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How to approach digital transformation in a comprehensive manner

Seventy percent of healthcare and life sciences companies are looking to digitize their operations to facilitate growth, but only 2% have completed a digital transformation.

To remain compliant and improve engagement—there is a need to develop a core infrastructure that’s more effective and efficient and incorporate modern technologies to do so.

Businesses in highly regulated industries are facing the same need to embrace digital transformation as other companies but are frequently forced to take a conservative approach to innovation because they can’t risk any sort of disruption.

At Digital 360 (www.digital-360.co), we spend a lot of time thinking about the effect that digital transformation will have on our clients.

One of the main reasons we think about digital transformation, is our own journey as an organization.

In the last 5 years, we have transformed ourselves from a traditional marketing agency, to a continually evolving organization with new services and solutions the help our clients embrace digital.

In our discussions with Life Sciences companies and the professional service firms that service regulated industries, our team has been struck by how many of them are highly efficient, highly profitable organizations with a deep understanding of how to discover, develop, manufacture, distribute and commercialize products.

Fortunately, most life sciences companies recognize that change is necessary, and it needs to happen now. But while there is increasingly general agreement in the life sciences industry that digital transformation is essential, most of the customers we are talking to give us some pretty direct feedback – they understand the “why” of digital transformation, but they are stuck on the “how”.

In short, they don’t know how to get there from here.  Executing true digital transformation (as opposed to opportunistically adopting new technologies) can be hard for any type of organization, but it is particularly challenging for life sciences companies, mainly due to the starting point in the journey.

The “average” life sciences company of today faces technical, regulatory, and cultural barriers that stand in the way of the transformation journey.

On the technical side, they have often adopted hundreds or even thousands of different systems, typically chosen as best of breed.

Multiple mergers and acquisitions have made the technology architecture even more complex, and many life sciences companies’ IT departments are devoting most of their time to maintaining complex integrations rather than actually adding business value to the company.

Add in the complexities of understanding and meeting the needs of the regulators and getting true value out of technology investments becomes hugely challenging.

One of the biggest elephants in the room is the cultural barriers to change. Those difficult to maintain technology architectures stem from a cultural need for everyone to have their own “perfect solution” that works locally, versus a good enough solution that works globally, and the natural human instinct to favor the familiar over the new.

These are difficult challenges, but our own digital transformation as an organization has convinced us that they are not insurmountable.

We are partnering with companies across the life science industries to use new technologies such as cloud based artificial intelligence as the basis for business growth.

And we are bringing our own experience of navigating the change to help our customers understand how to approach digital transformation in a comprehensive manner, from empowering employees and engaging customers, to optimizing operations and transforming products.

During the next year, Digital 360 will present some of the key considerations for successful digital transformation in the life sciences industry and the companies that provide solutions to this industry.  We’ll provide case studies, and examples of where it is proving effective.

We’ll present the skills step-by-step in a live lunch and learn environment, webinars and seminars.  At the same time, we will work on real-world projects.  As a result, you can put what you learn into immediate practice. There’s no gap between understanding and doing.

 

Virtually anyone involved with selling or marketing their company’s products or services is dealing with marketing technology, since marketing by its very nature has become technologically-based.

Every piece of technology you use to reach a potential customer is marketing technology. Think about it, everything from your mobile phone that you use to access your text messages, email and social media, to your website, an email marketing system like Constant Contact to social media marketing platforms like HootSuite uses marketing technology.

Finding it difficult to implement, integrate and manage these solutions and make sense of all their data coming from your use of technology can be intimidating. At Digital 360 we use an array of technology from Asana to manage projects to Slack to communicate.

The intimidation factor makes sense, it’s not the use of the marketing technology – after all, social media is simple – post, click, like. Most people and companies end up struggling with the process of sharing resources to increase leads, enhance their brand to influence their target market.

Unfortunately, this means you could be missing out on generating new business or retaining your existing customers.

Staying on top of business and technology trends has become increasingly expensive. However, other competitors in your space will be investing in marketing technology solutions even if you don’t—and that’s something that’s entirely out of your hands.

With our deep understanding of small to medium size businesses that want to reach new customers, our expertise in engaging buyers online can guide you in designing a process that increases buyer engagement and moves a prospect to a customer.

Consider this: What if you created your own Prospect to Customer starter kit with several key processes and marketing technology solutions that you could use to optimize buyer engagement that created qualified leads and actually lead to new business? You could grow revenue, give your employees a break, and optimize your time, money, and efforts.

You know you’re good at what you do, but it is challenging to be heard or found or stand out in this competitive marketplace.

You know you need a new or updated website but fail to find the proper messaging, positioning, content, strategy or time to get this accomplished.

Our “Prospect to Customer” program will help you to articulate your brand and offering in a way that compels your audience to engage with you and lead you to more prospect interactions and more clients.

We go through a process called the Customer Engagement Maturity Model that can be utilized throughout your sales and marketing efforts and will filter across your entire company.

We will:

  • Identify your buying client
  • Understand what they need
  • Articulate your brand and offerings with clarity
  • Ensure that your solutions fit the needs of the buyer
  • Create specific calls to actions that tell the prospects what to do to buy now

As you redefine your marketing spend across technologies and human capital, you’ll find that perhaps fewer people are needed but those in control of these powerful martech tools will be uber-specialists across disciplines.

Customer engagement is an ongoing evolution that requires a changing array of knowledge, experience, and expertise. Be careful not to place too much emphasis on inputs. Prioritize outputs — your revenue, your customer value — but more importantly, the performance imperative should be your top priority as you’re planning for the year ahead.

The buyer journey is not always linear – while some people actually come in through top-of-funnel content, others stumble upon a middle or bottom-of-funnel piece that catches their attention.

Click here to get the steps for creating content that can convert prospects to customers.

Content is a proven part of the buyer journey, and it’s necessary to create assets for all stages. But for a lot of companies, there’s a lot of content to create and that’s a challenging because most content marketing teams are very lean.

No two customers are the same. Even the same customer goes through multiple changes during their relationship with your brand or business.

Smart companies recognize this and tailor their marketing to speak not just to the customer, but to the lifecycle stage they’re in.

Lifecycle Marketing is not new but is a top-of-mind challenge for today’s small to mid-size businesses because of the ‘always on’ digital nomadic customer. Customer lifecycle marketing helps to attract customers, grow sales and deliver great experiences.

Activating Lifecycle Marketing campaigns to an existing and continually growing customer and prospect base significantly increases your chances for generating more revenues, over time.

Virtually anyone involved with selling or marketing their company’s products or services is dealing with marketing technology, since marketing by its very nature has become technologically-based.

Every piece of technology you use to reach a potential customer is marketing technology. Think about it, everything from your mobile phone that you use to access your text messages, email and social media, to your website, an email marketing system like Constant Contact to social media marketing platforms like HootSuite uses marketing technology.

Consider this: What if you created your own Prospect to Customer starter kit with several key processes and marketing technology solutions that you could use to optimize buyer engagement that created qualified leads and actually lead to new business? You could grow revenue, give your employees a break, and optimize your time, money, and efforts.