What is digital transformation?
Marc Benioff, Chairman and co-CEO of Salesforce came up with a good definition…(link to article below)
"Digital transformation is the process of using digital technologies to create new — or modify existing — business processes, culture, and customer experiences to meet changing business and market requirements. This reimagining of business in the digital age is digital transformation."
Business processes, culture and customer experiences…
This runs deep, deep into the very fabric of the modern b2b organisation.
Whether you are in Tech, SaaS, Engineering, Operations, Finance, Technical solutions, Law, fabrication, Manufacturing…it’s here and it applies to you.
While most are tinkering around with pallid attempts at lead generation by throwing corporate brochureware on Social Media, others are looking deeper, into very core of their organisations to examine how digital will allow them to function in the ‘now’ and allow them to evolve, transform and grow with the future.
Why is it important we realise the importance for us..?
Digital transformation is changing everything we do…
- Funding
- Banking
- Start ups
- Innovation
- Human resources
- Technology development
- Hiring
- Operations
- Competence
- Health and Safety
- Quality
- Environmental, social, and governance
- Procurement
- Diversification
- Marketing
- Sales
- Business development
- Cost control
- Communication
- Acquisitions
- Culture
…and more.
Social Media is a significant part of the transformational technology of the ‘now’.
Some still see it as a fad or a thing for fun, but it has changed business and it's changed society.
I recently advised a board "you may not like the idea of Social Media for your business, but I'm sure you like revenue, growth and ebitda...".
- Organisations who are transforming to Social are experiencing incredible benefits…
- Becoming the recognised Technical and Commercial digital influencers in their sectors
- Qualified relevance in the eyes of their clients and prospects
- Ownership of the digital share of voice – Digital Dominance
- Trusted advisors within their sector and beyond
- Employer of choice
- A shared sense of purpose amongst the team
- Revenue increase
- Ebitda improvement
Growing networks, having great conversations with helpful new people, become recognised industry thought leaders and (dare I say it...) having fun!
How does the organisation harness this and how do we change business to meet this worldly transformation?
We start at the top….
In his article "Rise of the Digital Director" published last month, Oliver Hawkley Director – Digital and Technology at Norman Broadbent, digs deep into the issue of digital skills and the modern boardroom.
The article is excellent, and I recommend you read it in full (link below):
“Then the pandemic enforced digitisation largely without mercy for those still operating in the analogue age. We had to adapt. All of us. Fortunately, these factors have triggered a change in sentiment. Boards have woken up to the risks presented by a workforce hellbent on remaining connected to each other through digital channels and consumers who are now addicted to e-Commerce. For two years we have learned to conduct our daily lives in the digital realm. This represents a step change rather than a brief flirtation, and it is a habit that won’t be kicked in a hurry.”
With that said, is there now a demand for the digitally skilled board member?
Oliver offers this as response…
“The digital age has been upon us now for over a decade, and the boardroom is playing catch up. Our client base is responding at an unprecedented rate, looking to complement their current Boards of Directors and Non-Executive Directors with Directors skilled in the dark arts of digital transformation and engagement. This is not a simple task because good Governance requires perspective, and in the case of a Digital Director, it often requires the individual to be respectful of the heritage of a business, whilst challenging the team to move into a new digital paradigm.
The more progressive of our clients are trading off the traditional requirement for prior Non-Executive Director experience to secure real-time digital expertise, and not just from a boardroom lens. There is a strong trend towards the Digital Director being a current executive, enabling Boards to acquire the most current expertise. This indicates a significant shift in boardroom dynamics and one which has been a long time coming.”
"The more progressive of our clients are trading off the traditional requirement for prior Non-Executive Director experience to secure real-time digital expertise
So, if the evidence is there for all to see and we have institutions like Gartner telling us that 80% of all business transaction will be conduction through digital channels by 2025 (etc), why is the uptake on this limited to ‘the more progressive of clients…’?
Because we are at the start of an evolution and like any period of significant change, it makes some people uncomfortable.
“We do things a certain way”
“I don’t understand this so it must be defective”
“I have never worked this way before”
“I don’t like this so everyone must feel the same”
“I preferred things as they were”
“lets just do more of what we did before”
“nobody in our sector works in this way”
…all barriers and shackles.
Oliver wrote about ‘the more progressive of clients’ in his article mentioned earlier, these are modern leaders who chose not to be constrained by those barriers and shackles and looked up and around. They assessed and developed a strategy; they were not only open to change, but willing to pick up and carry the flag.
These days its important you give your team all the digital skills and the environment they need to help you transformation your business to digital.
We started with a Marc Benioff quote, lets end with one…
"This reimagining of business in the digital age is digital transformation."
Live Social ‘22
"The more progressive of our clients are trading off the traditional requirement for prior Non-Executive Director experience to secure real-time digital expertise"
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