In this digital age, everyone wants to get DIGITALIZED. While it sounds like a great idea to match up with the current trends, it is equally important not to get lost in the rat race. Getting DIGITALIZED is not only getting hold of a few trending tools and implementing them in your business workflow. It is about perceiving how certain tools may be useful for your business and how they can improve things for you.
In simpler words, digital transformation means adopting digital technologies and methods in place of the conventional manual ways. When you choose to ‘digitally transform’ your business, it simply means ding it with the right digital tools and methods.
It is proved that the companies that adopt digital transformation are successful in yielding better customer satisfaction and delivering value.
Although digital transformation may be a complete cultural shift for your business, however, it will give you a deeper analysis of your business. Some of the digital methods may fail in the beginning but it will always be new learning for you.
Why Is Digital Transformation Important For Small Businesses?
Several small businesses have joined the race for digitally transforming their businesses—thanks to the pandemic. Although a very small number of small businesses land into the advanced stages of digital transformation; however, statistics show that soon they will see a steep growth chart.
Let us take a look at the following numbers by CISCO to get a pulse on the importance and urgency for small businesses to take up digital transformation seriously.
- 72% of small businesses are accelerating digitization because of COVID-19 and the need to operate a remote workforce or better engage with customers.
- Only 24% of small businesses are in the most advanced stages of digital transformation.
- A mere 4% of small businesses are in a digital native stage.
- Around 26% of small businesses have made little or no effort to accelerate digital transformation.
With these figures, just take a look at how it has impacted the overall global economy.
- Small businesses contributed 48% ($17 trillion U.S. currency) to the GDP of the U.K., the U.S., Germany, France, and Canada.
- The research indicates that small businesses that digitize processes could increase GDP growth by an additional 5.6% ($2.3 trillion U.S. currency) by 2024.
- Small businesses that adopted digital transformation reported increased sales that have helped them recover from losses due to the pandemic.
- Leading small businesses have seen greater growth by up to eight times.
With cloud technology, this is perhaps the best time for small businesses to dive into the digital world.
How To Adopt Digital Transformation And Reap Maximum Benefits?
- Plan out things: Any business cannot adopt digital transformation overnight. It is therefore advised to line out a map for the upcoming three years and highlight at what stages shall your business adopt digital transformation.
- Set up a robust customer support system. A business needs to have satisfied customers, therefore, proper feedback and support are essential.
- An excellent digital strategy needs to leverage automation and artificial intelligence.
- Explore and keep adding meaningful digital tools. These tools are purpose-designed to meet business needs.
- Get hold of the best talent. Since the cloud-based business model allows remote work, you can hire the best talent from a different geographical location.
- Hire a good quality cloud-based phone system vendor that leverages an open API technology. Choose someone who will allow you to add and subtract digital tools as your needs change.
- Since digital technology is in the age of constant evolution, it is better to keep yourself up to date with the current business trends.
- Start small and grow with time.
Advantages Of adopting Digital Transformation For Small Businesses
More than 40% of business owners admit that they need digital tools and platforms to stay relevant in this age of mobile and the internet. Digital transformation is a luxury that no one can refuse to have.
Some advantages of digital transformation are:
- You can get real-time insights and information about competitors, market trends, and your business’s sales and revenues.
- Through mobile and the internet, it becomes easy to connect with the loyal customer base and get genuine feedback from them.
- With real-time information, instant communication, live stats, and data about your business, mobile and digital platforms to connect and engage with your customers, competitor’s data, and digital advantages, the sales and revenues are bound to increase, giving your business more visibility and more traffic
By now you must be convinced how essential it is for small businesses to adopt digital transformation. Online presence, availability on social platforms, and timely responses to the customers are some key factors that play a vital role in the popularity of a business in this age. This said we understand that not everyone is tech-savvy. Therefore it is better to get professional help. If you want to get professional help in the digital transformation of your business, Bharmal Systems is one name you can blindly trust.