Reshape your business with Digital Transformation
Today with latest sophisticated digital technologies the people have turned the traditional way of communicating, collaborating and doing business on its head. Businesses can use Digital Transformation to create competitive advantage, enter new market segments and deliver new value to their clients, customers and end-users through an excellent customer experience.
Digital Transformation: The definition
Digital Transformation is a term that is used to refer to those changes that are linked to the application and use of digital technology in every aspect of human society and living. Digital Transformation (DT or DX) is the use of new, fast and frequently changing digital technology to solve problems. Digital Transformation is considered as a 3rd step in the process of a going digital, first being digital know-how and second being digital competence.
It is the journey from where a company is, to where it aspires to be digitally. A digital organisation is generally considered to be one that focuses on customer experience irrespective of channel, and has a digital culture. During the digital transformation process, the four areas typically focused on are strategy, technology, people and process.
The Core Elements of Digital Strategy
- The Leadership and Vision
Digital transformation is still not being identified as a major effort by many businesses & therefore these businesses need to have a proper leadership and vision to get the process effectively implemented. - Digital Consumer Experience
In todays world the Data is key which will eventually drive consumers by researching consumer behavior, personality and expectations. - The Digital People
Companies need to prioritize and create special teams to start the culture of digital transformation into motion. These teams are highly skilled and concentrate on rapid innovations within the organization.
Digital Transformation can reshape every aspect of the modern enterprise
Why Digital Transformation is important?
According to a study conducted by a specialist research company, the companies and businesses which invested in new people, processes and technologies to compete in the digital markets saw much greater profits and market share.
It points out to the top 5 benefits of Digital Transformation.
- Improvement in consumer engagement (74%) – Firstly, the vast improvement in consumer engagement and experience is a direct result of Digital Transformation. With online channels and direct communication with consumers, businesses get closer to their consumer’s thinking, needs and most importantly how their decisions can be influenced. With Online Marketing activities companies take a web-based approach for increasing sales and hence get in direct contact with their consumers.
- Improved customer satisfaction (63%) – As the world is adopting and more than ever inclined to use technology, a business with digital centric approach will surely be more appreciated and respected. With ever increasing competition among brands the real profitability can be only achieved by customer satisfaction and thus customer retention.
- Increase in web traffic (52%) – A digital savvy consumer is always appreciative and more responsive of the brands that make use of digital channels for any promotions, deals and communications.
- Enhanced Lead Generations (48%) – The another most important benefit of Digital Transformation is considerable improvement in Lead Generation. With larger digital presence by tapping in all digital avenues there is a larger scope for online consumers to reach and show interests in your products / services.
- Improved Conversions (45%) – With Digital Transformation businesses will be able to tap in a greater targeted audience and generate a lot of interest through digital mediums. Eventually it will surely be leading to greater conversions.
How to reshape your Digital Journey?
- Explore social media to get consumer insights about grievances, needs and satisfaction.
- Effective use of digital media for brand promotions.
- Generation of online communities for building up a brand loyalty.
- Putting in place technology driven sales communication channels.
- Personalized customer service with enhanced Consumer Relationship Management (CRM).
- Get your business mobile with Mobile applications.
- Digitize all your process within the organization.
- Make investments in Digital Technology and assets.
Are you ready for Digital excellence?
The main impeding challenge for any organization that undergoes digital transformation isn’t the financial part. If done right, the transition eventually reduces operational cost. By finding the right solutions and investing in the right changes, your company can strive for digital maturity and thrive for decades to come. Get in touch with us to learn how we can help.
