There should be a clear distinction between digital strategy and digital transformation. Digital strategy harnesses your commercial goals with the tools and tactics to achieve these whereas digital transformation considers how your business is structured to cope with the digital market place
An evaluation of the latest digital technologies including artificial intelligence, predictive analytics, crowd computing, etc. is key. It should also assess the latest tools and emerging processes and practises. Essentially, its purpose is to improve the output of your resource, freeing them from labour intensive or bureaucratic work and improving focus on customer-led activity, from engagement to brand experience.
The pace of digital evolvement is frightening and often hampered by heavily invested legacy technology and out of date marketing tactics. Digital products and services can be evolved quickly through continuous cycles of measurement and testing, with each iteration bringing greater, actionable learnings.
With inflexible legacy-based technology, rigid organisation structures and poor use of data, the ability to react and proactively adapt to the moving market place is limited. Many companies invest in technology for the benefit of the internal business function as opposed to realising greater commercial opportunity from existing clients or new customers.
Digital transformation challenges the habits of the traditional technology and marketing effort by focusing on what the customer needs. Replacing tactics with richer digital experiences will draw existing customers closer as well as stimulating new business. Data, analytics and customer feedback informs teams with knowledge and insight, improving engagement and sales conversion.