- Category: July 2014 - Marketing Analytics
To make your own business successful in the digital world, it needs an operational change management, as I already indicated earlier this month with the book presentation "Digital Darwinism". But how the digital change processes work best is often not really clear. It’s no longer done with a few digital functions here and some Facebook posts there, but a fundamental rethink is required to brace the digital change in your own company.
"Lead, don’t follow" is the motto and solution. To make it happen, however, you have to implement new technologies and throw old processes overboard.
Didn’t you realize that actually in almost every industry a digital transformation is already in transition? For companies, it means, not only to realize that it is happening but to actively shape, develop and keep up with the digital transformation.
Take a look at the following tips for digital success:
- Streamline and create new processes: In the digital age, a simple adaptation of existing processes usually falls short, because the pure digitization of analog processes isn’t an adequate concept. Rethink your business model and ask yourself what today’s target audience really expects from you.
- Benchmark and learn from startups: Established companies have had great success with their business model for decades and probably longer. They are experts in their field and always have fulfilled the customer wishes. If they are lucky, they will continue to do so in the future with their existing business model, but there will be only very few as the digital world is moving fast. Therefore, constantly try to identify discontinued models in your business concept and replace them with promising technologies and strategies. It’s not a coincidence that young startups often oust long-established companies in just a few months or years, as they are able to adapt rapidly to digital change. It is an important reason to question and refocus your own products and services, adapt to change and ask yourself on a daily basis if your service or product is still relevant or what should be done to sustainably improve your portfolio. Get inspired by startups that question their approaches and ideas on a daily basis and replace them with better ideas when needed. Do not hold on to old behavior patterns, rather allow new methods.
- The digital competition isn’t sleeping: It can’t be repeated often enough that it is necessary to make use of new technology and to go unknown paths to enable the transformation in your company. New technologies help to accelerate development and reduce costs and whoever is choosing the wrong techniques will quickly be going from leader to follower. Identify new trends and rethink in agile processes whether these trends could be useful for your business as well.
The use of HTML5, for instance, can bring many benefits to the digital transformation. In fact, the desire for more multimedia content on the web is inevitably linked to the success story of HTML5 and that way mobile devices, the use of augmented reality or the Internet of Things, will find their way into the digital business strategy and justify their positioning.
- In the digital age, classical hierarchies are often just hollow words: Google, Facebook and Co. are leading the way and show us that anyone who has a clue wins. Often the IT intern knows more about topics such as cloud computing, big data analysis or social media accounts than the CEO. Use this knowledge and give your digital natives the confidence they deserve.
Digitalization has become a must-have, so do not waste unused opportunities and find out where there is still digital potential hidden in your company.
By Daniela La Marca