WELCOME TO THE DIGITAL TRANSFORMATION

Thank you for joining us! 
Before start let’s take a look at what can you expect from this course:

Have you asked yourself:

  • How do I make my business more profitable, more recognizable and my product more attractive to my customers?
  • Am I satisfied with the performance of my business? How could I do much better?
  • How do I take full advantage of a new innovative approach to boost my current business or create new business opportunities and reach new markets?

This DIGITRANS course is about how to transform an existing business model by using the DIGITRANS method that we created for entrepreneurs and SME’s seeking to digitalize their business models.

Is this course for you?

If you are an entrepreneur or working in a small or medium sized company (SME) or even coming from a large enterprise, you should consider the digital technologies, agile business management concepts and new working styles that will help your business to

Make more money
Recruit the best people
Improve team productivity
Beat the competition
Keep partners and customers happy

What is a digital business model? How does it improve the business?

To define a digital business model we first need to understand what a business model is in general. To put it simple, a business model defines how a company or an organisation creates value for its customers, how it delivers and captures that value and finally, how it defends the value.

A digital business model is thus an approach a company takes in doing business in which the integration of digital technologies generates added value to the traditional business model. Digital technologies are thus the core of the product’s/service’s value proposition.

A period from a point when an organisation starts considering the technologies’ implementation until its full integration is called digital transformation.

If you already know something about digital transformation but are not exactly sure where to start and how to get involved, we are here to help. However, if this is something completely new to you, this course is a good place to start.

The story

Before we get into digital business model, how to develop and implement the right one, please see the following story:

Ben’s Treehouse is a small enterprise specialized in manufacturing of high quality wooden products.

Name: Ben’s Treehouse

What does Ben’s Treehouse do? Products made of wood such as furniture, toys and souvenirs.

How many people work for Ben’s Treehouse? 30+

Who are the company’s customers?

  • People who like quality products made of wood.
  • They prefer handmade eco-friendly products and use them to enhance their living environment. The majority of their customers prefer functional products with the touch of a traditional design.
  • Their customer’s age vary from 18 to 65.

How does Ben’s Treehouse reach its customers?

  • Via its own web site, social media channels, fairs and through an online media such as local and national portals. It also supports various local charities.  

Where are they today?

  • Ben’s Treehouse is a recognized manufacturer of quality wooden products. Most of their customers are in the region and only a small portion of their production reaches the foreign global market.

Where do they want to be?

  • They want to expand their business and make products for the most demanding customers. This includes customer’s engagement in the design and manufacturing process, recognition of the best product in particular field (toys, furniture, souvenirs) and expansion of their production line to more locations.

Solution

Ben’s Treehouse decided to build web and mobile app that will allow customers to create their customized products and order them online. Customers will be able to use predefined parts of the product and design custom solution. All custom made products will be available for online purchase.

With the help of digital technology, Ben’s Treehouse will have a chance to ask their customers what they want without directly asking the question, but to open up the chance to get them involved into design of the products.

The most engaged customers will receive a reward from the company in form of public recognition as the ambassadors of the company and further discounts of all products.

This approach will positively impact the company’s brand, help the company to anticipate trends and needs on the market, keep them ahead of their competition and provide a completely new experience as a benefit for their customers.

Did you get an idea?

In this example, the company embraces only one element of digital transformation by introducing an online tool for customers that enables them to create custom products.
That way the company can attract more customers by providing an extra value, boosting the communication and creating more engagement with its customers.
What would you want to change and how could your organization benefit from digital transformation?

Let’s find out in Preparation.