You can’t sit down and assume that your business is going to grow like wildfire if you haven’t adopted a digital business model. To be frank with you, it is a waste of time to continue hoping that your business will grow some day without a digital business model.
If you have been listening to what’s going on in the world recently, you’ve already heard about digital marketing, digital landscape, and digital workforce. But have you thought why those phrases have the most searches online?
Below are 6 reasons why you should digitalize your business model:
1. Mobile is Ubiquitous
The number of people using mobile phones across the world has grown and is likely to increase in the future. In 2015, the number of mobile users in the world was 4.15 billion. In 2018, the number has shot to 4.57 billion, and the number is projected to increase to 4.78 billion users by 2020. This is just a too-good-to-be-true stat nobody should ignore.
“Over 3.5 billion Google searches are made every day.”
That means, there is a possibility that millions of users try to search your business every day. Sadly, they fail to find you because you haven’t taken a step to adopt a digital business model.
2. Every Business is a Digital Business
Get on board and become a digital transformation agency. “There are between 2 and 3 million e-commerce companies in the world (excluding China)”, Pipecandy reveals. “North America (USA & Canada) has about 1.3 million e-commerce companies. If you exclude marketplaces sellers, there would be somewhere around 250K-300K eCommerce companies in the US”, Pipecandy adds. If you haven’t developed a digital business model, then you’re missing out on big opportunities. However, it’s not too late; you can still manage to catch up with the rest that have already digitalized their businesses.
3. Customers are Interested in Real-Time Insights
The world is changing rapidly and it’s no wonder why most people are searching online for customer reviews, or why they’re tracking their shipments. It’s simple, customers just want real-time insights and if you can provide them with that, you’d be way ahead of your competitors. Think of Amazon customer reviews. Normally, customers who have purchased an item on Amazon will return to give honest reviews on the products they bought. This is what any other person is looking for. Actually, it’s what determines their purchasing power.
4. Cyber-Security Requires Digitization
Every business now needs to arm itself with the current technology to curb cyber security that’s in the rise. Virus dissemination, malware, email bombing, social media hacking, online scams are some of the cyber crimes a business should deal with to ensure that their customers are safe. You can install Jump Cloud Daas, teramind, barkly, cryptosense and many more to curb the cyber security crimes.
5. Future Internet Demands
The future dictates that businesses that make the most effort to make the software and the internet itself more interactive and intuitive to customer needs. A smartly digitilized business should make one of its main objectives be to ensure users no longer go out to search for information, but rather deliver customized information to them, according to their needs and wants. For example, if you run a small business website for your or someone else’s company, you have to make sure that you use the available tools and strategy, such as localization and personalization, to present your content in the way your audience want and need.
6. It’s a Competitive Advantage
Having a digital business model sets you apart from your competitors. Have you ever imagined how fun it is to be found online ahead of your competitors? It gives you an advantage over them. It ensures customers will see your products or services first. Take for example finding the best interest rates for bank accounts or loan for your business you can use leading online comparison sites such as Compare Hare to make sure your business has the best rates available therefore giving you a competitive edge over your competitors.
Bottom Line
Digitalizing your business model is an advantage you shouldn’t ignore, if you’re a business that wants to generate more profit. Digitalize your business model today and stay ahead of your competitors.
