Digital Transformation In Marketing : Strategies, Practices

Digital Transformation In Marketing : Strategies, Practices

With the help of cutting-edge technologies, individualised experiences, and data-driven strategies, digital transformation empowers marketing.

The thing that’s transforming is not the technology — it’s the technology that is transforming you.

JEANNE W. ROSS

Digital Transformation in Marketing: Strategies and Best Practices

Digital Transformation is the implementation of digital technologies to assets, processes & products to improve efficiency, amplify customer value, manage risk & discover new monetization opportunities. This symbols a complete re-exploring of how an organization uses technology, processes & people to change business performance.

Further, It modifies how an organization operates & how it involves customers & partners. Any business must remain competitive. It’s also a cultural change that needs organizations to consistently challenge the status quo, take risks & get comfortable with failure. 

The amalgam of such technological advances as computing power, low-cost data sensors, AI, mobility & robotics means that a huge number of business processes will be automated in the next few years. Moreover, These very real technological possibilities are creating vast amounts of business value & disruption today. Future Leaders of the company require a new agenda.

As some questions pop up in our mind like: Is it just an appealing way to say moving to the cloud? What are the particular steps we need to take? What parts of our business strategy need to transform?  Do we need to design new jobs to help us create a framework for digital transformation? Is it worth it?  So, This article aims to answer some of the common questions around digital transformation and digital transformation strategy & give clarity.

Table of Contents:

·       Digital Transformation in Marketing: Strategies and Best Practices

·       Drivers of Digital Transformation

·       Digital Transformation Examples

·       Key Pillars of Digital Transformation

·       Trends in Digital Transformation

·       What Will Marketing Gain from Digital Transformation?

·       How digital transformation might look like for your marketing department:

o   Frequently Asked Questions

o   Key Takeaways:

Drivers of Digital Transformation

A key element of digital transformation is, of course, technology. But often, it’s more about dismissing outdated processes & technology than it is about adopting new tech. Mobile technologies, cloud computing, artificial intelligence, social media platforms & other digital innovations have excessively changed how swiftly customers can get information which consequently changes the quality of products and services they expect from the businesses.

Similarly, this same group of digital tools has transformed what employees & other stakeholders that means business partners & investors expect from organizations. Customers also expect easy-to-use interfaces, and they generally prefer digital interactions that can happen anytime from any device. Further, If businesses want to progress with the speed of digital change. Then, they must operate to expand efficiency with technology wherever possible.

Also Read: Digital Transformation Strategy, Framework And Tools

Digital Transformation Examples

With the fear of being outshined by more agile competitors, companies are seeking to stimulate innovation & plotting digital transformation strategies.

1. Netflix, which began as a mail-based DVD rental company in 1997 is one example of digital transformation. Today, it’s an online video streaming service that provides personalized offerings depending on each customer’s preferences.
2. Domino’s Pizza is another example of a company that has successfully transformed itself for the digital age. It launched innovative tech-driven services such as its Pizza Tracker & mobile technologies that helped power notable growth throughout the 2010s. 
3. Restaurant chains such as TGI Fridays and IHOP are turning to Google virtual assistant software & other artificial intelligence and machine learning tools to improve and personalize service for their customers.
4. Capital One Financial Corporation is another example of a financial services organization. It has utilized digital technology to change how it served its customers. The company started in 1994 when another financial institution outgrowth its credit card division. Now, Capital One is among the top financial institutions in the US as ranked by assets.

Also Read: 21 Best Digital Transformation Books

Key Pillars of Digital Transformation

1. Digitizing Customer Experience–

Rather than the number & size of product or service transactions, the number & quality of customer relationships determine Value. Furthermore, The major building blocks with which companies are digitizing customer experience are customer understanding, customer touchpoints & top-line growth. Use the Digital Transformation process wisely while keeping this point in mind.

• Customer Understanding– Companies are exploring social media to understand what makes customers happy & what drives customer dissatisfaction. Additionally, companies are learning to foster their brands more effectively through digital media. Companies are also building new online communities to advise & develop loyalty with clients in real estate, medical, or financial services products.
• Customer Touchpoints- Customer service can be enhanced notably by digital initiatives. For example, a bank started a Twitter account to respond to client complaints swiftly. This digital initiative also leveraged an expert community, allowing crowdsourcing with various employees & other customers. So, To amplify customer touchpoints, several companies are now giving customer apps. In one hospitality company, smartphone apps are linked to the customer’s profile, enabling unification across apps, SMS & social media efforts. 
• Top-line Growth– Companies are using technology to amplify in-person sales conversations. For instance, Insurance firms are initiating mobile tools to help salespeople & customers involve in analytics-based planning.

2. Developing Digital Talent & Organization-

• Before developing digital talent and organization, thoroughly look into the digital transformation articles to gain knowledge about it. The future organization will look different & operate in different ways. Moreover, The role of talent within the company of the future will include higher levels of interactivity with smart technology. And organizational structure also will play a key role in reformulating traditional roles.
• Gaining Digital Talent– Without talented employees who can use existing digital technologies & adapt to developing methods and new approaches, companies will struggle. Moreover, Companies require people with technical knowledge, counting UX/UI experts, data scientists & data engineers. Hence, Employees that are supple, able to learn & adapt, will be the priority To attract, develop, and keep the people they need, leaders need to adapt their organizations in many areas. Also, teach your new employees about various digital transformation strategies to make them aware about its benefits.
• Attaining Digital Organization– The most essential key to exploring the value-creating power of the future company is a new organizational model. It is based on person-machine processes, centralized data & technology platforms. Human capacity will progressively be required to be installed to designing, auditing & innovate processes as opposed to operating them. Integrative “agile improvement teams” will work with machines to improve the customer experiences & operating processes of the business.

3. Exploiting Data & Advanced Technology–

• Machines offer the possibility for especially more fine decision making. Data & advanced technology enable companies to automate operations, planning broad experimentation as well as lead fast & continuous business improvement. Look at various organization’s successful digital transformation examples and learn how they benefited from it.
• Centralized Data– For future companies, data will become a great asset & also, learning will become an essential ability. Data are quite literally the “senses” of the company’s machines & AI. Companies will need to invest in collecting data (through sensors, data partnerships & ecosystems, and by attaining customer permissions). They will need to invest in the cloud—so it can be used while also being appropriately protected (with necessary privacy policies & necessary cybersecurity).

Also See- What is Lean Transformation and its features?

• Technology Platforms– This is a big challenge for companies with manifold sets of legacy systems. Often, the first step for these clients is to adapt data & technology stores to support key use cases. Further, The technology platforms are designed to allow for quick innovation & enhancement of digital transformation processes.
• Learning Organization– Companies will need to discover the use cases where data can generate huge value. They will need to evaluate the data with AI & advanced analytics, turn it into business actions, track outcomes as well as produce learning loops. Some use cases are advanced production flows or transportation in the supply chain; next best offer or promotion or marketing message in commercial functions. Companies that understand quick learning will drive better decisions & create value as well as a competitive advantage.

4. Digitizing Operational Processes & Business Models-

• Now Companies are being aware of going onto digital transformation journey. And they are also, realizing sound benefits from digitizing internal processes & Business Models. Companies are not only transforming the way their functions work, but also rethinking how functions interact. 

• Digitizing the Process– Automation allows researchers to concentrate on innovation & creativity instead of recurring efforts. One paint manufacturer has created fully automated plants that notably decrease labor requirements, improve product quality & enhance environmental, health, and safety performance. 
• Digitally Modified Business- If we are not going to transform the way, we do business then we’re going to die. It’s not about transforming the way we use technology but changing the way we do business. Moreover, The company is seeking ways to increase physical with digital offerings & to utilize digital to share content across organizational silos. For Instance, A grocery company is holding its traditional business but also using digital to transform a new growth business.
• New Digital Business- Companies are now producing digital products that suit traditional products. For instance, a sports apparel manufacturer began selling GPS & other digital devices that can track and report on a consumer’s workout. Furthermore, Some companies are changing business models by reforming their boundaries through digital. An airport authority is directing to become the holder of a traveler’s end-to-end process by providing a combined multichannel experience, including information on airplane traffic & reservations, duty-free shopping promotions, and other benefits.

Leader’s Tip:

Embrace agility: To create successful digital marketing strategies, leaders should be nimble in their adaptation, experiment with new digital tools and platforms, and keep on top of industry trends.

Trends in Digital Transformation

Here are some key digital transformation trends that business & IT leaders should be aware of incoming years:

1. Better use of AI & machine learning. 
2. Quick adoption of digital operating models.
3. Carry on with merger & acquisition activity in the IT outsourcing industry.
4. Broadening public cloud adoption.
5. Investment in big data governance & analytics.

“We should no longer be talking about ‘digital marketing’ but marketing in a digital world” by Keith Weed.

Check Out the Video –

Different Meanings of Digital Transformation

For people in professional industries, digital transformation meaning is how digital technology is understood, and then applied & combined into our everyday work tasks, whether that is a daily, individual employee level or the wider sense of entire business operations.

In accounting, digital transformation spots the switch from paper-based contracts and invoices to electronic contracts, data collection, and reporting.

On the industry level, by this time digital transformation in marketing has shown what it can do for businesses like Uber & Amazon. Further, These businesses considered traditional business concepts, like transit & retail sales. Furthermore, They applied ingenious digital technologies which left the competition behind as they rushed forwards.

But a digital transformation, as it relates to marketing, competes with its own.

Learn Transformation’s Approach to Digital Marketing

At Learn Transformation our aim is to help leaders create Change that Matters through meaningful growth transformations so that companies can deliver substantial value today and tomorrow.  Today, Digital marketing is no longer about merely adding online channels to the media mix; it is about combining digital into all aspects of marketing.

• New digital channels give rise to dramatic changes in consumer behaviors and expectations. Thus, Businesses must respond by digitally transforming their marketing functions to better anticipate consumer needs.
• We see that a scientific approach, with thoughtful testing and close coordination between advertiser and agency, is essential to elevating performance.

The capability of an effective digital marketer is the talent to convey the correct message to the right person at an accurate time in the right place. By integrating data and digital technologies can increase the significance of services, advertising & offers for a brand’s customers for effective lean transformation. New technologies that apply the latest in automation, machine learning (ML) & artificial intelligence promise to provide powerful new capabilities—at least for those marketers who know how to take advantage of them.

Personalization is Possible

 

• In today’s digital world, we can personalize the content for individual customers. This is the most powerful way by which digital transformation marketing strategy has changed the way digital marketing works.
• By integrating metrics & interactivity, it’s now possible to track the actions and behavior of consumers at an individual level and then take that data to provide a personalized marketing response.
• You can keep track of a customer’s purchase, and then suggesting similar products or in some cases, ‘refills’ for consumable items—is just the tip of the iceberg.
• Keeping Now, with the metrics from social media platforms like Facebook, it’s possible to track the interests of single customers, give guidance, and also send customized emails based on their customer behavior before they change.

Marketing experts no longer need to waste their time by thinking where consumer interest may lie when consumer interest is being tracked on social media in digital marketing transformation roadmap.

“Digital transformation” is a phrase that we usually listen to in keynote presentations & conference rooms, still its meaning is fairly ambivalent. 

What Will Marketing Gain from Digital Transformation?

Digital transformation in marketing refers to the switch from digital comforts to the operative activity of digital brilliance through the proper usage and merger of your digital channels. In more precise terms, it means to filter your digital channels to obtain sound awareness that infuses your viewpoint & upgrades the customer journey.

The main goals of digital transformation are increasing organizational efficiency and improving customer experience in VUCA. More accurately, these goals should be straight connected: increasing efficiency to improve customer experience.

Digital in itself can be a transformation factor for global marketing. Materials can be comfortably findable, quickly passed on & constantly delivered and with this customer experience can be connected across systems & geographies. 

How digital transformation might look like for your marketing department:

1. Refining Your Digital Channels-

The first step is to estimate the value of your current marketing tools & channels. Now, take a close look at your website, automation tools, social media, customer database & analytics platforms. Are there healthier options for your needs? Could you be finer pulling these platforms? An in-depth review of the channels & tools will secure you’re sufficiently equipped to operate your company to success.

2. Breaking Silos-

In addition to optimizing your digital channels, you need to make sure all of these systems are talking to each other and working together during the implementation of digital marketing strategy. Signing in & out of 7 different accounts to stalk a customer’s journey is not a well-organized way to handle it. The correct perspective to digital transformation can remove silos without the need to scrape every single thing & begin from scrape.

3. Interactivity is Changing Marketing-

Social media allows people to interact with company accounts, asking questions and getting responses back in return. Feedback can be given for content they read or view with heart, favorite buttons, thumbs-up, or leave comments. The conversation that can take place on social media & directly on ads, changes everything. With live ads, customers can be on social media and watch an influencer talk about a product helping in effective digital transformation.

4. Automation & Excellence in Action-

The combination of automation and a Center of excellence can ensure a company’s digital assets are accessible to everybody, ready for use as needed. So, Digital transformation for marketing means that when fixed actions or data are acknowledged then the software can act upon those conditions to send emails or customized feedback rapidly, without requiring to inform a human agent to act on a time-sensitive issue.

This kind of automation is now growing as chatbots take on the role of basic customer service support for simple tasks, improving productivity & marketing response.

Leader’s Tip:

Focus on understanding consumer needs, providing individualised experiences, and utilising data insights to forge lasting connections and foster loyalty.

Final Thoughts

Finally, Digital transformation can likely affect a vast range of business marketing & operational activities. So, The clue is to understand what’s involved, learn from digital leaders across sectors, and make sure your company has the processes, technology & talent in-house to progress and thrive.

Frequently Asked Questions

Why is digital transformation important in marketing?

Digital transformation enables marketers to leverage data-driven insights, engage with customers across various digital channels, personalize marketing messages, automate processes, and adapt to evolving consumer behaviors.

How can leaders drive successful digital transformation in marketing?

Leaders can drive successful digital transformation by fostering a culture of innovation, providing resources for training and upskilling, aligning marketing goals with business objectives, and championing collaboration and cross-functional teamwork.

Key Takeaways:

·       Data is crucial: For better campaign outcomes, data analytics is used to provide targeted marketing, personalisation, and ongoing optimisation.

·       Cohesive experiences across several touchpoints are made possible by digital transformation, which improves consumer engagement and happiness.

·       Coordination is essential: Cross-functional teamwork, alignment, and collaboration are essential for the success of digital transformation and marketing because they foster innovation and integration.

Digital

this blog is originally taken from : https://learntransformation.com/digital-transformation-in-marketing/