We’re turning this blog over to Matt Sims. Matt heads up our sales team and explores opportunities with our clients.
Digital solutions can help to transform a retailer’s prospects, but they need to be specified and implemented properly to provide measurable business benefits. All too often, we hear stories of money wasted on digital solutions that just don’t work, and we are not the only ones that spot these mistakes.
A recent report from Fujitsu sampled 1,600 businesses and found a total of £827,000 spent on projects that failed, with another £663,000 spent on ones that were cancelled. 60% of retailers sampled said their experience had put them off pursuing digital projects in the future.
Why projects fail
One of the main reasons for the failure on this scale is a simple lack of relevant skills within the organisations. Jat Sahi, digital lead at Fujitsu, says in the report: “Retailers themselves are not inherently digital experts and innovators; they need external expertise to help them realise their digital vision and bring it to life.”
“Making the most of digital requires more than just the latest tools. Retailers need the right skills, processes and partnerships to ensure that the technology they are implementing has the right people and strategy behind it to see success. The number of failed and cancelled projects should be nearly zero if [retailers] used modern approaches, but what’s been made evident is that they are lacking the right components to make their digital transformation plans a success.”
Plan for success
The rewards for getting a digital project right are large, however. A new Intel report highlights a digital signage project that resulted in a 20% increase in sales and a 35% increase in customer satisfaction, while a project involving a digital menu board yielded a 7% reduction in operating costs.
As Head of Sales I find that the most successful digital projects we have been involved in are the ones where we have been a true partner in the process. With over 30 years of experience in the retail sector, we help retailers produce a digital solution that not only looks modern, but gives an excellent return on their investment.
We have the knowhow to help you focus on the goals you want to achieve on your next project, designing a solution that works brilliantly both for your customers and your bottom line. With happy customers from Sonos to Nest and Hotelplan to John Lewis , we can help bridge any skills gaps in your organisation with our in-house expertise.
Give us a call on 01483 799 200 or email [email protected] to find out how we can help transform your business today.