Digital transformation. How many times a day can you hear or read that concept? It is no doubt quite discussed overall, all companies boast about having joined digital transformation, as a way of taking one's chances on the future, etc. All of them? Not, not all of them. Although big companies have jumped on the digitalization bandwagon quite fast and smoothly, for most SMEs, the way is yet to be paved.
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Although 79% of the familiar business people surveyed in Spain ensures that initiatives related to digitalization, innovation and technologies are prioritary, only 14% claim to have completed their digital journey, according to the survey results provided by the World Survey by the Family Company 2021, prepared by PwC. In fact, less than half, a 46% of the Spanish companies claims to have wide digital capacities, a figure that decreases to 38% when we refer to family companies.
Companies that had a digitalization base before the COVID-19 have survived the crisis better
They are not possitive data, regarding the current situation, but, on the other hand, companies, both big and small are aware of the importance of digitalization and are working on it. According to the survey, for the top 3 priorities of SMEs companies for the next two years, the first two are improving digital capabilities and increasing the use of new technologies.
COVID boost
During last year, we've been able to see the importance of digitalization for SMEs. The COVID-19 and its consecuences have meant a big challenge for the business sector, which has experienced to perfection the advantages of being digitalized and how bad it could get if you're not.
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There is no doubt that the pandemic has meant a huge crisis for the sector, but those companies that had a more advanced digital processes have been able to survive the situation better and smoothly. In this context, family companies particularly have been those that have taken the brunt of the COVID-19 crisis the most, to such an extent that accoring to the PwC report, 78% of them don't expect to be able to go back to their growth levels prior to those of the pandemic until 2022.
Less than half of the Spanish companies claims to have wide digital capacities, a figure that decreases to 38% when we refer to family companies
If anything positive came out of this fateful situation, it is the fact that companies have experienced first hand the importance of having strong digital capabilities, since those companies that had an advanced digitalization process, although they were a minority, have been able to respond better to the crisis.
How can my SME take a successful approach to digitalization?
It is a fact that SMEs have significantly accelerated their digitalization processeses for the last couple of years, but there's still a long way to go. From the Group QDQ, they have elaborated a series of tips to take an approach to digital acceleration successfully:
- Corporative website: Today it is essential to be present in the Web and the first step is to have a website. This will be the company's digital showcase while it offers a full and detailed full overview of their products.
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- Profile in social media: As important as it is to be present in web format, social media have become today key for any business. If your business is not in Instagram, Facebook, Twitter, Linkedin, etc. it is almost as if it didn't exist. However, bear in mind that they require a particular language and you will waste all of your effors if you don't deal with each of them appropriately. You don't need to bear in mind all the channels. It is important to find out which one covers the needs of our business and use it appropriately.
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- Global business overview: According to experts, it is essential to set a strategic plan for digital transformation, which is based on business goals, as well as setting the priorities when tackling down the process. It is usual for SMEs to not have an integrating overview from all parties, instead of that, they have a biased point of view of each department, which affects goal realization negatively.
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- E-commerce: It has experienced a huge boost caused by the COVID-19 pandemic and confinements, but it was going to arrive sooner rather than later. Once its importance is assumed, it is vital to have the adequate web tools and propose an optimal selling strategy, with images and product explanations, a simplified purchasing process, etc.
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- Search engine optimization: Once you're present on the Web, SEO and SME positioning strategies are important to promote business visibility. The first step is to include the adress, phone number, pictures and keywords, from there get into more detailled aspects.
