Autobot or Decepticon: Has your business truly transformed digitally?
See what I did there?
Ok so, we’re living in crazy times where I haven’t ruled out an 18 wheeler transforming into a living saving force to wipe out Rona. Ok not really... but even then, I still keep my digital consultant hat on to see how technology can and has made life easier.
To keep it simple, I look at businesses through this lens: are they set up to compete for years to come and if so, how? One of the ways businesses quickly pass the sniff test is if they have embraced their digital transformation to match the needs of today’s customer.
We see this with publications that are now digital-only platforms, or big box retailers that allow you to purchase online and pickup in stores, and even most recently with workplaces across the world being forced to adopt a work-from-home culture due to the coronavirus. Businesses can no longer afford to rely on one channel to engage with their customers or conduct its business.
Why?
Because the path to purchase is not only different than it was 10 years ago, it’s also completely unique to the customer. For example, as a retail outlet, my family loves Target. Personally, I know I can run in and grab everything from snacks for the kids to indoor golf balls (true story). I prefer the in-store experience because I’m more visual, but I also do searches online before I venture out to make sure it’s not a wild goose chase. My wife on the other hand, loves the drive up service because she can make a list while she’s home, pay for the items online and drive to a store location where they will bring the items out to the car, just in case our 2 year old is close to nap time. In this case, you have two different shoppers, two different paths to purchase but we end up at the same destination because the business made it possible.
Quite simply, digital transformation is not a cost cutting measure where your business looks to get rid of the humans and replace them with robots (or transformers, sorry I couldn’t resist). Digital transformation is about equipping your customer to do business with you in the method of their choice because if you don’t, you could risk losing them... for good.
So in these times of uncertainty, ask yourself a few key questions regarding your business’ digital transformation:
What is the most preferred means of purchase for my current consumer base, and are there other platforms that I can take advantage of that could help my business grow?
How do I measure the effectiveness of my current sales channels? Is there a data story that could help me make an informed decision?
Which of my current business processes can be done remotely and what is needed to get it done?
Is my team equipped to drive this transformation, and if not, what investments do I need to make to get them ready?
Do I have a business partner that can help navigate this transition?
While this is not an exhaustive list, it is a quick gut check to make sure that no matter what the times bring your business is ready to compete and continue.