Digital Transformation in the age of COVID-19
Since the start of the COVID crisis, we’ve seen it dramatically change the world as we had known it. Overnight, we were plunged into a digital world, unable to physically interact with our colleagues, customers or loved ones. Business structures that had once seemed entrenched, were forced to either adapt or struggle amidst the changes.
But what’s really changed? How did we adapt? And is it safe to return back to ‘normal’ now?
The Zoom Boom:
Apps like Zoom, Microsoft Teams, and Google Meet have become engrained in our daily lives, to the point, it’s difficult to imagine life without them. Whether it was for working, socialising, studying or attending events, apps like these truly helped bridge the gap between isolation and adaptation. Businesses were forced to become familiar with embracing new technologies by adopting virtual meetings, conferences and webinars as part of their working models. This, not only helped improve their confidence in the face of digital transformation but also enabled them to witness the fruits of boosted productivity.
With the world gradually returning to a sense of pre-pandemic normality, we’ve seen these apps continue to be a staple part of many businesses operations. The idea of travelling hours to attend meetings with clients can be considered unthinkable in today's world. In fact, geographical expansion has never been easier!
Hybrid or remote?
With the Omicron variant settling, we’ve seen some companies gradually returning back to the office, whilst others continue to hail the flexibilities brought by hybrid or remote working. This new style of working has offered a variety of benefits to employees and employers alike! From reduced office costs to higher morale brought through employees saving both time and money, it has increased productivity for many organisations. It’s opened the eyes of many business owners to embrace the benefits of change, widen their talent pool and hire the best quality employees without any geographical barriers.
Moreover, the focus on performance over work time and location has shifted strategies on management and leadership, with many transitioning to a style centred around autonomy, self-responsibility for employees and a greater emphasis on trust-based relations. This highlights the key that internal structures play when truly digitalising a business, and is often one of the biggest barriers to successful digital transformation projects!
We’ve also seen a dramatic shift from a customer perspective too. Customers were forced into accepting digital shifts, from communicating via calls, online chats and apps. Businesses able to execute the transformation effectively were able to maintain their personalised customer experience, whilst encouraging their users to shift to digital.
Taking a closer look at the credit union sector, which distinguish itself by delivering personalised services - pre-pandemic, they were heavily reliant on in-branch member interactions. The results of the pandemic triggered an overwhelming increase in member demand for a fully digitalized banking experience. This not only accelerated the transformation of their services into overdrive but also ensured the swift adaptation of other aspects, such as their online presence, marketing and communications - all whilst maintaining a personalised customer experience. And this demand is set to stay with over 50% of members saying they’ll visit branches less often, encouraging the sector to further accelerate their adaptations in the post-pandemic era.
Overall, the key learnings are that despite the return of a new normal, digital transformation coupled with changes to internal businesses structures, are essential for survival in the post-pandemic era. Irrespective of your size, putting users, customers and employees, at the heart of these changes will ensure that they are given an array of options to choose from when interacting with your business, in a way that is optimal for them, and in turn, for you.
Interested in getting some help with your digital transformation journey?
Find out more about Constituent, and how we can help!