In the same time, revenue has grown from $93.3 billion to nearly $110 billion. Moving The Things That Move The World Forward In The Pandemic, CTV Fraud Made Headlines Again, But It Shouldn’t Have. So – without further introduction – below is a selection of excellent digital transformation examples. Subscribe to our newsletter for the most up-to-date e-commerce insights. Blake is the author of two books on customer experience. Nike. Rethink the future. That accomplishment wasn’t even fathomable just a few years ago. A good example of a digital transformation is represented by Walmart. Honeywell uses data to determine the best spinoffs and movements for its company. 5 digital transformation examples you need to know 1- Domino’s ubiquitous delivery Domino’s popular pizza fast food chain has developed features that allow customers to order pizza using virtually any computing device. Instead of being overwhelmed by products, customers can easily find the right items and get help knowing how to make home repairs or complete a project. And it’s not done yet: Target plans to remodel another 600 stores by 2020, at a cost of $7 billion. The goal is to create a seamless experience across channels and to provide the best products and resources to customers. Discover how well-established companies like Volkswagen, Starbucks, IKEA, Lego and Domino’s Pizza are applying a digital transformation to their strategies. Over that same period, revenue increased from $93.5 billion to $122 billion In 2019, Microsoft became just the third company to get a $1 trillion market cap, notably before its competitor Google. A commitment to digital transformation and the resources to back it up can turn lagging stocks into industry leaders. Although there are risks involved, these companies show that finding digital solutions and processes can lead to long-term financial gains. The company switched its mindset and underwent an ongoing digital transformation to reinvent its brand and supply chain. Hasbro also harnessed the power of digital storytelling through social media and video content. Porsche: Is driving digital? The improved digital focus gives Nike a faster product development cycle, which allows it to get new products to market quickly, respond to and set trends and control how many items are produced. The transformation didn’t come cheap. It introduced a price matching program and switched its focus to advising customers, not just selling to them. There’s now a consensus in the market that there’s no way to build a successful business if it doesn’t embrace a digital transformation strategy. Should Employers Make Getting It Compulsory Or Focus Efforts On Aggressive Communication And Education? Even though The Home Depot has been very successful, in late 2017 the company decided to adopt a more expansive digital transformation strategy. Even people within the company didn’t believe it could survive against Amazon. It also added visual and voice search to its app to give customers more options. Blake Morgan is a customer experience futurist. In this sense, many organizations are investing … One of the best examples of successful digital transformation is Netflix. Seven years ago, most people thought Best Buy was dead. Her first book was 'More is More: How The Best Companies Work Harder And Go Farther To Create Knock Your Socks Off Customer Experiences." Be My Eyes is one such example – a social network that connects blind … Best Buy employees offer in-home consultations on how customers can best use their devices, and the Geek Squad will now fix anything in a customer’s home for a flat annual fee. Also read: Company digital transformation process: 5 key steps. Digital Transformation Programs are one of the main triggers why large enterprises contact us. Nike’s digital transformation is ongoing as it pushes for innovative ways to connect with customers and get a leg up on the competition. Opinions expressed by Forbes Contributors are their own. For inspiration, here are 5 excellent examples of brands that are driving success through digital transformation. As it aims to help other companies with their own digital transformations, Honeywell also made major changes in itself. Keenly aware of the astronomical growth of the Internet of Things, Ikea now offers a broad range of … To give you a better understanding of what real 'Digital Transformation" looks like, here are 5 real businesses that leveraged new … She is the author of the new book "The Customer Of The Future: 10. By tracking local trends, it can ensure the right items are in stock without losing money on excess inventory. It also set out to hire 1,000 IT and user experience professionals. The investment has helped build up the back-end and distribution channels. Microsoft has long been known for its top products, Windows and Office suite. In 2013, Hasbro stock sold for $36; today, it sells for $109. Traditional digital advertising: vouchers in print media can be scanned via QR codes with smartphones LANDING PAGEADVERTISE Online-shop tp tp tp AUTOMATION Collect, manage and … When CEO Satya Nadella took over in 2014, the company began a shift towards its cloud networking systems. But lagging stock prices and increased competition from companies like Apple and Amazon led the company to re-think its strategy and create a more forward-focused cloud business. You may opt-out by. Make digital transformation a priority for your business as well as your workforce by putting the structures, systems and processes in place necessary to drive digital maturity and encourage growth. The blurring between online and in store is working. She is a contributor to Forbes and the Harvard Business Review. Home Depot’s stock has improved from $135 in early 2017 to $215 today. Today, they’re worth around $136. In late 2017, the company said it would invest more than $11 billion over the next three years to improve and combine its physical and online shopping experiences. More than 400 stores have been remodeled and equipped with new technology in the last two years and have introduced online ordering and in-store pickup and curbside grocery pickup services. Practices shared these digital transformation examples, IKEA, Lego and Domino’s pizza are applying a digital transformation all... The same time, revenue increased from $ 135 in early 2014, right before Microsoft s! The right items are in stock without losing money on excess inventory pay off spend by 1100 % but. More than just updating technology and processes ; it also opened concept stores and improved its with! 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