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Digital transformation: will you still be reaching your customers tomorrow?
The background
The term digital transformation is currently bandied about in masterly fashion by the IT industry as a synonym for change through technological progress and the ongoing digitalization of the workplace. There’s no doubting that this definition is essentially correct; digital business is rapidly gaining in momentum thanks to the technological opportunities available, gradually squeezing aside conventional business models. Companies are therefore called on to develop new, holistic business and technology strategies in order to prepare for their digital futures, spurred on by the promise of sustained economic success as the basis for continued existence. But that’s not the whole truth.
In our daily conversations on digital transformation with decision-makers from various industry sectors, the focus is often merely on the adaptation of existing technologies and platforms. With companies such as these, the process of digital transformation would not go far enough because it would be based solely on compensating for technological deficits via such measures as the subsequent digitalization of business processes. This perspective risks losing sight of the actual driving force behind the transformation process, namely customers and the progressive digitalization of their daily usage practices!
The customer is the focal point
It is indeed changes in customer behavior that are forcing companies to adapt their business models and products to new, increasingly digitalized lifestyles and usage behaviors. So it cannot be emphasized strongly enough that what we previously recognized as digital transformation was merely the beginning of a continuous social trend in which our tried-and-trusted business models will be fundamentally reworked and their stakeholders become part of new governing principles.
Evidence of these new principles is also apparent in the radical social transformation experienced in some places in recent years, for instance the shift toward what is known as the knowledge society. Enterprise Content Management, Industry 4.0, Big Data, disruptive technologies, even digital revolution are just a few terms in this context.
Will you still be reaching your customers tomorrow? The question is entirely justified: whereas previously, it was the provider who held the advantage in terms of information, today, perfectly informed customers hold all the cards. In some cases, the customer knows more about the available products than the provider! So it is vitally important for an entrepreneur to know his customers and their increasingly digital habits extremely well. The greater this knowledge, the more companies will be in a position to address the individual digital needs of customers and the greater the likelihood of market shares and business being expanded.
No half measures: transformation or bust!
Digital transformation is not a one-time event, but a continuous, all-encompassing transformation process oriented to the latest available technologies, to the usage habits of customers, and to the ability of companies to adapt their technology to digital usage practices. Existing value-added chains and concepts are undergoing significant change as a result of this digital transformation.
As such, digital transformation is polarizing the modern world of business: transformation or bust; there won’t be any half measures! This is the challenge facing all companies today. Only those agile enough to adapt continuously to the changing technological and social conditions will survive in the long term. How much progress have you made with your own transformation process?
Our pledge to you
Challenge us! As an equal partner, we can offer extensive skills and expertise in a variety of sectors and subject areas. We are happy to assist you with the digitalization of your business processes and are passionate about achieving digital success for your company.
