This is Part II of the Digital Innovation FAQs series.
Part I talked about innovation, millennials and technology trends.
You can find Part I here:Digital Innovation FAQs Part I.
#4 So where do you start? How do we define the digital transformation strategy?
Every company has its unique brand values and strengths. They also have some vision and strategy in place.
In our Digital Experience (DEX) workshops, we work together with our clients to find the synergy and opportunities… by understanding their customers, their brand values, we go on the discovery, a journey, to see the opportunities where digital experiences can create the most value and impact.
There is a fair bit of research and homework involved. In fact, some of our clients proactively do their own research and have figured out customer journeys and digital opportunities and pain points as well.
The digital strategy is aligned with the overall strategy. We help with the strategy to account for any digital considerations and many companies already recognize this very well.
Understand the customers, embrace the brand values and keep it simple. Strategies built around that can then focus on execution and give great results!
#5 So give us an example of brand values.
For example, take “trust” as a brand value.
It’s still a very people-centric industry… real people dreaming about their own home and they trust lenders… real people who help them. The people in any company work a lot to get the trust of their consumers. Every channel, retail or digital, every interaction, every experience should build trust. Trust is precious… very hard to build but fundamental from a value perspective.
Transparency is another. Most customers cannot understand the lending process and regulations. Lenders spend a lot of time educating customers when their time could be better spent helping them buy their dream home.
By being honest, by being clear about steps, fees, regulations, you build more trust.
#6 And, what is simplicity?
Simplicity here can help by making information simple and clear.
Lenders can then spend their time helping customers. Customers feel empowered because they understand and feel in control. You get operational efficiencies just by simplifying the information.
Simplify the process, reduce the steps, make it easy to use, easy to apply, easy to approve… make it simple.
You get more customers, more referrals, more business… lots of happy people. That is what digital experiences and transformation all about… happy customers!
#6 That sounds simple… Why don’t we see more of that?
That’s why you need to be strategic… have a clear digital strategy with priorities in place. It’s human to want more.
The key is to focus on a few, experiment till you get it right and then scale it for your company. Listen to your customers. Look for business value and impact when evaluating projects and assessing where you are.
#7 Can you show us more?
Yeah, sure. Take a look at our Digital Practice @ Tavant for our offerings and case studies. We will be very happy to reach out and discuss… get it touch!
‘Customer journeys’ is one of the cornerstones of our Digital Experience offerings. We will be publishing a whitepaper on customer journeys soon.
