Companies successful in digital business share common traits. They possess a clear digital strategy, a customer-centric culture, and a strong digital-first ethos. These businesses are on the ‘right side’ of the digital divide, outperforming their peers by 13% in terms of revenue and efficiency.
A clear digital strategy is crucial. Successful companies ensure that their digital goals align with their overall business goals. They focus on creating value through digital initiatives, rather than just implementing technology for its own sake.
A customer-centric culture is another shared trait. These companies prioritise the customer experience, using digital tools to enhance it. They use data and analytics to understand customer behaviour and meet their needs more effectively.
A digital-first ethos is the third key trait. Successful companies are not just adapting to digital, they are ‘being digital’. They prioritise digital solutions, and their leaders promote a digital culture.
Finally, successful companies are committed to digital talent. They invest in training and development, and they hire digital natives. They recognise the importance of having the right people to drive their digital transformation.
Go to source article: https://hbr.org/2017/01/what-the-companies-on-the-right-side-of-the-digital-business-divide-have-in-common