Digital transformation has become increasingly important in today’s digital economy, as businesses are now expected to provide a digital-first experience for their customers. It is a process which focuses on using digital technologies to improve customer satisfaction, increase operational efficiency and maximize profits.
From personalized customer service to integrated systems which improve customer experience, digital transformation can help your business stay ahead of the competition and meet customer expectations.
By investing in digital transformation, your business can provide a better customer experience while reducing costs, improving customer loyalty and strengthening brand loyalty.
What is digital transformation?
Digital transformation refers to a business-wide transformation that leverages existing capabilities to meet customer expectations in a new digital world. It is a strategic initiative aiming to change the way you do business, through applying technology to your processes, business models and organizational culture.
It has proven to be highly effective; 35% of companies that underwent a digital transformation in 2020 stated they have experienced a revenue growth of more than 5%, while 79% created a better overall customer experience as a result of their digital efforts.
Digital transformation is a continuous journey embedded into the daily workflows of employees, and supported by the right technologies. It is not a one-time event, or a project spanning a couple of months. Rather, it is an ongoing process which brings together people, processes, technology and data to create value for all stakeholders.
Today’s digital-conscious customers
Customers today want a more personalized and convenient experience. They are more willing to shop online and expect enhanced services, such as fast and efficient delivery, easy returns and good customer service.
If you want to stay competitive, you need to respond to these changing expectations by rethinking your approach to digital transformation. Investing in new technologies which personalize the customer experience and create a seamless omnichannel experience will help you better understand your customers and predict their needs.
Consistent customer journey
Customers want a consistent experience regardless of the channel by which they choose to interact with your brand. Digital transformation can help you deliver this experience by creating a single customer journey that integrates different channels, such as online, mobile, email and in-store experiences.
You can leverage digital transformation and create a centralized customer data hub to manage customer data and integrate different systems, such as order management and CRM. Data and analytics will help to understand customers’ preferences and deliver a consistent experience. For example, if you notice customers prefer to use a specific device, or receive notifications at a certain time, you can use this data to inform your core digital experience.
While brick-and-mortar businesses are starting to adopt online and mobile channels, many digital transformation efforts are currently focused on improving and expanding online channels.
Invest in digital transformation initiatives to help your business stay ahead of the online competition, and focus on creating an online-first experience. This means providing a digital-first experience across all channels, including the website and apps, social media, email and push notifications.
Enhancing your online experience will create a seamless customer journey which allows customers to complete their purchase from any channel, any device and at any time.
Digital transformation can help you streamline your business processes, such as order management, HR, marketing, finance and customer service processes, to improve customer satisfaction with greater speed and efficiency. You can employ artificial intelligence (AI) and machine learning (ML) to automate repetitive tasks and make better use of human capital.
This can help you achieve cross-functional integration between different departments with integrated systems which support digital transformation.
Customers want greater transparency and trust in the brands they do business with, and with digital transformation, you can help build this trust. Certain digital transformation initiatives, such as a customer data hub and a single view of the customer, can help you provide transparency by making customer data easily accessible across your organization.
Digital transformation can provide improved transparency into your business processes, such as inventory management, supply chain management and procurement, by leveraging data and analytics. You can also use online channels, like blogs and social media, to keep in touch with customers and continue the communication even when they are not actively pursuing your services.
Start your digital transformation journey today
Digital transformation is all about making your business more customer-centric. It can help you provide a better experience for your customers, as well as increase operational efficiency and profitability. As with any initiative, it is important to define your goals and make sure the benefits outweigh the costs.
The digital transformation specialists at BCS365 can help you on your journey in adopting digital technology, addressing challenges you may face, and recommending the best long-term solutions to enhance your customers’ experiences.