The need for the digital transformation of a business is visible in the fact that 70%-80% of people today search for a business website before visiting or making a purchase. But, a company can lose 70%-80 % of potential clients due to the non-availability of their business website. It is a fact that technology is not an option, but it is a necessity for businesses to ensure their survival in this competitive world. The dependence on the digital world is not due to the pandemic hit.
Even before the pandemic hit, the need for a digital presence for a company was on the rise. The pandemic hit gave acceleration to this transformation. Due to such reasons, today, more and more businesses are investing in their digital transformation and marketing practices. However, some small businesses still hesitate to invest in digital transformation. But, the benefits of digital marketing for a business are way more than its cost.
10 Reasons for Investing in Digital Marketing Transformation
Here are some reasons that show that digital transformation is necessary for a business:
- Efficient Resource Management
Digital technologies help businesses to consolidate information and resources in a single place with the help of software tools. It leads to efficient resource management as these software tools can be integrated with applications, databases, or other software so that employees can access the information in one centralized document. From the details of the suppliers to the contacts, businesses can store all the information in software like CRM that allows efficient use of resources.
- Efficiency and Productivity among Workers
Digital technologies help businesses collect data in a central place that increases the efficiency and productivity of workers. Employees can analyze all the information from a single place leading to efficient use of time and effort. In addition, using automation helps eliminate the duplication of efforts and repetitive tasks. It ultimately helps the employees to focus on the main goals rather than working on tasks again and again.
- Better Customer Engagement
Delivering the best customer experience through an offline medium can be difficult for a business. Due to this, offline businesses fail to keep their customers engaged and retained for a long time. But, digital marketing strategies help businesses target each customer per their needs, supporting the customers engaged and encouraging them to make a purchase. With digital technologies like AI and data analysis, a business can analyze the customers’ interests and run targeted campaigns.
- Increased sales and revenue
The rise of digital scope in the corporate world widens the targeted market for businesses, ultimately increasing the companies’ sales and revenue. Digital technologies like AI, Data analysis, and Automation tools widen the customer base and generate qualified business leads, leading to high sales and increased revenue. It is so because each customer is nurtured efficiently, leading to better chances of converting a lead into a customer.
- Adaptability to changes
A business operates in a dynamic environment, and every business needs to cope with these changes. In today’s time, digital transformation helps businesses to adapt and survive these changes. It provides the agility for businesses to adapt to these changes and deliver value in the long run. Moreover, a business’s digital presence makes it relevant to its industry.
- New opportunities for businesses
The world’s digital space is increasing daily and widening the opportunities for organizations. Digital marketing allows businesses to offer products and services that they may not provide through offline operations. They can reach out and nurture every lead sitting far away from them. It helps them innovate and create new niches to widen the customer base.
- Better Responsiveness
When a business works offline, it becomes difficult to respond to customer queries because of a lack of time, resources, and workers. With digital marketing for the business, it becomes easier for their team to respond in real time. In addition, using automation tools, responders, and Chatbots helps marketers interact better with prospects and customers.
- Better Business Relationships
A business can manage its relationships with vendors, suppliers, and consultants by adopting digital technologies like e-signature. A firm can communicate with these people in real time. The paperwork of a business can be replaced with digital documents that can be accessed anytime and anywhere.
- Better Relations with customers
Digital marketing techniques help them respond to customers’ queries in less time, and they can build better customer relationships. In addition, the right products and services can also be offered to the customers after analyzing their interests and needs. It creates healthy and long-lasting relationships with customers.
- Better customer insights
The most important benefit of adopting a digital marketing strategy by a business is that it can get data-driven customer insights that help nurture customers with the right strategy. Digital technologies offer structured and unstructured data that can be used to formulate strategies to drive business growth.
With the world going digital, every business needs to invest in digital transformation to match the level of competitors. By investing in digital marketing strategies, a company can reap the major benefits that we highlighted in this article. An enterprise can easily cover the cost invested with increased sales and high website traffic. Therefore, whether it is a small business or a large business, digital marketing is essential for each of them to grab a better market share. This article is written by Aarif Habeeb – an SEO expert in Mumbai.