SME owners should consider crafting a winning digital strategy through ensuring top-to-bottom support. Since digital transformation is a large undertaking that impacts any aspect of the enterprise, it is impossible to execute a plan without the buy-in and alignment of all the main stakeholders in the organisation.
While most companies have been moving online over the past few years, digital transition is not a one-time event. It is a continuous approach to how business is conducted that can affect all aspects of the organisation.
Digital transition is not a one-time event.
“SMEs need to understand how much capital they want, and can afford, to invest in a project. Your budget will help you define the scope, timing and phasing of your strategy,” says Gosling.
To do this, it will require business owners to critically evaluate their digital objectives, what they intend to accomplish, as well as defining the kind of experience they would like to offer to their clients and employees.
“Try to keep the long game in mind when you consider these issues. The aim of a digital transition is to help your business achieve its long-term goals. Your vision should be optimistic and positive,” he explains.
Your vision should be optimistic and positive.
In addition, having access to data is critical to achieving transformation objectives. Companies who exploit their data and operate on it easily gain an advantage over their competitors.
An even more significant strategic advantage is developing the ability to collect useful data, convert the data into concrete observations and, most importantly, act on those insights.
According to Gosling, data without insights and insights without intervention are meaningless.
The pandemic has shifted digital transformation into an overdrive. Gosling says that there is no turning back. “People have now gotten used to living in a digital world.”
The growing pressure of digital competition has compelled long-established companies to rethink their marketing strategies. It is important for businesses to recognise that digital innovation influences various sectors in several ways. It provides extraordinary opportunities to follow new market models.