How to Stay ahead with Digital Business Transformation

Digital business transformation, apparently quite a self-explanatory term, is actually a little difficult to grasp for any individual but not for a digital marketing company in Delhi, Noida, Gurgaon where the professionals are looking forward to this kind of change. Not every digital element you add to your business is revolutionary. Many people confuse it with digital business optimization.

If you think the two terms are synonymous, or worse, you have no clue what either of these terms mean, you must read this article to keep yourself updated. If you know what it means but need to find out how to go about the process, keep reading. Here you will find everything you need to know.

What is Digital Transformation:-

It is about transforming or revolutionizing your business by making it go all Digital. Times have changed. The internet era has taken over business, marketing, sales, branding, customer relationships, everything. Businesses that didn’t yet manage to go fully digital are losing out.

Digital business transformation is the process of strategically implementing all available digital solutions to gain maximum speed and efficiency in every aspect of your business including the business model, processes, actions, and conversions. If you do not go for optimizing the performance of all the sectors of your business with the latest digital technologies, it does not count as transformation, but as an optimization or an upgrade.

The Process depends on the following Factors:-

·         Technology innovation

·         Customer demand

·         Customer behaviour and action

·         External factors

Digital transformation is not limited to replacing traditional methods of sales and marketing with digital technology. It also includes studying the customer behaviour to gauge the next best move for maximum profits. You transform your business when you use digital transformation to experiment with various new ways to represent your business and find a wider demographic to sell your products to.

Why do we need this Transformation?

 But it is a necessary change as the businesses that get digitally transformed have noticed easier connection with their customers.

This ends up speeding up the pace of revolutionising the business solutions and can claim greater profits in their domains. This change also results in the growth of consumer’s loyalty towards the brand.

How to do it?

Keeping up with the digital revolution in business is not easy. Even if all your employees are competent enough to grasp the new technology and concepts, being able to synchronise the performance of every sector to make the business run smoothly after such a huge change is something that will not happen overnight. This is why we need a strategic course of action to apply digital transformation business process to our companies.

Here is a step by step guide to a strategic course of action that will land your business on the other side of digital transformation.

1] - Conceptualisation:-

Employees, owners, partners, sponsors, everybody need to understand the emerging concepts they are concerned with. Everybody needs an orientation specific to their area of work. Every sector needs to know its position with respect to that of their competitors in the new digital era. Once this preliminary understanding is done, the organisation can move on to the technical analysis.

2]  Analysis:-

This step involves the analysis of the potential result of the old processes and its comparison with the potential outcome of a transformed set of processes.

This will help the organisation decide where to start and what to prioritise during the course of the transformation. The key focus areas are revenue generation and consumer satisfaction.

3]   Identification:-

After the key areas of focus have been determined, the business needs to identify part of the business process management (BPM) to begin with. Different things take precedence for different types of business.

4]  Comprehensive decisions:-

After identification is done, you need to set up official meetings with the key stake holders, the operations and management teams, and everybody important in order to come to a comprehensive decision about the next steps to take in the new BPM strategy. After considering the budget, time constraints, short term profit goals, and primary campaign strategies, the final priority list is made.

5]  Implementation:-

This stage of the entire digital business transformation process involves the implementation of the final plans and course of action. The action processes need to be revamped and relevant technologies must be implemented in a more quick and efficient way.

6]  Publicity:-

None of the changes you made holds any value if the potential customers don’t see it. You need to demonstrate your future goals and set a strong foothold in the new digital market. The feedback should be digitally analysed to go on to the next step.

7]  Resource management:-

While embarking on a radical transformation in business, one must make sure the primary resources are sustainable. The primary resources refer to the money, and the employees. Some digital transformation business process ventures go wrong because people make a blunder in their money and human resources decisions. They try to save cost and let go of the old employees.

The right thing to do is not be a miser when it comes to investments. First you need to stabilise the revenues and meet your goal profit margin with the new system. Only after that you can tweak up the processes to reduce the operating costs.

As far as employees and key business heads are concerned, it is always good to roll the new systems into the old human resources by training them for a digital upgrade. When you go for a new set of BPM with a new set of employees, you are headed for a train wreck.

Now that you know that digital business transformation isn’t just about rolling out new mobile applications, or replacing employees with intuitive chatbots, it is time to start slowly and steadily in the direction of a comprehensive business transformation.