Think of all the businesses that have come and gone in the past few years. We could make a digital graveyard just naming them all, and we wouldn’t have even breached the tip of the iceberg. Competition is fierce in today’s world. There’s only one thing that’s certain: this is survival of the fittest. Does your business have what it takes to survive today?
Surviving today isn’t just about advertising the lowest price or reaching the most people. It’s about using technology to transform your market and your audience in irrevocable ways. This has been the way of business since the dawn of time, and it’s only becoming more apparent in this age of the internet. This guide will prepare you to not only survive, but thrive, in a changing world!
The History of Digital Transformation
Darwin’s theory of survival of the fittest has applied to businesses since the industrial revolution. Only the most powerful can keep up with the growth of technology. You’ll see this anywhere from Henry Ford’s invention of the assembly line to the growth of online movie and TV streaming. Digital transformation, defined simply, means transforming all aspects of an industry through the introduction of new technology.
As a consumer in today’s world, you’ve seen digital transformation in action numerous times. You’ve watched as digital transformation skyrockets businesses like Spotify and Amazon, both of which were on the cusp of something big with their tech-savvy business models. You’ve also witnessed digital transformation leave companies behind to die in the great big digital graveyard. Companies like Blockbuster movie rentals and Kodak film that were so huge in their time but don’t exist today.
Using Digital Transformation Today
Today, digital transformation isn’t optional. Consumers of today are accustomed to change. They embrace it! Think about it yourself. Don’t you love to use products and services that make your life easier? You quickly left CDs behind to embrace music streaming. You no longer settle for anything less than 2-day shipping. You’ve changed with the industries!
A lot of businesses are afraid of change. They think it’s better to walk to the beat of the tried and true! It worked in the past, so why won’t it work tomorrow too? Technology is too quick for that. It’s no longer safe to rely on the methods of yesterday. You can clearly see this in digital marketing. The practices of reaching new audiences of the past simply are obsolete today. Customers are becoming more and more savvy about marketing practices, and they have a lower tolerance for things that don’t seem authentic. Things like email marketing, pop-up ads, and mailed flyers are a thing of the past. Now, video, location-based ads, and influencer marketing are on the rise!
With so many changes, how can you stay ahead of the curve? Here are solid tips for applying digital transformation to your own business strategy!
Commit to Change
The first step is the hardest to stick to in practice. While it’s easy to say you’ll commit to change, it’s hard to give up those systems you’ve become so accustomed to in the past. Make it a part of your business mission statement to commit to innovation. Don’t focus on what worked before. Think long and hard about what will work tomorrow.
It’s All About the Customer
In the digital age, the gaps between businesses and customers are becoming larger than ever. Businesses that don’t take into account the way their customers experience their business will fail faster than those that are willing to prioritize their customers. This is where small businesses have a chance to succeed over larger businesses! Whether you’re changing your payment system to simplify it with the complete credit card machine guide or you’re developing new ways of doing customer service, it should be about the customer from start to finish.
Do you think businesses like Amazon just introduced a subscription-based 2-day shipping system on a whim? This digital transformation was based on the evidence that users were more likely to abandon their shopping cart at checkout if they saw unexpected shipping costs. If you do enough research, you’ll find the solution was there all along. Pay attention to customer feedback. Listen to their needs and their problem areas. This is where the transformation is waiting for the right business to make happen!
Digital Transformation and the Future
Digital transformation might not be easy to consider now, but it’s what will take your business into the future! Without digital transformation, we wouldn’t have any of the technology we take for granted today. Use the tips above to incorporate digital transformation into your own marketing and business strategy. As long as you focus on the needs of the customers and making your business better for tomorrow, you’ll survive in this crazy wild west of the internet!