Beyond the buzz: What’s behind Digital Transformation?

Everyone is talking about Digital Transformation. From businesses and analysts to journalists and professors, no one wants to be left out. Of course reality backs up the buzz; according to Gartner, IDC and Cantor Fitzgerald Research, the Digital Services market has an estimated size of $71B for Services and a compelling growth rate of 25% CAGR for the next five years. Even Gartner states that 125,000 large organizations are currently launching a digital business initiative, while Forrester projects 65% of all businesses will be using big data analytics to optimize digital experiences by the halfway point of 2016.

So with all this buzz around digital, how many enterprise projects achieve successful, monetized digital journeys that create long-lasting brand equity? There are several factors to take into account when defining the success (or failure) of a digital transformation project. In this post, I would like to focus on two of them:

1. Think first about the customer and not about the channels- One of the most common mistakes that companies make when creating their digital journeys is believing that they will achieve success by going from one channel to an omnichannel approach. In this case the mistake is in thinking that a broader portfolio of channels is the solution, leaving customer demands on the back burner. The user has infinite choices when it comes to the allocation of attention, so any initial interaction is an interruption in his or her daily life. If a product or service is not able to immediately impart its utility, it will likely not be a part of the consumer’s future. It is important to recognize that relevance is at the heart of successful digital marketing - a concept we call “omnirelevance”. This means that companies should take a truly customer-centric approach to their customer interactions. By leveraging user information to isolate “moments of impact” throughout the customer’s journey; a moment of particular need or decision-making  - and taking into account the emotional tenor that the user experiences in these precise moments, brands can deliver highly personalized touchpoints -regardless of the channel used, that serve to enhance these moments, leaving the customer more apt to come back for more.
2. Think about your digital journey with a “Build to Discover” approach- Silicon Valley companies are looking into their digital transformation from a broad perspective. It is not only about the right software product, or about deploying a revolutionary marketing strategy; it includes so much more than that. It calls for a solution that involves ideating and creating a digital journey with products that master the consumer’s needs. Building these journeys require a different approach, that we like to call “Build to Discover”. This concept is based on a new way of conducting digital transformation. Traditionally, these programs start with an inevitable long Discovery session, and once this session is completed the engagement moves into the construction phase. But we have learned from experience that what is discovered in these initial sessions can change dramatically when the product starts to grow and is released to consumers. We know that the real Discover happens along the way and during the construction. It is in this phase when having a team that can execute a continuous discovery process is ultimately much more valuable than trying to focus the discover only at the beginning. This idea brings the benefit of being able to branch-out different initiatives as we build the initial products that drive much more valuable digital transformation. In other words, it is a concept based on digitally transforming by doing.

In conclusion, digital journeys need to happen because your customer is asking for it, but it’s important to observe the experience in real life, analyze it, and seamlessly merge envisioning with execution. This approach is what will enable a deep and long-lasting digital journey. We know that digital transformation is here to stay. Now it’s time to go beyond and aim for more, your customer in the center, your business in the future.