The digital age is transforming the way in which businesses operate, but it can be tough to keep up, particularly when there are so many technological developments and new trends that are emerging. According to studies, as many as 4 in 5 UK companies are unable to scale digital transformation plans and this stunted growth could prove to be costly.
Why Businesses Are Struggling?
So, why are so many businesses struggling? According to Nucleus Commercial Finance Chief Executive Chirag Shah, the pandemic is one of the key reasons why many businesses are struggling to adapt:
“Many SMEs were still bricks and mortar businesses when Covid-19 struck, and so quickly adapting and setting up digital solutions presented a far greater challenge than faced by most large organisations.”
What is Digital Transformation?
Digital transformation can vary between different industries but can include remote work, cloud computing, automation and the use of chatbots just as a few examples.
Why Planning is Vital?
When it comes to digital transformation, nothing is more important than planning. Digital transformation can be disruptive and it can take some time for staff to adjust to changes, especially if it is a new way of working.
Change and growth are positive, but they can also be challenging to manage which is why you need to carefully plan any changes that you make and anticipate what issues might arise.
How to Grow your business in the Digital Age?
There are many ways that you can grow a business in the digital age and it is important to work on your weaknesses first. Often, growth requires funding so you should look into business loans as a way to obtain the money needed to grow.
You could also hire remote staff to grow the business in the digital age with roles in accounting, content creation and customer service being good options for remote workers.
Other ways to grow your business in the digital age include word-of-click advertising, which is essential word-of-mouth or conversational marketing in the digital age.
This will include visitors commenting on a blog post, people sharing your social media posts and email subscribers forwarding your emails. Embracing eCommerce is another way to grow in the digital age and a chance for your business to capitalize on the continuous growth of eCommerce.
Businesses need to grow, modernize and improve in order to stay competitive, but this can be challenging in the digital age. This is a fast-changing time and it can be hard for businesses to modernize, but this post should give you a few ideas and hopefully help you to embrace the digital age.