COVID19 has many nicknames – From GameChanger, Chief Transformation Officer, Change Agent to Chief Change Officer – One thing is clear, C19 will not leave us the way it met us! What does that mean for your business? How does you business need to change to avoid the adverse impact of this ongoing change? How does you business take advantage of the Digital Wave set in motion by Hurricane C19? Businesses that fail to transform will likely be left behind and risk losing their place in the market.
Digital transformation is the process of using digital technologies to create new — or modify existing — business processes, culture, and customer experiences to meet changing business and market requirements. It comes with the integration of digital technology into all areas of a business, changing how we create, deliver, capture and defend value. Digital transformation allows you to upgrade just about any part of your business more easily and cost effectively than just 5 to 10 years ago
Lets look @ Growth – 5 growth strategies you should consider to digitally transform your business.
#1 – Its all about Data
Data is the new Oil! Perhaps you have heard that quote before! Its all over the place. Data is clearly not your enemy. How do you use data within your reach to turbo charge your business? You can create more opportunities to collect Data and transform every business engagement opportunity into a Data Opportunity. For examples, you can has Cashiers that just sell and can subscribe your customers to a loyalty scheme or simply subscribe them to their newsletter.
You should also consider cloud services that makes it easy to consolidate your data and make them more accessible to multiple data sources.
#2 – Experiment with new sales channels
One thing common to the startup Environment is the need to keep experimenting and any sound business interested in the owning a piece of the future needs to invest in active experimentation. Investing in finding Products Market fit and improved Distribution are two things any business could start with.
This will naturally lead you towards digital technologies real quick that allow you to create exciting new products or expand your channels and capture a dynamic base that can easily transform your your value proposition. This can include an web & app strategy, mobile strategy, Content Development and Management Strategy, Online Customer Acquisition Strategy, Customer Engagement strategy that will include chatbots, Data Acquisition Strategy.
Developing a winning product and creating a viable distribution framework are more ideologically similar than you’d think. When you develop a product, you look for gaps in the market and perform experiments to solve those problems. As you do that, you build confidence in your product, because your experiments are drawing feedback from early adopters.
Gr#3 – Optimise your business
Existing Business invest for the long term and this does affect their ability or willingness to look at their business with a view to making the hard decisions required to run efficiently and smartly.
Take for example the idea of going to the cloud, it may spook out some business but do you know that a lot of your critical services such as email and most apps for the most part run from the cloud? So the excuses like Security and others are nothing more than Excuses today.
Digital Technologies can transform your Operations in many ways and take away many headache that organization have to grapple with. Lots of company provide SaaS – Software as a Business solution that abstract a lot of your operational concerns and give you simple business interfaces that can transform your experience as a business owner or Entrepreneur.
#4 – Automate Everything
Completely automous Business are a close but that is perhaps still a dream for most hands-on business but this probably closer than we think. For technologies like 5G for example create experience that go beyond our performance perception but significantly empower or enable machines to engage and deliver programmed objectives with more certainty and definitiveness. So the fully autonomous business is just round the corner but today what you must do is automate! You must do whatever you can reduce human intervention particularly with repeatable tasks and let your human resources do more higher quality activities in the promoting and development of your business
So how can you automate your business today? You can start with some easy stuff.
- Lead Generation
- Set a framework for your sales pipeline
- Collect job applications
- Promote and Automate Events
- Remind a customer about an abandoned shopping cart
- Generate repeat business
If you need someone to talk to about Digital transformation for your business you can reach out to [email protected] for free consulting chat.