Mar 30, 2022
In General Discussion
In December 2019, Gartner released a report recommending that to build and grow a digital business, companies should “prepare for a comprehensive retooling and re-skills refresh over the next five years (full report available to employee contact list clients from Gartner).Then the pandemic hit. The digital business transformation that we expected to happen over the years is now happening in months. But what does it look like exactly?We surveyed 406 small business leaders to understand how they have pivoted their digital transformation strategy since the start of the pandemic; 68% of respondents said they now operate mostly or entirely virtually in response to employee contact list social distancing requirements.In this report, we'll combine our findings on how small businesses are making these changes with recommendations to help you do the same, as well as predictions for the future.Here's what we'll cover. Customer retention is central to business marketing strategiesChanging internal business operations to be online is bittersweet A Deep Dive into Digital Transformation for ManufacturersSmall businesses underestimate the employee contact list long-term use of softwareKey predictions and takeawaysNote: This report is based on results from Capterra's survey of small business owners. To supplement some information, we will share data from a separate survey of 384 individual contributors. We will use single asterisks for the Small Business Leaders survey and double asterisks for the Individual Contributor survey as needed to employee contact list distinguish the whole. Both survey methodologies can be found here.Customer retention is central to business marketing strategiesOur prediction:In 2021, businesses will double down on digital marketing efforts focused on customer retention.Here's a wild number for you. 21% of small businesses are fully digitized. At the end of 2019, that number was three percent. The digital transformation of business is here and businesses need to employee contact list re-evaluate their digital strategies at lightning speed.* In Capterra's July 2020 Digital Transformation Survey of over 400 small business owners, respondents cited customer retention as their top short- and long-term business goal. Customer retention was ranked ahead of increasing cash flow, reducing costs, and finding new customers.This is a good indication that business owners understand how valuable their customer loyalty is, especially during an economic downturn. In times of uncertainty, people are less likely to employee contact list take risks and try new things, which means the likelihood of attracting new customers is lower than usual.