Why SMBs should/should not transform digitally?
Digital transformation is nothing but creating a competitive advantage for your company by using digital technology. Small and medium businesses get scared when they hear of virtual & augmented reality, internet of things, connected mobility, autonomous vehicles etc. SMBs do not feel the need to adapt to change when they are doing fair but what about tomorrow when we think of long-term impact and consider recession or threat of competition? The difference between winners and strugglers is the ability to transform themselves digitally.
What are the prerequisites for Digital Solutions?
SMBs need to figure out what their business goals are: Increase profitability, increase topline revenues, reduce costs or to increase market share. Figure out what is the problem you are trying to solve, and then try and look for the solution to that problem through the process of digital evolution. You don’t have to overhaul your legacy system & completely replace it, you need to see if you can tweak it and it could not always be about technology, it could be about process.
What does digital transformation make you do?
The heart of digital transformation is customer experience design, attune yourself to the needs of the larger community while keeping an ear open for your end customers. Look at your business model and draft a customer journey, put yourself in the shoes of your customer and analyze what experience the customer goes through while using your product or service. At some point in time, you have to transform the leadership from being a legacy to a millennial leadership.
So you see, Technology is a monster but it is a friendly monster and is only there to make your task easier. The more you try to learn, the more you will enjoy working with it. Know more in iSoCIAL’s digital transformation video. Click here: https://www.youtube.com/watch?v=VJnFZFO-7vE&t=41s