Every business leader must have a clear and common understanding of exactly what becoming digital means to them, their business and, what strategies are best employed and the values they adopt to engage their customers.
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1. Becoming Digital – What it means?
Companies today are rushing to be a part of the global internet conversation and to become more
digital. But what does “becoming digital” really mean? For some, it’s about technology, for others;
digital is a new way of engaging with customers/ consumers. And for others still, it represents a new
paradigm of doing business. None of these definitions are necessarily incorrect. Such diversity in
perspectives often challenge leadership teams because they reflect a lack of congruency, alignment
and a common vision about where the business needs to go. Misguided efforts and initiatives often
results in missed opportunities or poor performance.
Every business leader must have a clear and common understanding of exactly what becoming
digital means to them, their business and, what strategies are best employed and the values they
adopt to engage their customers.
Simple definitions…there are none! It’s about the way we do things, going back to basics if you will.
What values will we create in the new E-economy, the simple and elegant customer experience, and
building the foundations of a great ecosystem.
What values will we create in the new E-economy?
Becoming digital requires being brutally honest and examining the entire way of doing business and
understanding where the new opportunities of value are. For some companies, capturing new
opportunities may be about developing an entirely new complementary business segment in
periphery categories; for others, it may be about identifying a new stream of income from existing
sectors.
The Internet of Things (IoT), has started to open opportunities for disrupters to use unprecedented
levels of data precision to identify flaws in existing value chains. Competition for many of the
world’s top global companies is no longer coming from China, India or America. Today it’s coming
from two guys in a garage with a startup leveraging exponentially growing technologies.
In the same breath, becoming digital means paying very close attention to how a customer decision
journey is evolving right before our eyes. This means understanding how the customer behaves and
how his expectations are developing inside and outside your discipline, as well as outside your
industry, which is critical to getting ahead of the trends that can deliver or destroy value.
The simple and elegant customer experience
Digital’s simple and elegant experience is rethinking how to leverage new capabilities and improve
how customers are served. This obsession with understanding each step of a customer’s buying
journey—with no reference to its channel — and being mindful about how digital capabilities can
design, execute and deliver the best customer experience, across all parts of the business.
Critically, digital isn’t just about a transactional one-off customer journey. It’s about a
transformational implementation of dynamic processes and capabilities that are constantly evolving
based on feedbacks from the customer, fostering ongoing product and/or service loyalty. This
happens through an interconnected/ interdependent relationship of 4 basic rules of engagement.
2. 1. Proactive Decisions.
Being Relevant is the foundation of the digital age. Making decisions based on business/ data
intelligence that deliver cutting edge content and memorable experiences that are personalized,
heartfelt and relevant to the customer.
Web analytics firms like Tealeaf®@IBM, Mattersight, Enkata, blend data from multiple channels
into one view of what customers are doing and what happens as a result. In the back office, analytics
and intelligence provide critical visibility, insight and answers to help companies meet online
conversion and customer retention objectives.
2. Context Aware Ads with Interactivity
Analyzing how a consumer is interacting with a brand and modifying these interactions to improve
the customer experience are salient features as a customer shifts from a mobile phone to a laptop or
from evaluating a brand to making a purchasing decision.
The more frequently a customer interacts/ engages generates a stream of intelligence that allows
brands to make better decisions about what their customers want. The rapid rise of wearable tech
and the Internet of Things (IoT) enable companies to blend digital and physical experiences even
more providing both the physiological and psychological anchors.
3. Automation Here and Now.
Engaging with the customers in dynamic real time, helping them to complete a task requires an
incredible amount of automation. Automating customer interactions can increase the number of
self-service options that can help resolve problems quickly, personalizing communications to be
more relevant, and deliver continuous consistent customer experiences no matter the channel or
device.
4. The Experience-focused marketing.
Engaging customers successfully gives companies the permission to be innovative and creative in
how they interact with and sell to them. That may include expanding the existing customer journey
into new businesses and services that extend the relationship and experience with the customer,
ideally to mutual benefit. These innovations and creativity in turn fuel interesting interactions,
creating more information, and increasing the value of the customer-brand relationship.
Building a great ecosystem
The final rule of engagement of our definition of becoming digital is about the technological and
organizational processes that allow an enterprise to be agile, flexible, and quick to respond. This
foundation is made up of two elements:
Personal Paradigms. Being digital is about leveraging data to make better and faster decisions,
empowering decision making to smaller teams, and developing more iterative and rapid ways of
doing things. Thoughts in this direction shouldn’t be limited to just a handful of functions. It must
incorporate a broad vision of how companies operate, including strategic partnering with external
companies to extend capabilities. A digital mind-set anchors cross-functional collaboration, flattens
3. hierarchies, and builds the environment that encourages and rewards the generation of new ideas.
Incentives and metrics are developed to support such decision-making agility.
The Architecture.
The commitment to building networks that connect devices, objects, and people is a key feature of
digitizing IT. Becoming digital is about unleashing growth now!! How companies will interpret or act
on that definition will differ. Having a clear understanding of what becoming digital means equips
business leaders to develop a vision of what strategies are best to capture value.
About Rich Source
Agensi Pekerjaan Rich Source Sdn Bhd (AP RICH SOURCE) is a registered employment agency accredited with the
Human Resource Ministry of Malaysia. Established in Malaysia in 2012, we are a full spectrum Human Resources
organization specializing in Executive Search, Staffing Solutions, Digital Talent and Human Resource Consulting
(Organizational Development, Executive Coaching, and Employer Branding).
We work with clients across a range of practice segments, from the world’s largest companies to medium-sized
businesses, entrepreneurial start-ups and private equity firms across the board. Our professional services are
grounded in diligent, rigorous and imaginative research and proven through two decades of successful senior
placements across Asia and Europe. Our process is continuously refined and adapted to keep pace with the realities
of an ever changing world.
Richarde Edwards Churme is the Consulting Partner at AP Rich Source. He brings 25 years of successful
commercial experience to his role. Prior to entering the executive search field, Richarde served the Energy, Human
Resources & Technology Sector with Shell, ICM Worldwide, and NIIT receiving awards for Best Performance with
Shell, ICM Worldwide UK, NIIT among-st others.
He is well-disciplined with the proven ability to manage multiple assignments efficiently under extreme pressure while
meeting tight deadline schedules. Strong team builder and facilitator, fosters an atmosphere that encourages highly
talented professionals.
Reach out to us on www.aprichsource.com or send us en email to info@aprichsource.com
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