The business world is in a period of transition. As technologies evolve, industries across the globe are discovering that the tried and true processes that have kept them afloat for decades may no longer be enough. Today’s clients are connected, informed, and unprecedentedly technologically savvy, and they expect that the organizations they associate with to be likewise up to date.
Digital transformation — the process by which organizations modernize themselves to incorporate new digital technologies throughout their entire business — is becoming absolutely essential. Today’s businesses are discovering that new standards are reshaping what it means to be ‘up to date.’
Customer Expectations Are Evolving.
A large part of this shift has to do with evolving customer expectations. Today’s consumer is connected, informed, and unprecedentedly tech savvy, and they expect the organizations they do business with to be likewise empowered.
According to the Salesforce 2016 “State of the Connected Customer,” more than half of customers agree that technology has significantly changed their expectations of how companies should interact with them. Additionally, 71% of consumers say that customer service provided at any time has an influence on their loyalty.
Modern clients want brands that can deliver on their promises instantly. They want brands that can offer service and support whenever they might need it. The want brands that can connect with them where they are, not where the organization tells them they should be, and ones that offer a seamless experience across every channel. And, when they don’t get it, 70% of consumers say that new technologies have also made it easier for them to take their business elsewhere.
And while the customer experience will likely always be the biggest differentiator for buyers in all industries, client expectations don’t necessarily begin or end with the transaction. Customers want to know that their brands are not dragging their feet when it comes to technology, with 57% of consumers saying it’s absolutely critical or very important for companies they purchase from to be innovative.
With this in mind, decision makers in businesses are emphasizing the need for digital transformation within their organizations. It is predicted that by the end of 2017, two-thirds of the CEOs of Global 2000 companies will have digital transformation at the center of their corporate strategy. But many still have a long way to go, as currently only 10% of companies describe themselves as fully digital.
A complete digital transformation takes time, but by focusing on the largest, most impactful processes first, organizations can see significant improvements earlier rather than later. Less impactful processes and systems can be targeted after the fact, once the most important factors have already been optimized.