A shocking 70% of all digital transformation projects fail, according to data gathered by McKinsey. Why? The simple answer – change of any kind is a huge undertaking, digital transformation even more so and with so many moving parts, it’s easy for things to go awry. There are some very common mistakes companies make such as not having a solid strategy, not including their entire team, or taking on this transformation for the wrong reasons. Here’s how you can avoid making some of these mistakes.
Not Fully Committing To The Change
One of the greatest setbacks you can face is resistance to change. If your transformation strategy is ever going to be successful, all parties involved need to commit to it. Far too often companies will spend thousands of dollars outfitting the business with the necessary technology only to find that their team refuses to utilize this. If there are any members who are resistant to the change, this is something that needs to be addressed in the early stages of planning or the entire initiative could fail.
Before any new technology or processes can be introduced, allow your team the chance to share their opinions and raise their concerns. Maybe they’re willing to try but simply do not know-how. This is your opportunity to ensure that they are well-informed and educated on these changes and the motivation behind them to ensure a more seamless transition.
Improper Planning And Testing
Your project is only as good as your strategy. Once you’ve identified what your end goal is and why you want to achieve this, you need to carefully map out each step that will get you there. Design thinking plays a huge role in reducing your chance of failure. There has to be a clear path forward and contingencies in place for any possible outcome.
The testing phase of your design thinking process also offers you the chance to go back to the drawing board and iron out any issues you have rather than launching a half-ready system. You need to accept that as you go along, new opportunities will arise and you need to be adaptable to them. An inability to ‘go with the flow’ or adjust to meet the new demands of your customer base will ultimately lead to failure.
Focusing More On Competitors And Less On The Company’s Own Growth
Let’s face it – every business wants to outdo their competition but if that is your sole focus, you won’t get very far. Your primary reason for implementing a digital transformation strategy shouldn’t just be to beat a competitor – it should be to grow your own business by providing solutions to your customers’ problems. Getting an edge over other companies is a fringe benefit to a successful strategy. Before you undertake the initiative, you and your team need to identify your major objective and align on this.
Are you trying to make communication more effective? Offer your customers an easier way to shop with you? Ensure you have repeat business? By honing in on your objective and the reason for initiating this transformation process you’ll be better able to create and execute a strategy. You’ll be putting steps in place that help you achieve this objective, and capitalizing on unique opportunities to help push you forward rather than trying to imitate your competitors’ model.
Aligning With The Wrong Digital Partners
Digital transformation is a huge undertaking that requires a specific set of skills. You and your team might need extra insight in integrating technology into your business model. This will require you to work with a digital agency or hire new team members and you have to choose wisely.
Do they have experience in achieving the company’s objective? Do they align with or support your company’s values? Are they willing to train your team to maintain your new systems or work with your company on a long-term basis? By engaging the right digital partners, not only can you launch a successful system, you can easily adapt to changes because you have someone who is well equipped working in your corner.
Our team has launched numerous successful digital transformation projects for companies across the region and we’re always looking for new ways to assist companies with their own growth. We take a customer-first approach and work closely with our clients to ensure that we understand their objectives and can deliver on what they need.
Digital transformation has become increasingly important as we see how technology is giving companies a much-needed boost in the midst of the ongoing pandemic. Without being properly informed and prepared for the undertaking, however, many companies find that their projects fail which sets them back greatly. One of the best ways to give your company a fighting chance is to partner with a team that has the experience to guide your project to success and that’s what our team can offer you. Let’s talk about how we can help!