By Syed Atiq ul Hassan
One might ask the question why would I invest in digital when my business is hitting the expected targets? The risk with this type of thinking is not realising how the industry landscape is rapidly changing. According to KPMG Global CEO Outlook report 79% of the top CEOs are concerned their current business models are not disruptive enough to remain competitive.
Digital has completely changed how consumers do business. 67% of customers are through the buying journey before they talk to a company. This statistic cuts across industries and go beyond any boundaries. Through e-commerce how people transact online has also changed the dynamics of doing business.
Today, a small business operator can also provide exceptional customer service, market their business to new audiences, drive customer loyalty and provide many options on how to complete transactions online. This applies to from an auto-mechanic, beautician, builder, removalist to a retailer.
The cloud has provided accessibility to small and mid size organisation to technology which was only accessible to large organisation. There are platforms that can enable an organisation provide personsalised experiences for their customers which are cost effective.
There are new breed of digital agencies that are not only creative but are also enabling organisations implement the latest technology without the complexities traditionally involved in IT projects. This has been one of the roadblocks to many companies where taking a leap in to the tech world was daunting.
Sydney based digital marketing agencies called Knobin Digital (www.knobin.com) not only provide creative services but also helps businesses implement the latest platforms that enable a much richer customer experience through the customer journey. In a short time, the highly experienced team of Knobin Digital have taken companies from have a near zero digital footprint through to scaling out nationally by enabling such platforms.
According to a report titled “How digital leaders outperform their peers in every industry” by MIT/Sloan, companies that invest in digital increase their revenue by 26% and market share by over 12%. Whereas, compared to their counterparts who aren’t making such investments are losing profits by -11% and market-share by -7%. Investing in digital not makes sense to secure the long term viability but also makes drive higher profitability in the short term as well. (The writer is a Journalist, writer, and analyst).
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