Drive to Reimagine

How to Effectively Use Digital Transformation Strategy to Grow Your Business in 2021

Farwa
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Jan 1
.
4-5 mins

Table of contents

Key takeawaysCollaboration platforms are essential to the new way of workingEmployees prefer engati over emailEmployees play a growing part in software purchasing decisionsThe future of work is collaborativeMethodology

In every business, whether small or big, in any organisation whether international or national, the involvement of digital systems at work and every task at hand. 

Businesses have long been using computers and many softwares to update data, upload data and take part in the globalization process. Talking about business, the use of creative digital solutions like systeme.io gives a competitive advantage to a business over other businesses in the business world. An appropriate digitalization plan can help reevaluate processes, improve quality and advance consistency. 

We will explore more about digital transformation strategies that can take your business to new heights in this digital age.


What is a digital transformation strategy?

Digital transformation new avenues to utilize technology to upgrade an efficient system for both sell-side domain of client interactions and purchase side cooperations with the supplies. It has been more than 2 decades that digital marketing is taking place through email marketing or through SMS or social media marketing. 

Hence, this trend is not new, however, the methods and strategies used in this ever-changing world are surely a new strategy to create a business world suited for the 21st century. 


Why is digital transformation needed?

Every business is going through a change in its work and in its style. Whether to deal with a business outside their business or to bring innovative changes in the conventional methods of the organisation, a digital transformation is needed. 

Not every stepping stone in your business would include a digital transformation process, however, it can be used in many areas where on-ground product alteration isn't needed. 

A Centre of Excellence model can be used to create a more personalised experience for the user. Firstly, in this model, businesses need to identify the customer pain points and then incorporate them into the business. You can use Big data or artificial intelligence in the system. 

Lloyds, being a traditional bank, has considerably improved their back end processing using straight-through processing (STP), realising that their traditional ways were causing delays in the processes that were annoying the customers. This ultimately led to huge losses for the business. Hence, they changed it adopting to the challenges of the financial software of the future.


5 reasons why digital transformation is needed?

  • Everyone needs on-service demand
  • Employees become more effective
  • Security is needed
  • Strengthen business partners
  • Make decisions faster

How to start off the implementation of digital transformation?

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Step 1: Analyze the situation and performance review

Your analysis of the situation will let you know how to transform the business digitally. The assessment of technological contribution to your company should be compared to your competitors. 

While conducting your analysis, these are the steps you need to undertake :

  • SWOT analysis:Each and every aspect of what and who your competition is and who you are competing with. . What are the qualities, shortcomings, openings, and dangers to the entire organization? You can use digital specific or a multichannel digital platform.
  • A close look at Competitors:Keep a close look at what your competitors are doing and which projects they are leading. Also, constantly evaluate their products too and see what are the things that they are doing better than your business.
  • Channel execution:You need to see how your channel or website is performing on the Internet. For example, SEO analysis the number of searches, social media with appealing images and beautiful videos created using online video makers,video ads and email advertising. Search Engine Optimization is used to bring your website content on top and to showcase it on the top and the utmost level of rankings.
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Step 2: Strategy and Management

Through proper strategic planning, we can keep clear cut goals, a lot of specific tasks to the digital team and align the digital marketing, hiring and other marketing through digital tools. 

For the transformation process, you need to choose key activities to accomplish your objectives. These may include decisions about investing, resourcing and managing.

The Deloitte CMO overview features how the transformation process can uphold business development strategies business.

Key Drivers of Digital Transformation infographic by Invonto
Image source


Digital transformation should focus on strategies that facilitate product development and market development. Digitalization is great progress towards providing digital services and entering new geographic or client markets effortlessly. Secondly, transformation strategy is related to market segmentation, position and target market.  Lastly, this may enable the organization to enter into new markets and new product offerings like selling online courses


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Step3: Prioritize Digital Initiatives

Every digital initiative that you undertake is and will be different in nature and investments. You can always start with a simple project with the most important features to test whether your business solution is digitally possible. 

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Step4: Create a Delivery Plan

A roadmap for each digital task, and detailed criteria for measuring results. You can also use certain softwares or through a certified digital professional. Make sure to identify all development processes to build standard practices and how they will be delivered.


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Step 5: Strategize

Incorporate the digital objectives of your plan into the businesses. With time, these strategies are conveyed as 'always on' over the client lifecycle. Planning coordinated and digitally integrated networks are needed to strengthen your digital marketing strategy, yet it can not be empowered if an organized transformation approach is not followed. 


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Step 6: Create a Budget Plan

Create a proper budget regarding the hiring of people (recruitment statistics) for digital tools, or buying the subscription of digital tools, and also for promoting your website online.


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Step 7: Action

Task plans and guides of activities are to be made part of this. You need to take the task at hand and start working. The stage is centred around transforming your plan into execution. The activity section covers what should be accomplished for every one of the strategies and objectives you have planned to execute.

A framework is designed to help and perform day by day assignments in different capacities that machines could do to diminish the pain points of the human labour force. It has changed the entire process workflow, resulting in better work management at the workplace and quality sleep at night. 

You can customize email automation and personalization of web pages. 

Ensure that computerized frameworks meet certain capabilities that make them easy to understand. Its main purpose is to guarantee that the reasons for having digital technology are taken care of. 

The frameworks should be productive, simple to explore,  implement and eliminate, simple to work with, without the need of any software, effective in taking care of errors, and should follow the set standards. You must not ignore the significance of being user friendly in all of your systems.

Nike’s digital evolution

One of the world's most famous clothing and shoe companies, Nike, felt they were becoming outdated and sluggish. Nike quickly began taking the important steps which include upgrading their digital transformation strategy.

They brought about digital transformations in their structure, supply chain and branding of the company and were able to interact with their consumers more efficiently. Nike revamped its marketing campaigns and e-commerce strategy by keeping the focus on data analytics. 

More proficient and viable utilization of consumer data drove Nike to set up their very own concept stores, enhancing customer experience both on apps and online. 


Additional tips for digital transformation strategy:

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Leverage effective digital technologies for your organization

Why leverage this sort of technology? From marketing and sales automation tools to accounting, operations, collaboration software and team management software - there are dozens of ways technologies can streamline some of the key aspects of your business.

Check how they could be made useful in future, comprehend their functions, and exploit the large information and data you collect. Services quality and work performance can be overall improved. 


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Use time management and social media management tools

Pick a time management tool that will help you keep track of the timeline you have set for your goals. Include your team members and keep them updated on current events. It is important to have an insight into the work performance of the entire team. Such smart tools such as Content Studio will make your organisation become more efficient in utilizing the time and efforts wisely.  



Automated digital tools are a blessing if managed the right way. Spare additional time by making the most out of social media management tools for your business. You will have the option to make content ahead of time and make a timetable for each task at the same time. In fact, you can save a lot of time with content curation and automating it.

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Keep your systems well encrypted and secured

Security is viewed as significant yet not taken as a need. Breaches in the system could be devastating to the whole framework of the company. Given that the digital world is huge, numerous viruses and hacking activities are probably going to occur and this is something that the senior leadership of the company should not ignore.

Ensure all data and information inside the organization are kept and made secure.

Tips regarding security:

  • Change your passwords every month
  • Make sure that all connections have VPN’s
  • Use two-factor authentication(2FA) in your business email accounts
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Enable self-service Tools

Today, clients are becoming more independent and self-sufficient. If anything, they choose it over contacting a live agent. In fact, 40% of consumers declare that they opt for self-service over contacting customer care agents.

 Self-service tools like a chatbot can amplify the speed and automation of your services. Chatbots are AI-powered solutions that facilitate customers' real-time self-service by providing immediate answers to their questions.

A fantastic AI-powered Chatbot comes in handy when trying to engage your customers via automated responses. Engati, being one of the best Chatbot tools, has excellent features which you can utilize to better your customer engagement and support. These features include Live agents as well as Intelligent bots.

Source


Engati’s proprietary machine learning-based e.Sense NLP ensures Intent and Entity recognition for intelligent customer support.

User-friendly UI and minimal coding build easy and timely conversation flows. Furthermore, automated responses in several different languages, including left to right languages, enables global customer support.

Using Engati, you can combine chats between AI and Live agents to handle complex queries timely. With Engati, you can manage queues, schedule work hours and even monitor agent availability and conversations.

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Make Centralizing digital solutions that can connect with other digital systems

The whole idea of making decisions based on plans regarding digitalisation is to build up an integrative business framework that creates an automated digital platform. Non-integrated digital systems can have barriers such as squandered efficiency of employees, a lack of continuous perceivability, and spending a lot on maintenance cost and complexities. 

Nonetheless, having an appropriately planned framework can create various advantages for the organization, for example, productivity levels, improved perceivability, investment funds on the expense, and development. An autonomous analyst firm called Nucleus uncovered that using an integrated platform, organizations accelerated their financial closing by up to 50%, and boosted their business profitability by 12.5%. Creating interlinks and adapting to smart digital systems fuel growth to every business industry. 


Source


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Establish a research and development department for your digital transformation systems

The motivation behind research and development is to boost the use of technologies. Shaping a capable R&D team to improve the frameworks for digital transformation activities offers the capacity to additionally investigate the capacities and employments of new and promising mechanisms. To hire the right candidates for your team, it's a good idea to rely on the right HR outsourcing solutions that fit your business needs and wants.

Innovations should not be stale since they become out of date over the long haul. It will undoubtedly develop and progress. With the presence of a group of researchers, the developers will have the option to stay aware of the demands of the market and may even emphasize technological advancement. Innovation must be put to its upgraded usage, and the team ensures that possibility.


Conclusion

People are so well aware of new technological tools that they often can handle their businesses themselves, but it is wise to hire an expert. 

Companies need to transform according to the upcoming challenges of the digital world. . You don't need obsolete innovation to continue managing your frameworks. Customer satisfaction needs to be the utmost priority of the business. New mechanical progression serves numerous uses. You simply need to know, comprehend, and use them appropriately.

It is high time to invest and utilise digital resources that have been proven to give powerful results in increasing conversion rates. The aim of digital technology should be to bring customers closer to the company. Installing the right technology is an absolute necessity to grow as it will draw the attention of potential clients who are eager to try out your newly introduced platforms and upgraded digital innovations. 

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Farwa

Farwa is a Digital Marketer at Content Studio who likes to share her experience via writing. She likes to test and experience new eras in marketing and let the web know of it. She specializes in affiliate and content marketing.

Andy is the Co-Founder and CIO of SwissCognitive - The Global AI Hub. He’s also the President of the Swiss IT Leadership Forum.

Andy is a digital enterprise leader and is transforming business strategies keeping the best interests of shareholders, customers, and employees in mind.

Follow him for your daily dose of AI news and thoughts on using AI to improve your business.

Catch our interview with Andy on AI in daily life

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