Most firms are aware of the buzz around digital transformation. However, it is frequently questioned what this term truly means and how small organisations should approach the change.
The growth of the internet and the expansion of digitalisation, not only as a technology, but also as a media format, have had deep and unanticipated repercussions on 21st-century living.
To remain relevant and competitive in current market, businesses of all sizes must embrace digital transformation. However, for a small business with a restricted budget, it may appear to be a daunting task.
Although, you certainly cannot overlook the advantages of implementing the correct innovations in your organisation. It will assist you in increasing efficiency, lowering costs, increasing productivity, improving customer experience, and, finally, increasing profits.
Let us get down to the nitty-gritty of what really is digital transformation.
The practice of employing digital technology to build new — or adapt current — business operations, culture, and customer experiences to satisfy changing business and market demands is known as digital transformation. Digital transformation is the redesigning of business in the digital age.
Digital transformation starts and ends with how you perceive and interact with clients. With digital technology on our side, we have the opportunity to rethink how we do business — how we connect our customers — as we move from print to spreadsheets to smart applications for business management.
There is no need for small enterprises who are just getting established to set up their business procedures and then transform them later. You can foresee the destiny of your business from the start. Starting a 21st-century firm on sticky notes and handwritten ledgers is simply not feasible. Digital thinking, planning, and building positions you to be agile, versatile, and ready to develop.
When it comes to marketing, the shift to digital has had far-reaching repercussions. Now, digital media qualities such as more accurate data, along with interactions, have provided entirely new set of marketing options.
It is a culture shift that necessitates firms constantly challenging the existing quo, experimenting frequently, and becoming comfortable with failure. This frequently entails abandoning long-standing business operations on which organisations were founded in favour of relatively fresh ones that are still being articulated.
Many businesses are taking a breather as they begin their digital transformation to assess whether they are doing the right things.
Digital transformation adds value to every customer interaction
Below is the digital funnel, a conventional notion used by marketers to lay out the activities prospective buyers take, pursuing a multi-stage journey that eventually culminates in committing to an actual purchase, is one of the first locations in which digital transformation effects marketing.
Prior to the emergence of digital technologies, the marketing funnel was simple and, in some respects, impenetrable.
The four stages are as follows:
Consumers initially become aware that you have a service or product that they may be shopping for during the awareness stage. This stage is curial to introduce your brand into the market.
They have become truly interested. This is where nurturing the lead comes into actions through various tactics like email newsletter follow up or social media messages.
When people begin to develop towards a conclusion in favour of a business as they believe they desire the service or product.
After buying a product, a consumer has turned into a customer.
In almost each state, a brand could only generate promotional materials and hope for the best in a pre-digital marketing era. An intervention was only conceivable if a knowledgeable seller was available to personally connect with a potential client.
Due to digital transformation, these processes now allow a business considerably more control over the process, providing marketers with two crucial new tools: multi-stage engagement and analytics.
It shows how, digital innovations have altered the way businesses approach customer experience. The evolution of social media has altered service in the same way that it has altered advertising, marketing, and even sales and customer service. Progressive businesses see social media as an opportunity to broaden their product offerings by meeting clients on their preferred platforms.
It is critical to link your digital transformation plan with your business goals by developing key performance indicators (KPIs) that represent your business objectives. You may then track the indicators that are important to you and fine-tune your plans to maximise ROI.
Does the sound of digital transformation tickle your business mega mind, but no idea where to start? Contact us to have a chat on what it means for your business and how it can grow while leveraging from new technologies.