Over the last year, business owners have drastically changed the way they do business by adopting digital ways to conduct their business processes. That is of course due to the pandemic, more entrepreneurs, business owners, and customers are digitizing their lifestyles. Even as post-pandemic matters are slowly getting back to normal, the process of digitization is unexpectedly increasing, and that surely indicates that we are moving into a new era of a digital world. With the up rise of Web 3 – known as the metaverse, a new revolution of “social media” will most probably overtake. Therefore, for businesses to thrive in the changing global market, it is crucial to allocate a budget for digital transformation and prioritize the digital world for the biggest business impact.
Digitizing your business: What does it mean?
As the world is moving into a more technology-focused path, the demand for businesses to digitize has grown drastically. Essentially, digitizing your business means implementing technology matters into your business operations, for efficiency and enhancing customer experience, which will then boost your sales.
This tech revolution is actually very beneficial for companies. Its main goal is to offer customers more ways to access your business, cut costs, and streamline daily operations. So how you choose to digitize your business will be based on your business’s needs.
How to Digitize your startup / Business?
There are many ways to digitize your business, here is a list of 7 ideas on how you can take your business to the next level in the digital world:
- Digital marketing
In this era of social media, your business MUST have an online presence to grow. People spend an average of 153 minutes using social media each day. So, it’s guaranteed it’ll make your business reach a larger range of potential customers and increase brand awareness. This is done by engaging in social media platforms for direct interaction with your customers and developing a well-crafted business website, also email marketing campaigns are highly useful.
- Search Engine Optimization (SEO)
This is the tool that drives traffic to your website. When people search for something related to your business service, it’s important to implement all the possible keywords that could be looked up into your website through your content and backlinking.
- E-commerce
During the pandemic, most people have turned to online procedures to buy their goods and services, and they still continue to even after the circumstances of the pandemic have loosened up. Incorporating eCommerce into your business is a huge win and if you’re a startup or a small business, there are many local marketplaces that make it easier for you to avoid high fees associated with the service.
- CRM Software
What is CRM? Customer relationship management is a digital software tool that your startup can use to organize and manage customer information. It’s greatly helpful as it provides a better customer experience, develops effective marketing strategies, and generates a more loyal customer base.
- Mobile Payment Technology
It’s hard to beat the convenience of mobile payments. Technologies like Apple pay, Android Pay, and PayPal offer additional, convenient payment methods for customers which can boost sales.
- Creating an App for your Business
Business applications are highly growing these days and it’s a new tech revolution for businesses. It makes it so much easier for customers to buy your goods, book your services, participate in your business, and so much more. Having your brand’s logos on customers’ mobiles increases brand awareness and effortlessly marketing it daily.
- The Metaverse
This new technology has only been introduced to the world around 2021, and large multi-billion enterprises are already making their move on it. It gives a whole new range for customer experience built on Web 3. The metaverse is evolving and will be the next big thing in the tech world after social media. It’s worth some research and how you can implement your business/startup idea in the metaverse.
Budgeting for your Digital Transformation
Digital transformation project requires a large investment in time and money. For the technology to be executed, it comes with so many hidden costs that may add up. Therefore, securing the necessary funding requires careful financial planning and analysis of data regarding revenue growth and business productivity. However, digital transformation budget planning needs a different process than traditional business budget planning. Why? Simply put, digital transformation is different because every project is different. Various expectations for the return on the investment put different pressures on the budgeting process, along with many unknowns in the transformation projects as they are completely new. However, not to worry about handling such complications on your own, you can always turn to us for your budget planning and financial advice. We study the bases of your business, its performance and accordingly provide what best suits you in your digital transformation process.