Posted on : 05 Sep, 2021, 12:57:23 PM
Right from Industrial Revolution 4.0 and 3.0 amongst firms to click and brick the adoption model business by medium and small-sized businesses, advanced technology has become a foundation of growth for years now. However, for the decade, it is a digital transformation, which has become one of the significant disruptions for businesses of every size. In 2021, Digital transformation refers to the process used for leveraging technology for modernizing the functioning of the business.
It is a transition towards a business model that is driven by IT, which aims to enhance how the consumer engages with the company, directly or indirectly.
Nowadays, Technology, especially technology related to voice, has completely transformed how consumers are handling things they want. So, if your business is struggling behind in pleasing the customers, that means you didn’t understand the role of the customer.
For ensuring if your consumers are really delighted with your services, focus on your digital transformation growth as it plays a key role for businesses, no matter how small or large it is. Businesses can only exceed the expectations of the customers by improving their journey through technology.
Owners of small businesses can make use of Mixed Reality (the fusion of Virtual Reality and Augmented Reality) for transforming the online experience for shopping or utilizing Artificial Intelligence for personalizing the experience of multiple users.
Individuals must have begun working on digital transformation with the specific goal at the micro-level for personalizing the buying experiences. You can build a COE (Centre of Excellence) model and ask your members to determine customer pain points in their particular department. Then focusing on converting these industry pain points and challenges into opportunities for the businesses.
The main difference here is in finding the pain points which doesn’t relate to your offering directly, which means you need to work on finding the way for making the customer experience more unique, better, and personalized for them.
Artificial Intelligence and Big data are the two integral measures to digitally transform your businesses by knowing your customer from the inside out.
By now, we all have understood how digital transformation plays an important role in enhancing the customer’s experience as the main goal always remains the same, which makes a business more efficient.
The employee’s two biggest ammunitions, which are insights and mobility, creating a culture where employees can connect with stakeholders and customers at any time from anywhere, has become one of the crucial necessities now. Whether it is about building a mobile application or POS solutions, which gives access to the customer information with history and order tracking list can be very useful for the business as they can work on digital ecosystem based on the preferences of the customer expectations.
One of the biggest hurdles for businesses or the brand is to establish themselves in the market as a whole through branding or to retain the brand name on the top of the customer’s mind. The popular marketing strategy includes building campaigns, which several brands mostly adopt for conventional marketing purposes.
However, there is no doubt that digitalization made way a lot easier, which helped brands in creating marketing omnipresence with the help of lot and Artificial Intelligence.
Digitizing services into separate forms like on-demand items managed to save so many businesses during the period of COVID-19 lockdown from going broke. Still, modernizing measures for both external and internal users who could outperform competitors.
The perfect example we can take of how Domino’s successfully took over pizza hut by letting his customers place an order from any platform, conveniently?
In 2021, creating new revenue streams is another core area of digital transformation that is used for business model innovation as technology has made most of the services and products outdated; numerous businesses or brands undergo digital transformation to come up with effective ways for generating good revenue.