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Digital Transformation: 8 Ways for Businesses to Participate

Today’s business leaders are guiding their respective companies through a world of uncertainty.

However, one lesson learned from the pandemic is the need for a new construct and mental model for technology.

Here are eight ways for businesses to participate in this digital transformation.

Build the Necessary Resources 

The IT departments of tomorrow need to have the capabilities to build custom applications, including those used by marketing to manage customer interactions and conversion. Marketing departments will have to be digitally savvy and capable of managing SEO, influencer marketing, video, and mobile.

Map the Customer Journey

Every sales and marketing team should map each step of the customer journey and understand what information should be delivered at every touchpoint. Further, sales and marketing should agree on which roles shepherd which responsibility every step of the way.

Publish Performance Statistics

Sales and marketing key performance indicators (KPIs) should be published as a predictive indicator of demand. By building a culture of transparency, you bring your employees along for the ride. If you don’t share financial information, find shareable measures that will give employees a sense of the pulse of your business.

Be Targeted With Content

Today’s drip campaigns should be organized by specific targets based on what the marketer has learned about them. Put yourself into your target users’ shoes to know their needs and wants. Make sure that people will gain insights and answers through the content that you will provide them.

Test & Measure Effectiveness 

Know thy numbers. Every company should know its cost of acquisition, conversion rates, and lifetime value. Use A/B testing to evaluate what works. The more times you test something, the greater your chances of accuracy. Learn which levers you can pull with precision.

Help Hire People Who Will Contribute to Success

Employer branding was hot before the pandemic and will be hot again. Carve out a part of your marketing team to support HR in employer branding. Each of your employees is a brand ambassador. With each employee, you have the opportunity to improve your ability to retain talent and acquire new talent.

Use Marketing to Influence the Customers You Already Have 

Increasingly, marketers are looking to create a level of connectedness to their existing customers. The need for the comfort of known brands was magnified during a time when people were motivated by fear. Use facts to reassure your audience that your brand is the one to be trusted during times of chaos.

Be Prepared for the Dip & the Rebound

As COVID-19 persists, companies will have to provide digital solutions. But those who are successful should see a rebound effect in the spring, as they experience double-digit increases against a soft quarter last year. Best-in-breed companies will continue to invest so they can isolate opportunities and be prepared for the upswing.

 

Digital Transformation: 8 Ways for Businesses to Participate

Now you know several ways businesses can take part in digital transformation.

Technology continues to alter how we live and transact, and it will ultimately drive decisions on how we make money in the future.

Management teams have to recalibrate, or they’ll be left behind.

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Research

Vistage Research Center publishes actionable, data-driven insights and expert perspectives from our global community of CEOs and thought leaders. Led by Joe Galvin, Chief Research Officer