How Digital Transformation Can Benefit Your Business
Estimated Reading Time: 6-8 minutes
Regardless of sector or industry, embracing emerging technologies, trends, and cultural shifts is critical to thriving on today’s commercial battlefield.
We now know that mobile is the way of the future. Our lives and habits have clearly changed as a result of the rise of the Internet of Things and mobile devices. Everything is now linked, and if it isn’t, it soon will be.
If your company wants to ensure a long-term commercial future, investing time, money, and energy into your digital transformation strategy is a wise move.
In this article, we'll look at how digital transformation is changing the world and how it can also benefit your business whether it is a small or large business.
According to experts, Digital transformation strategies are expected to be worth more than $2.8 trillion by 2025.
- More than 70% of today’s video consumption is video-based and it is set to increase still further. Print media, while still influential, is a weaker force than it once was.
- With today’s appetite for visual content being inherently digital, it is important that your marketing materials include engaging video content.
- A typical teenager today has never used a postage stamp. In today’s world, using traditional tactics for internal and promotional communication is almost obsolete in the age of the digital world.
- According to research, 61% of smartphone users sleep with their phone next to their pillow or under their pillow on a regular basis.
- A mind-blowing insight that exemplifies today’s mobile-centric mindset. Investing in your mobile offerings, from apps to mobile-optimized landing pages and social media content, has the potential to accelerate your company’s success in an increasingly digital age.
Let us look at the current professional climate and, as a result, the need for digital transformation.
1. 55% of startups have already implemented a digital transformation strategy.
2. Established organizations, with 89% of companies already adopting a digital-first business strategy, with Services, Financial Services and Healthcare leading the way.
3. 76% of businesses believe their relationship with technology and digital transformation is average or above average.
4. The vast majority of businesses across all industries are undergoing digital transformation.
5. If you do not embrace the digital age and all that it has to offer, you risk falling behind the competition and becoming obsolete in the long run.
6. Around 70% of companies believe their CEOs have a solid or above-average practical understanding of emerging digital technologies.
7. If you believe your understanding of digital methodologies and technologies is lacking in the digital age, now is the time to improve.
An integral part of digital transformation is integrating digital technologies into all business functions in order to improve client service and build more sustainable partnerships.
Some Insights into The Undeniable Power of Digital Transformation in Today's World:
- 66% of CEOs believe that digital developments have already resulted in increased revenue.
- With this as the primary goal of corporate growth and acceleration, there is a strong case to be made for investing in digital transformation.
- By 2022, digital will have influenced 47% of total revenue. Without a question, digital technology will continue to advance in the not-too-distant future.
- Embracing the potential of digital is now a requirement rather than a distant luxury in order to remain relevant and drive growth.
- 39% of today’s marketers intend to increase their digital budgets without boosting overall marketing spend, effectively reallocating their existing spending towards digital platforms.
- As there are an increasing number of channels, platforms, and touch points available to businesses today, it will be possible for you to experience a level of ongoing commercial success as a result of investing in such outlets.
- With more than half of the population under the age of 30, there are more digital natives than ever before.
- To continue appealing to this new generation of digitally savvy consumers, ongoing investment in digital transformation is critical.
It is obvious that digital transformation is the most sustainable way of commercial success today, tomorrow, and for the foreseeable future.
If you haven’t already, you must embrace digital transformation’s unequalled power and promise immediately, before it’s too late.