The essence of change in the process of reinvention is to allow a set of capabilities that runs the business to effectively adapt to a new environment and tasks that comes with digitalization.
These elements ( people, processes & technology) are so crucial to any transformation. Therefore if the reinvention doesn’t address them, they will ultimately be underwhelmed and fizzle away. This will culminate to the organization going back to its old ways if not crumbling down.
Importance of people processes & technology
Any digital reinvention must address the value a brand provides to its customers (existing/new) through its products/services. It is important to truly understand what the customer wants.
Identify and evaluate the most important assets for the company. Being able to understand your brands true value and the customer needs will give birth to an opportunity for revenue and reinvention.
Understanding Your Investment.
Digital reinvention is much more than hiring digital execs for a brand. It is the process of understanding what type of talent and reinvention the brand need to achieve its goals. This should be done at all levels of the business.
Digital reinvention is like an investment. The investor needs to understand what the market is all about. Introduction of new skills and empowerment of previously attained skills is part of the investment plan. Keep pace with the ever changing needs of a customer is risk that seldom if never shouldn’t be overlooked.
Effective Digital Transformation of a Brand
Automation of supply chains and information sensitive systems can rapidly increase efficiency. It is however important the current process are not just digitized but rethought.
Rethink a customers journey as they interact with your brand. What would the brand like to gain throughout this process. Map out the touch points, process and capabilities required to deliver on the best possible interactive process. At this point disregard whatever is in place.
Look at what is mapped and what you have. Anything positive that might have been left out and isn’t a redundancy process can be absorbed back into the new process.
No technology No digitization. This doesn’t mean a technology overhaul for the brand. Brands need to ensure that the IT investment during the digital reinvention isn’t just for techs sake but will respond clearly to the business robust needs. Identify how best to work within an ecosystem that your brand thrives in.
