Traditional business problems

Due to internet buying and digital lives, customers and revenues have declined for brick-and-mortar companies. In 2023, companies poured $2.15 trillion into digital transformation, a figure expected to rise to $3.9 trillion by 2027 (Statista, 2024). Despite these massive investments, challenges persist: while most efforts aim to update customer interactions and improve infrastructure, most companies initiate digital transformation without fully understanding their customers' needs. As such, this lack of insight, coupled with a general struggle to demonstrate ROI and cultural resistance to change, contributes to a high failure rate: approximately 70% of digital transformations fall short, often because of these oversight and integration challenges (McKinsey, 2023). Tech-savvy customers no longer respond to traditional advertising. In response to these challenges, LocaGo offers a digital platform that boosts offline companies' exposure and appeal, encouraging community support and involvement. As more consumers turn to online shopping, physical stores are experiencing decreased foot traffic, leading to reduced sales opportunities. Traditional advertising methods, such as print ads and billboards, are becoming less effective in reaching and engaging modern consumers who are accustomed to digital channels. Many local businesses lack a strong online presence, making it difficult for them to compete with digital-first companies and attract customers in the digital space.