Gautam Raj

Digitalization-Are you ready to take the fast lane?

Tech Stories

Digitalization, since its advent, has taken the world by storm. Everyone was on the lookout for the holy grail of digital transformation. It became a way of life for conventional and new businesses, fuelled by key technological advances encapsulated in clever acronyms like SMAC (Social Media, Mobile Devices, Analytics, and Cloud), ensuring that everyone was on the same page.

Then struck the epidemic, and the digital channels became the most critical element of your business practically overnight. Business continuity was dependent on them, and it didn’t matter if they were B2B or B2C as long as they kept you in business.

This complete shift to a ‘new normal’ of doing business remotely – working, selling, communicating with clients, and growing – has focused attention on parts of your digital channels that you may not have considered before. User Experience (UX) and User Interface (UI) of your software platforms, websites, and applications, which are all part of the Customer Experience (CX), have suddenly become business important.

Since everyone, including your competitors, uses digital channels as their primary means of commercial engagement, the focus has shifted from SMACs towards ensuring that your CX attracts and retains more customers than your competitors. 

But how do you determine if your customer experience strategy is working?

This is where data analytics comes into play. All the efforts you put to enable and utilize “big data” to figure out who and where your consumers were may now be applied to figuring out what they want – and giving it to them.

Data Analytics & Personalization-The Key to Customer Engagement

You can, for example, examine what works and what doesn’t for specific clients using analytics in conjunction with your digital channels.

You may then engage your clients directly with creative efforts such as one-to-one marketing, understanding and matching their tastes, and adapting your products and services accordingly. Personalization is the new standard. If you get it right, you will gain loyalty in addition to customer retention in a volatile digital world. 

Many organizations are employing advanced analytics now that they have finished the first few phases of their digital transformation initiatives and are moving on to the last frontier — confronting the data and analytics systems and processes required to fully change. But what precisely does that mean?

It signifies that the analog-to-digital conversions are finished. It also implies that traditional IT infrastructures have been altered to be more efficient and service-oriented, with applications now utilizing cloud technologies and operating models. This leaves the data and analytics components, from which value can still be derived and exploited.

How does it work?

For example, a bank can go entirely digital and deliver all of its services online, but an insurance business may recognize that consumers still want that personal touch, to speak with an advisor (rather than a bot), and to be steered toward making the appropriate decisions. Alternatively, you may discover that different demographic segments prefer distinct experiences. Can you live up to such expectations? Should you satisfy such standards?

Analytics tells you what’s most important to your customers, what they find useful, and what they don’t. Optimizing the customer experience through digital channels, while managing the changes that come along with it, is a big part of successfully navigating your business into the new normal.

Closing Thoughts

During the pandemic, digitization has proven its worth, with more technologically developed organizations proving resilient in the face of severe disruption. The rate of digital adoption has accelerated dramatically. Consider it like being on a highway: you must choose your lane and select how to safely navigate the route, as well as be equally attentive to unforeseen changes as they occur while you’re rushing to your destination.

Businesses will need to adjust to the post-pandemic scenario in the future, as widespread hybrid working alters how staff and customers interact. Rather than reacting to circumstances, businesses will require precise roadmaps outlining how they will digitize their business processes to meet present and future objectives.

Are you ready to take the fast lane? There is no better moment than the present.

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