We’re living in a digital world. According to a recent study, 87% of companies think that digital transformation is a competitive opportunity. What's more, 51% of senior executives believe it critical to implement digital transformation in the next 12 months.
With today's consumers being more switched on, tuned in, and tech-savvy than ever before, it's essential for brands and businesses to find new ways to engage, connect and campaign with their target audience.
The way forward is digital transformation - and while many organisations have yet to walk the path to digital enlightenment, some are already reaping the rewards.
To give you a clearer understanding of the process in action, here are four practical examples of digital transformation...
The Indiana Department of Natural Resources
A few years back, the Indiana Department of Natural Resources (DNR) planned to make state data publicly available online.
Hampered by limited resources and budget, Senior Webmaster Scott Davis had to achieve a viable solution without overstretching the company's budget.
To ensure all records could be presented securely online in a cost-effective manner, DNR decided to use a cloud-based computing system developed by Caspio. Not only did this make the task relatively simple, but it also saved $100,000 of company money in the process.
Now DNR uses this software across all departments and benefits from the ability to create time-saving applications as well as the power to share information digitally in a matter of seconds - this has revolutionised the way the company conducts its business while making it greener and more efficient.
Ford Motor Company
Originally a symbol of the American dream, back in 2006 Ford took a commercial nosedive, and as a result, the company's stock dwindled. Facing bankruptcy, Ford took a new approach to their business culture and embarked on the journey of digital transformation.
Based on the following company goal, known as the 'One Ford Initiative', the business harnessed the power of technology and restructured their organisation to suit the pace of the modern world:
‘Simplifying the company’s product line, focusing on quantitative data and quality vehicles, and unifying the company as a whole.’
By slashing their IT budget by 30%, creating fresh digital processes within the organisation and quashing fragmentation, Ford revamped their brand, increased their profits and have pushed themselves back to the forefront of motoring technology.
Almost everyone knows of the Seattle-born coffee giant, but did you know that during the recession, the company suffered a huge loss?
Seen by the masses as the purveyors of high priced luxury beverages, when times were tough many went elsewhere for their caffeine fix.
Looking for new and innovative solutions to engage with their potential customer base, rather than simply developing an app, Starbucks built an an end-to-end consumer platform anchored around loyalty. The company's Mobile Order and Pay app proved a huge success based on the fact that it put the consumer first, aiding with customer attention and giving the business a greater insight into the behaviour of their customers.
Not only this but Starbucks has estimated total of $250 million on digital transformation, improving internal technology and upskilling their staff to meet the needs of the modern world. The result? Starbucks is back on top and enjoying more profits than ever before.
Caixabank is the number one bank in Spain - it's also considered one of the most innovative forces in the banking sector today.
Not wanting to fall behind, the company immediately responded to digital transformation by implementing a four-pronged strategy that puts people first.
In a nutshell, here are the four elements of Caixa's award-winning digital strategy...
- Digital proximity: the bank simplified communication between clients and branches through tools like 'The Wall.'
- Reporting and financial information: Caixabank launched services that give their customers access to real-time alerts, financial analysis, and spending patterns.
- Streamlining the backend: the company had a complete overhaul of internal processes to improve speed, efficiency, and integration.
- Feedback: the business launched digital platforms for both client and employee feedback to spark engagement and help tailor its future efforts.
“There’s still a disconnect between brands listening through technology and knowing what to do with the information they’re hearing.” - Didier Bonnet, CapGemini
By examining these practical examples of digital transformation, it's plain to see just how critical it is in today's world.
The era of digital transformation is upon us and those who act today will reap the rewards of tomorrow. Do you want to be part of the future? Register with us and open yourself up to a world of digital opportunity.
to Digital Transformation Top 5 Marketing
Automation Software Part II: Interview with
Industry Leader - Lon Safko