Do you know the difference?
An article in the Harvard Business Review aptly titled “Digitizing Is Not The Same As Digital Transformation” argues that the surge of digitalizing tactics must not be confused with the real digital transformation (i.e. building real, long-term competitive advantage) businesses must undertake to survive, succeed and thrive in the post-COVID digital age.
It’s simply not enough just to scale up your email marketing (and web tech) to support the boost in online shopping and the rapid change in customer expectations in the wake of COVID-19. Instead, businesses need to take a step back and fundamentally rethink the way they create value through different digital marketing ecosystems. What’s required is more than parsing email open and click-through rates.
Most businesses (and marketers) are possibly still a bit confused and have not achieved the level of re-definition of their digital and email marketing efforts like Komatsu or Microsoft. Digital transformation is probably not even a priority on most brands’ agendas (who has the time?). But, it should be.
A study by Criteo discovered that brands are more focused on the following tactical priorities –
- customer acquisition (49%)
- customer retention (47%)
- new offerings (45%)
- reducing operational costs (40%)
- business model transformation (38%)
- building brand value that connects with customers (37%)
- new partnerships (35%)
- ROI improvement (34%)
How does your business scale up on the digital transformation chart?