DTI urges small.biz to embrace digital
Huge commercial opportunities
A recent DTI report has identified huge commercial opportunities for UK businesses that use a combination of digital media and a greater focus on customer needs.
Digital channels, broadband, interactive television and mobile phones are changing the way customers buy products and services, and such is the sales potential of digital channels that revenue is estimated to reach £110.5bn by 2006, rising to £146.5bn by 2008. With over 50 per cent of homes now subscribing to digital TV services, the potential for publicity and new customers is there for those willing to venture into the world of digital communication.
A spokesperson for the DTI said: “The development of innovative ideas, processes and technologies will continue to drive market development, growth and ultimately value to the customer. Looking at how a service is currently being delivered and considering how it could be better delivered to add value, is key to improving customer satisfaction and the company’s bottom line.”
The financial sector in particular have capitalised on digital services with many run entirely online. With this in mind, the DTI is advising all business sectors, including small businesses, to adopt on-line strategies in order to access untapped revenue.
To help business get to grips with the complexities of the digital medium the DTI has produced the Capitalising on Convergence Workbook (PDF). The guide contains 28 case studies of firms finding success through digital resources and practical tips on how to best harness digital technology in your business.