Technology is here, it is no longer ‘The Future’ and your business needs to be utilising it now. If you aren’t aware of, and reacting to, the changes in modern technology, then your business will fall behind and fail, because newer companies with more streamlined and tech-savvy processes will eventually come in and overtake you. Digital Transformation Strategies are vital for businesses survival and the trend of these strategies exists everywhere. So many London SEO Experts are discussing the importance of adapting to technological change, but it’s not just there: SEO Expert London, Manchester, Leeds etc. Since 2015 the idea of Digital Transformation Strategies has exploded in popularity everywhere, all across the UK, and shows no signs of dissipating.
In the world today, there is a growing gap between what consumers wants from a company, and what that company can provide. It then becomes a race for the company to bridge that gap before the consumer leaves and uses a different company instead. This is where Digital Strategies and Digital Transformation Strategies come into play.
Digital Strategy Vs Digital Transformation
A Digital Strategy is about using technology to help one specific type of person involved in your business. This could be the customer, and a Digital Strategy could be making more processes online and with less friction. It could be automating shipping systems or even utilising newer technologies to create products with higher quality and for less costs.
A Digital Transformation Strategy, however, is about redesigning a business’s entire structure and processes based on available technology. The two phrases are similar in meaning, but one is more specific to individual pain points and one is company-wide and about evolving for the future. Instead of seeing technology as a tool for helping one issue, it’s about learning to see technology as a way of doing things.
How Is Digital Affecting Business?
The emergence of the digital has disrupted every sector and business type. The obvious sectors are music, media and travel (when did you last go to a Travel Agent?) but every sector is affected by it in some way. Banking has come a long way in recent years to make Online Banking the new standard instead of just an optional extra. Some, such as the Monzo Bank and Starling Bank exist entirely online, making for much cheaper running costs; this kind of development would have never been dreamt of only a few years ago. It’s clear that if your business isn’t paying attention to technological advancements and changing its business model accordingly, you will fall behind other companies that are.
Even the way strategies exist nowadays is changing, because technology is evolving so quickly as to make long-term plans irrelevant. The age-old idea of a 5-year-plan is no longer useful, because no-one knows what the industry will even look like in five years. Companies need to test and adapt to these changes as they happen, essentially learn as they go. Technology is changing the very way that business work nowadays; instead of simply being an important element to a business, it’s becoming the foundation businesses are built from. As the London SEO company ‘WeAreAgency’ said “More than an IT Department; people live at the heart of the digital transformation journey.
How To Begin a Digital Transformation Strategy?
If you think that your business is struggling and needs to adapt to these changes, but you aren’t sure what element of your business needs changing, you may be thinking too granularly about it. This type of change needs to happen from the very core of a business outwards; you need to overhaul your entire business processes and recreate them with a mindset for technology, rather than simply evolve the business by incorporating new technology into it. Take the example of Uber, and how they have revolutionised the Transport industry; it is so much more than simply updating the idea of the Black Taxi Cab by incorporating digital technology into its practices; Uber is a business that is entirely based around a new way of using technology.
If you are interested in Digital Transformation Strategy but don’t know where to start, here are 5 Questions you need to ask about your Business before you begin.
What Would A Start-Up Do Differently?
It’s no use thinking of ways to improve your business without first thinking of what a newer business would do differently. If you’re only thinking of what can be implemented into your existing processes, you will miss out on some fantastic, ground-breaking ideas.
How Can Technology Affect My Core Business Practices?
This is difficult because this is everything that your business is built from; trying to see utterly new ways of doing them isn’t as easy task. However, all changes need to come from a change to the core of the business, otherwise, it’s like putting a plaster on a broken leg; too little, too late. Really think about how technology can be used to streamline your business, speed up the processes and make for a simpler experience all around.
How Can We Be Better Using Our Data?
Every company has data; data about its customers, its processes, pain points and successes. All of this data can be read and utilised in new ways and can tell you so much about ways to improve, strengthen and grow your business. It has been shown that businesses that use Big Data perform up to three times as well as companies that don’t.
What Do Our Customers Want?
Relating to the gap I mentioned at the start of this post, you need to ask yourself what it is that consumers want from your company (product, service, speed, reliability, accountability) and how is it that you can grow to meet that demand before you lose customers to other businesses that can offer it. This isn’t the same as ‘How Are Our Customers Using Our Services Currently?’ but how would they like to use them in the future?
How Can I Test These Theories?
Digital Transformation Strategies are about totally changing the way your business works, but that doesn’t mean doing it on a whim. You need to make hypotheses and test them; see what has a good effect and what doesn’t then begin implementing that on a bigger scale. This brings down the overall risk involved.
After answering all these questions, you will have a better idea of how to progress with a Digital Transformation Strategy. You need to do this research first because its no use digitalising your business just for the sake of doing it; you need goals, an aim and an endpoint.
Risks with Digital Transformation Strategies
Digital Transformation Strategies do have several risks associated with them, the same as any business decision would, and these risks need consideration before implementing any strategy.
Firstly, an obvious risk with digitising large sections of any business is the increased Cyber Security risks. Having more processes online means them being in a more vulnerable place to hackers and other cyber threats. This issue certainly needs to be considered, but it shouldn’t deter you from thinking a DTS is a way to go. Cyber Threats exists for any business with online operations, and they need to be dealt with. However, the solution should be to scale and with the understanding that there is no way to truly be 100% secure. Consider what types of security are most needed, and how much should be invested in those measures. Throwing money at the issue will never solve it entirely, so instead you should simply spend the adequate amount for the business to be reasonably safe, but it’s up to you to decide where that limit is.
The second risk is the costs of overhauling a business in this manner, multiplied by the inherent risks of moving into unknown territory. The unknown can be resolved, at least in part, with extensive market research and following Best Practices by similar companies. There will still be risk involved, as with any business decision, but the point is that not implementing this type of strategy will change the risk from the short-term that can be prepared for, to the long-term that is highly-stacked against your business.
The costs involved are unavoidable, realistically, but any company following a Digital Transformation Strategy will suffer the same costs. Think of the costs as a short-term pain point to fix an issue in the long-term.
In the UK, the core Digital Marketing companies exist in the capital. SEO Expert London brings up over 4 Million results on Google, and for good reason as this is where technological change is happening. London SEO experts can be within the evolving technologies as they happen. However, SEO companies all across the UK can learn from these companies, they just need to work that bit harder to have their finger on the pulse of technological strategies developing in places like London.
If you think its time to start looking at a Digital Transformation Strategy, ask yourself those 5 questions and create a plan. If you want an even more structured plan, contact an SEO expert and see how they can help your business move in the technological future.
Hire an Expert
Invest in hiring the best SEO London agency. Though the idea is still unseen, many companies offer proper SEO services for all types of business or brands. For instance, the best SEO agency in Nottingham for more than a year remains Intelicle, which has maintained a reputation of trust with its clients. Intelicle pay per click agency can also help build your online reputation and sales via paid marketing as well; we are a local reputable PPC Nottingham agency.