Digital business exploits the capabilities of social media, mobile devices, cloud computing, big data and decision management that we use to manage our daily lives to orchestrate business processes to improve customer experience, improve internal processes and create new business models.
You’ve always had the vision; now you’re ready to move forward and become a digital business leader. You are ready to engage with your customers frequently and in meaningful ways. You want to combine data from all systems, sensors and equipment to optimize business processes. You are ready to take your organization to new levels with revised business models.
If you are aspiring to be a Digital Master, then providing a superior customer experience should be a high priority component of your comprehensive digital business program. Think Starbucks Coffee Company’s mobile app and the impact it’s had on customer loyalty while simultaneously increasing same store sales and reducing costs. But you don’t have to be some ginormous business-to-consumer behemoth to benefit from customer experience improvements. Opportunities abound for aspiring companies in a variety of industries such as manufacturers, distributors, financial services and healthcare to provide better customer experience and reap the same benefits.
Begin the journey to digital mastery by providing customer experiences that will keep them loyal and enthusiastic about your brand. Or you competitors will.
While your internal operations may be virtually invisible to your customers, it’s the heart of your business. Digital business leverages social, mobile, analytics, cloud, automated decisions and internet of things (IoT) to improve your operations by doing things like reducing paper flow, controlling fraud, improving quality and automating systems in ways that don’t just augment your existing business processes but allow the processes themselves to undergo a transformation to yield significant cost reduction and improved revenue which combine for enhanced profits and build competitive advantage.
If your company is poised for a digital transformation to improve your operations, Mariner is ready to help.
In Leading Digital, authors Westerman, Bonnet and McAfee claim successful digital transformation starts at the top of the company. As a leader, it is your job to reinvent your business model to create new value for your customers in exchange for what your organization values, be it any combination of profit and changed lives. New business models are the consequences of a new machine age, the effects of digital, exponential and combination of factors as described by Erik Brynjolfsson in his Ted Talk in which he says:
“Here’s an example. In just a matter of a few weeks, an undergraduate student of mine built an app that ultimately reached 1.3 million users. He was able to do that so easily because he built it on top of Facebook, and Facebook was built on top of the web, and that was built on top of the Internet, and so on and so forth.”
Further decomposition of this example reveals the elements of analytics, big data, cloud, machine learning and social behavior are the mélange of technologies to be leveraged to become a digital master. Westerman, Bonnet and McAfee advise:,“Whatever your industry you need to be on the forefront of challenging your current business model. Otherwise someone else will.”