Digital Darwinism is about consumer behaviour evolving when society and technology evolve more rapidly than the ability of the business to adapt. It is an ongoing challenge that can be seen by considering some products and business models that have become extinct because companies did not, or could not, adapt to the pace of disruptive innovation.
Digital Darwinism reflects the notion that the businesses that can adapt to technological changes are those that will survive. It is a phenomenon where society and technology appear to advance faster than the organisation’s ability to adapt, making it difficult for them to survive in the competitive business environment.
New technologies are disrupting markets all the time, changing how people communicate, relate, and work. New technologies are changing how customers (private and business) and communications service providers interact, and they are driving a new demand in the way communications services are delivered. Technology is constantly evolving and changing how we interact, consume information, and conduct our business.
Improving the customer experience and effectively responding to the change is one of the key ways to survive and thrive in this modern, digital era. Becoming more customer-centric is a cultural as well as digital transformation – and both are critical.
Digital transformation is also about making efforts to bring about new models of doing business, as well as creating ways to remain in business when customers are becoming more and more digital. A comprehensive digital transformation involves giving employees the power to be agile and developing leaders who are knowledgeable about digital practices and are open to innovation. Digital transformation represents a future for businesses by aligning or making a new investment in technologies and business models in order to better connect with digital consumers at each point in the customer experience lifecycle. If your business is small, it might seem harder to find the right solution that works best for you, but don’t stress. There are IT managed services companies that can help you with the process. You can also take expert advice from a network consultant to make the right decision and plan out your next step.
Simply put, digital transformation is an intentional effort to adjust to this onslaught of disruptive technologies and how they impact customer and employee behaviours. Read on to learn more about the ways that companies are undertaking digital transformations to understand how disruptive technologies are impacting customer experiences. Moreover, we would also focus on how companies who quickly adapt to disruptive innovations and evolving technologies are able to survive the competitive digital economy through digital transformation.
As technologies develop at a blistering pace and destructive innovations increase exponentially, understanding digital Darwinism is essential to surviving as a company. Digital Darwinism is the survival of the fittest in a digital economy: Adapt to disruptive innovations, adopt evolving technologies, or be left behind. In an unstable society, with a constantly changing digital revolution affecting the way people consume, communicate, and access information, companies need to adapt in order to survive.
Surviving the new landscape necessarily means transforming a business digitally, in other words, embracing technologies needed to deal with changing customer behaviour. In other words, the digital transformation of companies is about rethinking needs and using the new technologies to find better solutions. Always keep in mind that the latest technologies can form the basis for great changes affecting manufacturing models, human resources, relationships with consumers, and more.
One can argue that the strategy remains the same, with tactics being the only things changing, but along with new platforms and consumer behaviour comes a need for change and adaptation. The digital revolutions have resulted in new business models, new payment methods, and new ways of shopping, finding information and connecting – where the Shakespearean dilemma of being-or-not-being–on the digital level–is no longer applicable if we want to remain competitive.
As new technologies creep into daily lives and workflows, devices, applications, and networks, they are upending the norms and beginning to influence behaviour. It is that disruptive technology that, over time, affects how people work, communicate, share, and decide. The disruption is not just facing each and every company, but the effects are already spreading across the markets of customers, as well as the channels influencing decisions and behaviours.
As we have seen, corporate disruption has taken on an entirely new meaning over the last year; it comes about when cultures and technologies are evolving more rapidly than businesses can adjust — also taking into account outside factors such as the global pandemic). This challenges the natural business pace to adapt and ones who can not go extinct. To adapt, organisations must study the effects of technologies on consumer behaviour, as well as understand their effects on consumers’ decision-making processes and peer influences.
The roles and objectives of daily marketing, social media, web, mobile, and customer service and loyalty may evolve to meet the needs and expectations of the increasingly connected, digitally-discerning customer. First, we are seeing the digital transformation process underway, an umbrella term referring to an accelerated transformation of business activities, processes, competencies and models in order to take full advantage of digital technology changes and opportunities, as well as the effects they have on society.
In a nutshell, it is important to realise that digital transformation–the answer to digital Darwinism–cannot come about by simply adopting new technologies but rather by transforming one’s organisation in order to capitalise on the new opportunities provided by the latest technologies.