DIGITAL TRANSFORMATIONS

Guiding & Coaching organizations through the Digital Business Transformation process

There are 3 main parts of the 'Digital Business Transformation' definition. These are:

  • Digital Business Transformation refers to the changes associated with the application of digital technology in all aspects of human society.
  • Digital Business Transformation applies to both individual businesses (B2B, B2C and B2B2C) and whole industry segments as they way customers interact with them.
  • Digital Business Transformation is using technology to radically improve performance and/or reach of enterprises globally.

Why would your organization need to have to change? There is a simple rationale for it. Many companies face common pressures from customers, employees and competitors to begin or speed up their Digital Business Transformation. It is the new ‘normal’, customers want to be in charge and served on their time, via their preferred channel at their pace, but always with an exceptional personal customer experience.

 

Importance and Benefits of Digital Transformation

According to a recent study conducted by a specialist research company called Altimeter group, 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. This report points out to the top 5 performance orientated business benefits or points of importance of Digital Business Transformation.

75% Lift in customer engagement – One of the first and most important benefits of Digital Business Transformation is that it leads to a great lift in customer engagement and experience. Through online channels and communication with customers, any business can get closer to what the customers think, want and how their decisions are influenced.

63% Improved customer satisfaction – With the world getting more and more inclined towards using technology, not just for searching and educating themselves but also comparing products and services, it is only natural that a business that is more digitally inclined will be better appreciated. By transforming business activities through digital channels, a business can attain what most are always in the pursuit of customer satisfaction.

53% Higher digital traffic – As you move your business and its activities to digital channels, you will observe that a lot of your clients and customers too would start responding to you on these channels. For example, if you run a website for your business, showcasing its products and services, you will observe a higher digital traffic and response rate.

49% Increased Lead Generation – Another very significant benefit of Digital Business Transformation is an increase in Lead Generation. As you introduce yourself to digital mediums, number of people and a larger percentage of the target audience would be able to reach you, and a greater degree of interest would be generated. It is a fact that lead generation is an important aspect for all businesses and can lead eventually to greater profits.

46% Greater conversions – Have you ever noticed that a lot of customers may approach you, and only a small percentage of them may purchase your services or products? This simply means that the conversion rate of your consumers is low. But by adopting Digital Business Transformation, this rate can go up, thereby leading to more sales and hence more profit.

 

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