By blending people and technology capabilities, companies can kick-start their digital transformation, yet it is crucial to have a solid framework to commence transformation.
Digital transformation isn’t a new focus for business leaders, yet in many cases, companies have a long way to go. Many companies have yet to apply digital technologies and ways of working at scale. Let alone creating a culture that embraces change, experimentation, and continual learning and improvement. Other companies are planning end-to-end transformations but have yet to move beyond the drawing board.
So how can companies drive their digital transformation? The answer lies in creating and aligning the future vision of the company and steadily building the capabilities - both technological and people based - that let you achieve it.
Put simply, digital transformation is the process of using digital technologies to fundamentally change the way a business operates. This can involve anything from implementing new software to redesigning the customer experience.
It has been suggested that approximately 30% of companies successfully navigate a digital transformation. Navigating transformation amid uncertainty - our new reality - is especially challenging given the fluid expectations of stakeholder groups that take shape and evolve at hyper-speed. Our approach at Brand Anthology is focused on crafting solutions that make a compelling difference to your people, your customers and your business, blending technology and people capabilities - and applying them to all aspects of your business.
There is no silver bullet. Digital transformation succeeds when focused on incremental, cost-effective, and sustainable outcomes for the business. Consider new product development or diversification, improvements in processes, and other use cases that, one by one, allow the business to build buy-in, capability, and value.
At Brand Anthology we have learnt fast working across several digital transformation projects and developed the following factors we recommend in helping business leaders navigate the foundations of successful digital transformation in their business.
Unified strategy - your strategy should bring together the organisation's aspirations, an overarching strategic purpose, strategic initiatives, and quantified business goals.
Leadership commitment - from CEO to middle management, in creating excitement and engagement all functions of the business are engaged.
Sourcing talent - high-calibre resources including digital, technology and change management skills are key.
Agile governance - adopting an agile mindset, principles and culture throughout the organisation.
Effective monitoring of progress - Clear metrics and accountability for milestone/project delivery.
Business-led tech and data platforms - Specifications and build in line with business requirements.
Further to the six factors above, and having led several digital transformation projects at Brand Anthology we have found the organisational-wide adoption of Experience Management (XM) is a crucial factor in the success of digital transformation projects.
XM is the process of understanding, managing, and optimising the experiences that customers, employees, and other stakeholders have with a business. XM is a valuable area of expertise for businesses that are undergoing digital transformation.
The application of XM within your digital transformation may include:
Provides a diagnostic analysis. XM understands employee, customer, and consumer positive and negative touchpoints and their needs.
Identifying and prioritising opportunities for improvement. XM can help businesses to identify the areas where they can improve the customer experience, employee experience, or other experiences. This information can then be used to prioritise improvement efforts.
To measure the impact of changes. XM can be used to measure the impact of changes that are made during digital transformation. This information can be used to track progress and to make sure that the changes are having the desired impact.
Communicate with stakeholders. XM can be used to communicate with stakeholders about the digital transformation process. This can help to build trust and to ensure that everyone is on the same page.
The benefits of applying XM within your digital transformation may include:
Increased employee engagement. XM can help businesses to increase employee engagement by creating a more positive and productive work environment. This can lead to improved productivity and innovation.
Improved customer experience. XM can help businesses to improve the employee experience by identifying and addressing pain points. This can lead to increased customer satisfaction and loyalty.
Reduced costs. XM can help businesses to reduce costs by identifying and eliminating unnecessary processes. This can free up resources that can be used to improve other areas of the business.
If you are considering digital transformation, XM is a valuable tool that can help you to achieve your goals. By understanding, managing, and optimising the experiences that your employees, customers, and other stakeholders have with your business, you can create a more successful and sustainable organisation.
The team at Brand Anthology have over twenty years of digital transformation and XM experience. If you would like any further information on the foundations of successful digital transformation and XM, or help with reviewing your current digital strategy call Stephen at +61 (0) 402 399 211 or sd@brandanthology.com.au
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