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SME Digitalisation – Game Changer or just FOMO-ing?

Decision-makers in SMEs base their desire to adopt the newest and latest technologies on their view of its usefulness and ease of use in an effort to compete with industry giants for survival.

The fear of missing out (FOMO), which makes decision-makers fear losing their relatedness to fellow managers and causes them to make judgments based on irrational considerations, may, however, have an impact on the establishment of this desire.

Over 70% of digital technology and transformation projects fall short of their projected business outcomes, and this has established a clear trend. Managers are acting out of FOMO due to the advantages that digital technologies have given to their rivals during this moment of fast transition, to which many SMEs are latecomers.


As more people attempt to ram a bevy of shiny new technologies while portraying these initiatives as IT projects rather than Business Development projects, the FOMO rush to play catch-up is causing a rise in the number of projects that fail to have the desired effects.

When final products are given to stakeholders and business customers, it frequently happens that expectations weren't met, adoption fails, and the project, which began with high hopes and goals, ends with a white elephant lacking in zeal and utility. This costly error affects many SMEs.

Since SME are currently playing a constant game of digital catch-up with their more technologically advanced competitors, they are more likely to omit essential project-related steps.


Let's look at some areas that SMEs can take into account before starting such ventures.

  1. To lessen the risk of poor results for individuals involved in the tests, create an environment that is tolerant of quick failures. Aim to keep project leaders from being held to the same key performance indicators (KPIs) as established lines of business.

  2. Validate your hypothesis through thorough market research (i.e., an MVP) and don't become discouraged if your target audience (i.e., the sales team) isn't interested.

  3. Become acquainted with the technology and its likely impact on their business. This include investigation, authority consultation, and a technological assessment in light of business needs.

  4. Ask yourself and your intended audience "Why?" regarding their initial motivations for seeking out a data-driven solution. What is the task or the problem that needs to be solved? Are your users prepared to put your solution into use?

  5. Continue to challenge your presumptions. Your project teams should ideally be cross-functionally aligned and use agile procedures with customer input as a fundamental tenant. These processes should cover marketing, sales, development, legal, operations, quality, and support.

  6. Be brutally honest and assess your company's operational flexibility to meet the demands of any new digital introductions.

  7. Prioritize your technology investments and always take the time to fully comprehend the technology and its possible influence on your organization. Companies can fulfil their business objectives, stay current on the newest trends and advancements, and make educated judgments on technology adoption by doing these things.


Transformation is highly challenging to manage, and anything you implement will eventually act as the foundation for your company's operations over the coming years.

This is where 8c8 Cloud can cover these blind spots for your team as we strive to create, scrutinize and conceptualize Business Value First strategies to evaluate if digitalization is needed or a tweak to your current process is all it takes to achieve your desired business goals.

If you would like to know more – hit us up for a quick chat here or email us at today!

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