How Companies are Digitalizing their Business

Don’t have an online presence? Here’s why you should.

Did you know that 36% of all North American businesses do not have a website? Even more intriguing is that 35% of all small businesses think their operations are too small to warrant a website.

Digital transformation is a concept that has been around for some time. The term has evolved to encompass any form of change or innovation that affects the digital landscape. This can include organizational restructuring, corporate culture changes, marketing strategies, and customer experience innovations. The digital world is becoming more and more a part of our everyday lives. It has transformed the way we work, the way we interact with people and companies, and the way we do business

The digital transformation of businesses is not just limited to marketing or sales departments. It affects every department in the company, including accounting, operations, service, and internal IT departments. Businesses that are not prepared for the digital transformation will lose out on business. Companies need to understand each area and its significance clearly. Digital analytics refers to companies using software, email, and other digital tools to gather and analyze customer data. These tools can help survey call tracking and customer service centers to become more efficient.

Transformational Criteria for Digital transformation

Processes: Digital transformation enhanced ability to drive business outcomes, meet customer needs, and create competitive advantage, reduced costs, improved efficiency, and innovation.

Dynamics: new practices that disrupt the status quo; collaborations across organizations; different ways of thinking about delivering value; new models of ownership and accountability.

Organization: enhanced agility and adaptability; established teams that can move fast; increased speed of decision-making. The transition to digital transformation is a process with many iterative steps, each requiring a different set of understanding and skills for success. With this in mind, we have developed five fundamental principles to help you become a digital transformation leader. The principles are defined, invest, innovate, execute, and connect.

The following are some of how the world, workplace, and businesses have been impacted by digital transformation:

1) Websites & online marketing: Websites have become vital for any company that wants to stay in business. Marketing campaigns are also done online these days

2) Cloud migration: The cloud has helped businesses move away from expensive

3) Customer insights: Businesses use data to understand their customers better and what they want from them. They also use it to understand how satisfied their customers are with their products or services.

4) Online customer feedback: Surveys, feedback forms- Offline customer feedback: Emails, surveys.

5) Data insights on the web: Web analytics and social media data.

The Different Areas of Digital Transformation

Digital transformation modifies a company's business model from an analog to a digital platform. This process can be done in many ways, but it usually involves four steps. The first step is to identify the problem that needs to be solved and find out more about it. Next, determine what you want to achieve by solving this problem and how you will know if you have succeeded.

he outcome would be that customers have a better interaction with the company, and companies can make more Plans on how to get there. Finally, implement the Plan and measure your success. The problem that needs to be solved is the company's ability to make money off marketing products or services and their customers' ability to interact with the company digitally. A company's ability to communicate effectively with stakeholders needs to be improved. The Plan is to create a marketing plan that will increase the company's ability to communicate with stakeholders effectively in their valued local communities.

The world has transformed digitally with the introduction of smartphones and social media. The workplace has also changed digitally with cloud computing and artificial intelligence. Businesses have also altered digitally by using digital marketing tools to personally reach out to their customers. The study of marketing has gone through a fundamental change, understanding that marketing is an activity or set of activities that seek to find creative and practical ways to satisfy the customer's needs and build customer value. In recent years, some scholars studying business-to-business (B2B) have sought to increase understanding in this area. Their research has concluded that an online marketing strategy is crucial for companies wishing to be successful in the B2B market. The following are six key factors that can help a company increase its sales and profits in the B2B market:

1, Understanding target markets .

2, Creating buyer personas.

3, Understanding the target customer's motivations.

4, Creating a through-story for the target customer

5, Understand a competitor's strategy

6, Understanding competitors' strengths and weaknesses.

Benefits & Drawbacks of Digital Transformation

Digital transformation is a process for businesses to adjust their organization and operations because of new digital technologies. It involves looking at how technology can help solve problems, build competitive advantages, and innovate how business is done. Elisabeth Kretschmann, the CEO of Gigya, noted in an interview that "trends in cybersecurity have changed dramatically." She believes cyber threats will continue to evolve, and new technologies can help companies develop a competitive edge. The Global Innovation Index highlights how technology has helped propel economic growth and created jobs. The top 20 economies have created 290 million jobs between 2010 and 2017, displacing 60% of the jobs lost during the global financial crisis. The latest data shows that Canada is ranked in the top 20 countries with a 4.9% gross domestic product growth rate, significantly higher than the median rate of 2.7%. Among the 34 countries surveyed. The report says Canada is among few countries with solid macroeconomic performance and is not experiencing any severe risk of a sharp slowdown. In general, the total year-over-year GDP growth rate in this quarter was 2.6%, excluding the oil and gas, mining, and forestry sectors, which was unchanged from the previous quarter but higher.

Over the last decade, technology has become an integral part of how business is done. It involves looking at how technology can help solve problems, build competitive advantages, and innovate how business is done. This research aims to identify ways in which technology can be utilized as a tool for success in different areas of business. Assessing the impact that social media has on our current economy, we will build on the findings of previous studies and use a quantitative approach to find that social media is effective for lead generation. Social media has many uses, from communication to marketing, customer service, and content creation.

The aggregate data from social media companies shows that these platforms effectively generate leads among organizations of all shapes and sizes. To help understand the impact of social media on business, here is a breakdown of how much revenue each company generated according to their 2017 and 2018 annual reports. LinkedIn has a tiered subscription service called Talent Solutions, which includes job postings, managed to recruit services, and advertising solutions. Its revenue was $2 billion in total in 2016. Twitter's revenue in 2018 will be approximately $1 .3 billion. On the other hand, Facebook has a significantly larger user base than Twitter, which currently has 328 million users and is increasing. Its revenue in 2018 will be approximately $39 billion. Which company is more expensive? Facebook's revenue in 2018 will be roughly $39 billion, while Twitter's revenue in 2018 will be approximately $1.8 billion. Twitter's valuation is 637 times less than Facebook.

Technology has become an invaluable tool for businesses and entrepreneurs. This research aims to identify ways in which technology can be utilized as a tool for success in different areas of business. Although it is no secret that technology can streamline processes and make life easier, how it has been used varies significantly from sector to sector and industry to industry. In the financial industry, technology has allowed banks to scale operations, replace expensive paper-based processes with automated ones and provide a better customer experience. In the public sector, on the other hand, technology has allowed governments to scale operations, merge multiple organizations into one and provide better customer service. In 2015 alone, over 2 billion apps were downloaded by users worldwide. In response, the App Store rose to over $9 billion in revenue, with a 90% increase in revenue from 2014. November 2016, the App Store had over 2.2 million downloadable apps. As businesses expand and their technology becomes more sophisticated, they can use new technologies like artificial intelligence to strengthen customer relationships and expand operations. The AI market is expected to grow from nearly $5 billion in 2016 to over $30 billion by 2023. With the help of AI assistants, people can do more with their time, automate repetitive tasks and focus on other tasks that make them happy.

Case Studies on How Digital Transformation Has Worked for Various Businesses in Different Areas

Technology is a divisive subject. Some people are all for it, while others are passionate about the idea that technology is destroying our humanity and way of life. When it comes to business, however, the attitude has shifted dramatically. Technology is no longer a "nice-to-have"; it's a necessity in today's digital world because it has changed how we work, live, and communicate. To stay relevant in our ever-changing tech industry, organizations must understand how their current workflow stacks up against the technology they could be using.

The world has transformed digitally with the introduction of the internet and mobile devices. The workplace has also changed digitally with cloud computing and automation. Businesses have also altered digitally by using digital marketing tools to reach their target audience. Digital transformation has been exponentially increasing in scale and speed. To keep up, businesses need to evolve their digital marketing strategies constantly. There are a variety of technologies that allow for digital transformation. Artificial Intelligence (AI) and the internet of things (IoT) are the most prominent technologies. Artificial intelligence is the capability of an agent to perceive its environment and take actions that maximize its chance of success in that environment. AI is a complex topic with many moving parts, but it's not magic, so don't be fooled by all the hype. Essentially, AI is about making software that can learn and react to its environment. This includes creating ways for software to decide what it should do next and learning to understand the world around it. And essential—in this case—is the ability of software to learn in a way that gives it the ability to improve. This is a crucial capability that I think is important regarding software's impact on society. And while we need to make sure that software has other stuff, like safety, security, and reliability, this ability for software to learn will enable it not just to be used but also to be made better.

How does a digital agency save you money?

Nearly all 67% of North American businesses report a lack of cash flow as a major problem. An investment in a digital agency will save you money in the long run. Here’s why: