The Three Keys to a Successful Digital Transformation

Bill Binch explores three key phases of digital transformation within the engagement economy.

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Digital transformation has become more than a buzzworthy phrase amongst marketers – it has turned into a necessary process for organisations to undertake to remain relevant in today’s crowded marketplace.

The engagement economy plays a critical role in a digital transformation.

The ‘engagement economy’ plays a crucial role in a digital transformation, and Bill Binch, the Managing Director of ANZ for Marketo, emphasised the importance of this in his speech at CMO Disrupt, Sydney.

“The engagement economy is where everything and everyone is interconnected. Organisations are tuning in to listen and learn what their buyers are looking for.”

The engagement economy is all about adapting your message to the variety of touch points now available. Binch talked about this and more when outlining the three key steps in a successful digital transformation.

Personalise Your Engagement  

Marketing today has moved away from campaigns that target masses of people and towards more personalised engagement. When you individualise your sales efforts, the reward will manifest itself in loyalty and trustworthiness from the customer.

Binch says that buyers’ expectations have increased to the level where they want experiences that go beyond a normal interaction.

“Buyers are seeking less transactional relationships with the vendors that they work with and demanding more interesting experiences. They’re demanding a meaningful experience that’s relevant to them.”

“Digital transformation is fast becoming a must-have for all marketers” – Bill Binch

Know Your Customer 

As the customer becomes more knowledgeable about your company and your product, it is important to replicate that familiarity. As Binch states, the buyer of today is unlike any other previously encountered.

“Today’s buyer, whether a business or consumer, is more informed, more savvy, more aware and more particular than ever.”

With this in mind, Binch stressed that the most critical part of a digital transformation comes down to listening to how you can best serve your customer.

“It’s about listening to your customer, learning what their digital footprint looks like and then re-thinking about how you engage with them.”

Binch emphasised how important having a presence on every platform was.

Transform from Within

A digital transformation must be a complete transformation and will fail if it is only carried out in one part of the business. Binch notes that it’s about overhauling the entire way that you deliver experiences.

“Digital transformation is about transforming the organisation at the core to deliver experiences that feel real, authentic, personal and create trust and care.”

He says that marketing must become interconnected with every part of the organisation, and that companies should start thinking about digital transformation immediately.

“Companies that don’t think about transforming themselves will struggle in the future with their growth.”