Business executives have long recognized the need for digital transformation, but many organizations still have a long way to go to achieve it in their business.
Many businesses have yet to implement digital technologies and methods of operation on a large scale. Or cultivate a culture that welcomes experimentation, change, and ongoing learning. Other businesses are considering complete makeovers, but they haven’t gone beyond the conceptual stage.
How can businesses then accelerate their digital transformation? The solution is to envision the future and gradually develop the technological and human capabilities necessary to realize it. And the best way to do this all effectively is with the help of digital transformation consultants.
A strategy for digital transformation outlines how a firm might use technology to add value, enhance the customer experience, and spur expansion.
Customer interaction, digital marketing, operations, digital innovation, transformational leadership, and data and analytics are the six main components of a digital transformation strategy.
A digital transformation strategy’s objective is to assist firms in remaining competitive while keeping up with the rapidly evolving digital enterprise landscape.
A roadmap outlining the actions a business must take to adopt a digital strategy is frequently included. The roadmap should be customized to the needs of the company specifically and should consider the organization’s present situation, its ideal future condition, and the gaps that must be addressed to get there.
A strategy for digital transformation should also outline how the company will use analytics and data to guide decision-making.
All of this sounds like a lot. And it can be, even for a smaller business. A lot of work and you are already so busy building a business that you barely have time for a coffee break most days. This is just one of the (many) reasons that turning to a team of experienced digital transformation consultants for help can be a great move.
As we mentioned, you are busy building and running a business. So why should you need to worry about this digital transformation stuff right now?
Organizations can follow the most recent digital business trends, increase efficiency, enhance agility, and create new sources of revenue with the use of a well-defined digital transformation strategy. Businesses can automate processes, examine and interpret consumer behavior, and quickly adjust to market changes by integrating digital technologies.
Organizations must have a digital transformation strategy in place for a variety of reasons. First, more and more of the world is becoming digital. As a result, businesses must be able to communicate digitally with both their clients and staff. This calls for a different mindset and set of abilities than what was previously required.
Second, the importance of digital technology is growing. It is altering how we work, play, and live. Organizations must therefore be able to benefit from these technologies.
Third, embracing digital transformation can make businesses more agile and receptive to the market’s shifting demands. Fourth, it can increase productivity and help businesses save money.
Finally, it can assist businesses in enhancing the customer experience, cultivating loyalty, and ultimately increasing their bottom line.
In short, businesses without a focus on digital transformation will get left behind, however good their products and/or services are in a world that is increasingly digital dependent. And that’s the last thing any business needs.
As actively engaged digital transformation consultants, this is the question we are asked most often by prospective clients.
Every digital transformation is different, because it should be. No two businesses operate in exactly the same way, and so you cannot set a ‘standard’ for digital transformation. One of the biggest strengths of our digital transformation consultants over others is our ability to tailor everything we do to a client’s specific and unique needs.
There are some basics however that every digital transformation strategy will include:
The following three essential elements should be covered by a solid digital transformation strategy:
Goal Setting – What are your objectives?
Technology – Which tools would you need to employ? How are they going to be paid for and implemented?
Individuals – Who will drive this change? Who will be affected by it and how?
A digital transformation strategy’s objectives should be specific and quantifiable, with an emphasis on customer experience, business growth, employee engagement and innovation. Your people must be equipped with new skill sets and toolkits while technology should help you adapt to shifting client wants and trends.
So how will digital transformation consultants from Pearl Lemon Consultants help with your business transformation efforts? By following a basic roadmap that we tweak, custom tailor and personalize especially for you. What does that look like? A little bit like this:
Identifying your business goals is the first step in creating an effective digital transformation strategy. What do you hope to accomplish? What do you envision for the company’s future? Before deciding on any further actions, you must be able to respond to these questions. We’ll be asking them, but your key players will be the ones we’ll need to answer them.
Knowing your primary objectives makes it simpler to discover the critical factors that will enable you to attain them. For instance, if one of your objectives is increased client retention, you must determine what factors, such as value, cost, and ease of use, affect your customer retention rates right now.
Determining your company’s existing state comes next. This entails taking a step back and analyzing your present practices to identify the KPIs that are significant to you. What motivates it, for instance, if customer retention is one of your primary goals for digital transformation? One of the main forces may be value.
The next step is to decide on the ideal state for your company. This entails analyzing your present data and then visualizing a scenario in which you achieve your main objectives. What would the desired client retention rate be, for instance, if one of your goals is customer retention? While achieving 90% would be ideal, anything more than 80% is an excellent goal.
Once you’ve identified the state you want to be in, we’ll ask you to think about what would happen if you succeeded. This might be accomplished by estimating the amount of revenue that would be earned and the number of new clients you would acquire over time.
What would happen, for instance, if your objective was to raise the client retention rate from 80% to 90%? The chances are the anticipated revenue and the number of new customers would both rise. But what would that mean for staffing levels? Or other basic logistics? You’ll need to be prepared for success.
All of this worked through, we will then start the serious work of determining the steps that must be completed in order to reach your goals. This will be accomplished by outlining all the essential tasks needed to accomplish the goal and determining how they should be carried out.
For instance, developing new digital marketing campaigns might be called for to boost consumer retention. But how? What new hardwares, softwares and basic human talent will you need? Will training or retraining be involved? Who will need to be involved? If you need new talent, where will you find it? We will work with you to ensure that your digital transformation strategy answers all of the relevant questions.
Rome wasn’t built in a day and digital transformation can’t be achieved in a week. For digital transformation to be successful, and for that success to be sustainable, you’ll need a digital transformation consultants team who are in it for the long haul.
This means that what you don’t need is a team of digital transformation consultants who will help you create the strategies we’ve just discussed and then pack up their stuff, wish you luck and leave. You need a long term partner who is as willing to do the work as you are.
Ongoing digital transformation consulting can take many forms, and you may need us to help with a lot of stuff. The training that your team might need to execute those improved digital marketing campaigns? We can provide that.
The help you need in sourcing the best hardware and software? We can help there too. The new talent you need because the core competencies needed to execute areas of your digital transformation strategy just don’t exist within your current team? We can even help there.
In short, Pearl Lemon Consultants will serve as an extension of your team for as long as you need us to. Digital transformation itself never ends because the digital landscape is always shifting. But the easiest way to keep up? Get started today.
Are you ready to learn more about the benefits of partnering with Pearl Lemon Consultants for talent management consulting?
Get in touch with us right away and let’s chat about it.