Steve Nash has twenty–five years across various business roles, leadership, strategy, strategic, entrepreneurship as well as philosophy
There are several research and studies that have been conducted around digital transformation and digital marketing. I will quote some of these studies to present key facts, figures as well as quotes by industry leaders to substantiate what entails digital transformation, the key attributes, objectives, imperatives and success factors for a successful transformation and growth.
Digital transformation is a business imperative
First and foremost, I would like to quote a study by the global technology and electronics major Fujitsu. The study finds that 87% of global companies have already begun their journey of digital transformation. The key to note that nearly all companies are or will be undertaking this journey as a business imperative to succeed, survive or grow.
Key objectives of a transformation
Another comprehensive survey that comes to mind is the one instituted by AHEAD, a leading provider of enterprise cloud solutions. The survey was titled “State of Enterprise Digital Transformation”, conducted by Hanover Research and commissioned by AHE and laid emphasis on how technology enabled end –to –end integrated infrastructure is critical to success of any digital initiative. They key business objectives as per the survey are cost cutting or improvement in customer experience. The survey showed that more than 90% of enterprises were undergoing some kind of digital transformation, of which 77 % with the objective to reduce costs and 71% with the goal to improve experience (71%).
Defined strategy and roadmap for digital transformation
The survey by AHEAD further found a strong business and technology integration, stating that more than ninety percent of the successful transformations – those that were on target or course to target – had a defined strategy and roadmap that included IT infrastructure and operations, with the right focus on DevOps and underlying IT infrastructure as a key part of their digital transformation programs. As we will see in many case studies and examples below, this is precisely what happened.
New Relic, Inc., a cloud–based observability platform, commissioned a research study in partnership with Vanson Bourne, a market research firm, evaluating the success of digital transformation projects. According to the survey 1 in 2 tech leaders were challenged in managing and monitoring their digitally transformed organizations. Most of the survey respondents, (89 percent) of the respondents believe Artificial Intelligence (AI) and Machine Learning (ML) would become important for how organizations run their digital systems. Further, most of the respondents identified cloud migration as a critical success factor towards digital operations. The majority of respondents, 82 percent in US, 75 percent in the UK and 75 percent in Australia agreed that migration to public cloud (i.e., Amazon Web Services, Azure, Google) would be at the core of their digital transformation journey.
Importance of digital marketing
The American multinational software major Adobe, in a survey titled “2020 Digital Trends” revealed certain interesting trends, reinforcing the importance of digital marketing and transformation for successful financial impact on the business. As per the survey, the ability to respond in real time and in context to people’s needs across often chaotic customer journeys goes to the heart of customer experience (CX) management. Larger companies have recognized the need to reorganize themselves around the customer, with cross-functional teams and integrated technology helping to break down the silos that prevent a joined-up and seamless approach to customer engagement.
As we have seen, a successful digital transformation roadmap is a roadmap, requires a critical strategy and then execution to achieve various business goals. The transformation is underlined by a technology layer, marking a critical element in the journey.
This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.
© 2022 Steve Nash