Digital transformation is essential for your business to remain competitive. Today’s customers expect relevant content in the format and device of their choosing. It’s imperative to rethink old operating models and become more agile in your ability to respond to customers. What is digital transformation? It can be generally defined as the integration of digital technology into all areas of a business. This fundamentally changes how businesses operate and how value is delivered to the customers. It also requires a certain extent of experimentation away from long-standing business processes. The benefits of digital transformation Digital transformation is needed for your business to survive and thrive. There are several benefits. Let us explore some of them. 1. Better customer experience Going digital will enhance the customer experience. Customer experience is the key driver for business growth. According to reports, even a one-percentage-point improvement in customer experience can result in millions of dollars in revenue. 2. Data collection With digital transformation, you can create a system for gathering the right data and optimize it for analysis that can take your business forward. It can help translate raw data into insights that can create business opportunities paving ways to a higher ROI. 3. Better resource management You can consolidate information and resources all into one place. Integrating applications and software can lead to processing innovation across units and better management of resources. 4. More data-based insights You need quality data to understand your customer. Structured data and other metrics like social media can help drive business growth. Data will help you arrive at strategies to provide relevant and personalized content to your customers. 5. Helps create a workplace culture Digital transformation will help you create a digital culture in your workplace. With the right digital tools tailored to their environment, team members can easily collaborate and help move the entire business ahead digitally. It forces digital learning of team members which will prove to be very beneficial for the future of your business. 6. Increased profits Several reports have shown that organizations that have undergone digital transformation have increased their profits considerably. In fact, 80% of them have reported increased profits and a larger market share. They also expect more revenue growth in the years to come. How to transform your business digitally Now that we have seen the benefits let’s run through some of the ways you can lead business transformation successfully. 1. Foster a digital mindset A change in your organizational culture is necessary. A digital mindset should be fostered in every employee regardless of the department. The digital way of working should be actively promoted. Fostering a digital culture goes a long way in successfully transforming your business digitally. 2. Make your business data-driven Qualitative customer data is required for a successful business transformation. Customers require individualized experiences and for this, you need to collect, store and analyze customer data. Customer data will enable your business to rethink many of its old processes and also ways to enhance customer experience. 3. Automating your organization Once the data has been collected and analyzed and steps taken to foster a digital culture, the next step is to automate your processes. You can augment all your customer touchpoints with smart technologies including AI. Constant innovation is necessary to consistently meet customer expectations. Skyler As an example of innovation and digital transformation, we can take the case of Skyler, an online retail business devoted to mattresses. It was launched by two friends in 2017 in Hong kong. As several reports have mentioned, the company is more like a tech startup. The duo Alex Ma and Jason Da Rosa found mattresses very expensive when they wanted to buy them. After researching they found that the reason was due to the high rents in Hong Kong and also the difficulty in transporting them since most people in Hong Kong live in apartments with small lifts. They sensed a business opportunity and decided to start an online business selling mattresses at competitive prices with fast and free delivery. For a place like Hong Kong, this matters a lot. Skyler started making profits in the very first month itself and has doubled its revenue. Besides startups, several top brands including Porsche have successfully digitally transformed their business to offer a better customer experience. If you are planning to start your digital transformation journey contact us. With decades of experience developing killer apps and websites, we are second to none in creating amazing digital products. Our team can help your business successfully navigate digital transformation challenges and help you craft meaningful customer experiences. Let’s get started. Call us at 408.621.8481 or email us at team@sdi.la.