Digital transformation is all the rage, but there are plenty of businesses getting it all wrong. Here’s how to make technology work for you in 2022.
Summary:
- The pandemic didn’t just cause a remote working explosion; it revolutionised the way we work, shop and socialise.
- The problem: there’s a high percentage of companies that aren’t digitally equipped.
- Our 3-point solution:
- Start with strategy, not the tools.
- Leverage savvy, well-placed ‘insiders’.
- Level-up your human talent.
Disruption. It’s the buzzword flavour of the last two years, and while it’s being used way too often, we think it’s pretty damn apt for what we’ve all gone through. The pandemic didn’t just cause a remote working explosion; it revolutionised the way we work, shop and socialise. A study by McKinsey shows digital adoption has leapt ahead by five years in just eight weeks, and Microsoft found that two years of digital transformation happened in just two months.
Bottom line: we’re all spending more time online and demanding new digital services and products from brands. However, there’s a problem: there’s a high percentage of companies that aren’t digitally equipped, or their digital transformation plan is a shambles. Up until 2020, research company Forrester found that only 15% of companies were digitally savvy. Harvard Business Review found that 70% of digital transformation projects don’t reach their goals, and most of the cash investment goes to waste. And that can be lots of moola: the global investment in digital transformation is projected to top $6.8 trillion by 2023!
One of the biggest challenges (we’ve seen this both with our clients and industry peers), is that companies are *trying* to adopt new technologies and agile ways of working, but they end up just saying the right things and doing the wrong things. People are afraid the robots will take their jobs, but it couldn’t be further from the truth.
So, what’s the answer? Well, while we love using creative technology (seriously, it’s our USP), the real solution to digital transformation is about people – and that includes both your employees and customers. Here are our ingredients to making a digital disruption recipe that works for your brand and bottom line.
1. Start with strategy, not the tools
Brand example: Deutsche Bank uses Google Cloud as its innovation partner.
It doesn’t matter how fancy your new gadgets are, if you don’t have the right strategy and agile processes in place and the right culture and talent, those gadgets won’t work. Simple. This starts with the business vision, strategy, and mission statement, and then needs to blend into every business corner. The real trick here is to become a data-driven company, where all decisions are influenced by data-driven insights, not intuition.
2. Leverage savvy, well-placed ‘insiders’
Brand example: Mercedes Benz and cross-functional teams.
These aren’t CEOs and leaders; you need middle managers and workers across all your departments – the ones who are actually doing the work. Those are the people who know what is needed to integrate new technology, and how to make sure the rollout is done practically. These tech ambassadors will drive the transformation internally.
3. Level-up your human talent
Brand example: Henkel and its Digital Upskilling Program.
Want more bang for your buck? Instead of spending millions on technology alone, make sure you dedicate funds towards upskilling your staff. The major reason for a lack of results from using new technologies comes from the failure to invest in skills.
We’ve got one more secret to share. If you want to be a post-transformation success story, you need to be obsessive about customer experience (CX). Get that right, and you’ll make a success of your business, no matter what industry you are in. The good news? We’re here to help. Drop us a line here or call us – we’ll help your company transform into a success story.