The concept of Digitalization is just a few years old. As you might know, for a business, four to five years is not a considerable term. Similarly, it has not been much time since the period Digitalization was made into the news. If you own a business, you must have realized that customers’ preferences have changed drastically in the past three to four.
However, in contrast to customers’ changing preferences, it has been observed that there are companies that have not yet changed their way of operating business activities by the changing interests of their customers. To understand why Digitalization has become a hot topic, let us first discuss what it 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 every person connects through the digital channels of communication. To simplify it further, a company is digitalized when it begins running its business operations on wireless business networks.
Before proceeding further, it becomes essential for all of you to understand the difference between digitizing and digitalizing. Digitize means converting the hard copy of printed documents into soft copy by scanning them clicking their photos. On the other hand, Digitalize taking the who+ business operations to digital platforms that millions of people can access simultaneously.
Why Is It Important?
Digitalization is not just limited to specific business activities like logistics, etc. Instead, 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 opposing sides of 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 more accessible and result in significantly less or no wastage while manufacturing delicate products. Digitalization is so far one of the best outcomes of technology.
Technology and Digitalization
When 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 effective platforms for businesses that wish to influence many potential customers at once.
If you have an account on social media applications like Instagram, Linked In, Connected India, etc., you must have noticed that these applications enjoy millions of users daily. These users either visit these applications for entertainment purposes or other reasons. However, recent studies have shown that out of every ten social media users, nine of them see 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 can identify people interested in the products and services being offered. 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 exciting 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. Hence, it not just builds a substantial brand value but also increases the trust in the company. Therefore, while focusing on Digitalization through social media applications, it is always advised to be responsive and treat customers like a family.
If you could name a few things that help companies reach the pinnacle of success. The first thing that might strike you is the brand value. It is evident that if a company’s brand value is good. It will enjoy a significant share in the global consumer market. Digitalization has allowed businesses to improve their brand value using various Digital platforms.
Companies are using Social Media applications, websites, and other digital platforms 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 understand the company’s nature and quality of services.
Imagine you are a new customer; positive reading reviews on the company’s website or social media platform would 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 significant points that must have explained the importance of social media applications and Digitalization. Though Social media applications are just a tiny part of Digitalization, their effect on a business’s reputation is enormous. Which is why many multinational companies prefer these applications over other forms of marketing.