The concept of digitalization is just a few years old. As you might know, for a business, four to five years is not a huge term. Similarly, it has not been much time since the term Digitalization was made into the news. If you own a business, you must have realized that in the past three to four, the preferences of customers have changed drastically.
However, in contrast to the changing preferences of customers, it has been observed that there are companies that have not yet changed their way of operating business activities in accordance with the changing interests of their customers. To understand why digitalization has become a hot topic, let us first discuss what does it really means.
What Is Digitalization And It Hype?
To break down a complex statement, here is a quick explanation of digitalization. It is a concept wherein all the forms of communication including written and oral are converted to electronic means that is understandable by every person connected through the digital channels of communication. To simplify it further, a company is said to have digitalized when it begins running its business operations on wireless business networks.
Before proceeding further, it becomes important for all of you to understand what is the difference between digitizing and digitalize. Digitize means converting the hard copy of printed documents into soft copy either by scanning them clicking their photos. On the other hand, Digitalize taking the who+ business operations to digital platforms that can be accessed by millions of people at the same time.
Why Is It Important?
Digitalization is not just limited to certain business activities like logistics, etc. Rather it is a cumulative term that includes all those activities that can solve an issue in the upcoming or ongoing business projects. While working in the business sector, it becomes every organization to focus on things that can increase productivity. Digitalization is one such thing that can help businesses to reap the benefits by using the best technique on various Digital Platforms.
In most cases, Digitalization is usually implemented in a specific project. There are not many negative sides to digitalization. Using wireless networks while performing business activities is the best that could be done to reach the vast number of potential customers without delay and at the same time. So far, you must have read the “Wireless Networks” multiple numbers times. What are they?
Your self-driving cars, Artificial Intelligence, automated warehouses, use of robots in the production process, etc., are all examples of wireless networks that have made the work much easier and result in very less or no wastage while manufacturing delicate products. Digitalization is so far one of the best outcomes of technology.
When we are discussing technology and digitalization, we cannot ignore the best creation of technology, i.e., Social Media applications. Social Media applications have become one of the most trending and productive platforms for all the businesses that wish to influence a large number of potential customers at once.
If you have an account on social media applications like Instagram, Linked In, Connected, etc., you must have noticed that these applications enjoy millions of users daily. These users either visit these applications for entertainment purposes or for other reasons. However, recent studies have shown that out of every ten social media users, nine of them visit these applications to search for a particular product or brand.
This is the power of social media and digitalization we are talking about. Social media applications have become so popular in the corporate world that you would find many people, mostly youngsters, doing millions of business only using these applications. These people target their potential customers using these applications by creating campaigns.
Once a campaign becomes successful, these entrepreneurs are able to identify people who are really interested in the products and services being offered. Now the next activity they have to do is persuade these potential customers by adding engaging content to their social media account. Social Media applications are not just meant for adding engaging content to lure customers.
It has been observed that social media users get attracted to those companies that are responsive and respond to their customers’ queries quickly. It not just builds a strong brand value but also increases the trust in the company. Hence while focusing on Digitalization by the way of social media applications, it is always advised to be responsive and treat customers like a family.
Brand Value
If you could name a few things that help companies to reach the pinnacle of success, the first thing that might strike you is the brand value. It is an obvious fact that if the brand value of a company is good, it would enjoy a major share in the global consumer market. Digitalization has allowed businesses to improve their brand value using various Digital platforms.
Social Media applications, websites, and all other kinds of digital platforms are being used by companies to build their brand value. Using these platforms, it becomes easy for companies to build trust in front of their customers. As you might have seen, companies like Dominos, etc., ask for reviews from their customers. These reviews are published on these digital platforms that help new customers to understand the nature and quality of services provided by the company.
Imagine you are a new customer, reading positive reviews on the company’s website or social media platform would make build trust and you would be compelled to purchase the product or service being offered. In short, we can say that Digitalization allows companies to spread good word of mouth to their customers.
These were some of the major points that must have explained to you the importance of social media applications and digitalization. Though Social media applications are just a small part of Digitalization, their effect on a business’s reputation is huge and this is the reason why many multinational companies prefer these applications over other forms of marketing.