Digitalization: a growth driver for a company
5.16 billion: this is the number of Internet users on the planet. That’s about 64% of the world population. Of these, 4.76 billion are on social media. These numbers alone demonstrate the immense importance of technology and digital services in our lives. For a company, social networks and the internet are important vectors of visibility and marketing. According to a McKinsey Institute study, a company that uses digitalization grows 5 times faster than others. It’s a fact: digitalization drives growth in a company. Why? Find out below:
Retain customers and attract new ones
On the business side, technology has profoundly changed customer relationships. Indeed, digital technology breaks the distance barrier, which revolutionizes customer service for both customers and companies. Exchanges become easier, faster and more personalized. Customers are more satisfied: they no longer have to travel to get an advisor to answer their questions. Moreover, information and news about the company are more accessible (social media, newsletter, etc). The company, too, finds many advantages in digitalization. It can offer its customers personalized support, highlight its products and offers through different tools (videos, photos, stories, tutorials…), share information instantly, be innovative and attract its customers with modern strategies, widen its target audience thanks to an increased visibility and others. Moreover, nowadays, for a company, being present on the Internet is also a way to reassure customers: when this is not the case, the company tends to look shady. Digitalization allows a company to retain its customers, to attract new customers, but also to face the competition by making sure to stand out from the others. This is all essential for the proper functioning and development of a company.
Note: It is recommended that a company responds to negative customer feedback. This shows its involvement and commitment to improving its services and products.
Reduce costs and save time: a perk for the development of your business
Digitalization has many advantages for a company. Among them is cost reduction. Indeed, all investments made on digital media will turn out to be less expensive than via traditional media. A McKinsey study highlights the fact that digitizing information-rich processes can reduce costs by up to 90%. The amount of money spent on corporate communication can also be reduced, as well as operational costs. For example, the cloud is one of the essential digital tools for companies to save money: it allows a company to store its data securely and instantly; there is no need to invest in hardware that takes up space and requires maintenance costs. As you can see, the savings made thanks to digital technology allows a company to invest more money in the development of its activity. Moreover, this mode of operation has the advantage of freeing up time for a company thanks to the automation of actions and processes. This saved time offers the opportunity to a company to focus on other aspects of its business and, thus, to evolve.
Increase your productivity
Digital is a powerful tool requiring minimum effort. Indeed, with just a few taps, it gives you access to a large scale market. There are no more borders: thanks to digital, a company can reach people from all over the world. This naturally leads to more customers and therefore more sales for the company. Innovative solutions such as mobile applications or 3D visualization can be made available to customers. Online payment is also a major innovation: it allows clients to make purchases and sales at any time without leaving their house. For a company, this considerably increases its productivity.
A boost to innovation in a company
Today, to develop a business, traditional methods are no longer enough. Digital is more than necessary to achieve this. In addition to all the advantages stated above, digitalization is also a good way for a company to innovate. Indeed, digital is useful to collect customers’ opinions, to make statistics, to access digital data flows or to be aware of the latest news and new trends. Technology allows a company to analyze the market and to know what works, but also to determine its weak points and the aspects to improve. To put it simply, innovation aims to bring a company better collective intelligence and new internal capabilities. To benefit from this, nothing could be simpler: all you have to do is find all the potential in the data.
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