The Keys to Succeed in the Digital Transformation Industry Today
Sep 16, 2022
Opinions expressed by Entrepreneur contributors are their own.
The global digital transformation market is expected to grow from $521.5 billion in 2021 to $1,247.5 billion in 2026. And numerous other statistics indicate the presence and implementation of digital transformation initiatives in the global business sector.
Being a professional technology consultant and co-founder of a digital transformation firm, I could say that investments in customer experiences and tech solutions like cybersecurity and cloud migration stem from highly saturated initiatives.
Understanding digital transformation
Digital transformation is an organizational effort or a series of processes that redefine and improve existing and new techniques and customer experiences.
With a jump from $1.8 trillion in 2022 to $2.8 trillion in 2025 in digital transformation initiatives and solutions, integrating digital technologies in all business areas is a cultural shift to more intelligent, agile ways of doing business.
Tips to succeed in the digital transformation industry today
So, how do you succeed in an industry that simultaneously offers tremendous potential and ultra-competition? Here are six tips for digital transformation success.
1. Focus your strategy around the 3 C’s
- Communication. Any digital marketing initiative should communicate clearly and concisely between the project management, technical, marketing and strategic teams across all levels. The idea is to help everyone understand their specific roles and responsibilities and their co-dependencies in the team.
- Change management. Change management offers some benefits when creating, executing and sustaining initiatives. It allows companies to track and gauge changes and generate additional data for product optimization purposes. Change management implements existing workflows and digitization efforts, like converting all papered documentation and communication correspondences to digital media. You can exercise greater control and a more extended adjustment period if the workforce, employees, customers, etc., require training to equip themselves with the technologies introduced. The change management pushed me to move from Cocos2d-x to Unreal Engine and Unity, pushing me to start TekRevol. Throughout my career, I’ve learned that engaging in new technologies is when interactive, engaging games happen.
- Continuity. Digital transformation requires patience and time! Talking about the strategic roadmap, we need a consistent and transparent approach to achieve long-term goals through gradual changes and improvements. The idea is to take the long view in planning rather than focusing on short-term gains.
2. Never overlook your front-line staff
Hiring the right team for the right project is not emphasized enough, especially during digital marketing initiatives. For instance, the leadership personnel provides the strategy, direction and the “why” — the business’s reason for existence. This happens while the workforce at the operational level is getting things done in terms of the business’s “what” — the company’s offerings.
Hence, I strongly emphasize the fact that getting buy-ins from the front-line workforce is imperative because they’re the people who’ll be using your mobile app, tools and any other product that boosts your digital campaigns.
3. Team up with the right technology partners
The right technology partners are more than vendors, especially if your transformation initiative is holistically massive and visionary. The learning curve of shifting from pen and paper to automated business processes is vital for continuous improvement. Hence, selecting the right technology partner to provide training to your workforce is critical to weather the initial transformation struggles and start executing. Moreover, tech partners are a great source of valuable insights that help businesses map their goals, timelines and scope and eventually maintain sustainable partnerships.
4. Communicate your short and long-term schedule
Every project, team, or company is bound to experience setbacks at some point in their work. Still, a well-planned and scheduled list of priorities, responsibilities and benchmarks can weather any future problem.
Frequent communication for project timelines and deliverables helps keep the team’s decorum and interests intact across the project’s lifecycle. The idea is to communicate short and long-term goals and correspondences to keep your initiatives in check by minimizing delays, errors and omissions.
5. Understand and manage the power dynamics associated with data
I believe that companies shouldn’t strive to become data-driven but data-informed. In other words, data shouldn’t be considered a replacement for experience and expertise on board. A company’s workforce should be able to question its status quo by acquiring insights from the current, updated data rather than relying on past experiences and hindsight.
Realize the potential of data and that not everyone is ready to acknowledge and handle the transition instantly. Although it is natural to see AI interference in humane decisions as dehumanizing, leaders should exercise their responsibility to help people manage emotions related to leveraging data for better-informed decision-making.
The entire trust and collaborative working come down to psychological safety and a shared sense of purpose. Failing to do so, employees are more likely to reject data rather than incorporate them into their job roles.
6. Sell your vision to leadership
Being a full-time employee back in the days before I started TekRevol, I can relate that selling your vision to the C-suite level personnel is a tricky trade. This is especially applicable for companies that are more prone to be suspicious and financially conservative about adopting the latest technologies, trends and tools.
As the leadership level plays a significant role in defining the company’s goals and culture, it’s your job to educate them on creating a collaborative, digital savvy culture and better understand both short and long-term benefits associated with machine learning, artificial intelligence, emerging technologies — like Metaverse, Blockchain, extended reality, NFTs, etc., — and process automation.
Whether crowdfunding an application for some enhancements or looking to build a transformation initiative from scratch, success in the digital space starts and lasts with a robust plan.
However, you don’t necessarily have to embrace the entire culture through struggle, nor does it have to end in a debacle.
Implementing new technologies, frameworks and tools for your organization’s success is critical. Combining this with a well-equipped strategy that engages the entire company and prioritizes the 3 Cs, respects your workforce, communicates your strategic roadmap, manages data with human resources and sells your vision to the leadership level is crucial to success in the digital transformation space.
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