Building a better business means moving with the times and harnessing the most powerful channels available – and with European e-commerce sales projected to grow to £185.44bn in 2016*, if you’re not already trading successfully online, it might be time to adopt a digital transformation strategy.
Online sales represent the single fastest growing market across Europe, but some businesses do little more than manage their websites when it comes to online activity. While this is clearly essential, if you’re not capturing a growing audience and experiencing consistent growth in your sales, you need to do more!
After all, 64% of Western European retailers are in the throes of digital transformation**, and if you don’t join them, you could soon be left behind…
What is a digital transformation strategy?
The need for business transformation is usually preceded by one or more changes to your marketplace, usually in relation to demand for your products, supply chains, consumer purchasing habits, your competitors, or technology – although often it’s a combination of these that motivates a rethink.
To create an effective digital transformation strategy, you first need to analyse where you are now, identify your end objectives, recognise opportunities and understand existing barriers to success. You also need a clear idea of consumer expectations – which have changed dramatically over the last few years as technology has improved.
From basics such as having a responsive website that allows buyers to shop from any internet-able device, to incorporating offsite marketing strategies, such as social media, PPC and targeted marketing campaigns, you need to compare what you’re currently offering with what you should be offering – then develop a strategy for bridging those gaps.
You also need to look at your in-house skills, capabilities and processes, as well as the technologies and software you’re using, to see how you can bring things up-to-date and ensure you have the required knowledge to make those changes. If you don’t have the capacity to make these changes internally, then you’ll need to find digital professionals that you can trust to accompany you on your transformation journey.
Identifying and implementing change
Digital transformation doesn’t just apply to retailers either – every service provider needs to keep in touch with their audience and technologies if they want to go with the current, rather than fighting against the changing tide. And when it comes to digital, the tide can change frequently, and quickly too.
Our digital experts can help you to identify the key changes that could transform your business and deliver a healthier bottom line, developing a bespoke transformation strategy that will keep you moving in the right direction, and keep you connected with your customers. If you’d like an informal chat about your online positioning, please call us on 0113 322 6211 and we’ll be happy to offer our advice.