The COVID-19 pandemic has made the need for innovation even deeper. Be inspired by these successful digital transformation success stories.
Many businesses have taken a hit from the pandemic. However, some of them used this highly uncomfortable situation to improve their business models. They combined digital technology and people in new ways that helped them survive the crisis. In fact, their strategies have made them even stronger.
The COVID-19 pandemic proved that we are living in a world full of uncertainties. However, there are tools to help us answer these changes, or even embrace them. One of those tools is digital transformation (DT).
DT comes with tons of benefits. For instance, it makes your company future-proof. It streamlines your business operations, resulting in better customer service. To summarize, DT makes you resist a business crisis. After all, this is what we currently need.
Yet, DT requires careful planning. Studying successful digital transformation examples will help you formulate a strategy. Listed below are some of the successful digital transformation stories.
King Arthur Flour
As the name implies, King Arthur Flour is a flour producer in the United States. In fact, they are the oldest of such a kind in the United States. Their nature of business might seem incredibly traditional. However, they can still benefit from DT of some kind.
King Arthur Flour is one of the companies that took a huge hit from the pandemic. The company’s brick-and-mortar shops responsible for delivery and sales got shot down. King Arthur Flour solved this by creating new demand online.
They created and published engaging content involving people in home-baking activities. This strategy has made many people want to take part and buy flour from King Arthur. The company has experienced an annual sales increase of 200%.
Huanxi Media Group
Cinemas have been a core part of the entertainment. We enjoy watching movies in cinemas with sodas, snacks, and the smell of popcorn. However, this custom is impossible to be performed safely during a pandemic.
Yet, Chinese media company Huanxi figured out a solution to these restrictions. For instance, the movie premiere of ‘Lost in Russia’ was supposed to take place during the Chinese New Year festivities.
Huanxi adapted to change by partnering with Bytedance (TikTok’s owner). Together, the two companies organized a live-streamed premiere. In just two days, this move generated an income of over $600m.
Ping An Bank
Ping An Bank is a Chinese bank located in Shenzhen. This bank was no different from the businesses on this list – it had problems delivering delightful customer service amidst the pandemic. Fortunately, Ping An Bank had built technological advantages before the outbreak.
The bank developed fully online access and contactless services to ensure that customers would seamlessly receive services. As a result, Ping An Bank’s number of customers increased by almost 12% during the first half of 2020. Moreover, even small and medium businesses now benefit from Ping An Bank’s financial management solutions.
These are just some of the successful digital transformation initiatives during the pandemic. They all adjusted to recent environmental changes. More importantly, they aimed to deliver greater value to end-users.