{"id":156114,"date":"2020-09-03T14:00:20","date_gmt":"2020-09-03T13:00:20","guid":{"rendered":"https:\/\/www.smartinsights.com\/?p=156114"},"modified":"2020-09-03T14:49:51","modified_gmt":"2020-09-03T13:49:51","slug":"what-is-digital-transformation-strategy-and-how-does-it-fuel-business-growth","status":"publish","type":"post","link":"https:\/\/www.smartinsights.com\/digital-marketing-strategy\/what-is-digital-transformation-strategy-and-how-does-it-fuel-business-growth\/","title":{"rendered":"What is digital transformation strategy and how does it fuel business growth?"},"content":{"rendered":"

Digital transformation strategy to grow your business: Our recommended planning frameworks to implement your successful digital transformation<\/h2>\n
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More marketers than ever are fueling growth through digital transformation. But with the stakes so high, we want to make sure you get your digital transformation strategy right, first time. That's we're here to guide you through it.<\/p>\n

Discover the success factors for creating a digital transformation strategy to grow your business, read-up on the implementation process for your digital transformation next steps, and explore our latest digital transformation research.<\/p>\n

Outpace your competition in a challenging SME market<\/h3>

Access a complete marketing survival kit to grow your business during a recession<\/p>Get Results, Fast<\/a><\/div>\"Access<\/div><\/p>\n

Why create a digital transformation strategy?<\/h3>\n

Our research shows that today many businesses are realizing the imperative for digital transformation<\/a>; to compete in digital marketing data and technology, a structured process of digital transformation is needed.<\/p>\n

\"Popularity-of-digital-transformation-programmes-2020-700x512\"<\/p>\n<\/div>\n<\/div>\n

The need for transformation is particularly strong in larger, international brands and organisations that need to manage the change of introducing new processes, skills, structures and technologies. Although it's now over 25 years since the first pioneers started to use the Internet for marketing. We were promised that new tactics like web and email marketing would offer cheap, quick and easy techniques to reach new markets. We now know this isn't the case and proactive management of digital marketing is needed.<\/p>\n

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\n \n Managing digital transformation guide\n <\/a>\n <\/div>\n
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Download our Business Resource \u2013 Managing digital transformation guide<\/strong><\/p>\n

This practical guide was created to support our Business members throughout the digital transformation process.<\/p>\n

Access the Managing digital transformation guide<\/a><\/p>\n <\/div>\n <\/div>\n

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What is digital transformation?<\/h3>\n<\/div>\n
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Digital transformation gives opportunities to use technology to drive efficiencies for both sell-side customer interactions and buy-side interactions with suppliers. In larger organizations, the scope of transformation may include both and also internal communications and knowledge management related to the company intranet as shown by this visual.<\/p>\n

\"Digital-transformation-Sell-side-and-buy-side-e-commerce-700x520\"<\/p>\n

The scope of digital transformation strategy<\/strong>
\nSource:\u00a0Digital, Marketing, Strategy, Implementation and Practice, 7th edition, by Dave Chaffey and Fiona Ellis-Chadwick<\/em><\/p>\n<\/div>\n

In this article, we focus on improvements to customer marketing communications to support customer acquisition. The scope of the transformation project may include introducing a transactional e-commerce platform, but this is not relevant for all industries, for example, complex, high-value business-to-business services which are selected by many people in a business may never be sold online. Likewise, some e-commerce facilities may be limited to parts or customer service.<\/p>\n

In our experience, the scope of digital transformation projects is often too narrowly focused on technology. Transformation projects are often rooted in applying digital technology, indeed the\u00a0Wikipedia entry for digital transformation<\/a>\u00a0focuses exclusively on technology.<\/p>\n

We believe this is a mistake since technology is only a tool to deliver customer interactions and support processes across different devices. While selecting the right type of technology to form a martech stack is a key part of transformation strategy, it's best to start with how the customer value proposition and customer experience will be affected and how this meets business objectives for customer acquisition and retention. Opportunities for new ways of doing business through new business models also need to be considered to counter digital disruption by new entrants to a marketplace.<\/p>\n

Harvard Business Review concurs, in their article\u00a0Digital transformation is not about technology<\/a>\u00a0they note that:<\/p>\n

\"Because most digital technologies provide possibilities\u00a0for efficiency gains and customer intimacy. But if people lack the right mindset to change and the current organizational practices are flawed, DT will simply magnify those flaws\".<\/em><\/p><\/blockquote>\n

The article suggests five different lessons to reduce the technology fixation of which we think these are most pertinent:<\/p>\n