Digital adoption is no longer just an add-on feature to existing channels. Rather, many features of the customer experience are digital by default. Perhaps ten years ago you could have showed some temporary slight resistance to digital transformation but nowadays, it’s survival of the fittest in a digital-centric economy.
This era sets the scene for a new sort of leadership, and a new generation of business thinking that supports the digital mantra ‘adapt or die’, taking inspiration from Charles Darwin’s evolution theory that describes “It is not the strongest of the species that survives, nor the most intelligent, but the most responsive to change.”
We are at a unique time in history as several very powerful technology trends begin to emerge. Big Data analytics, cloud computing, robotics, virtual/augmented reality and drones all follow Moore’s law essentially describing an exponential improvement in performance whilst continuing to decline in cost.
In today’s globalised world an organisations success depends on how effectively it can orchestrate a holistic digital focus over the vast global network of supply chain partners.
This is all well and good for companies with huge economies of scale and infrastructure to support continuous improvements in technology. But what does this mean for brick and mortar stores with neither the time nor resources to invest in digital transformation?
You’re screwed if you want to expand but it couldn’t hurt paying attention to the below managerial focuses to thrive in a changing environment.
1. Prototype Your Strategy
All great businesses continually seek ways to make processes more efficient through ongoing trial and error to improve customer experience. Find time to create a culture of ongoing improvement and create a business that is always flexible and ready to move. Instead of thinking every change need to be big and dramatic, make small changes consistently and look for those 1% gains and things you can tweak, improve, introduce and adjust to help your business run more efficiently.
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2. Reimagine Customer Journeys Back to Front Using Digital Technologies
Try to step out of the office and try to establish a new perspective by putting yourself in the consumer’s shoes. Do some research, talk to people and try to understand their pain points with your product. Identify current operations and processes that are falling behind and need to be remodelled. Then apply these insights towards your overall strategy to guide digital evolution and improve the overall customer experience.
3. Digitise Your Core Business
You can do this, by understanding, strengthening and deepening customer relationships. Simplicity is key, remove all barriers to entry, as customers want quick and convenient transactions through simple interfaces. Think about what areas of the business digital efforts can bring the biggest changes in value for your customers. Those who succeed are nimble in their ability to adapt to changing requirements and develop innovative value propositions through a digital filter.
Author Bio: Mat is a digital marketing specialist whose passion for connecting with consumers through online channels is perhaps only outmatched by his love of backyard cricket. Before embarking on a career in search marketing he joined BizWisdom from a creative advertising agency where he specialised in digital production and multi-channel campaign management. When he isn’t searching for new ways to reach online marketplaces for his clients, you’ll find him out and about keeping fit, discovering new music, movies and local hangouts around Melbourne.