While it may come as a surprise to many, the term “digital transformation” has been part of the business vernacular for nearly three decades.
Once considered a futuristic buzzword that spoke of things to come, digital transformation has clearly found its way into the mainstream. It is considered a necessity for businesses, especially as it relates to attracting and retaining customers.
However, despite its rise in prominence, it’s still something that many businesses struggle with. As a matter of fact, research firm Everest Group reports that 73% of digital transformations fail and do not provide the intended business value.
For businesses attempting to adapt to a rapidly evolving set of consumer preferences, this daunting statistic represents a genuine risk to the customer experience. So how can your company avoid this type of costly failure?
Whatever stage of digital transformation your company is in, here are some crucial guiding principles to keep in mind:
Strategize First
While it may sound like common sense, it’s imperative to have sound strategic goals in place before embarking on a digital transformation. In a rush to adapt to market or boardroom pressure, far too many companies move quicker than they are equipped to and make dramatic changes that aren’t necessarily right for their business and customer base.
I’ve read several recent studies about digital transformation failures. Respected sources such as Deloitte, Forbes, Boston Consulting Group, and more all point to a lack of internal planning and strategic alignment as a primary barrier to success. This is consistent with what I’ve observed.
Your broader business strategy should guide digital transformation, and buy-in should be achieved throughout your organization. Only then will you avoid the expensive and time-consuming changes and breakdowns that are an all-too-common byproduct of a hasty approach.
Avoid The Urge To “Over-Digitize”
Similarly, many businesses have a knee-jerk reaction to implementing new technologies in the contact center. As consumers become more comfortable with self-service options such as virtual assistants or chatbots, there is a natural temptation to rely too heavily on these tools, taking away the human element and negatively affecting customer satisfaction.
As my colleague Sean Bennett pointed out in a recent blog post:
“Today’s customer wants the option to be served in their preferred method, and we know that these preferences vary wildly. Some love the convenience of self-service options, some want only to speak to a human agent, while others prefer a blend of both options depending on the individual circumstance at hand.”
Therefore, it’s essential to understand that digital transformation in the contact center is not about technology alone. No suite of the latest technological tools has the power to transform the customer experience. Instead, a strategically developed digital transformation is about finding the right combination of people, processes, and technology designed for your customer base.
Utilize The Right Partner
While the decision to embark on a digital transformation to support the customer experience is one that absolutely needs to be made internally and at the highest levels, there are countless examples of failure due to companies “going it alone” from a strategy and implementation standpoint.
Even the world’s largest companies have struggled with the stress on internal resources that this type of transformation leads to. Couple that with a lack of practical experience with similar initiatives, and it’s easy to see why finding the right partner to guide you is so critical.
The right partner will provide many benefits, including:
- Relevant experience with similar projects
- Less stress on internal resources
- Reduced investment in technology tools
- Ability to remain focused on your core competencies
- Risk mitigation
The right partner will also be committed to a strategy that is developed specifically for your business and customer base, thereby significantly increasing your success.
Struggling with digital transformation to meet current customer preferences? Considering which tools and approach will improve the customer experience? We’d love to chat. Drop us a line at sales@servicingsolutions.com.