4 Digital Transformation Examples And Success Stories
Organizations are trying to modernize to keep up with the rapidly changing business landscape, and digital transformation has become a top priority for businesses that want to meet their resilience imperatives.
We’re going to take a look at the top four digital transformation examples and success stories.
A successful digital transformation initiative prepares leaders for the future and industry 4.0. However, according to a study, less than one-third of the measures are successfully sustained. High-tech, media and telecom industries are also struggling despite getting the longer end of the stick in digital capabilities.
Where are organizations going wrong?
Companies tend to fall short of their expectations when they view digital transformation as the endpoint instead of thinking of it as a journey. A lack of clear vision will deter any progress they can make, even if they automate their processes and streamline their workflows.
Similarly, following the competition’s footsteps and taking a myopic approach can be a major setback for an organization. Often, leaders also make the mistake of not notifying the employees on time and not considering that they will need assistance as well. Digital transformation is not a one-time initiative, and it requires constant iteration and follow-ups if an organization wants to avoid becoming complacent.
What’s the right way to do it?
Digital transformation operates as a matrix function that impacts each department and aligns its goals toward a unifying goal. The outcome is to either improve the customer interactions, the customer experience or make the business more competitive. While the initiative should be user-oriented and focus on the customer’s needs, the impact is on the overall business.
Let’s look at how these four dynamic companies took on digital transformation head-on.
Nike’s digital transformation success story is inspirational, to say the least, because the company pushed the boundaries on innovation to truly introduce a breakthrough that no one in the shoe industry had done before. It made it possible for customers to customize their shoes online via NikeiD to design a unique shoe entirely for themselves. It’s one of the best examples of creating more customer engagement while addressing a pain point and increasing sales.
Following the success of this initiative, they launched another custom design service called Nike By You, which helped customers create their pair of shoes instead of getting limited-edition shoes that were more expensive.
The second-largest retailer in the United States utilized a unique digital transformation initiative to reorganize the way customers shop for their products during the pandemic. They introduced a new shop and buy model through the Target app that allowed customers to browse the catalogue online from home, order it and collect the product either from a curbside pickup station or from the store itself.
This played a huge role in reducing crowding at the stores, especially when the risk of the virus spreading was high. It was also more convenient for customers always on-the-go and who wanted a more efficient shopping trip. The app also gave them access to unique insights, behavior trends, and other shopping habits.
They also introduced a drive-up service that allowed clients to arrive at a parking spot designated to them and have their car loaded with their online order in under 3 minutes. It’s a prime example of how companies can leverage digital transformation to get a competitive edge.
Sephora gets credit for being the first beauty retail company to understand the importance of data in creating a more customer-centric shopping experience. The store’s out-of-the-box digital strategy merged the digital and physical shopping experience with personalized email campaigns. They were also first to introduce an augmented reality tool to allow users to virtually try makeup for makeup enthusiasts looking for the perfect shade.
This is an example of how a company takes a user-centric approach to find a solution that benefits the end-user and how data-driven decisions lead to exponential growth. To stay up-to-date on the latest in digital transformation space, get in touch with our digital experts.