what enterprises will look like in 10 or 20 years. Deloitte made a video with some future scenarios that could stem from the current digital transformation programs:

Although it sounds technical, a digital transformation strategy is not only about updating and changing the technology of a business, but rather, it is a complete metamorphosis of processes, culture, and guidelines. 

What are some processes that need updating during a digital transformation strategy?

The road to digital transformation requires a deep understanding of the digital landscape and informed decisions to move forward in the successful implementation of new operations.

Some of these include:

Role Transformation

One of the first aspects of process changes during a digital transformation strategy starts from the inside out, and from the top. The role of board members and C-level professionals will shift completely and decisions will need to be made when it comes transforming and creating new roles that are more in tune with the times. 

This article by IVC goes more in-depth into the new aspect of current roles and new roles that will need to be appointed. 

Redefinition of business strategy

As digitization continues, the behaviors and needs of customers are constantly transforming and businesses need to keep up with the changes. An example of this in retail is how customers find your products, and a report by Synchrony states that 85% of baby boomers research products on their web browsers. 

While when it comes to the way people make purchases and their preferences, 68% of millennials demand the convenience of omnichannel accessibility during their shopping journey (Accenture).

Now, these types of consumer behavior are occurring everywhere, so one of the first processes of a digital transformation strategy should be a redefinition of the business value proposition, catering to the digitized world and society. 

This table created by IBM Institute for Business Value puts it into perspective:

Better data management 

Now, with the launch of GDPR in Europe, every business had to make significant changes related to data privacy and management within their company. But with digital transformation, we need to look a little bit further than security. For example, aside from better protection and use, data could bring lots of value to a business when leveraged correctly. From learning information about customers to moving towards personalization. 

The incorporation of AI and Machine Learning for those purposes will need to be evaluated. However, we must not forget the importance of collecting and managing data in a serious and ethical way.

Read more about similar topics:

3 Simple Steps to Improve Security

Artificial Intelligence is Here & Changing our Everyday Life

4 Books & Articles To Rethink Customer Experience

Customer experience continues to evolve with the implementation of AI solutions to better leverage customer data. However, companies are still behind in innovating in customer experience. Actually, 54% of consumers say that customer experience in most companies needs improvement. (PwC 2018)

Just as with digital transformation, C-level executives are rethinking the way customer experience has worked in an enterprise. And in order to move forward, it is important to sit back and look at a bigger picture. 

A great way to do that is by reading books to broaden our perspective on a topic. Here are 4 books and articles to help us rethink and innovate on customer experience:

Customer Experience Books & Articles

Rehumanize Your Business

We're so immersed in technology that it's easy to forget about the human side of things. The book Rehumanize Your Business: How Personal Videos Accelerate Sales and Improve Customer Experience, authored by Ethan Beute and Stephen Pacinelli, explores the value of going back to basics. It goes into the success of personal videos and close relationships to connect with customers and drive sales. 

AI & ML Revolution To Scale Customer Experience

Author and AI Specialist Oleksii Kharkovyna, dives into how Artificial Intelligence and Machine Learning can help scale customer experience. He touches on how AI is able to create personalized experiences by detecting and predicting the future needs of customers. While Machine Learning "allows to estimate the values of existing features and test them". 

Quoting from his article: 

ML helps classify which features resound with their customers and, eventually, optimize all angles of the customer journey. Hereafter, it can be used to test many kinds of marketing frameworks. For example, ML patterns will be used for developing mobile-based apps where shoppers can virtually try on garments they’re interested in buying.

Data Driven

Written by Tom Chavez, Chris O'Hara, and Vivek Vaidya, Data Driven discusses the disruption of data in the creation of meaningful connections. It includes real-world examples of how artificial intelligence and data are taking customer experience to the next level. From an overview of how we got here to actionable tips on harnessing data and AI to improve consumer relationships. 

The Effortless Experience

The Effortless Experience: Conquering the New Battleground for Customer Loyalty by Matthew Dixon, Nick Toman, and Rick DeLisi, breaks the mold by talking about the importance of going back to basics. Customer experience and customer service should not be a hassle. They set the focus on reducing customer effort and moving away from the premise of "delighting" to making experiences easier. 

What are your favorite books about customer experience? Tweet us to @outvise to let us know!