It is estimated that by 2018, between 25% and 50% of the total income of any given company will come from the digital business, regardless the sector, as the digital transformation is nowhere near to its peak. And it’s here to stay. Currently some sectors already receive half of their customers through digital channels. Insurance companies, for example, get 45%. Society has gone digital, and if the companies don’t make the appropriate changes to adapt their business model to this new paradigm will face serious difficulties to survive. It is both the consumers and the employees demanding these changes, so corporations need to adapt globally in order to attract new clients and retain talent.
Digital transformation affects every aspect in corporations, be it customer search, communication, work management, internal training, or attracting talent. Small companies may face more challenges to adapt, not necessarily because they can’t afford it, but lack of know-how. Solution for the small enterprises is either digital training or seek for consulting advice. But action must be taken, as digitalisation is here to stay.
There are many factors involved, but we can name a few of the key aspects that the companies must address if they want to succeed:
SMARTPHONE, THE STAR
70% of web traffic comes through mobile devices. It is the star of the new reality and transformation processes that do not take it into account hardly succeed.
BIG DATA, THE NEW OIL
The data is the oil of the twenty-first century, as all the information available nowadays allows the analysis of the behaviour of potential clients and modern societies. Managing Big Data is a fundamental process in the digital transformation.
VIDEO, FAVOURITE FORMAT
Video has become the preferred format of the new digital reality. Less reading, more visual. If you want to boost your communication, video is an excellent format to inform about a product or service, your brand, or make your content viral.
GAMIFICATION, FOR ALMOST EVERYTHING
Marketing, Communication, Internal Training, HR departments, are increasingly applying gamification in their day to day basis. It is one of the star trends of the year and it’s being used more and more. The concept is far from new, but its application to the business world is relatively new. The digital transformation involves playing, and improving business performance from it.
These four elements are present in most plans for corporate digital transformation. There are more, of course, and vary depending on the sector. But these trends mark the guidelines to be followed by companies joining the digital transformation. Not doing so is not an option. Or at least, it is not an option for a promising future. The new reality has brought a new environment, a new business paradigm. In some sectors this transformation is blatantly obvious: music industry or publishing have had to adapt to new ways the public was using their goods. iTunes or Amazon are the answer to the new digital user demands. Companies that chose not move forward within these two industries have been forced to engage the digital transformation in full swing in order to survive in this highly competitive context. Digital transformation is a must, not and option. And there’s no way back.