Through digital transformation, how do tech companies help startups grow?

As technology advances, businesses need to satisfy the ever-increasing needs of their customers. Using innovative technologies and digitalization, companies grow faster, improve their business operations, and succeed. Among the top digital marketers, Ann Smarty said this in her Digital Marketer article:

“The great thing about digital marketing is that ingenuity and creativity can always win over big marketing budgets.”

To increase productivity and boost employee efficiency, digital transformation involves digitizing your business operations through web development services. The use of digital technology will help small businesses streamline their processes, develop results-driven marketing initiatives, strengthen their business strategy, and increase their profitability. In this blog, we will cover- why startups need digital transformation, why startups need to collaborate with tech companies, how tech companies provide value and add strength, and how technology has become a challenge for the startup.

What do you mean by Digital Transformation?

In order to streamline work, companies use cutting-edge technologies and software applications to replace old, obsolete tools and processes with new ones, which is often referred to as digital transformation. In this business strategy, manual processes are converted into high-speed digital ones, enhancing user experience, simplifying operations, and increasing productivity. Innovating supply chains is one example.

Why do startup companies need Digital Transformation?

If you have never used digital marketing for a business before, it may seem overwhelming. A digital marketing service for your business results in high conversion rates and helps a business earn more revenue. There are a variety of digital marketing platforms and terms that can make it seem like a bigger project than it actually is. Digital marketing plans increase revenue growth expectations 2.8 times for companies that implement them. The likelihood of increasing a company’s workforce and sales increases by 3 times when it uses digital marketing.

The average consumer spends a significant amount of time online today. To connect with the target audience, digital marketing uses various platforms and marketing tactics. You can use digital marketing to enhance your branding and marketing efforts, whether you conduct business online or in person. You can grow your business using digital marketing in these ways.

• Marketing on social networks is cost-effective and a good way to raise your profile. Engaging with your customers is also possible. Depending on your business needs, pick the right platforms – Facebook, Twitter, LinkedIn, Google Plus, Tumblr, Pinterest, and Instagram.  For instance, LinkedIn offers 80% of all B2B social media leads. How will you handle your platforms? Consider what is in it for someone who joins your community or follows you (what is in it for me). Provide some content to start. Monitor, while the users take charge. Make use of groups, questions, and chat effectively.
• Simple, affordable, measurable, personal, and customizable, email marketing offers an excellent ROI. Any audience can be reached with email marketing. Facebook and Twitter combined have more user accounts than email. 
• In the past, people sold their products through television ads and door-to-door sales. In terms of benefits, digital marketing is a better option because it is more cost effective and economical. The most affordable digital marketing channels include social media, SEO, and email marketing, whether you hire in-house designers and writers or outsource your content creation.

• Trust is the cornerstone of business relationships. Building an online identity allows you to showcase your strengths in a consistent, trustworthy way. In addition, you can establish your expertise in your field, which will make your business appear more helpful and professional.
• To assess your marketing, branding, and communication strategy, you can use digital surveys and get feedback from a large base of opinions. Moreover, you can experiment and tweak new content and updates and track how your audience responds.

It’s possible for small businesses to compete with large companies – and even win them – with digital marketing

For small businesses to get noticed, make sales, and grow, digital marketing solutions don’t require expensive tools and huge budgets. It is true that some tools will be needed, but many of the things are determined by the experience and knowledge of the owners. It usually means more than any fancy tools – especially with the help of digital marketing – to know your target audience and your product “in-depth” to be able to do it better. 

Why do these startups need to collaborate with Renowned and Established Tech Companies to fulfill their goals in a better way?

A number of exciting models of cooperation are available. The challenge is finding a model that’s right for your organization. To collaborate with startups, you must be clear about your needs and the challenges you believe can be addressed. In collaborating with startups, there are a number of different factors to consider. Developing new and innovative products and services is one of the five major categories, positioned as an innovative company, improving internal processes, and collaborating with customers and partners is another. 

How as a Tech company do we provide value to them and what is our strength?

The rapid pace at which technology is evolving is a big challenge for startups. New technologies emerge every day or existing ones get upgraded in the world of the web. Due to such evolution, entrepreneurs are almost incapable of keeping up with the changing technologies, especially those without technical expertise.  At this point in time, tech companies such as Techno Exponent help startups to grow through their ecommerce SEO services. The tech companies help the startups to build their network through digital marketing Services. They help the startup company to shortlist the core features of a minimum viable product. Offering brilliant design reliability, functionality, and usability by the tech companies to the startup is profitable in the long term. By using Google Analytics, the tech company helps the startup track whether their content is working on their target audience or not. At the same time competition plays a vital role and researching your competitors through social media helps the startup to remain updated. Techno exponent has helped many startups in identifying their value propositions. Some of them are-

1. KYS 
2. Clientain
3. Hero 
4. Kaiser

What will they miss if they don’t go for this type of Collaboration?

If the startup will not collaborate with tech companies. They are going to miss strategies for the business models. If you learn from other entrepreneurs’ strategies from their past experiences, you will get ideas to succeed. There are many pitfalls on the road to entrepreneurship. What better place to find guidance and advice than other entrepreneurs experiencing similar issues? You can leverage another arm of work by collaborating with another entrepreneur. Consider asking other entrepreneurs you’ve met for assistance if your team cannot handle a tight deadline.

How the everchanging tech is challenging the startup industry for 360-degree operation and growth?

Economic growth is primarily driven by productivity. Innovation enabled by technology plays a major role in productivity growth. However, an entire customer journey with a holistic view plays an important role in the growth of the company. As days are passing, technology is paving the way for multifunctional tools. Some of the challenges faced by start-ups are-

Competition is fierce

Each giant competes with the other. Start-up businesses face tough competition, which is a challenge.  Start-ups are on their toes due to the competitive environment, since they don’t have a margin for error. 

Management of finances

If incomes are higher, expenditures will also be higher. This is obvious. Nowadays, start-ups have a hard time managing their finances. 

Customer Trust: Winning it

Every business knows that the Customer is the king of your business. Winning the trust of the customer is the biggest challenge, mainly for start-ups. With a loyal customer base and highly satisfied customers, you can progress with excellence.

The above blog truly signifies the importance of digital marketing along with collaboration with tech companies. Technology can be used to drive efficiencies both on the sell-side with customers as well as on the buy-side with suppliers as part of digital transformation. According to this vision, the scope of the transformation in larger organizations may include internal communications and knowledge management related to the intranet. If a company wants to quickly establish brand recognition and exposure, digital marketing is the best option. There will be a few startups that will succeed, and there will be a few that will fail. Once again, the competition will find the best start-up company, and only that will work, the rest won’t. In the end, even though startups will become ubiquitous for a while, the number of them will decrease, as the most innovative startups will flourish.