Top 5 Benefits of Digitization
Businesses are facing increasingly tough times as digitization reshapes the landscape. Industries are experiencing moderate to massive digital disruption. Digitization should not be perceived as a threat, but as an opportunity to rebuild market standing, re-creating processes, and offerings for customers. Research shows presently that most industry CXOs consider digitization to be one of their top priorities. However, the ground reality is that only a few businesses are truly capturing the full digitization potential.
Let’s take a look at the top benefits arising out of digitization which pave the way for digital transformation:
1. Digitizing customer data
Every business operating today has access to arguably the deepest and richest insights into the customers’ behavior and usages. Having business transformation potential, the data and the derived insights can be put to diverse uses, leading to the maximization of top-line and bottom-line revenues. Adopt automation and analytics tools to transform data into meaningful decisions. Amongst popular digital marketing tools like Marketo, Hubspot, etc., moLotus stands out with advanced data curating and analytics features, making data mining, management, and analysis a cakewalk for you. Your campaign data can be compiled into crisp and comprehensive reports, enabling you to decide upon and strategize further.
2. Digitizing advertising & promotions
The future of advertising is digital and businesses should take a leaf from this. Hence, the focus should be more on reaching out to customers directly using digital advertising platforms. Smartphone penetration has further shifted the focus to mobile advertising platforms. Brands have been riding on a few mobile ad platforms like TubeMogul, InMobi, Airpush, etc. One such mobile advertising platform with powerful capabilities of running highly personalized, customized, and targeted rich media ads is moLotus. The ads are delivered directly to the mobile inbox of the customer. Unlike other ad platforms, moLotus is spam-free and the ads have a longer shelf life as they remain in the inbox until the customer manually deletes them. Businesses should consider using real-time data of individual customers for executing personalized promo campaigns along the entire customer journey.
3. Digitizing sales processes
Digital sales processes are becoming less expensive, more prevalent, and increasingly preferred by the next generation customers. Digitizing the sales process does not mean replacing people with technology. Rather, it is the implementation of digital tools that will allow brands to utilize their people more efficiently. Via digital automation platforms, businesses get the opportunity of showcasing best offers, product comparisons, and availability checks to customers thereby inducing sales. Non-app platforms like moLotus are being used by top brands to run sales campaigns because of their high conversion rates.
4. Digitizing customer support & feedback
If trends are considered, convenience and speed are topping the consumer agenda. Engage this convenience and speed-driven consumer with a digitized support system. Moving from traditional customer support to digitized service can be viewed as a key driver for business transformation. Customers prefer digital service, with 76 percent of customers satisfied with digital-only journeys, compared with 57 percent for traditional channels. (Source: McKinsey Report).
Prepare for more live chat and co-browsing that supports customers during the buying process and post buying support. Live chat platforms like ZenDesk Chat, LiveChat, and acquire.io are convenient for web-browsing customers. Interestingly, the moLotus platform has revolutionized the way brands can serve their customers. ‘Rate-it’ capability of moLotus guarantees real-time customer ratings and feedback for different service issues enabling them to analyze and improve upon.
5. Cost minimization
Digitization offers cost minimization opportunities by automating the “low touch” business processes. For instance, businesses now can cut costs by reducing headcounts in call center processes. They have an opportunity to use advanced tools for the purpose. Unleash the cost-cutting potential of moLotus and bring down headcounts significantly together and reducing printing & stationery costs by automating the processes.
The way forward
Make no mistake: Brands are already reaping the benefits of digitization. Process automation platforms like moLotus are enhancing efficiency and customer engagement; helping businesses to stand out from the cut-throat competition with instant revenue. Through digitization, you can turn your payoff into a windfall — and lead yourself, your customers, and the entire industry forward.
