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Mighty Encyclopedia

Digital Business Transformation

Digital Business Transformation

Digital business transformation is a process of adopting technology to improve some aspect of business function; for example, streamlining operations, creating new digital products or services, or digitizing existing ones. When you used digital solutions to adapt some element of a business, it's digital business transformation.

But doing digital business transformation right is more than just creating an app or a website for your existing business. It also doesn't mean you simply create a digital replica of your existing business. It means a rethinking of how you accomplish your business goals and usually involves digital business strategy and organizational reshuffling: that’s the transformation part.

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Why digital business transformation?

Digital business transformation creates amazing opportunities for both new and legacy businesses. Here are some reasons why companies and brands choose digital business transformation.

  • Scale: Digital business transformation can help you scale your offerings, selling products to new audiences around the world.

  • Streamlining: It can also streamline your business, saving costs everywhere from operations to customer service.

  • Creating efficiency: Digital business transformation can help you get things done easier and for less money. For example, creating a great app or website can reduce the drag on a customer service department or call center. In 2022, 74% of business owners said that digital transformation was one of their top priorities.

  • Better customer experience: 71 percent of people expect a personalized experience from their digital interactions, driving the need for smart and digital customer services and customer experiences.

  • Reaching new customers: Sometimes digital business transformation can help you get customers you wouldn't have otherwise had. For example, the McDonald's business was fantastic. But they still leaned heavily on their mobile app when they launched–and it’s seen huge growth. It found a huge uptake with Gen Z and saw a 26% increase in use–and that was during the pandemic!

  • Increase value: Digital business transformation increases your company's ability to create value, new IP, and collect data.

  • It's easier than ever: Finally, it’s easier than ever to do digital transformation. There are so many products and services to help your business transform, and lots of proven case studies and examples to follow.

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