Before you go through the steps to building out or enhancing your digital strategy, you should understand what’s driving the digital revolution.
Go where your customers are.
Millennials are the largest workforce in the U.S., and they will increasingly dominate the adult population. This digitally-born population were some of the early users of AOL Instant Messenger, chat rooms, and Myspace (or even earlier, SixDegrees), a few of the first social media platforms. Of course, after that they accepted Facebook and Twitter as the “new” way of communicating and connecting with others.
So what did businesses do to adapt to this form of communication? They went where their customers were. Brands turned to social media to connect and build relationships with their customers.
Even more so now, businesses are having to revolutionize the way they do business in order to build their customer base and gain a competitive advantage. Companies are developing interactive mobile apps and enhancing marketing campaigns with personalized content with predictive tools – all to stay top-of-mind and relevant in the digitally demanding age. Here are some additional supporting facts:
- 35% of online transactions were made on mobile devices last year
- By 2021, it’s predicted that 54% of sales will be made on mobile devices
- This year, smartphones will make up more than $1 trillion of total U.S. retail sales
The power of data.
There’s been an explosion of data available for companies to leverage to help them understand their customers and drive revenue. Data helps you uncover what your customers want, but even more than that, it can help you anticipate their needs. In fact, 56% of consumers will share data for faster service.
The simple lesson here is that data is gold.
Expectations are high.
As generations grow and change, we’re seeing a shift in the base mindset of what our customers are and what they expect. For instance, they expect personalized offers when they go to a digital platform. Here are some more astonishing facts about what your customers expect:
- 64% of consumers want personalized offers
- 50% of consumers will switch brands if the brand cannot anticipate their needs
The average spend goes up when using technology. Organizations must adopt a transformation strategy to not only survive but thrive in today’s customer-centric marketplace.
FiveOut, a Sirius Agency, helps clients thrive in today’s digital economy by realizing their vision, understanding their needs, personalizing the message, and increasing conversions.
Contact us to learn more about the digital transformation journey and how we can help your business’ longevity in the digital space.