What Do Starbucks And Johnson & Johnson Have In Common?
Two distinct brands. Two different target markets. So, what exactly do Starbucks and Johnson & Johnson have in common? They’ve successfully evolved to embrace digital transformations.
This means they aren’t just throwing around this modern buzzword. Rather, each company has taken significant steps in shifting their business models to connect better with the digital world. Here are some things that both businesses are doing right.
Want to connect better with digital consumers? Follow the lead of companies like Starbucks and Johnson & Johnson.
They’re Embracing Digital Transformation
Starbucks and Johnson & Johnson are two mega brands that have undergone digital transformations. In essence, this means that they’ve realigned their technologies and business models to effectively engage with their customers in a digital realm.
These companies have also embraced the reality that a digital transformation isn’t just a one-off change. Rather, it’s an ongoing, ever-evolving process that must adjust as the digital world changes. At the heart of a successful digital transformation rests the ability for brands to adapt to changes in their environment. A real digital transformation isn’t just about investing in new technology. It’s about evolving business models to engage with consumers digitally.
They Research Their Markets
In considering the payoff of digital transformation, both Starbucks and Johnson & Johnson made the smart move to research their markets. Truth be told, not all companies serve industries that require digital transformations.
According to Digital Transformations Across Cultures, after researching their markets and determining that digital transformations would pay off, both brands then began learning more about the technologies being used by their target markets. By first understanding more about the preferred technologies of your consumers, you can then adapt your business model in the best manner.
They are Tracking Results
Digital transformations don’t stop after new technologies are implemented. Rather, to understand the payoff of their business model changes, Starbucks and Johnson & Johnson began tracking the numbers behind their digital transformations.
The analytics and data you start monitoring will depend on your industry, the technologies you’ve implemented and more. For example, numbers that may be worth tracking after a coffeehouse’s digital transformation are increases (or decreases) in gratuity after implementing a digital payment and tipping platform.
They’re Connecting with Customers
Of course, the core reason for brands like Starbucks and Johnson & Johnson to complete digital transformations is a desire to effectively connect with consumers. New technologies are drastically changing many industries at a breakneck pace.
Brands that understand how these technological changes influence their business and that evolve to embrace those changes are the ones most likely to survive and excel. Digital natives are the country’s up and coming consumers, and they will have certain expectations for how they prefer to interact and do business with their favorite brands.
Rarely do both Starbucks and Johnson & Johnson appear in the same sentence. But both companies deserve major props for their digital transformations. Follow their lead by embracing new technologies, by connecting with your customers in new ways and more.