Top 5 Digital Transformation Trends to Watch Out in 2023
In the 2020s, it becomes clear that in order to grow and succeed in the market, companies need to take measures to increase sustainability, competitiveness, and flexibility. Businesses will inevitably have to evolve and transform the digital landscape, from working with raw materials at the lowest levels of the supply chain to personalizing service and fulfilling orders at the stage of dealing with changing demand. Optimization and modernization will also affect traditional business models.
The latest survey by international consulting firm McKinsey found that after the pandemic, senior executives feel the urgent need to digitize and modernize work processes and legacy systems. Many respondents admit that their companies’ business models are outdated. Only 11% of survey participants believe that current business models will remain economically viable until 2023. Another 64% say their companies need to build a digital business in order not to disappear.
Modern companies no longer doubt whether they need digital transformation services in order to remain competitive. Another question is on the agenda — what digital transformation trends should you pay attention to in 2023? Today in the article we will look at the TOP 5 digital transformation trends.
Voice search is not going to slow down and will continue to have a big impact on how brands create content and market themselves online. Today, 61% of people aged 25 to 64 who already use voice queries intend to use them in the future. Voice search brings great opportunities, so it’s important to optimize your content for it. Search engines use longer and more conversational queries and this must be taken into account for their service. By the way, a bonus – if you optimize and prepare answers to the most popular questions, then your content is more likely to be selected as a featured snippet or found in zero position in Google. Most likely, it is voice search that will become one of the most effective digital transformation trends.
Artificial Intelligence-Based Automation
Over the past few years, there has been tremendous progress in the field of AI and a significant increase in the number of enterprises using AI-based technology and automation. Artificial intelligence has made chatbots possible, which are now appearing on more websites. Its technologies help take some of the marketing drudgeries away, so brands can focus on strategy and creating the best customer experience. But don’t forget that the human aspect of marketing is still important, so the idea is to use this variation of digital transformation trends to enhance your marketing efforts, not replace the real people behind them.
Account Based Marketing
Account-based marketing personalizes messaging with businesses by directing each decision-maker with the information they need to solve specific departmental problems. Like personalized direct-to-customer messaging, account-based marketing delivers a higher ROI. It is one of the “already existing” digital transformation trends that will be relevant in the coming years.
Integrated Online-offline Customer Experience
Physical stores have experienced great difficulties in recent years. A huge number of consumers are moving their purchases and daily activities online. However, brick-and-mortar stores may not be a thing of the past if brands adjust their marketing strategy to take advantage of growing digitalization and move towards a hybrid strategy. It will be popular in 2023.
Augmented and Virtual Reality
In the future, stores will become more than just place to shop. They will become a point where brands can interact with their customers and improve the quality of their service. And VR and AR technologies will bring even more sales. Augmented reality apps that allow shoppers to try on products before buying will change the market. Such technology, for example, is already being used by Lamoda, which has introduced a virtual fitting function.
Benefits of Digital Transformation Trends
Digital transformation integrates all levels and functional areas of a modern company. Smart technologies provide the critical tools that companies need to survive and thrive. Incidentally, The Guardian publisher has an interesting article for its readers on how to succeed in the changing landscape of digital transformation. Here are examples of the likely positive consequences of the implementation of the above (and not only them) digital transformation trends:
- Deep data analysis for real-time decision-making. Many companies rely on historical data to measure performance and ROI. However, the processes of manual data collection, processing, and analysis are slow and do not allow for the rapid use of opportunities. A state-of-the-art ERP system and advanced analytics tools allow companies to see real-time data and set up powerful analysis algorithms to ensure that they make the best decisions at the right time.
- Increase efficiency and productivity. Network and IoT devices continuously transmit data, equipment logs, and performance reports. With advanced analytics tools, this data can be the basis for predictive maintenance, reduce downtime, and provide the insight you need to improve productivity and workflow efficiency.
- Optimization of customer experience. Clients appreciate the convenience and quality of the process of interaction with the company. Personalization, omnichannel experiences, personalized service plans, and real-time data access help you exceed their ever-changing expectations, grow leads, and retain existing ones by building loyalty.
The digital landscape is rapidly changing and companies need to adapt to the latest trends in order to remain competitive, and sustainable. The pandemic has made it clear that businesses need to modernize and digitize their operations in order to survive. The TOP-5 digital transformation trends present great opportunities for companies to streamline their operations, improve customer experience, and increase efficiency and productivity. All in all, digital transformation is critical to the success of any modern company and it is important for businesses to keep up with the latest trends in order to stay relevant in the market.
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