5 Reasons Why Your Business Should Go Digital in 2023

May 12, 2022

5 Reasons Why Your Business Should Go Digital in 2023

Name one business that does not have an online presence or even an Instagram account. Yes, there’s probably none.

For most businesses today, they have a choice to go digital or not. However, with the constant technological innovation, companies have no choice but to go with the trend of offering online services to cater a larger audience than just those in their bubble.

Prior to the pandemic, digital transformation largely focused on creating a two way communication between the business and customer to improve its customer experience. Then, everything changed and evolved. Now, digital transformation is the centerpiece of operational efficiency and innovation across organizations. Digital marketing has been revolutionizing the way businesses get their products out to the market and this article will show you the importance of going digital.

What is digital transformation?

Digital transformation is the process of using digital technologies to transform traditional non-digital business processes and services to meet with the evolving market demands and customer expectations. It can also be defined as evolving your businesses by experimenting with new technologies and adapting your current approach to common issues that might arise. In simpler terms, as technology evolves, so should your business.

5 Main Reasons Why Your Business Should Go Digital:

1. Increased Presence

For businesses to succeed, there needs to be enough exposure and engagement for people to actually use your products and services; and this engagement should be available anytime an online audience is looking for. In todays generation, especially Millennials and Gen Z’s, they do their research online before making a purchase. Even as simple of choosing a restaurant for dinner, the first thing they will do is open the restaurant’s Instagram account or google reviews to see the menu’s, ambience, reviews, and also how far the location is from them. Companies must therefore stay connected with their customers to stay relevant.

Having a digital presence allows you to communicate with your customers online and will enable you to tap into a bigger audience that will help get your name out there.

2. Better Data Collection

Do you still collect customers data manually with a pen and paper? Many businesses are collecting data from customers but are not utilizing them effectively. Digital tools will make your life so much easier by collecting relevant customer data and having access to digital platforms with analytics and reporting tools that can give the information you need regarding who looks at your business, for how long, and for what reason.

3. Adaptive Customer Experience

When you think about it, going digital does so much for your business as it helps deliver a more seamless experience for your customers. Before, the only important things to customers were how the product looked, the price, and if it was functional. But since they’re now discovering and communicating with brands online, they’re looking for something more personal and unique than just scrolling through the catalog. It is also important to choose the right platforms that will help build an excellent customer experience based on what your customers need, encouraging them to reach out and make a transaction.

4. Automated Tasks

Repetitive and manual tasks are what slows you down from doing other things that are more crucial. These needs to be automated in order to save human resources and will take place in the background without you needing to be involved anymore. Some examples include automatically sending newsletters on specific dates instead of sending emails one by one manually. Other examples include adding new subscribers to your email list when they buy products from your online store. 

5. Increased Profit

Companies that use digital tools improve their overall efficiency, productivity and profitability. When a company focuses on digital transformation, they will be investing in talents and new generation technologies to make their business processes more effective and cost efficient. According to the SAP Center for Business Insights and Oxford Economics:

> 80% of organizations that have undergo digital transformation report increased profits

> 85% say that their market share has increased drastically

> Leaders expect 23% higher revenue growth than competitors

How to Enable Digital Transformation?

There is no doubt that adopting digital transformation for business is a step forward towards innovation and better consumer knowledge. The shift can be a long and daunting process, but the results and benefits are worth it. While most companies are encouraged and pressured to tap into the digital world, it is still essential to assess of going digital will help solve and improve your business needs. Study your brand and see whether you should transition small or go all the way. In the end, if you are ever confused on how to kick start your digital journey.

CLADE can help guide you through your journey. We accelerate digital transformation for startups and small businesses in Asia-Pacific and United States all through technology. So start working with us today!