Hello and welcome to the presentation where we will look at the six ways where businesses are transforming digitally. So, if you are a business, you would want to focus on these six dimensions to make sure that you are making progress when all six dimensions are to make that digital transformation.
First of all, let’s look at how the world has gone digital. We know that the world users have become mobile and social and are exhibiting a certain kind of digital behavior. We know that there is a global mobile penetration. Most of the users today have mobile devices and all kinds of gadgets that include mobile phones, mobile tablets, variables and so on. Mobile has gone prime time and most of the users around the world are carrying mobile devices. As a result of the mobile penetration, a lot of the functions that the users were doing earlier have also gone mobile. That includes shopping, banking, communicating with their peers, collaborating, collaborating with their peers and so on. All these functions have gone mobile.
Because of the function and content that are available to users, users have become smarter as well. They’re making much better and effective sessions.
Now we’ll look at how the internet and the web in general have gone mobile. We see multiple digital properties on the cloud. The internet or the web used to have only a number of websites. Now when we talk about the internet, we talk about blog, websites, social media platforms. Now we are looking at apps, we are looking at all other kinds of platforms that serve the mobile users.
The businesses are moving to cloud systems to serve their users. So, they are basically outing systems together that make all these websites happen, and serve the mobile users. These three components essentially make up the digital world.
Digital behavior is essentially human behavior or organizational processes which are influenced and driven by digital technologies. When we talk about digital technologies, we talk about mobile and social media and so on. And we see how these technologies are essentially changing the human behavior as well as the organizational processes.
Now let’s look at the six different dimensions where businesses are transforming themselves digitally. First of all, it is important to study your customer’s digital behavior. So businesses are studying their customer’s digital behaviors because basically how customers share information, how they shop, how they make decisions, how they communicate with peers and collaborate. All these are changing and for businesses. To serve their customers properly and to adapt to the customer’s digital behavior, they must look at all these things. And all these behaviors must be studied not only in detail, but they could be different from one industry to the other. So, the customer for example who is shopping for a TV set may go to Amazon to look at of the reviews people have given, before they make a decision. However, if you have a customer in the insurance industry, their decision path is probably quite different. They may rely on word of mouth or they may go onto some other website where they could discuss the features and functions and people’s experiences with that insurance plan. The customers’ digital behaviors vary from one person to the other and vary from one market to the other.
And all this is required to understand a customer’s journey. The journey that a customer takes from the time your customer touches your business, all the way to the time when they actually make a sale and they keep a relationship with you and your business. So, to get that customer journey, it’s essential to understand the customer’s traditional behaviors. (Get online courses on starting a digital business here)
You also need to study your market’s and your competition’s digital behavior. By market we mean the different players in the market that include your competitors, your partners, and your suppliers and so on. So, for example, if you ship for Amazon, Amazon may impose on you some rules in terms of how many minimum shipments you would need a day to qualify as a shipper or the different times that you should be able to make those deliveries. Those rules would impact you greatly. So, businesses are not just looking at what the end customers want. They also have to look at what the other players in the market, such as the competition or their partners and suppliers want. And then they have to change and transform digitally in that dimension.
So all this is going to influence how you design your products and services and how you move them to the market and how you sell them and so on. It is very important that before jumping in, you design your products and services, that you understand who the customers are, what their digital behaviors are. You should understand your market, the different players in the market, the different players and suppliers and competitors. And based on that, come up with the portfolio of your products and services, design them and manufacture them.
The fourth dimension is changing for businesses as they redesign business processes. Business processes include processes, such as customer service, sales and marketing, accounting and billing. So, all these different business processes could change based on what’s happening out there. So, for example if you have customer service processes today that only rely on answering phone calls, but if you realize most of the customers have moved to social media platforms, you may want to open up a channel on social media and provide that service on social media rather than answering phone calls. So, you have to look at all those business processes that may be changing because of the digital transformation.
The fifth dimension where businesses are changing is basically that businesses are upgrading their systems that could include websites, blogs and the backend systems. All these would depend on the products and services that you are providing to the market and basically how the business processes are changing. All that will impact the systems that you are going to design to be able to operate as a business in the digital world.
Finally you should always be looking at your business mode to make sure that it is still valid. Basically, who you sell your products to, who are your audience and how you work in the market with the competition, with the product’s partners and supplies. All that still needs to make sense for your business model. And if not, you have to make changes accordingly. So you should be constantly reassessing your business model to keep up with the digital transformation.
With this, we have some to the end of the presentation, we hope you like the presentation. Please remember that digibizcourses.com brings training and consulting on various aspects of digital business. To stay up to date on future training content, please ensure to sign up on our website, thank you.