Digital transformation is forcing businesses to amend their business methodologies and models in order to adapt themselves to the increasingly digital market. Well, what’s interesting to note is it’s not the businesses that are driving this change to digitalization. It’s is actually the customer.

In today’s world, customers expect automation and expect all the information related to the service or the product on their preferred device before making the buying decision. It’s their customer journey that dictates your business strategy.

Hence, in order to keep your buyers persona always connected to your offerings and make all the information accessible to them anytime, your organization must embrace technological innovations to deliver an unmatched and exceptional customer experience.

Fortunately, businesses realize the importance of digitalization and are already adopting it to deliver the customer first experience.

The net global spending on digital transformation in 2018 was approximately $1 trillion.

State of Digital Business Report by IDC

That explains the increasing digital spending by businesses globally. However, what’s interesting to know is that the number is expected to increase to more than $2 trillion by 2022. The business is increasingly adapting themselves to the digital transformation over the traditional methods, and the proof that 79% of the organizations admitted that COVID-19 increased their budget for digital transformation.

Doesn’t that give a clear hint to how fast we’re approaching complete digital adoption?

They say exceptions are everywhere! 47% of organizations haven’t embarked on digital transformation yet, and 59% of organizations believe it’s already too late for them to get started.

Well, better late than never! All a business needs to do is change how their services and products interact with its customers/clients and provide their best possible customer experience through all available digital touchpoints.

The businesses that successfully transform digitally create highly engaged and loyal customers. According to a study by Rosetta, customers that receive digital experiences from a company are,

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  6 times more likely to try a new service or product from that company
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  4 times more likely to refer the brand to their friends and other connections
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  2 times more likely to buy products or purchase services

What’s more interesting to know is that MIT’s study observed that companies that have embraced digital transformation are 26% more profitable than their competitors!

Finding it surprising? Well, have a look at how top companies are benefitting from digital transformation within the organization.

Digital Transformation Time Frames and Growth Rates

the best possible customer experience, it’s inevitable for businesses to understand the right way to stay connected to the customer through digital touchpoints.

So, have you embarked on your journey on digital transformation for your business? Or, are you from that 59% who consider it’s already too late to transform themselves?

Well, whatever be the case, we always have your back. Linkfields’ digital transformation services help businesses like you evaluate their digitalization requirements and how best to deploy transformation that drives business growth.

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