Ways in which Digital has Changed the Business Forever
We exactly know the pace with which digitization has transformed the present day scenario in every aspect. Today, our society is completely driven by the digital technology. Starting from our morning routine, the first thing we do after we are done with snoozing alarms is checking our smartphones to get the updates of the updates of the world. This trend of smartphones and increasing affinity towards various gadgets has largely changes the way businesses work.
Companies want to lose no business and guess what; Digital is helping them with the process by providing them with the necessary details about the target audience. Their job, their buying behaviors, their habits and choices and their interaction with various brands. So, no business would like to ignore ‘the key to getting loads of happy clients’, just to stick to less profitable traditional marketing mediums. Digital technology has thus helped a lot in different ways to improve efficiency, productivity, increase opportunities and revenue all together. Let us take a look at the ways in which it has been a boon to the business world:
1. Improved Social Engagement:
Every business nowadays, aims at establishing a strong social image, because social media platforms are the place where people spend most of the time. Not only eternally, social networking is crucial for the employees as well to enable them to engage with each other effectively via exchanging emails. This results in fast paced knowledge sharing leading to shorter development cycle and fast response time, thus giving business an acute workflow.
When your clients like your business pages, they invite your regular updates and offers, thus helping in building an effective branding. Live feeds help in getting you the required engagement thus leading revenues to boost.
2. Real Time Data & Analytics:
Since forever, business strategies were driven on the basis of only slightly relevant data collected from various organizations, then standardizing that data and then setting up the metrics on the basis of that data. With digitalization, such data analytics and reports are easily available, and strictly relevant to your business. The traditional model of gathering data called for a lot of effort and time, plus it requires skilled team of analysts.
The digital method still requires investments but with less number of flaws, your get results easily. So whatever campaign you run, you can check how well is it doing and who all are genuinely interested in your offer. Just imagine the same in case of Newspaper and pamphlets where it would have been difficult to know how many people read your offer.
3. Cloud Being a Savior:
More and more businesses are shifting to cloud-based operations, why? It is because they are more reliable and cost-effective. With cloud computing, businesses are adopting easy work from home culture, thus saving a lot of revenue which previously went on investing in the office space management and resource management.
Also, a lot of data management issues got resolved with the advent of cloud, because one can reliably keep their confidential data intact on the cloud, without the hassle of having to maintain and backup all of it.
4. Making Way for Innovation:
Innovation is the only key that will keep your business survive in this era. Digital revolution allows brands to conceptualize new ideas and device creative vision to reach out to their customers with the same intellect. This is a way to impress your customers and thus luring conversion or leads from them.
For Example, Amazon adopted the innovative idea of leveraging Artificial Intelligence to allow people try various products right from their smartphone, just to be sure about their purchase. This not only hiked the audience response a million times for Amazon, but also gained them a consistent troop of customers who loved the comfortable shopping experience that their brand rendered.
5. Increasing Connectivity:
Do you remember how Myntra and Paytm allow you and your friends to do virtual group shopping, sitting right on your couch at your respective places. This is how digital trends have made it easy to stay connected to other devices.
Also, this network also lets vendors; delivery people connect and report in a timely manner to the buyer, thus improving the user experience all the more.
6. Smooth Online Monetization:
Payments are the most integral part of any online business, and it is the key function of the website. With digitization, shopping has become quick and easy, to be more specific, just a few clicks away. All the online businesses accept payments using Debit/credit card/ net banking/UPI in a very secure manner.
Recall the traditional setup, where customer had to walk down to the shop, carry the sufficient amount of cash/money queue up in the billing line and finally pay for the product as well as the carry bag! Jokes apart, it used to be tiring and not fun as much as the online shopping is.
7. Fading the Boundary between Physical and Digital World:
To increase customer engagement, businesses adopt digital technologies as a resolve. The interfaces are becoming so user friendly that the user does not feel like he/she is shopping in the virtual spaces. We have mentioned earlier how “Style-snap” feature on Amazon lets customers ‘virtually’ try on clothes and accessories. Another example of how digitization has impacted the live sis “Fitbit” wristwatch. This tracks all the biometrics and all the telephonic details of the owner and keeps them updated with everything, thus adding to the convenience manifold.
8. Ruling with Personalization:
Businesses use social media handles or Email marketing strategies to convince their clients to finalize the purchase. Now you must be thinking how can reaching out to far off clients personally be convenient? No, it is not, unless digital analytics come to your rescue. Through the data collected from surveys, forms and other digital mediums, you can even reply to your leads by their name. And to support it with facts, more than 85% of users make purchase responding to such personalized emails.
So, digital driven process has not only improved business but also led to expanded job opportunities. Overcoming the limitations of traditional models, digital marketing has delivered effective marketing programs.