The D in Digital

Can you imagine your life without the internet? What started with a cable plugged into the phone line has now become an indispensable part of our daily routine. Covid-19 has transformed businesses forever. What’s interesting about this is the fact that customers are driving this change and it is their journey that dictates a brand’s strategy. Whether people choose to engage with a brand via their social media platforms or their website, they expect to have an unmatched customer experience.

When I talk to clients in organizations of every size, across industries, it becomes increasingly clear that data is money. But before I delve into the changing significance of data in today’s digital landscape, let’s take a look at the numbers for a minute.

The net global spending on digital transformation (DX) in 2018 was approximately $1 trillion and is expected to increase to more than $2 trillion by 2022.

To put it simply, although Search Engine Optimization (SEO) was a game-changer in the 90s, businesses today are spoilt for choice with a plethora of new tools and techniques to leverage their visibility, persona and outreach. Digital transformation is more than just the digitization of information. Digging further, it is what actually binds business, purpose and data together. The role that data plays cannot be underestimated because of the simple fact that data drives decisions pertaining to both strategy and growth.

But are leaders able to sift through the noise and extract the information they need?

On the plus side, a customer-first approach is already at the center of most organization’s strategy. 59.5% of the worldwide population is now online, with over 50 million pieces of content shared every single day. The pace at which digital transformation took place in 2020 alone was more than the last decade! And with an increasing number of economies transitioning to digital, the bigger question is – What makes your brand different?

The soft side of management, aka the people-related aspects of running a business cannot be secondary. Because frankly, in my experience, when workplace data analytics are used in a transparent way, it leads to happier employees, which inevitably leads to happier customers. Even though 74% of employees globally report feeling overwhelmed or unhappy when working with data, using data is the only way to drive growth and see real change. But for instance, if only the C-Suite and a handful of employees are able to work with data, half the battle is already lost. Data literacy programs in the form of internal skill-sharing and mentorship initiatives can help your workforce understand how to use data effectively and share best practices.

Although companies might never return ‘business as usual’, kicking off a data-driven digital transformation journey is critical to success. Right from embracing a data-driven future, to upskilling for data and analytic literacy, businesses need to have a plan in place for a data dominated post-Covid world.

Business, Data and Purpose: The Ultimate Triad

Digital transformation can be seen at many levels of an organization – the way employees work, how operations work, and how to collect, analyze, and use data.

Taking stock of each of these levels, understanding what is working and what can be improved is the only way to charge forward and establish a solid brand presence. The truth is, consumers expect relevant content to what they’re doing anywhere, anytime and on the device of their choice. Interlinked with how each of us make decisions, “I want to know,” “I want to go,” “I want to do,” or “I want to buy”, using data in a smart way is all about capturing people’s attention at the right moment, in the right place.

It is no secret that an organization’s digital reputation is what makes the first impression on their consumers. That being said, online reputation management (or ORM for short) is governed by SEO technology. A number of firms have invested heavily in building a strong online presence by generating digital content worthy of views, clicks and links. But only with the right digital infrastructure in place, a purpose-driven business strategy and a culture that is not just data-driven but also ready to pivot at any moment, will organizations be able to thrive even amidst uncertainty.

So, go ahead ask yourself – Is your business at the cusp of change?

If not, it’s time to revisit the drawing board and convert data into real, actionable insights.

About the author :

Asif Upadhye, Director at SPRD