Driving more revenues by embracing digitization

Driving more revenues by embracing digitization

Faith Ocampo
May 9, 2017

businessman looking at business prospects on virtual map in cityscape backdrop

In this age, digital transformation is no longer a topic of debate. It’s an imperative for both B2C and B2B companies that aim to become more agile, competitive, and fast-growing.

The problem with digitization, however, is that businesses often see it as technology update rather than a business model overhaul. This leads them to thin that the be-all and end-all of digital transformation is acquiring the right tech tools and hiring people who can operate them.
And here comes the challenge—technology programs alone won’t help businesses adapt to the massive changes in the modern business landscape. While such companies might look fully digitized, their internal processes and organizational culture may not be aligned with their strategy. This approach will likely fall apart easily and fail to capture the results you want.
Digitization means updating all aspects of your business, from your vision, to your goals, and to your operations. Unifying all these would increase your revenues, as it’s a more sustainable business approach.
Here are the six practices that can help you build a digital company.
 

1.     Start from a strategic, theoretical level.

business executives putting territorial flags on world map

Making decisions regarding digital transformation without building an overarching digital strategy first is a recipe for failure. It’s important to form a solid, all-in plan so that you can outline the steps needed to transform your business. This way, all the moves you’ll be making will be aligned with your goals and strategy. This is a more sustainable approach that will get you to your quarterly and annual goals.

 

2.     Create consistent offline and online experiences.

Embracing a digital business model doesn’t mean brands can forget about the offline customer experience. The quality of your customer service must be the same regardless of whether it’s delivered face-to-face or online. Striving for consistency lets you establish a strong branding that your clients will remember you for.

 

3.     Use data to empower your people.

business woman holding bag standing in front of doodle showing data

In a digitized world, companies generate plenty of customer insights. Share these with your employees so that they can perform their jobs better. Gaining insider information about customers helps companies develop a fine grasp of what customers want and need, the pain points in their journeys, and their recommendations. This allows brands to develop approaches or processes that meet customers’ standards and expectations.

 

4.     Link your internal processes with one another.

One of the biggest advantages of digitization is that companies get to connect their internal processes, which means they’ll become more efficient and productive. Using the right collaboration tools, programs, and communication strategy, you can connect departments and enhance the way your people work with one another. This will help you meet deadlines and shorten turnaround times.

 

5.     Foster an innovative organizational culture.

office employee working together sitting on colorful bean bag chairs showing teamwork

High-performing companies are growth-minded and innovative. They forgo traditional practices when they don’t work anymore. In addition, they’re always willing to consider new perspectives or try different ways of doing things. However, they do all this while considering how a certain action can affect their operations.

 

6.     Recognize the need for change.

Do you need to revise your strategies, adopt a new process, or abandon old practices? As digitization is a continuous process, you and all members of your organization must be open to changes. It’s a painful and laborious process, but it’s the key to building a fast-growing, innovative company.

 
 

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