Digital Transformation Insights

Digital disruption impacts every aspect of business—from communicating with your customers to reinventing business models, to creating new products or entering new markets. Today 89% of enterprises intend to adopt or have already adopted a digital-first business strategy in order to truly transform their business. The drivers of digital growth have undergone a rapid and massive transformation where disruptors have created new business models based on an agile operating structure that successfully engages in a larger ecosystem by unlocking new sources of value.

Today 89% of enterprises intend to adopt or have already adopted a digital-first business strategy in a bid to deliver powerful omnichannel customer experiences. CPG, which was slow to adopt digital, seems to have reached the digital tipping point with new digital players redefining customer experiences and acquiring significant market share. Digital innovation is rapidly transforming CPG companies in a number of ways, including how they are building their brand presence, engaging with their customers, creating new business models, and innovating new products or service offerings enabled by digital technologies. In this scenario, transforming from a traditional CPG company into a digitally native one has become critical for every CPG player.

Digital has emerged as a driving force behind what is possible, connecting enterprises with a new generation of customers like never before. According to Gartner, 50% of CEOs expect their industry will undergo a substantial transformation or be unrecognizable by 2020. This makes digital transformation imperative for all businesses, whether Automotive, Logistics, CPG, Finserv, Retail, Travel & Hospitality or Healthcare.

The consumer packaged goods (CPG) industry is undergoing a major transition as next generation of customers are becoming major drivers of new digital experiences through omnichannel retailing, eCommerce and mobile platforms. Based on increasing demand, CPG companies have to create new products leveraging the next generation of digital technologies to deliver hyper-personalized customer experiences. The key to creating a digitally transformed CPG company is to build upon new business strategies to define and execute new construct of capabilities. This allows CPG companies to powerfully engage with customers, integrate digital at the core of their business and ideate new business models including new services and products.

Omnichannel personalization is key to winning intent-rich moments in the customer journey and cultivating brand loyalty.

In a channel-hopping, brand-shifting economy, customer loyalty is the direct outcome of a deep, thoughtful customer experience strategy. Retailers that truly personalize and contextualize offers to individuals can drive more than 2 times improvement in customer loyalty, according to IDC. Personalization technologies make lasting customer loyalty possible through unique and valuable customer experiences powered by a deep understanding of customer needs and motivations.