5 Steps Towards a Successful Digital Transformation
We are living in a digital world! But, what is being digital? Digitization can mean different things to different business leaders in an enterprise. However, distorted perspectives only lead to misguided efforts complicating the digital transformation or even worse thwarting it. So, read on to learn why digitization is so important and the five things an enterprise must follow for a successful digital transformation.
Why Get on the Digital Bandwagon?
Irrespective of the entire digital wave, industries are less than 40% digitized, with retail at 55% , travel transport and logistics at 44%, and healthcare systems and services at 51%. So with digitization still a long way to go, there are plenty reasons for an enterprise to go for a digital makeover. According to by McKinsey, all the established big corporations surveyed have a high Digital Quotient. They were closely followed by industry entrants, the emerging leaders with an average digital score but incessantly growing digital prowess. The companies at the bottom were found to be having a below average digital capabilities sporting an indifferent stance to digitization. So clearly digitization offers huge potential for growth across industries and sectors.
Five Key Aspects You Must Get Right From the Start
Define your digital strategy
The implication of digitization pervades beyond technology. It not only influences an organization’s business model, products and services, but has a far-reaching impact on each and every vertical of an enterprise, such as marketing, HR, finance, technology, distribution, etc. It is critical that a digital plan is backed by a robust, well planned, foresighted strategy, which in turn must be in sync with the business goals or corporate strategies.
A well-integrated strategy helps an enterprise decide the digital scale it should reach, from a small scale transformation in one of its verticals to a fast paced adoption to capitalize on industry evolution. It empowers organizations to take calculated risks and invest in creating an infrastructure and culture that promotes effective collaboration across verticals minimizing friction between them and enabling a smooth transition.
Map your digital plan long-term
But how do you design a well-integrated digital strategy that coherently aligns with corporate strategy and most importantly ensures its long-term success? Well, you can take a cue from the research conducted by McKinsey. Accordingly, mapping your digital efforts along these parameters, that is, business processes, product and services, marketing and distribution channels, supply chain, and new entrants, can help an enterprise explore opportunities and threats and accordingly channelize its digital efforts and investments. Get data-driven insights to track how competitive your strategy is, empower decision making, evaluate financial feasibility, monitor industry trends, and anticipate competition.
Follow 3 mantras for success
Risk, innovate, and collaborate are the underlying mantras of any enterprise, riding high on digital success. With customers at their focal point, these enterprises continuously take a calculated risk, think out of the box, and collaborate extensively to deliver personalized customer engagement. They use digital expertise to map a customer journey right from its initiation to the end enhancing customer experience wherever possible.
A supportive and collaborative work culture, in turn, mitigates rivalries strengthening and facilitating smooth execution of initiatives. They understand the importance of being creative and innovative to devise captivating ways of engaging customers and delivering personalized experiences.
Invest in relevant technologies
Being future-focused and investing in relevant technologies with the flexibility to upscale in the future is critical to long-term digital success. Investing in futuristic location-based technologies like Beacon, Wi-Fi, Proximity, Geo-fencing, NFC assures a return on investment for enterprises through enhanced customer engagement. Personalized digital engagement encourages customers to research, interact and participate in marketing campaigns proactively, and this further strengthens customer-brand bonding. Analyzing mismatches between opportunities and investments provide important cues to reassess the direction of investments. Leading companies were found to be more aggressive in investing in future customer engaging technologies.
Transform customer engagement with Proximity
Technology is integral to digitization. Deciding on the right technology is as crucial as designing the strategy itself. Location-based technologies like Beacon, Wifi, Geofencing, Proximity is revolutionizing the industries like retail, hospitality, travel, and aviation, stadiums, etc. by delivering unmatched connectivity and uninterrupted experience to its customers. Digital consumers value convenience and comfort and Proximity technology is the best way to deliver on high customer expectations.
It perfectly leverages the two most influential trends of the modern time– the widespread reach of mobile devices and digital disruption to create a win-win situation for enterprises and consumers. Mobile devices have become an inevitable interface for consumers to research, share, connect and even purchase instantaneously. The proximity platform capitalizes on this growing trend to create an opportunity for the marketers to reach out to their customers anywhere, anytime. Proximity marketing is credited with bringing the digital advantage to the retail outlets; turning the stores into a digital playground with the deployment of beacons across their aisle. Proximity offers great potential to transform customer engagement for any company thinking of going digital.
Proximity MX: Digitizing your Physical Spaces
These five aspects help an organization figure out where it stands in the digital maze and consequently design a digital plan which is integrated and aligned coherently to its core corporate strategy. A plan that is competitive, relevant, sustainable, and most importantly has high potential for successful transformation. If marketing and customer engagement happens to be the key dimension of your business where you want to enhance your digital capabilities, then Proximity MX, the location-based technology platform, is a tailor made solution to help you reach out to your customers, understand their behavior, and keep them involved through personalized engagements. Proximity MX connects with the backend CRM and generates contextual intelligence which helps you understand your customers’ preferences, behavior, shopping patterns, etc. so you deliver unmatched customer experiences across touch points.
Request a demo to know what Proximity MX can offer and how it can help you design digitally enhanced customer engagement campaigns and programs.