During the COVID-19 pandemic, companies realized their digital capabilities were insufficient. Hoping to return to pre-pandemic normalcy is no longer a valid strategy. Employees and customers expect high levels of digitization now. Yet, 84% of digital transformation projects fail at the adoption phase. It doesn’t need to be this way. The words “digital transformation” may have outlived their useful life and are now only contributing to the growing levels of confusion. Digitization strategies should first focus on engagement rather than transformation. When digital tools are designed (and tested) well, they’re engaging; people use them, and the gained efficiency is highly valuable and may even pay for the investment it took to build. However, the resulting data can produce compelling, actionable insights that can transform existing products and services into multiple new revenue streams.
