Digital transformational changes are driven by an organization’s productivity and operations to achieve their goals faster and better. Moreover, digital transformation is a foundational change in how an organization delivers value to its customers. Here is what transformation truly entails — and how to tell whether your organization is on the right path.
The digital transformation is a necessary disruption to encourage more than 80% of businesses to improve their customer experience. this way businesses can quickly deliver the experiences their customer wish and help them gain their loyalty.
“Courteous treatment will make a customer a walking advertisement.”
— James Cash Penney
#1. Big Data & Analytics – Driving Data to be Creative
Data has a great association with cloud technology. In fact, 70% of enterprises are expected to rely on a multi-cloud strategy in 2019, compared to 10% in 2017. This is a huge positive transition. Besides enabling businesses to be fast, dynamic and flexible, a data-driven approach can help marketers boost productivity. Being creative is not only about facilitating faster turnaround of the right content but also helping deliver that content to the right customers at the right time.
#2. Internet of Things (IOT)
61 percent of businesses have acknowledged that IoT has been playing a significant role in their business strategies that support digital transformation. Interestingly, manufacturing and high-tech are leading all other industries here.2019 is seeing an encouraging rate of adoption among mid-market and enterprise businesses accelerates. This is significant considering an increasing number of IoT platforms that are available to enable the actionable and secure application of IoT sensors to high-value business issues.
#3. Artificial Intelligence (AI)
Businesses in 2019 will continue to show their trust and love for Artificial Intelligence. Machine Learning platforms – relied heavily for enabling “smart” business operations. Not only can sales professionals be more productive by using AI-enabled sales intelligence tools to derive real-time contextual information on leads and customers, they can also harness chatbots to manage communications and use a scheduling Bot to manage calendaring and appointments.
Blockchain – the relatively new kid on the block continues to rise‘out’ of currency transaction management while becoming an integral part of the core business platform. Besides being a great enabler for transactional transparency across a wide variety of business functions, any distributed transactional process can benefit from the use of blockchain ledgers. From procurement to financial transactions to human resources, blockchain is more than just technology but an ‘experience’ business can imbibe in their digital transformation strategies.
#5. Account-based Marketing (ABM)
Account-based marketing (ABM) cannot be ignored when businesses are thinking to offer transformative digital experiences for their customers. Although still at a very nascent stage, ABM practices have been adopted or are being considered by more than70 percent of B2B companies as per eMarketer research. This is quite an encouraging feat for businesses considering the crucial role ABM can play to make companies more customer-centric and less sales-driven while focussing on increasing revenue.
It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.
— Warren Buffett
Transform the Way You Serve Your Customers
• 90% of consumers check online reviews before visiting a business.
• Online reviews can impact approximately 67% of the buying decisions.
• 84% of consumers trust online reviews as much as they trust personal recommendations.
Digital transformation is believed to have rejuvenated into its present form, since its inception in 2008. A decade later, DX is now more focused on the business as a platform that enables agile and flexible global operations. While choosing the right technology (to power up digital strategies) is essential in today’s business world, it is also important for organizations to recognize the need for implementing agile systems and cloud technology for digital transformation.
Finally, it is all about the organization’s need to build and maintain a strategy that can adapt to changing business and technology conditions – keeping customer EXPERIENCE at the helm of affairs. Because, in the end, it is the survival of the most transformative best.