Digital transformation is rapidly changing the way businesses are working and has even more potential to dramatically alter the way brands behave internally and externally. More and more brands are starting to see the potential of digital for engaging their customers, streamlining processes, delivering an exceptional brand experience and creating a great internal culture. Simply put, digital transformation enables businesses to do more with less friction.
What are some of the benefits that businesses experience when they embrace digital ways of working?
1. Deliver a stronger brand and customer experience
According to Forrester Research, today exceptional experiences are your best competitive advantage.
But how do you deliver an exceptional customer experience? You start internally! First you must ensure that every internal team has a good understanding of what a great customer experience looks like and how they fit into delivering that experience. Make sure you have the internal processes and tools in place that allow your staff to educate themselves about your brand promise. Once your teams know what to do, then encourage and reward them for delivering that great brand experience throughout the customer journey.
2. Enhance your brand reputation
In 2011, 68% of top executives placed the highest priority on actively managing their brand and reputation, in 2017 that number is 81%. (Accenture) This shows that more and more often, brand and brand reputation is making its way into boardroom discussions.
Here at Brandworkz we have seen a growth in the number (and diversity) of brands who are coming to us looking for a brand management software system that will help to educate their internal teams about their brand and what it stands for. These brands know that to communicate internally in a consistent way will result in a more consistent brand externally and help deliver an exceptional brand experience both on and off-line.
3. Streamline your processes and operations
The Digital Barometer from PA consulting has shown that 58% of businesses have not adapted their internal processes for the digital revolution. These businesses are wasting time and money that could be better used elsewhere.
A client of ours, Rathbones Brothers, uses the Brandworkz Approval Workflow module to automate the production and sign-off process for new marketing materials. They replaced a tiresome paper-based system and have seen significant time savings.
4. More sales
It has been demonstrated by the MIT Centre for Digital Business that brands that embrace digital transformation and better digital work practices are 26% more profitable than their industry competitors and benefit from 12% higher market valuation.
Your customers are using digital, you must meet them there.
5. Customer retention is easier
The number one priority for any business is the retention of customers and the growth of the customer base. PWC have also found that 78% of consumers were influenced by social media in some way when making a purchase.
Using digital to engage with your customers post purchase will help to deliver a better customer experience, especially if you can react quickly and deal with any issues they may have.
6. Extend the reach of your business
Technology helps to manage and exploit the different digital channels that are available to marketers in this era of digital marketing. (Brandworkz)
The challenge is how to control the marketing content necessary to communicate in multi-channels. Those who are successful, centralise and manage all of their marketing content in one online brand management system. That way sharing is automated and only the right content gets used, ensuring a consistent brand and message, no matter what channel.
7. Get to market quicker
A poll by PA Consulting found that 71% of respondents felt that the legacy systems that they were using were holding them back and affecting their ability to get their job done.
Digital products give modern marketers the tools they need to get their work done quicker and to a higher standard.
8. Build a company culture that is focused on creativity and innovation
Only 26% of employees think that their business has the right mind-set to survive and thrive in the digital age. (PA Consulting, Digital Barometer)
Not only are business under prepared for digital transformation, they may not be listening to their staff who are worried about digital readiness. A company culture that embraces technology and uses it to improve processes can create a culture that encourages and nurtures creativity and innovation.
Embracing technology and using it to improve business processes creates a company culture that encourages creativity and innovation.