With all the talk of the importance of digital transformation, those of us keeners who like to prepare over the holidays for the coming year are looking for an edge. To find an edge, you need to look at the digital business network – looking at your business as an ecosystem. An ecosystem said plainly is a connected network of nodes and edges. In this post, we’ll discuss the importance of seeing and planning for that connectivity.
Customer experiences are made up of nodes and edges: Think about it – from the time your future customer gets to you until the time they become raving fans and advocates, there are a lot of dots you need to connect: how did they hear about you? What awakened that need? Where did they go for more information? Who else was involved in the decision? And on and on… Viewing your business as a graph of nodes and edges helps you to plan for putting yourself first in that part of the customer journey. This is why good digital transformation software has this at its heart.
No node is an island: Whether it’s a person, a technology, a touchpoint or team, nothing is an island anymore, they all affect each other. While that seems complex at first, and it is, we shouldn’t shy away from planning out all of those nodes and their connections. Seek to understand how the puzzle of the multi-experience, multi-influencer decision gets made and plan for it.
Operational transformation requires a digital business network mentality: How long have we heard about “breaking down the siloes?” The only true way to break down siloes is to get out of looking at your business as columns and rows and looking at your business as a network – where the nodes are everything from teams, to customers, to technologies and data, and the connections are everything in between.
Digital business model innovation requires companies to connect the dots in unique ways: Business models are basically made up of value creation and value capture. Without looking at your business as a graph, you may be going for value capture where there is little value creation and leaving money on the table where there is true value. Looking at your business as a digital business ecosystem helps you to identify where business value is created and where you can be innovative in terms of value capture.
To find out how digital transformation software can help you connect the dots for your business, sign-up for a 30-day free trial today.