How IT Companies Can Make their Workforce Digital Transformation Ready
We all know Microsoft and its flagship products Windows & Office suite, right?
Well, here’s a story about them.
Microsoft was facing strong competition from Amazon & Apple a few years ago in the cloud business.
At one point they understood the need of digital transformation at the right time and started investing in cloud networking systems. They changed their focus from traditional software to advanced cloud networking systems.
And now, Azure has become one of the world's largest commercial cloud business providers.
If a burgeoning software giant could apply digital transformation to not just its people, but also its strategy, and reap rich dividends, you shouldn’t have to be convinced to do so as well.
But let’s try anyway. So why exactly do you need to change your focus on digital transformation?
1. Delivering better customer experience
Nearly half of all companies say improving customer experience and customer satisfaction were the leading influences to start digital transformation. Source
Customers need businesses to respond fast to fulfill their demands. They expect the fastest response in every stage of the business process, so you need to carefully examine whether you can improve workflow at each step. Making a digital transformation shift will help you add more value to customer needs and retain your customers. For e.g. if you have omni-channel presence for your customers through chatbots, email support, mobile app, it helps customers to connect with you easily and get better customer experience.
We have an example of Nike in front of us. Few years ago Nike was becoming outdated. Then they incorporated a digital transformation strategy to improve their supply chain while focusing on digital presence. They not only opened their brand stores but started an e-commerce market with Amazon. Nike improved their online and app presence. And this helped them to keep in touch with customers, deliver products faster and improve the overall customer experience.
2. Making fast decisions with technology
You need to make fast strategic decisions in this competitive business environment and that is just impossible without the use of right technology. You can use AI technology to collect customer data at each stage of the customer journey, and perform data analytics just to understand customer behavior. If you have right customer behavior data, you can create more focused and customized solutions for each customer. This should be easy to do with the right tools.
You can follow the story of Hasbro, a toy company, to understand how customer data can help you make fast and accurate decisions. Hasbro understood the need to focus on parents rather than children. They used market data to create digital marketing strategies which were focused more on parents. So, the use of technology to understand customer behavior helped this toy manufacturing giant make better decisions & change the course of their marketing strategy to connect with customers.
3. Surviving digital competition
Companies must accelerate digital transformation if they have to survive their competition. Tomorrow your competition may come up with disruptive technology while displacing all the existing processes, and this may force you to either adapt to the new technology or perish.
Let’s take an example of Blockbuster. Blockbuster, one of the biggest players in the DVD rental business did not see digital transformation coming and lost the whole business to Netflix. In the initial years when Netflix started the same business, Blockbuster gave a tough competition. And then Netflix comes with an innovative idea of subscription based model, wherein a user can subscribe to Netflix on a monthly basis. Netflix later shifted focus to digital presence and started streaming programs online with the same subscription model. Wherein Blockbuster remained stubborn towards adapting to new technology and stuck to their old model just to get out of the business.
Let’s try to summarize: Digital transformation is a huge responsibility but if you implement it in the right way, it will produce a sustainable business. Keep customers as your center point of digital transformation strategy. Use as much as data to understand changing behavior of customers and align your product/services to fulfill these needs. Constantly keep an eye on changing technology, disrupt yourself and adapt changes so that you can deliver better customer experience over your competition. We can walk you through digital innovation processes every step of the way, to help ensure you get the most possible out of your investment. Feel free to ask us any questions and get a free consultation when you reach out to us through our contact page.
Nishi More is a Marketer and content writer at Interview Mocha. A writer who enjoys helping small businesses meet their hiring needs. When not writing she enjoys reading motivational books, latest trends in recruitment technology & exploring new places.