10 Reasons Your Business Should Invest in Digital Transformation

Investing time and money in your digital transformation strategy is a must if you want to ensure a sustainable future for your brand. It will help you engage with consumers, increase operational efficiency, shorten the time it takes to bring products or services to market, and drive innovation.

It estimates that by 2025, spending on digital transformation strategies will reach $2.8 trillion globally, more than double that of 2020. This investment will help organizations pursue a holistic digital strategy for people, processes, technology, data, and governance.

To inspire your efforts, here are 10 reasons why your business should invest and accelerate its digital transformation.

 

 

1. About 92 percent of global internet users watch digital videos every week. This includes music videos and games. The print media, while still valid, is now a less powerful force. Today's hunger for visual content is inherently digital. (Just look at TikTok's phenomenal rise) To connect with your audience, you must deliver engaging video content. Digital channels and touchpoints are the best way to enable such communications.
   
   
2. In the digital age, analog approaches to promotion and internal communication will struggle to generate leads or generate revenue, delivering the results you need.
   
   
3. 62 percent of Americans admit to sleeping with their phones, and 80 percent check their phones within the first ten minutes after waking up. This gives an idea of how dependent people are on their cell phones and digital technologies. Your content ( blog, landing ) page, emails, etc.) Make sure you optimize it. Mobile phones provide a seamless customer journey from one device to the next to enable you to influence customers and enable purchases through social commerce and shoppable posts.
   
   
4. The COVID-19 pandemic has accelerated companies' digital transformation. It shows that companies are focusing on digital services and products to compete in a changing market and to provide customers with what they want and need. While this level of adoption is unexpected, it is the way businesses must continue to work to improve.
   
   
5. Companies with a digitally savvy executive team outperform their competitors by 48 percent in terms of revenue and valuation. A published report revealed that only 7 percent of 2,000 companies are managed by digitally competent teams. It is not enough for employees to keep up with digital, the executive team also needs to have the desired skills and knowledge to direct the digital transformation strategy.
   
   
6. that 63 percent of businesses expect to receive financial payback for Internet of Things ( IoT ) projects within three years. It aims to accelerate your commercial success by investing in the power of IoT with technologies such as automation,
   chatbots and voice search.
7. There is a clear correlation between the level of digital transformation and financial performance. Investing in digital transformation is important, as revenue generation is the primary goal of business growth and acceleration.
   
   
8. Digital channels and technologies are changing the way businesses generate leads and monetize. The New York Times reported that revenue from digital products and online subscriptions is leading the way for the first time. At the same time, the global monster Amazon's e-commerce sales are estimated to reach $729 billion in 2022.
   
   
9. It is seen that investment in digital marketing activities increased between 2021 and 2022. The main areas companies invest in are data analytics (78%), company website optimization (74%), digital media and search (71%), and marketing technology systems or platforms (70%). The wealth of available digital channels, platforms, and touchpoints is growing. By investing in such areas, you enjoy a healthy momentum of business success.
   
   
10. About a third of the population is under the age of 20, followed by the 20-39 age range (30%). With over 60% of the world's population under 30, there are more digital users (or new digital users) than ever before. Investing in digital transformation is key to continuing to attract and engage this generation of digital users.