Driving a Digital Transformation
Digital transformation is an evolution of business activities, competencies, and processes to successfully leverage all opportunities of digital technologies. It is essential for brands to stay current while carrying out their digital transformation to increase their revenue and market share.
Implementing a strategy for digital transformation is incredibly important to increase the odds of success. Once you have a digital transformation strategy, it is much easier to implement that strategy throughout the entirety of your organization.
The overall goal of a digital transformation is to make your business more competitive. There are 4 main areas to focus on throughout the transformation process.
Business Model Transformation
First, the current marketing strategy must align and make sense in a digital marketing business environment. To accomplish this you can look at new products and services that segmented audiences are investing in.
For example, when Netflix shifted from DVD rentals to streaming video content, the company took on a transformation that aligned with the digital world. It is important to look at both long term and short term goals to determine the growth of your business.
Marketing Strategy Transformation
Determine how the everyday business processes of your business will react to a digital transformation. Best practice is to audit your marketing programs to focus on areas that need the most improvement before making your presence in the digital space.
Analyze baseline metrics to see how effective your marketing tools are, then, you will know what marketing efforts can be switched to an automated execution tool.
Cloud Transformation
To successfully go through a domain transformation you must initiate a complete movement of all marketing operations into the cloud. There are many benefits to cloud-based systems including improved security and scalability.
Once this is identified and implemented, you can begin to migrate all of your workloads and data entries using the appropriate platforms!
Internal Transformation
Lastly, you will need to think about the culture of your organization. Undergoing a complete digital marketing transformation can be difficult for your team to get used to. IT is important to ensure all departments of your organization are familiar with digital marketing technology.
Driving a digital transformation can be incredibly beneficial to your business. However, it can present multiple challenges including risk aversion, lack of digital skills, lack of financial resources, or lack of business resources.
It is always best practice to ensure that you have a well-planned digital marketing transformation strategy in place to increase the odds of success! To go digital, you must be digital across internal business platforms.
