How Enterprises Can Experience 23% More Revenue with a Digital Business Strategy
A 2018 Digital Business report by IDG clearly confirms a trend among organizations toward digital business strategy. Now is the time for digital transformation. Keep reading to learn about digital businesses in this year’s Inc. 5000, plus digital transformation takeaways for companies weighed down by complicated sales processes.
According to a 2018 study published by IDG on Digital Business, enterprises increase revenue by 23% when they implement digital-first strategies.
The will is there, but many lack the way. While 89% of organizations plan to adopt a digital business strategy, only 44% have actually followed through. Legacy businesses need help transforming into digital businesses.
>> We’re seeing a need for digital transformation among established companies with complex sales processes. If that’s you, tune in to this recording of our live webinar and learn how to scale your business through automated sales.
2018 Digital Businesses in the Inc. 5000
At least 5 out of the top 10 fastest growing companies in the nation from this year’s Inc. 5000 appear to be digital businesses.
Given the nationwide trend toward digital transformation, it’s no coincidence that we were also recognized by Inc. 5000 this August for the second year in a row. We’re a business devoted to helping established companies transform into digital companies.
As a result, we’ve had the opportunity to partner with a core group of innovative companies, creating digital products that transformed their businesses and industries. Our reputation for propelling established companies toward formerly impossible growth has led to steady expansion and a record year for revenue and hiring here at Praxent.
Our growth thus far is culminating in a refined understanding of our unique market position: we create disruptive technology that transforms complex sales.
>> We’re honored to be recognized for our company’s achievements this year, not only by Inc. 5000, but by Clutch and ACG Central Texas Growth Award.
Why We’re Focusing on Digital Transformation for Complex Sales
We’ve identified a gap in digital transformation: Companies involved in complex sales are still relying on manual methods and inefficient operations to grow their businesses.
Some well-known digital organizations have already proven the lucrative opportunity within digital transformation of complex sales. These businesses have initiated disruption in real estate, automotive and other legacy industries.
And they’re not just selling t-shirts. They’re succeeding at automating the purchase of cars, homes and services formerly bogged down by highly involved and complicated sales processes.
Here are three businesses that exemplify the trend toward transformed sales and digital business strategy:
Bungalo
Made buying refurbished homes nearly instantaneous through automated sales.
>> Learn more about the genius behind the Bungalo real estate platform.
Carvana
Eliminated the hassle of used car sales and trade-ins via an automated process and online platform.
Zillow
Transformed the real estate marketplace, connecting buyers with available homes nationwide.
The Two-Fold Problem & Opportunity with Complex Sales
Among a myriad of complicated processes, complex sales involve large transactions, multiple buyers in different roles, complicated legal parameters, pricing that isn’t straightforward, heavily customized products and services, and intermediaries such as brokers.
The resulting problem (and corresponding opportunity) is two-fold:
- A buying experience that’s slow and painful for today’s consumers who are more and more accustomed to ease and speed
- Limited scalability for businesses engaged in complex sales
Praxent is uniquely positioned to help established companies address the problems and seize the opportunities associated with resolving frustrating and complicated sales structures.
Here are just a few businesses we’ve already launched into the era of transformed sales and digital business strategy:
NRG: Transformed Solar Sales
We validated, designed and built a web-based sales enablement tool that makes it easier for homeowners to understand solar leasing options. The result for NRG was over $80 million in new sales. Read more about NRG solar sales enablement software.
Bungalo: Transformed Sales of Refurbished Homes
We partnered with Amherst Financial to design, build and launch a custom platform that allows prospective home buyers to digitally search, buy and close on high-end refurbished houses. Read more about Bungalo home sales enablement software.
Automating Sales Processes to Scale (A Practical 3-Phase Strategy)
Free Webinar Download: If your organization is searching for ways to access untapped profits by leveraging complicated sales processes, tune in to this recording of our live webinar, where we discuss sales automation and how it can lead to a fully transformed digital business.
Presenters, Kevin Hurwitz, Managing Partner; and Deanna Dial, Director of Product Design and Strategy; will teach participants how to identify friction in the sales process and practical ways to increase sales velocity with technology.
Download the webinar. You’ll learn:
- How to differentiate yourself through digital sales products
- The five maturity levels of tech-enablement of sales
- How to rapidly scale top-line revenue
- How to increase profits by reducing friction in the sales process