The second step is to understand your customer base. Understanding your customer starts with knowing what kind of population you are targeting. What is the total volume of customers looking for the service or product you sell? What volume of the total customers buys from you? Are they willing to buy your product from digital platforms? How will digitalization affect your relationship with your customers?
Gathering data from these questions will give you information to base your strategy to increase your customers and satisfaction.
Further, what comes is the analysis of the market. The market is made up of competitors. You need to look into the number of competitors that are already digitized. Then you need to look for the scope of profit from the market once you digitize.
The competitors and the advantages they have over you need to be analyzed. This starts with finding shortcomings in the market and converting them into opportunities. You will have to find issues to solve, which will give you a competitive advantage in the market. These opportunities must be addressed in your transformation strategy.
To realize your goals of business transformation, you will need to get data about the resources available to you. These resources can be in terms of capital, time, and workforce. The amount you can invest in the digitization of your enterprise is limited. The goal needs to be attained reasonably, and getting a skilled workforce for digitizing your enterprise needs to be planned. You might need to approach digital transformation consulting services to plan these resources’ distribution.
Transformation can be achieved only by improving the current status of your business. The analysis of the present status can be done quantitatively by reports of various kinds. If you have any means of gathering data and analyzing it, you can get statistics about the present situation of your business. This can include your sales, your profit, your losses, the performance of your employees, etc.
Now that we have collected an enormous amount of data, it is time to use this information in planning your actions. Planning can include deciding the platforms you will use for digitization, distribution of budget into buying software and hiring developers, deciding the website and application framework, steps in which digitization will unfold so that you can keep your business running alongside, etc.
