Digital transformation

‘Business transformation’ is a general term that represents fundamental changes to the way a company functions. However, when an organization is driving a shift with the help of technology, it is called digital transformation. Earlier, only big organizations were making a digital twist to power their working system. But the concept of digital transformation and its need has evolved the way companies adopt it. Today, everything starting from small businesses to large corporate companies use digital transformation to support their motives.

Digital transformation is an essential trait for businesses of all sizes to stay relevant and competitive in the market. The 21st century’s connected world has led to the age of higher expectations among customers. Mobile has led consumers to be always on, connected, and in control. Social media has created a digital influencer community, while voice has brought instant gratification and convenience. This has resulted in organizations desperately seeking remedies to develop a better business strategy. However, we can’t deny the fact that big tech companies became the first recipient of digital transformation by availing disruptive technologies. Fortunately, the emerging development in technology and availability at lower-cost has opened the door for small businesses to embrace the paradigm change.

According to the 2018 State of Digital Business Transformation research from IDG, almost 90% of organizations have one thing in common. They either have or plan to have a digital-first strategy in place. Another report states that around 40% of small businesses now consider digital transformation as a core component of their organizational strategy. The Covid-19 pandemic followed by strict lockdowns across the globe has further pushed small businesses to rely on digitization to even make ends meet. Despite being stuck between limited budget and mushrooming expenses, small organizations are still unveiling disruptive technologies to keep up their pace in the digital race. IndistryWired has listed some of the effective ways you can leverage digital transformation in your small business.

Bring in a collaborative working system 

The main reason companies adopt digital transformation is to improve operational efficiencies across the entire company to build a customer-centric organization. Even though small businesses have fewer employees in number and follow simple criteria, it is better to break down the silos and ensure that internal departments and staff are collaborated seamlessly. Particularly, small businesses should involve stakeholders across the organization in the digital transformation so that they can contribute to the initiatives. Bring digital transformation out of the IT department and make it a mainstream source for all workers.

Get the best out of bare minimum

As mentioned earlier, big organizations have larger budgets where they can fit the digital transformation initiatives. But small businesses can’t enjoy the luxury. They have smaller budgets and a shorter time period to transform. Fortunately, small companies can get the best out of minimum efforts. They can simplify their digital transformation strategy to focus on the most important areas to integrate disruptive technologies and have a tailored playbook for their success.

Give a touch of personalization

One thing business people are evidently experiencing today is the change in behavior of people. Customers prefer personalized content more than a general product or a solution. For example, no one will read an email if it comes with the intro ‘Dear customer.’ But if the same email is sent addressing the person with their first name, there are high chances of it getting noticed and read. Digital transformation espoused with data creates an ever deepening understanding of customers to leverage a tailor-made solution for everything. Small businesses need to consider customization as a core element to wrap their business goals around it.