Being digital requires organizations to develop and implement strategies that cohesively address the intersection of business models, customers and internal operations in ways that unlock new opportunities, generate loyalty and establish market leadership for years to come.
Customers are sophisticated. They expect to be wowed at every interaction and they expect you to anticipate their needs before they even know what those needs are. Achieving this experiential nirvana is a tall task for any enterprise and only a few have done so. Apple and Tesla come to mind, but why do so many fall short? Because, understanding the customer is paramount to transforming their experience:
Measure, measure, measure. Instrument every application to generate rich data sets for deep insights into your customer's behavior feeding back into future improvements. Where code can't capture data, talk to your customers often and take their observations seriously.
Generate revenue and customer service opportunities in new ways through the imaginative use of existing and emerging technologies.
Bits are infinitely configurable. This means that the number of ways your business can thrive is only limited by imagination, resources and a will to succeed. To remain competitive, modern organizations must adapt existing business models, explore opportunities for developing new lines of business and emerge as a global force.
Transform the current business model through the smart application of digital applications and processes. This could be as simple as offering an online version of a physical presence or as sophisticated as modernizing a set of cross-enterprise end-to-end applications and processes.
Bits are not only infinitely configurable but they cost almost nothing. These economics enable new businesses to be created that previously were impossible to consider or provided only marginal returns.
In addition to costing so little, bits don't understand borders. Business models, offerings and applications can be adapted to regions or specific countries much more cost effectively than traditional businesses.
Employees are people too. Delivering experiences that empower them to serve customers efficiently and with high satisfaction will lead to happier, more productive employees. And happier, more product employees will lead to better business performance.
Remove friction from your internal processes by reducing unnecessary steps, flowing data and tasks more seamlessly between departments and individuals and give more authority to your employees to make decisions.
Creating the conditions for high individual and team performance is no accident. Give your employees the tools, schedule flexibility, location choice, access to knowledge, open doors to management and the freedom they need to collaborate efficiently and solve problems.
Not just for customers, instrumenting your applications and processes is an extremely important requirement to becoming digital. Real-time understanding of how business processes and products are performing inform near term adjustments while feeding valuable data into future strategic decisions.