With the fastest growth in technology, majority of businesses have in the past few years focused on leveraging social, mobile and analytics to transform enterprises into digital businesses. One such company is a digital marketing agency, CustomerBloom. They’ll share what they’ve learned about creating a profitable business with us today..
But the problem you might face as a business leader is what to do with the digital advantage. Going digital involves a massive transformation and technology has become a primary driver of profitability and even market differentiation in many industries.
Building a profitable business by the end of 2017 basically means you master the shift from ‘me’ to ‘we’ and start tapping into an array of digital businesses, digital customers and digital devices.
With a broader digital ecosystem, you can place bets on a wider scale which will transform into a stronger and profitable business in the long run.
What Should Be Your Expectations In Terms Of Digital Transformation between Now and 2017?
According to the latest assessment by IT analysts, investing in business technology – especially in digital transformation – will lead to significant growth of IT-related markets within the next 5 years.
The number of enterprises embracing digital transformation is also increasing drastically with implementations set to double over a decade to come. Some of the things you can expect if you have a proper digital transformation strategy include:
- Digital transformation in every functional area of the business with an independent executive position to oversee implementation.
- An immersive and authentic omni-experiences for your customers, partners and employees if you’re a B2B company.
- Investment based on contextual understanding and automated next-best-action capabilities.
- An information based company that focuses on relationships, people and largely on intangible capital.
Are Costs Of Digital Transformation An Issue To Worry About?
Carrying out digital transformation should be just a trend to you, but it’s supposed to be a business strategy that will redefine customer experience through social, mobile and analytics, as well as cloud technologies.
Essentially, that has helped many enterprises enjoy whole new levels of productivity. And when compared to the long term benefits the digital capabilities can bring to your company or organization, the amount of investment put into these technologies can be worth it.
Based on the recent studies on the implications of digital technologies on businesses, there’s evidence that digital transformation:
- Is reshaping industries into somehow interconnected ecosystems
- Creates huge efficiencies as businesses continue to master the digital technologies
- Improves company vision as working together with different stakeholders
- Shapes experiences and possible outcomes for the benefit of the business
Does The Size Of Your Business Matter When It Comes To Digital Transformation?
With the current trend in digital transformations, any size of business can work towards improving its presence in the market. By tapping into the digital ecosystems, ordinary businesses are capable of tackling challenges that were previously beyond their scope.
The digital systems ideally result in customer excitement on products and services, provide inspiration to employees and even galvanize long-term suppliers.
This will not only increase the efficiency of operation of your business (whether big or small), but will result in you reaping big rewards on your investments.