Digital technology has changed our way of living, most especially on the way that we shop. It has dramatically transformed the operating environment of businesses, as well as consumers, in almost all industries. This transformation does not only affect company products and services but complete business ecosystems in all aspects, from customer interfaces to business models.
Whether we’re ready or not, this so called digital transformation is reinventing businesses and consumers. Brand loyalty isn’t what it used to be anymore. A research shows that 89% of people actually believe that any other brands are just as good as the brand they’re using.
Traditional companies are now to decide between innovation or extinction. A very good example of companies that succeeded in adapting the digital transformation are Apple and Google. Apple used to be only a computer company, selling computers that are meant compete with the IBM computers. It is now called Apple Inc. and they are not just a computer company anymore, because they’ve realized that it wasn’t really their computers but it’s their operating system that gave them the edge. Google started to be a search engine tool, a boring search tool to be exact. Now they’re creating Android phones and provide several products and services to its customers.
Kodak and Blackberry are example of companies that were forced to face extinction for not adapting the digital transformation. Kodak used to be an iconic brand for so many decades but has already disappeared because they didn’t adapt with technology and time. Blackberry used to be the king of smartphones but is now gone since it did not adapt to technology.
The problem with most companies with digital transformation is the lack of coherent and comprehensive approach. Companies often invest in digital and information technology capabilities but have failed to see beyond the technology itself, resulting in incremental development instead of a fundamental transformation. In addition, while these companies struggle with their digital transformation, new companies are now showing up as their new competitors that does not follow the existing value chains.
These new companies are usually built entirely on a backbone of digital technology. The best well-known examples are Uber, Airbnb, and Netflix. Uber implemented a completely new business model in personal transportation industry while Airbnb is changing the new rules of the hotel and accommodation industry. And Netflix, who started as a DVD-Rent by Mail company has completely changed the way millions of people globally spend their free time by shifting to a subscription type of streaming service.
Digital Transformation or Digital Business Strategy for new businesses is a concept introduced in 2000 by Patel and McCarthy that focuses on e-commerce, digital marketing, and digital literacy. Recent authors may have different definition of the term but is completely understandable since digital technology is fast changing and applications in different industries may vary.
Solar Hub PH is one of the leading and trusted providers of solar solutions nationwide that is adapting digital business strategy. It is bringing solar energy at the doorstep of every Filipino by providing an array of innovative products that are suitable for residential and commercial use. The business was created entirely under the backbone of digital technology. It uses digital technology not just as a function but as a strategic competency.
Solar Hub PH believes that solar energy should be easily accessible to everyone. This can be achieved by using several digital platforms to engage to its customers
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