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Author Thought Leadership Paper on Digital

As the world moves to digital transformation it is best that the businesses also start thinking in terms of Digitally transforming their businesses. The older business models are no longer beneficial at the current times. Organizations should start now thinking in terms of what is ahead while maintaining their core values.

This will have to follow an innovation path as it has never been followed before. The four key elements for Innovation are:

  • Customer Value – This means how does the business model in digitized format support the customer’s goals.
  • Profit Formula – this means how does the model demonstrate value for the organization.
  • Key Resources – this is to support the customer’s value proposition.
  • Key Processes – this is to support the customer’s value proposition in terms of automated processes in comparison to manual processes.

Not to mention, there is no flow as such an organization must follow to go through digital transformation. Eventually, as things and states evolve these would stretch and evolve as well.

We all know that Digital is not the answer by itself. However, this also does not work on its own. It requires encouraging innovation in any organization. Even if it is a public domain organization innovation and mindset change is required for all to succeed together. Currently, it is very easy for consumers to find an alternative.

When anyone says user experience it is not how the user feels, rather it is how the user interacts with the product. For example, when we want to turn a light switch the functionality might work as expected for a product. However, the impact also is there when we interact with the switch, in terms of colour, material and physical appearance of the switch.

What it means by designing UX:

  • Usable: A product needs to be simple, easy to use, and familiar.
  • Useful: A product must fill a need. If the product isn’t filling a perceived gap in the users’ lives, then there is no real reason for them to use it.
  • Desirable: The visual aesthetics of the product need to be attractive and evoke positive emotions.
  • Findable: If the user has a problem with a product, they should be able to quickly find a solution.
  • Accessible: The product or service needs to be accessible to everyone, including those with disabilities.
  • Credible: The company and its products need to be trustworthy.

When defining and designing UX here are the five things that need to be considered.

  1. UX design is more than good usability.
  2. UX design is not the same as UI design.
  3. UX design is about people.
  4. UX design is not a one-time process, it is an ongoing process.
  5. UX design should account for business needs.

While following these steps and designing the experience, the customer’s journey from one end to another is also something that needs to be considered. This would be the responsibility of the product management to ensure that the user experience along with the journey from end to end perspective is taken care of.

Most of the times it fails because new products do not get enough traction in the market. The reasons are numerous. To name a few some are organization structures are dysfunctional, they are not interesting to the team who is working for the product, the mentality is still the same old mentality.

All in all, the mental and organizational structures of the last century is useless in the 21st century. To enable product teams to get the most out of the product Lean Product Management provides some guidelines which if followed will ensure that the common goal for the product is achieved.

To apply lean product management here is what we must do in the current model of the business where everything is going digital.

  • Increase awareness and transparency
  • Focus on prioritization
  • Pay attention to the flow

These methodologies will not only help in getting the value out to the market faster. At a time where market competition is so fast and intense being right the first time is more important than ever. It is critical now more than ever to learn these management methodologies to become a modern, efficient leader.

Considering having the product ready, now it is even more important to personalize it. The techniques that could be very persuasive for the potential buyer of the product would be to connect with them at a personal level. For example, social media posts connecting with the product’s vision and aligning it with the expectations of the people who are working in it or working for it. This is more like a schoolchild telling why footpaths are more important for roads that are near schools.

The most powerful techniques are:

  • Reciprocation
  • Commitment and Consistency
  • Social Proof
  • Liking
  • Authority
  • Scarcity

With this, the team should always be able to measure what is working and what is not working. Not only this but real-time analytics help decide to give the right product to the consumer at the right time. It helps in getting promotions if applicable to the people where it would generate revenue as well as customer satisfaction.

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Today, why Analytics is playing important role in digital, is due to the amount and variety of data generated is skyrocketed. Making forward-looking proactive decisions is possible via forecasting, optimization, predictive analytics, and text mining. Data is the new oil, but it is crude, and cannot be used unless it is refined with analytics to bring the new gold nuggets.

Google Analytics is one of the tools which has the tools available at its discretion to provide us with all such details. Using analytics, we can:

  • Analyse the sources of traffic
  • Information about visitors
  • The popularity of a page in a website or product details page for that matter
  • Bounce rates from a product or page
  • Historical data review and user behaviour prediction

Just by doing all this, we are not going to be able to do a digital transformation for an organization in one day. We need to follow some best practices as well to continue doing what an organization does the best.

  1. Communicate clearly to align with the employees
  2. Create a sense of urgency. From an important perspective here is what is important to communicate to employees. Image is taken from the Internet.
  3. Work on the overall culture of the organization.
  4. Support from all means the culture of innovation
  5. Eliminate fear
  6. Communicate frequently
  7. Engage all employees
  8.  Close the skill gap.
  9.  Reward employees when something gets done to celebrate small wins.

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