Going digital is a golden mantra to stay competitive from the global perspective. Digital Transformation of a Start-Up is definitely a big way to stay productive during the pandemic and beyond. Start-Ups need to be agile. Digital Transformation acts as a facilitator to bring about this agility in an organization aspiring for success in the respective industries.
If you belong to a Start-Up fraternity, if you are a budding entrepreneur with a ‘big goal ‘in mind, you need to transform your business pattern into a digital manner. How? Take a look
What is Digital Transformation?
Simply put, transforming your business using digital technology impacting your business to a new level is what the term Digital Transformation conveys. It is the digital technology that leads to the digitalization of industry. Digital Transformation is actually the process of strategically adopting digital technologies in your business.
Digital Platform – An Advantage to Scale up Your Start-Ups
- Digital platform gives way to a digital marketplace where you can spread, and expand wings globally, and that, too, at a minimum cost and at a faster pace. Just following the traditional brick-and-mortar approach limits your success in today’s environment.
- Once you adopt the digital mode, you have the right engagement of your Content (product/service), Community (customers), and Commerce (trade/business). Yes, you can now build your own community of loyal customers within hours, not in years!
Read More:
Top Industries for Digital Transformation in 2022
Is your company ready for digital transformation? What’s your measurement score on the ‘Digital Maturity’ scale?
DIGITAL is Central to Your Business
While the word DIGITAL may have a myriad definitions to relate with, for a Start-Up it is conveyed as a set of concepts. What are they and how they are impacting you, let’s discuss
- Social Media – Helping you to bond with your prospects
Scenario 1 – Before the onset of the digital age, you had to go to shops and buy things.
Word-of-Mouth helped you to choose a particular shop. Shopkeepers used to remember your tastes or likings for a product. Once your location got changed, shops & shopkeepers both changed and all knowledge about your preferences got lost, too.
Scenario2- The Digital age has arrived. Social Media helps connect you to shops and shopkeepers for life. Knowledge about your tastes, likings, or preferences is not lost. They save your data and help you become part of their communities. Location does not matter. Hash-tags control the pulse!
- Capitalizing the Power of Cloud
Getting digitally transformed means you are conducting business in the online mode. The inevitable online processes are collecting and storing data of your prospects, customers, or clients, in fact, data of all the stakeholders you keep safe forever. Not only stores, but you can access them whenever required facilitating a smoother business process.
- Remote-Working – Helping you save costs
The digital age is slowly reducing the scope of an office workplace. Yes, you don’t have to book or own individual office space. You don’t have to build a local workforce but rather depute a single person who can manage your business from the place he is residing, just anywhere in the world.
Cloud-based CRM tools like Virtual Meeting tools like Skype, Google MEET, or data repositories like Dropbox offer great flexibility in conducting business as a whole.
- Artificial Intelligence enabled search
AI is everywhere now. Voice-enabled search technology like Google Assistant, SIRI, ALEXA, etc. use voice-based algorithm intelligence to deliver search results. When you utilize these modern technologies you can get a leading edge in terms of offerings to your customer experience.
- Online sales – Boosting your selling capacity
E-commerce and web-based platforms allow you to expand your business. Online media has given wider outreach capability for marketing & advertising, thus enabling you to target a local or global audience. The online campaigns powered with intelligent automated configurations can help you in driving new leads
- Digital Payment – The fastest form of financial transactions
Various payment transaction apps are available that amounts to the digital transformation process. E-Wallets like PAYTM, and GOOGLE PAY, are a few convenient modes of financial transaction.
- Connecting to talents at the global platform
As your business starts growing, you need more people on board, onsite or offsite. Recruitment portals coupled with automated algorithms help you hire suitable people for your projects at a pace.
Digital Transformation- Creating Innovative Disruptors Aka Modern Start-Ups
Digital Transformation has created a big shift from the traditional outlets to modern, digital ones. If you want to succeed, you got to follow the trending business models that are disruptive to the traditional ones.
Thus, the Disruptive Business Models for your Start-Ups are actually the force behind creating opportunities for you. You don’t’ need to visit a bank for financial transactions. You can opt for an E-Banking or E-Wallet system.
Digital Transformation Helps Your Start-Up in 3 Ways
- Increased mobility
- Complete data security
- Enhanced user/customer experience.
To sum up, it is the fusion of ideas, strategies, and technologies properly placed in a timely manner
Are you a Startup, looking to capitalize on digital transformation and make your start-up dream a success Speak to one of our experts and get started today!
