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How companies can leverage digital transformation to survive and grow

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Did you know that only 80% of startups make it through their first year? As time goes by, that statistic only gets worse, with an increasing number of small businesses failing to get off the ground. After five years, only the best, brightest, and toughest companies are left.

Fortunately, whether or not you make it isn’t down to fate: it’s down to you. You can take charge of your company's success by learning what makes a strong brand and the tools you need to get ahead. In particular, you can leverage digital transformation to ensure your company gets where it needs to go. Let’s take a look at how. 

What is digital transformation?

Digital transformation is being increasingly mentioned across many industries, but what is it? Essentially, this is the digitization of your company. By integrating digital tech throughout every level of your brand, you can transform how you operate and where you create value for your customers. As the world moves further into a new digital landscape, it’s an essential brand strategy that new businesses, SMEs, and large enterprises should all be implementing.

How can digital transformation drive growth?

Digital transformation isn’t just a tactic to become more tech-savvy as a business. It’s a clever strategy that, if used properly, can skyrocket your company’s growth. By using focused data, digital transformation creates a more customer-centric, experience-focused brand that’s designed to succeed in the modern world. Here are just some of the benefits you could see:

  • Quicker service for your clients that improves customer satisfaction.
  • Increased productivity among staff.
  • Less wasted time and money on marketing that doesn’t work.
  • Higher-quality leads and increased conversion rates.
  • Better security.
  • A more adaptable company.

You’ll create a brand that’s ready to grow with the times so that you can adapt to what your audience wants fluidly. This is absolutely vital if you want long-term growth, making digital transformation a survival tactic that every business should look into.

Key digital transformation strategies

Before implementing digital transformation, you need to know more about the strategies you can use to get ahead of the competition. Let’s take a look at some of the most popular:

Create a user-focused website to build trust

Over half of consumers now prefer shopping online rather than in-store. If you don’t have a website for them to shop on, you’re going to miss out on a huge chunk of your potential audience. It’s not enough to simply have a website, though. Your site needs to:

  • Be easy to navigate.
  • Fit with your brand identity.
  • Gain trust from your audience.
  • Sell your products or services.
  • Attract your audience.

Don’t be afraid to call in a digital marketing agency to help you create a site that’ll aid your business's growth. When it comes to digital transformation, this is one of the first strategies you should invest in.

Increase your audience with SEO

Search engine optimization (SEO) is a key organic marketing strategy. By understanding the algorithms of popular search engines like Google, you can make your website more attractive with topically relevant content and move up in the search rankings. Considering that over a quarter of people click on the first Google result for any search, you can see why this strategy is a key factor for growth.

Help your staff with the correct tools and software

Part of digital transformation includes implementing the right tools and software to run your business. Using digital platforms can:

  • Improve staff productivity.
  • Aid in remote work.
  • Make project management easier.
  • Increase the value you bring to clients.

Look into which software fits your brand and ensure you’re creating a workplace that’s in line with modern expectations. This is all about working smarter, not harder, and your brand will thank you for it in the long run. 

Use data to drive decisions

Data is the new big thing in marketing. As you go through digital transformation, you’ll begin to build up a wealth of data that you can use to make better decisions moving forward. From what time is best to send emails in terms of click rates to whether a red or blue button encourages more conversions, you can use data for pretty much everything in the digital world. You’ll be able to make informed, strategic decisions that not only help your business survive but also keep it thriving year after year.

Improve on-demand services

Consumers expect on-demand services. If they get in touch with you, over 80% want a response within 10 minutes. Fortunately, digital transformation can make that possible. By covering your digital bases and having dedicated teams monitoring your digital platforms, like social media, you can be present 24/7 (or almost, anyway). You can also provide your audience with the quick communication they expect. This improves loyalty, gains trust, and reduces the chance of negative reviews.

Things to consider before you implement digital transformation

For brands implementing digital transformation, there are a few things to consider to ensure you have the maximum potential for growth. The first is your target audience. Ensure you know the digital platforms they use the most and the experiences they value so that you can create a targeted strategy. You also need to think about the following:

  • Which areas take priority when allocating your budget.
  • Which areas of digital transformation can most help you reach your brand’s goals.
  • How will you track the success of your strategy to drive growth?
  • Is the infrastructure in place for digital transformation? For example, do you have the staff to maintain your IT department?

It’s always better to take a little time to plan a solid strategy than to rush into one that doesn’t benefit your brand. Prepare in advance, and you’ll thank yourself for it later.

Final words

Digital transformation is becoming an essential part of every business. If you’re not taking advantage of the technology at your fingertips to grow your brand, now’s the time to start.

Published October 26, 2022