Digital Transformation is forcing companies to alter their business models and conform to the brand-new market conditions.

The best thing about this is that people rather than businesses are responsible for this transformation. Instead, this change is driven by the customers. Customers today demand relevant content that relates to what they are doing anytime, anyplace, in the format they like, and on the device of their choice.  It’s their journey that dictates your strategy.

And in order to provide an unrivaled customer experience, your company needs to embrace technology in order to stay up with this new breed of “always-connected” customers. Thankfully, putting the needs of the customer first is already a key component of many firms’ strategies.

According to research, 40% of business executives feel that digital transformation helps them meet customer expectations more effectively, and 35% of executives say they want to increase their investment in technology to gain a competitive edge.

What is digital transformation?

Digital transformation refers to the integration of digital technology across all functional areas of an organization, which has a profound impact on both the way a company runs and the value it offers to its clients. Simply put, it involves altering how a firm interacts with its clients and how it offers clients a consistent experience whenever and wherever they require it.

In fact, nearly half of all firms said that customer experience and customer satisfaction were the most important criteria in determining whether or not to undertake a digital transformation strategy. Companies that undergo digital transformation create highly engaged customers.

These clients include:

• They are six times more inclined to experiment with a new product or service from a favorite brand.
• They are four times more likely to have told their friends, family, and contacts about your company.
• Even if a competitor offers a better product or price, consumers are twice as likely to choose that brand.
• Additionally, highly engaged clients spend 60% more each purchase, buy 90% more frequently, and have 3x the annual value (compared to the average customer).

The new, digitally conscious customer

The use of digital technologies has changed consumer behaviors. Customers can get what they want practically exactly when they need it because of mobile devices, applications, machine learning, automation, and many other things.

A new type of contemporary buyer has emerged as a result of the shift in customer expectations brought on by these new digital technologies. Today’s customers are always online, accustomed to using apps, and knowledgeable about the capabilities of technology.

Due to the options provided by modern technology, customers frequently give businesses their highest ratings based on their online customer experiences.

Conclusion

In today’s fast-paced, constantly connected, and in society. companies must seriously consider establishing a digital transformation strategy, if they haven’t already. Digital transformation gives the chance to connect with today’s consumers and meet their demands for a seamless customer experience across all channels and locations.