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Why Businesses Must Embrace Digital Transformation

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Information about Why Businesses Must Embrace Digital Transformation
Business & Mgmt

Published on March 5, 2014

Author: discerningdigital

Source: slideshare.net

Description

As the rise in sophisticated digital technologies drives an exponential change in online customer behaviour, the need for businesses to embrace digital transformation has never been greater.
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Why Businesses Must Embrace Digital Transformation Manchester Metropolitan University

Agenda           What is digital transformation? Context and key drivers Deconstructing the discipline Transformational process Summary and further reading

Associated Phrases

What is Digital Transformation?

Digital transformation simply refers to the changes and challenges associated with digital technology, across all aspects of business. Discerning Digital

If you haven’t heard of it, digital transformation is the catchall phrase to describe the process that organisations undergo when they adopt digital technologies such as the Internet, mobile, and cloud computing. Forbes

Digital Disruption

The Internet is like nature: it’s very, very big and basically wants to kill you. Hugh Macleod, Gaping Void

Today’s leading companies are already becoming obsolete. In 10 years, 40% of the Fortune 500 was replaced. Brian Solis, principal at Altimeter Group

The only wrong move when it comes to Digital Transformation is not to make any move at all. Didier Bonnet, senior VP and head of global practices, Capgemini

The Connected Customer

The Connected Customer

With digital transformation the consumer, rather than the technology, is in the driver’s seat, and this matters. Digital transformation is forcing businesses to rethink what their customers value and how to meet those needs. Forbes

Trust Revolution               Online advertising = 33% Trusted completely or somewhat Adverts of radio = 41% Adverts on TV = 47% Emails I signed up for = 50% Branded websites = 58% Same as editorial / newspapers Consumer opinions posted online = 70% Recommendations from people I know = 92% Source: Neilsen: Trust in Online, Social and Mobile Advertising Grows.

Customer power shift f1. Pre-Internet Revolution 20% 80% Customer Seller f2. Today 80% 20% Customer Seller

Deconstructing the Discipline

Digital Transformations 5 in the series to date:   July 2011: The Challenges of the Digital Revolution   Jan 2012: Talking' Bout a Revolution   Nov 2012: Digital Transformation: Making It Happen   May 2013: Accelerating Digital Transformation   Nov 2013: Gearing Up for Digital Operations

Digital Transformation: What’s Involved? Customers, Marketing, Content, Sales Technology, Infrastructure, IT, Data Analytics, Monitoring, Benchmarking Digital Consultancy, Change
 & Risk Management Process, Management, Efficiencies Finance, Legal, Compliance People, HR,
 Culture

Transformational Process

Digital Transformation: Our Process Assess Align Insights Risk Opportunities KPIs Strategy Establish Roadmap Transform Training Infrastructure Compliance People Culture

Summary – Why do businesses need to embrace Digital Transformation? Because of: -  Digital disruption -  Speed of change -  Connected customer   To remain viable   To combat increased competition   To protect against new digital risks

We are at the end of the digital beginning as companies reshape and retool for life in the new normal. PWC's Global entertainment and media outlook: 2012-2016

Further Reading… What’s the Future of Business? PURPLE COW Seven New Laws for a World Gone Digital Who Owns the Future?

There is no room for complacency in the fast-moving digital world. Neelie Kroes, European Commissioner for Digital Agenda.

Thank you www.discerningdigital.co.uk @DigiCoachHouse

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