24 Oct Digital Transformation – The Key to Success
It is not actually a question as much as a question for discussion – if you do not have a culture that incorporates it. Let me explain how we need to think of transforming our firm.
Digital transformation refers to the way our firm views, responds to, and uses current information with the intention of creating value for society and/or the world. A paradigm shift in this area is needed as the world and markets around it continually change. This constant change is leaving firms with challenging tasks.
Transforming our firm is a challenge, as we don’t have the luxury of time to calculate and track in the same old way the industry leaders are doing it. We must adjust our thinking.
Digital Transformation’s solutions help our firm focus on the fundamental processes that let the firm succeed. These processes influence our attitude towards our customer base – for example, by understanding their problems and creating solutions that are appreciated and seen as alternatives rather than just price-driven solutions.
Having a Digital Transformation process will also give our firm a different skill set. It would be ownership of what you create, as well as a skill set that can shape how you create. Digital transformation is not about changing, it is about being true to what you create; but the underlying skills are changing – you can’t change your process without understanding it and you can’t undo additions to your process giving it a new skill set. That is why digital transformation is changing the way people look at work and it is changing the way that work itself is being done via IT.
Understanding the current state of your business to help with digitalization can lead to competitive advantage, performance and a better bottom line. The key is some sort of process in place. It can be as simple as writing a short story about a situation your firm had, engineering a 3 or 4 step process to get to the next phase and then writing up a short case study.
* I wrote this on my new iPhone, ” Shorey refuses to put gender of a typical “prospect” in the trash. “Armani is not often interested in the filters,” she said. “I think having a gender filter is a mistake. ”
* If your company has six employees with more than 1,000 visits a week, you have 6,000 opportunities a day – your staff is sitting around waiting for marketing to initiate a cold call.
* Bill Gates’ new book titled “Business at the Speed of Thought” — “Think and Grow Rich” reads as a great book for those who want to know the secret to business success (think, “think while I’m passing through”).
* Google’s 5 year plan began in the number 6 spot – now they are number 25
Dealing with today and tomorrow are extremely different. The strategies that worked 10 years ago are no longer as effective. Marketers need to be knowledgeable about their channel of distribution, their target audience, their business history and program, their goals for the future, and so on. Technology makes this information available in real-time, and a solution needs to be real-time as well. Digital transformation demands that firms plan for these changes and be prepared to respond. Making these changes will be difficult but not impossible.
Transforming. It is the key to tomorrow’s success.