Whether your business is product or service-based, revenue is the reason you started it. According to messina-consulting.com, stagnation in income is acceptable over one period, as many factors affect the success of your business. However, the constant absence of a positive balance is fatal for any company or entrepreneur.
Both market and end-users are ‘merciless.’ If you want to secure your stay on the market, you should know that. Every change that happens in the market, but also in the demands of end-users, reflects on your business. How these new trends will affect you, depends on how you accept them.
The use of new technologies and tools should bring you positive business results. They are the basis of digital transformation and should help you embrace market changes as painlessly as possible. But it’s not an overnight process, as no success comes overnight.
It will probably take several years for you to see the results of digital transformation. But companies that were patient succeeded in keeping (and improving) their positions on the market. Top-line growth is undoubtedly a parameter that shows how successfully you implemented this process.
Implement Technology in Direct Contact with End-Users
The company’s revenue depends on the end-user (buyers). All the efforts and resources that companies make to improve their business are made for the sake of end-users. Buyers/clients, who are satisfied with the implemented changes, decide to spend money on products/services. And that increases the profit of the company.
There are numerous examples of companies that, several years ago, combined online ordering goods with in-store pick-up or curbside delivery. Or brands that made significant investments in big data, which made it easy for them to customize their services. And this is something end-users really value because it shows them that companies take care of them.
So, implementing digital transformation to grow your revenue should focus primarily on customers. New technologies, tools, and knowledge should make it easier for the end-user to find the product/service, communicate, or get involved with your company; that is, this transformation should ease the purchase/use of your company’s services.
Work on Communication
Digital transformation is not only about the World Wide Web and its benefits. But its impact on the success of this process is significant. The Internet largely creates people’s opinions; that is why it should be your faithful ally in order to increase the number of sales and income.
Customer experience plays a vital role in the decision-making process of purchasing a product/using the service. A good marketing strategy combined with digital transformation is a score. Some of the world’s leading brands are continuously investing significant resources in online advertising, as well as interacting with end-users.
The use of online communication software can bring significant advancements in the flow of information between your company and end-users. These are usually chatbots or automated e-mail responders, which you can read more about here.
Refine Your Digital Channels and Boost Traffic
Increasing the number of customers, sales, or value of those sales are just some of the ways to achieve top-line growth. And as the point of marketing is to provide end-users with a value they won’t find anywhere else, you have to adapt your digital marketing strategy to their requirements and current trends.
The application of targeted marketing on various channels (your website, social media, e-mails) can bring good results. It considers the preferences and characteristics of the customers from your target group, which are people that will more likely spend your money on your products/services.
How digital transformation initiated the changes in marketing approach, find out below:
In the case of targeted marketing, data is also essential. Although digital transformation involves the use of tools that will generate this data, at the same time, employees must have the knowledge and skills required for its full implementation. These are a must for creating a marketing strategy for the target group of end-users and making the digital transformation process a success.
Organizations that have already implemented (or are in the process of) digital transformation strategies will see a positive result from these changes. Finding and using digital solutions, and above all, understanding how these will affect business, brings significant financial gain, in the form of top-line growth.