Business success in the era of digital transformation requires a thorough understanding of the digital customer experience (DCX). Businesses that embrace digital transformation, according to Gartner, will be able to spot opportunities and act in a matter of seconds. On the other hand, companies that fail to adopt new digital technologies will face what MIT Sloan Management Review and Capgemini Consulting foresee as competitive obsolescence.
A new research report, Digital Transformation: Why and How Companies are Investing in New Business Models to Lead Digital Customer Experiences, by Brian Solis, with Charlene Li and Jaimy Szymanski of Altimeter Group, defines digital transformation and presents the related business challenges and opportunities. The report is the result of interviews with 20 digital strategists and executives at 14 of the world’s leading brands conducted from September 2013 through February 2014.
The findings of the new Altimeter report are in close alignment with my discussions with Perry Hewett, the Chief Digital Officer (CDO) of Harvard University and the first CDO in higher education, about the Six Tips for Tackling Digital Transformation. Perry stressed the need for a high-performance digital team, while simultaneously making digital everyone’s job. John Hagel, co-chairman of Deloitte’s Center for the Edge, warns about the dark side of digital transformation and recommends asking the right questions and cultivating influence through trust to smooth the process of digital transformation.
The infographic below highlights the key findings of the Altimeter report, articulating the benefits of digital transformation, and offering a change agent’s agenda. You can check your progress toward full digital transformation with our 50 Digital Marketing Metrics. Another measure of how far a business has progressed toward digital transformation is the notion of Digital IQ as advanced by PricewaterhouseCoopers. These provide excellent companion pieces to the new Altimeter study for companies serious about digital transformation.