Why digital optimization is the new digital transformation

by | Jul 29, 2022 | Technology

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Digital transformation efforts have become a critical investment for companies looking to compete in the digital-first, customer-centric era. For companies who were just beginning to invest in these changes, the pandemic rapidly accelerated the need for digital products — but shifting to digital is a long-term, resource-heavy investment. IDC predicts that companies around the world will spend $6.8 trillion on digital transformation initiatives by 2023. 

The key to a successful digital strategy is understanding what keeps your customers coming back, and then optimizing and personalizing digital experiences based on those insights. Some other key considerations that every company should keep at the forefront of digital transformation projects include what follows.

Digital transformation is more than just digitization 

The general misunderstanding that digital transformation and digitization are one and the same is often the first and most common failure point for organizations. Simply bringing a non-digital product online is not digital transformation. Organizations must ingrain a digital-focus at the core of the business. For instance, a hotel moving their reservation process from over the phone to their website is digitizing their user experience, whereas organizations like Airbnb and HipCamp completely revolutionized the getaway experience. 

While digitization remains an essential part of the digital journey, it’s not the turning point that will help you attract and retain customers. Digital transformation requires organizations to rethink how to deliver value to their customers in a digital-first world and transform their business model, processes, and products to reap the full benefits of their digital technologies.

Customers will tell you how to keep them — if you’ll listen

Digitization unlocks the ability of businesses to continually engage with customers over time, shifting investment aw …

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