Businesses have a lot to keep up with and in the 21st century, digital transformation is important to keep competitive and relevant. If your company has not progressed into digital business transformation, it is high time that you consider the digital transformation.
With your competitors getting more done with digitalisation you must ensure that your workforce is skilled enough with the best practices of the digital age. Furthermore, instead of impending the digital transformation on your existing company structure, you should ensure that this transformation must be weaved into the fabric of the company for the maximum impact.
The problem that we face with most of our clients is that they think they have already fallen behind. You might also be under the impression that it’s too late to get started. However, remember that digital speed is five times faster than a traditional business which is why it is the pace that is necessary and not the starting point.
In this article, Contentsia explores the benefit of digital transformation for your business.
Improves Customer Experience
With the easy availability of the latest technology and obsession with social media apps, people have grown used to an easier life. Today, your customers want valuable solutions to their problems. But, more importantly, they want it really fast.
We do not have to tell you how important is customers’ experience for the success of your business. Which is why with the digital transformation you can use cutting-edge technology to improve customer experience.
Most of the business world is aware of this transformation which is why 92% of leaders are already developing mature digital transformation strategies focused around customer experience.
According to McKinsey, to successfully transform the customer experience any digital transformation process must include the following factors:
- Design and digitize customer journeys
- Increase speed and agility in insights
- Develop agility in delivering an excellent experience
- Ultimately achieve customer satisfaction with digital transformation
The brands and companies at the forefront of the digital revolution will naturally earn more authority, trust and satisfaction of their customers.
Drives data-based insights
If you focus on what is traditional transformation, you will understand it is the ability to track metrics and analyze the data. With true digital transformation, you have access to insights that allow you to optimise your business strategies and processes for the best results.
Every business is based on two factors-cost and revenue. Once you adopt data-based insights for your company, it suddenly becomes possible to make massive changes to both cost and revenue.
Data-driven insights not only help you to understand the intricacies of your business processes but they also help you to understand your customers. Furthermore, you can hyper-personalise your business strategy based on real-time feedback and agility. Digital transformation makes use of both structured (Personal customer information) and unstructured data (social media).
You should not underestimate the importance of data in decision-making. When you successfully integrate data-based insights into your business you are on the road to a higher ROI.
Encourages strong communication across departments
People fear change and the idea of the digital transformation of the entire organisation can be a daunting prospect not only for the leadership but also for the workforce. Digital business transformation requires all processes and strategies to be addressed at the core.
However, this transformation brings up an opportunity for unity throughout the workforce. As a successful transition requires strong communication, the engagement among the employees irrelevant of the age gaps and social divides improve. This is also the point when the digital intelligence of the workforce improves.
To be able to make smooth digital transformation it is important to align all departments for the cause and create a strong company culture form. As in the words of Jeff Bezos,
“In today’s era of volatility, there is no other way but to re-invent. The only sustainable advantage you can have over others is agility, that’s it. Because nothing else is sustainable, everything else you create, somebody else will replicate.”
Increases agility & innovation
Agility for businesses means the ability to continuously improve and develop quickly. For digital transformation, it refers to the rapid evolution of digital processes.
This quality is held in high regard across industries when it comes to digital transformation. Almost 68% of companies rank agility as the top consideration for digital business transformation.
In the digital arena, there is no time for brands and companies to rest as the digital transformation requires rapid development in a perpetually changing landscape.
Even those who are at the top are always ready to adapt and innovate. You have to realise that there will always be new competition and the new trends to keep up with. This is why digital transformation is important as it makes faster and better adaptation possible.
A digital transformation is no longer an option but the pressing need of the movement for your business. You cannot ignore it any longer if you want to make use of the latest technologies to improve not only your customer experience but also make drastic changes to the cost and revenue.
Today’s digital age is not new but it is different. In the past decades, it was the choice of the businesses to remain outside of the digital realm but that decade has passed. Today we are in the middle of a digital Darwinism and it’s time to fully embrace and invest in digital business transformation to thrive.