October 1, 2024
The COVID-19 pandemic has taught us that if a company is unwilling to adapt to the modern way of operating, it will quickly become irrelevant. Today, going digital is not a want but a must for all companies that want to stay ahead of the competition. Let's learn how to approach the transformation – and how not to do it.
Some entrepreneurs might mistake digital transformation for buying certain digital tools and hoping for the best. However, this is not exactly what digital transformation means. The term refers to the integration of cutting-edge, modern technology into all areas of business operations, resulting in major changes in the way a company operates and delivers value to customers.
In other words, going digital often means saying goodbye to the old way of doing things and accepting not only the change but also the risk of failure. After all, experimentation is the key to innovation. Innovators don't always succeed, but they're innovators because they keep going.
Customer behaviour changes over time, and if a company is unwilling to adapt, sooner or later, it will simply be beaten by the competition. So, the answer to the title question is simple: to survive. Today's customers want to do everything digitally, and customer satisfaction is the key to success – regardless of the size of the company.
The average person today is constantly bombarded with opportunities; and if they want something, they will get it. If you can't give it to them – they will find it elsewhere. That's why it's so important to ensure their satisfaction at every stage of the interaction process.
A good example of the digitisation of entire sectors is the SIM card sector. Today, phone manufacturers are installing chips that enable their phones to operate with eSIMs: fully virtual SIM cards. eSIMS can be purchased and activated online, are environmentally friendly, and can even make travel cheaper. Customers can use the eSIM app to buy the best eSIM for a specific country to save on roaming, and all this is possible without leaving home.
Since this solution is much more convenient than the traditional plastic SIM card, customers will soon expect both phone manufacturers and SIM card providers to offer eSIM solutions. Those unwilling to adapt may simply fall out of the market.
If you're convinced it's the right time to go digital (and we think it is), keep reading for some tips on how – and how not – to do it.
In the modern world, we're surrounded by all kinds of products and services marketing. If a customer can't spot you in a crowd, they won't do business with you. The modern customer also likes to spend time on the internet, and as all marketers know, a company has to go out there to get noticed.
This approach doesn't mean abandoning more traditional marketing campaigns altogether but rather doing proper research and developing a fitting strategy. The best way to market a company depends on the type of company and, of course, the type of customers. With this in mind, most companies can benefit from investing in online and social media marketing.
Everyone knows Kodak, one of the biggest photography brands. However, not everyone knows that Kodak failed precisely because it lacked the will to embrace change. The world was moving, and Kodak was unable to follow, so it was left behind.
Kodak was a leader in photography. But even though it was a Kodak engineer who worked on the digital camera, the company was hesitant to move to the new technology because it feared it would destroy its film-based business model.
It's an example of how resisting change can put you out of business, as the world will simply move on without you. So, when everyone goes digital-first - don’t ignore the sign to follow them.
Saving money on digital tools and staff may be tempting, but it's not always wise, especially regarding cybersecurity. Going digital is an opportunity for a company, but it also poses risks – some of which are entirely new. It's better to research the organisation's needs and choose good and secure technology solutions.
The same goes for employees and employee training – it's not wise to save on these aspects of a business organisation. The potential consequences can be serious, especially when it comes to cybersecurity.
No one knows everything, and that's okay. You don't have to and shouldn't approach digitisation alone. In fact, it's always good to compare ideas and listen to peers who may see things from a different perspective, not to mention who might be more knowledgeable in digitalisation and certain tools.
Appreciating your team will also ensure that they stay motivated and engaged, which always bodes well for a company.
A well-functioning company is like a machine. When the gears turn, the machine works well, but when one of the gears stops, all functions can be affected.
When your company goes digital, you need to think about all the teams and projects that need to be involved. Otherwise, you're likely to encounter obstacles, such as poor communication between departments and friction. It can be avoided by taking a holistic approach to digitisation and thinking about all functions of the company rather than just the chosen ones.
