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Why people are curious about Digital Transformation Success?

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“The important thing is not to stop questioning. Curiosity has its own reason for existing.” – Albert Einstein

 Starting right from the creation of simple things like the wheel to exploring the uncharted territory of the outer space and inner space, curiosity is one thing that has kept humans going on and on about their quest for knowledge and excellence. It is the curiosity of one person that made things normal for everyone.

History and the history of Science and Technology have always been about examples of curious people who have changed the world. This makes curiosity one of the most exciting and essential emotions of humankind.

The Curiosity of Success

 Success is a relative term when someone or some organization outperforms the limit of what is considered as normal.whoever or whatever is considered as successful word become role models and the centers of attraction for a lot of people who would look forward to replicating if not beat that quotient of success.

There are instances when success is Defined by a destination and there are instances when the path taken by the people who succeed in their endeavor is of a particular pattern.

When it comes to the success of businesses these days, it is obvious and quite visible that the path taken by them is in the line of digital transformation. Digital transformation has enabled the organizations to get bigger and better leaving their competitors not just behind in the race but also in a state of being dumbfounded on them wondering what went wrong.

Digital transformation is more than a buzzword or a fad for businesses today. Digital transformation is one of the key aspects that is taking the responsibility and the emotion of doing business not just to the lowest employee in mantle but also to the customer.

Any curiosity has to be backed by a reason and that reason is nothing more than the Quest of achieving and the question of why it has not been achieved yet!

Let us look at reasons why digital transformation is creating a wave of curiosity among people who look forward to build a success story out of their business.

Factors That Make People Curious

 Those who have watched this particular episode of Tom and Jerry would that curiosity is not about big things but rather about small things that intrigue the everyday thinking of people. It is important to differentiate between Wonder and curiosity. Wonder is a mass phenomenon whereas curiosity is something more isolated.

However sometimes, curiosity could be so widespread because it is based on the repetition of success by multiple entities at multiple instances. These substances are measured in different ways and most of the Successors can be attributed to digital transformation.

Here are a few factors that make people curious about the success of digital transformation.

Revenue

There is nothing that speaks better about success than the revenues that organizations make. Digital transformation has considerable and steadily contributed to the revenue growth of organizations by creating better lead-nurturing channels that avoid spillovers and leakages, increased employee empathy and overall, better ecosystem of reporting, measurement, accountability, and business-intelligence based on Artificial Intelligence to make the money invested in marketing work for the betterment of the organization at large.

Source: McKinsey & Company

it is obvious that when the sales engine and the product are modified in such a way that It catalyst to a large base of customers come on the revenue is going to drop in automatically. The digital transformation takes care to make the sales Indian effective and also gives a lot of channels to pipe in the feedback from the customers at different levels.

An interesting thing to notice in here is that the pace of the growth doesn’t matter as long as you are growing!

Culture

“The truth is that digital transformation is actually not about adapting to new technology at all — it’s about directing an organization to be more adaptive to change itself.” Lindsay Herbert | Author – Digital Transformation

The fact that a lot of companies that have been considered as juggernauts in their industry have been reduced to nothing because of their impedance to transformation. This speaks a lot about the importance of a culture that is congenial for acceptance, adaptation, transformation, and growth. Digital transformation in itself is a manifestation of this acceptance to change.

However, this is just a starting point of a transformation that is going to cascade down to all the levels in the organization. Digital transformation brings about the more transparent methodology of working for the top management and in turn, making the lower employees feel a sense of belongingness which might not have been possible in the classical organizational hierarchy.

This transformation of culture also brings about an attitude of putting the customer first. This is the way in which the world of products and Technology is progressing today and it is also the reason many giants have failed to survive in this cutthroat world of competition. If not for Digital transformation and if not for methods to tap the pulse of the customer, there would not be customer-centric products in the world today!

Taking Failure With the Right Attitude

 “When digital transformation is done right, it’s like a caterpillar turning into a butterfly, but when done wrong, all you have is a really fast caterpillar.” – George Westerman | Principal Research Scientist with the MIT Sloan Initiative on the Digital Economy

 In any attempt and in any endeavor, failure is inevitable. However, what makes the difference is the way in which failure is handled, and the attitude with which it is accepted. Digital transformation gives the organization, the management and the employees and attitude to take failure in the right spirit knowing that they have not completely failed but at least count methods that work better than how it used 2 as exemplified in the Quote by the Principal Research Scientist at MIT Sloan Initiative on the Digital Economy.

Digital transformation also paves the way to quickly work around any stumbling blocks and arrive at a better process for any task. If the process of digital transformation is done with the right resources at right places, it is going to be a cakewalk not just with the transformation but also in achieving success.

Preparedness for the Future

 “The future will be untethered..” –  Julie Albright | Digital Sociologist – University of Southern California

 

Source: Grand View Research

the nature of the future is captured rightly in one word – ‘Untethered’! the future of businesses will not and cannot afford to be hooked on to something except for their values and mission. This would mean that any organization will have to be extremely flexible while not compromising on the integrity. This nature might look has a threat for a few organizations that have been lacking hard to a few aspects but at the same time, it also promises a lot of opportunities for young and energetic players.

Whether future means hope or scare is what determines the preparedness of an organization for the times ahead. With the digital transformation in place and with the organization, at every level being equipped with the essential means to pick up signals for what the future will be, the future not only looks promising but also pleasurable for the organizations that have adopted digital transformation.

Sometimes, there are companies that look at the few others thinking why would they do something that might not be relevant at that point in time. Only when the future strikes and when they see their competitors be in the fully ready state to face it with a technology or a transformation that was deemed unnecessary at a point in the past, they realize that it was not an imbecile move but rather an intelligent move.

The only thing that is both scary and interesting about the future is the element of uncertainty it holds. While it might be exciting from an artistic point of view, it is not a great site for businesses. Digital transformation might not make you completely future-proof but will surely reduce the extent of uncertainty. It always feels better to make smaller mistakes, right!?

Customer Delight

 All of the above set aspects culminate at satisfying the customer who will give you their money for the value that they receive in terms of a product or service! It all boys down to how much a customer is likely to choose you in the wide sea of competition that offer almost similar services to yours.

“Innovation needs to be a part of your culture! Customers are transforming faster than we are, and if we don’t catch up, we are in trouble!!” – Ian Schafer

Organizations that have either impressed or at times, even spearheaded digital transformation have been the ones not just to delight customers but also making the customers realize that this is where their delight lies. Mobile phone users never wanted their phone to have a gyroscopic sensor to change the orientation of the display but Apple redefined customer delight for them by going into the future that the customers had never even thought of!

The magic of customer delight happens with digital transformation not by chance but also by data and even at times, by intuition and gut feeling. It goes back to the culture of an organization that would be open to trying out something even if it is not heavily backed by data and if the entire spectrum of Management feels that it could be the next big thing in customer delight!

Success – Replicate or Excel?

 Curiosity might kill the cat but lack of curiosity will kill businesses! It is about standing on the shoulders of Giants and looking beyond the mistakes that they have made and not repeat them. If there is something that the past has taught us, in the words of Charles Darwin, being adaptable to the changing environment is quite an important to deal!

Digital transformation helps you change and change better but if you have to be better equipped for the changing times, it is important that you changed to digital transformation.

There might be instances where we might want to replicate the success of our competitor but what digital transformation does in its truest sense is that it equips and inspires you to go beyond success. In the realm of digital marketing, there is no milestone for success and if at all there is the position of that milestone is going to change not just with every passing quarter but with every passing day!

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