The Digital Revolution is here

Actually it has been here for a while and it is here to stay.

Ever since Apple and Google, the leading companies shaping the digital eco-system, edged out Coca-Cola as the top brand in 2000, the message has been more than clear. Going digital is not an option, is a necessity! Digital Revolution is transforming not only business processes, but also competition landscape and especially how businesses interact with their customers and employees.

High-quality product is no longer the only requirement for success. Today’s customers are well informed and make their buying-decision long before their first direct contact with the company. In other words, until the moment you reach out to them, they already know all about your product/service and your competitors. While you were perfecting your sales pitch, your customers were researching your company, products, services and maybe even your employees if you are in the service sector. Feeling intimidated?  Don’t ‘be! Take advantage of the new digital wave. The benefits are vast! Actually the benefits go far beyond cost savings and improving efficiency (Figure 1).

In a survey from Ecoconsultancy[1], improving customer experience has been identified as the biggest opportunity for increasing profitability in this new digital era, followed by content marketing, mobile applications, personalization and multichannel campaign management[2]. The important thing is to first understand your customer’s journey and engage you customers across multiple channels and touch-points! How, you wonder? Here are the most important digital initiatives your company can take towards a more digital business model:

  • Integrate social media, mobile, web, e-commerce and service efforts to deliver an integrated and frictionless customer experience
  • Update websites for a mobile world
  • Further research into your customers digital touch points
  • Online display
  • Email marketing
  • PR
  • E-Commerce

According to Accenture[1], a digital business provides fully integrated services for seamless, 360-degree customer experiences enabled by data management, insight, analytics and content management.

For companies providing business support services like outsourcing companies, solutions that involve self-service and mobile applications are front runners for driving more digital business. The most popular technologies for these companies have been those which enable better collaboration among partners like SharePoint, workflow management software, document imaging, invoicing solutions and vendor management[2]. However, advancement in technology is not the only way your business is transforming. Leadership involvement is essential, as well as changes in infrastructure and organization. Actually, company culture and not seeing digital transformation as urgency have been identified as biggest obstacles of company’s digital journey.

Bottom line, the digital transformation is a dynamic and ongoing experience. Take a sit and enjoy the ride!