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Are You Seizing This Billion Dollar Opportunity For Your Business?

Are You Seizing This Billion Dollar Opportunity For Your Business?
The world has started to realize the importance of digital marketing and hence organizations and individuals are undergoing digital transformation in which they are using technology to improve their performance as well as reach of enterprises. This is becoming a hot topic for companies across the globe. In fact, executives in all industries are using digital advances such as social media, analytics, mobility and smart embedded devices to improve the use of their traditional technologies, which further helps them to enhance customer relationships and also their internal processes. Now the question that arises is how senior executives can successfully lead digital transformation. Looking at the unbelievable results achieved through digital marketing, Experts are now urging companies to get started on digital transformation journey. Although large traditional firms are truly different from digital entrants, most of them are starting to transform their businesses successfully through digital technologies. This is specifically because of the following reasons:
  • Common Pressure – This can be from customers, employees and competitors who speed up their digital transformation. However, each one of them transforms at different paces with different results.
  • Successful digital transformation not only comes from implementing new technologies, but by transforming your organization to take advantage of the possibilities provided by these new technologies. Major digital transformation initiatives are usually centered around operational processes, re-envisioning customer experience and business models. Companies have started to redefine their methods of interaction while evolving the boundaries of the firm.
  • It is also important to understand that successful digital transformation does not come from creating a new organization, but by reshaping the organization in order to take advantage of existing strategic assets.
Despite the hype that is created around usage of innovative digital technologies, most companies still have a long way to go in their digital transformation journeys. Transforming Business Models Let’s see what organizations feel about digital transformation A media executive says, “we have realised that if you do not transform the way we do business, we are going to die. It’s not about changing the way we do technology, but changing the way we do business.” There are many businesses who do not want to shift from their traditional marketing efforts but at the same time also using digital to transform a new business growth. A grocery firm talks about their digital transformation, “After 2 years, our ecommerce platform is bringing us 20 percent of our new clients and our traditional clients are consuming 13 percent more on average.” There are many firms that have started to build digital around their traditional products. You would be surprised to know that a national post office is creating a free digital mailbox attached to each physical mail address that companies can use as a substitute for a person’s physical mailbox. There is another business credit firm that is developing a digital business for some credit products that requires less involvement than their traditional high touch offerings. Digital technology which initially transformed the media industry has now transformed the rest of the commercial world. Companies from all over the world are experimenting and benefitting from this medium. Digital technology is providing a wealth of opportunity to those willing to change their businesses to take advantage of it. Stay tuned for our case studies on how start-ups and various other large organizations have started to integrate digital initiatives in their marketing processes to gain unprecedented growth.
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