Let money-burning digital technology help you make money: 17Life founder Li Yiteng teaches you the next step in digital transformation
[
](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg6DnErrPaVVzaRFnK43Xb3oq-Rf8SIJF6UknE2J-bJy72qtOPAbOP7r0s-vs6UKk KHi1qgD6f5-LzxZWrpwNgetdeYnp4kjwhyphenhyphenADyPtX3IS5asqFFlF7R4NtrJ1h-mKOI2Uxsy8a2FHR8DxiLHYe6cQXBSUnmK1SYYjukXhUUyiePo0PlCTDFw0 uGD3tPy/s1792/DALL%C2%B7E%202024-08-02%2014.59.12%20-%20A%20modern%20office%20setting%20with%20an%20artistic%20and%20creative%20v ibe,%20featuring%20an%20Asian%20man%20and%20woman%20working%20together%20on%20a%20digital%20transformation%20project.%20The.webp)
Today at noon, I am very happy to have the opportunity to participate in the live broadcast event organized by the Dream Weaver Club under “[World Magazine] (https://www.cw.com.tw)” and listen to the guest webmaster Li Yiteng share the specific methods of digital transformation. This live broadcast event is very valuable. Let me briefly record the key points of the lecture.
Introduction to guest webmaster
Pioneer in digital transformation
Li Yiteng is a leader in the field of digital transformation in Taiwan. He is hailed by the media as the boss of “the most powerful digital transformation company”. He first studied hotel management. This opportunity also gave him a deep understanding and unique insights into the hotel and lodging and other service industries. In 2006, he founded Lunch King, pioneering food delivery services in Taiwan. In 2008, Lunch King changed its name to 17Life and gradually expanded its business scope. In 2018, he took over PayEasy and carried out bold reforms to transform it into a closed e-commerce platform. It has now become the largest corporate welfare network in Taiwan.
Important Milestones
- 2006: Founded Lunch King, opening a new chapter in Taiwan’s food delivery service.
- 2008: Lunch King changed its name to 17Life, and its business gradually expanded.
- 2018: Taken over and transformed PayEasy, successfully building it into the largest corporate welfare network in Taiwan.
Success Stories and Challenges of Digital Transformation
Ford’s Digital Challenge
At the beginning of the lecture, Li Yiteng first shared the case of Ford Motors. Faced with the challenge from Tesla, Ford decided to develop all software systems in-house. This decision was challenging, but also resulted in significant progress. Tesla’s success lies in the unity of its software system, while Ford needs to integrate software from 150 suppliers, including well-known companies such as Bosch and 3M. Ford finally decided to go all out and develop these systems on its own, which required not only a technological breakthrough, but also great determination and courage.
Key points of digital transformation in the retail industry
Core Values and Digital Development
Li Yiteng mentioned that it is not just the automobile or e-commerce industries that need [digital transformation] (https://www.sap.com/taiwan/insights/what-is-digital-transformation.html). When any company faces digital transformation, it must start from the core values of the enterprise. Li Yiteng emphasized that digital transformation should be carried out around the core values of the enterprise to ensure that every step can enhance the competitiveness of the enterprise.
Digitization of the “people and goods yard” architecture
To establish a digital architecture, Li Yiteng suggested that everyone should pay attention to the relationship between people, goods and places. The digitalization of the physical retail industry should emphasize how to improve the efficiency and effectiveness of these interactions, improve customer service experience through digital tools, and increase customer stickiness and loyalty.
Traffic and Conversion Rate
E-commerce companies need to pay attention to traffic introduction and conversion rate improvement at the same time. Simply putting products on the shelves will not bring success. Companies should think about how to attract traffic and increase conversion rates through high-quality products and services. This requires the comprehensive use of digital tools to improve customer service quality in order to increase customers’ desire to purchase.
Shin Kong Mitsukoshi’s digital transformation experience
Development of service-oriented App
Shin Kong Mitsukoshi improves customer service experience by developing service-oriented Apps. For example, the function of entering and exiting the parking lot without touch makes customers feel great convenience, as they no longer need to go to the counter to redeem parking points. This kind of service not only improves customer satisfaction, but also significantly improves operational efficiency.
The Importance of Data Integration
Shin Kong Mitsukoshi integrates parking, shopping and other data through data integration to achieve real-time data analysis and improve service quality. This also allows Shin Kong Mitsukoshi to understand customer needs and provide more personalized services.
Application of AI technology in the hotel industry
AI improves personalized services
Li Yiteng also mentioned the importance of AI in his lecture. AI technology will further enhance the service experience in the hotel industry. For example, the room environment is adjusted according to the customer’s health index, so that customers can feel the convenience and comfort brought by AI. This kind of personalized service not only improves customer satisfaction, but also increases customer return rates.
Digital Case of Jeju Island Hotel
Li Yiteng shared a digitalization case he saw in a hotel in Jeju Island. The hotel placed a QR code on the gym equipment to attract customers to download the app and provide personalized fitness advice. This approach not only improves the customer experience, but also increases opportunities for customers to interact with the hotel.
Challenges and Solutions of Industrial Digitalization
Balance between digitalization and high-end services
Digitalization does not mean cold service, but can enhance customer experience through digital tools. For example, using visual recognition technology, waiters can instantly identify customers and provide personalized services. In this way, digitization will not only not reduce service quality, but also improve the professionalism and affinity of customer service.
Switch from flow thinking to volume retention thinking
When all walks of life face digital transformation, they should also shift from focusing solely on traffic to focusing on customer retention. This means there needs to be more focus on customer service and experience to increase customer satisfaction and loyalty. For example, through data analysis, we can understand customer preferences and needs, provide personalized services, and increase customer return rates.
The importance of first-party data
First-party data is the foundation of enterprise digitalization. Li Yiteng emphasized that relying solely on third-party data is not enough. Companies need to establish their own data collection and analysis systems to better understand and serve customers. These data can be used not only to improve customer service, but also for market analysis and decision-making.
Challenges and Strategies in Transformation Practice
Selection and integration of digital tools
When selecting digital tools in various industries, they need to consider their applicability and integration. Li Yiteng suggested that we should not just pursue cheap packaged software, but should conduct customized development according to the specific needs of the enterprise. This can avoid later changes and upgrade costs and ensure that digital tools can truly work.
Set up a digitalization project team
Enterprises should set up a dedicated digital project team to be responsible for the selection, integration and operation of digital tools. This group should include technical experts, business experts and management representatives to ensure the smooth progress of the digitalization project.
Maintain digital dynamic balance
Digitalization is a continuous process, and companies need to constantly adjust according to changes in the market and technology. Li Yiteng suggested that enterprises should hold regular digital strategy meetings to evaluate the operation of digital tools and make adjustments and upgrades as needed.
Action lines for digital transformation
[
](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEil71XcUrspTb2lbKrK gvHL7r53iiDk-92g-E9aEPjSsnuBY-QpQF2WpV4TK5svPnzu5-RmPJy9kPQOMkWTq0_RYtNfKv2uUN4i6vzvy Zqe8D-Qp9Ad1DFyKD1ZCDJemjwhFW0u04VY1pFiM-uQieXpMI5-eg8dkXPdOjmpdXBs8aCW6lxhDkHAFtK4hw 5v/s3324/%E6%9D%8E%E6%98%93%E9%A8%B0%E8%AB%87%E6%95%B8%E4%BD%8D%E8%BD%89%E5%9E%8B.png)
After listening to Li Yiteng’s sharing of digital transformation experience, it is not difficult to understand: successful digitalization lies not only in the application of technology, but also in the in-depth understanding of core values and the careful design of the digital architecture. I believe that friends in the industry can learn from it and combine it with their own needs to open a new chapter in digital transformation. There have been relatively few lectures of this type in China in the past. If you are interested in related topics, I also recommend that you join the Dream Weaver Club under “[World Magazine] (https://www.cw.com.tw)”!
Further reading
- How to break the situation in e-commerce and retail: thinking and transformation in the AI era
- The secret to cultivating followers from a media perspective: Wang Yizhi, deputy chief writer of “World Magazine” talks about the management of online communities
