How Digital Transformation is Shaping Industries

Nowadays, we live in a primarily digital world. Almost everything has transferred online or became digitized these days. The fact of the matter is that technological innovations and advancements are disrupting industries left and right. Simply put, modern technology is forcing industries to take on a new approach, in order to remain relevant in the market, as well as remain efficient. However, technology isn’t the only reason industries must consider a digital approach.

As a matter of fact, it’s the consumers and their purchasing habits and behavior, as well as their tendency to follow the latest trends that also forces industries to adapt. If you don’t adapt, in order to meet consumer expectations and needs, your competitors will most definitely outrun you. Companies across various industries must simply develop a more consumer-centric solution, in order to continue providing a seamless customer experience. That being said, here are a few ways how digital transformation is shaping industries.

Chasing a competitive advantage

Newest innovations on the market are always regarded by companies as an opportunity to outrun competitors. The main reason so many companies across various industries are prioritizing digitalization is that it may allow them to gain a competitive advantage. It only takes a single business to disrupt an entire industry and drastically change the rules simply by adopting a new technology or developing a new approach.

That’s why most companies are in one way or another prioritizing digitalization. As a matter of fact, 47% of company CEOs stated that they are being pushed towards adopting a digital approach for their business by their board of directors while 56% stated that their business digitalization efforts are already increasing company profits. In essence, while some companies are considering digitalization others are already implementing new strategies and approaches. In other words, the digital transformation is bound to happen across various industries sooner or later.

Improving efficiency

The fact that every industry is about to experience a digital transformation is evident. Even the industries that are less likely to consider digitalization, such as oil and gas sector are in fact, doing so. Resource exploration industry has so far avoided digitalization but even they have to adapt to modern trends and innovations. The main reason is that a digital approach enables the oil and gas sector to improve efficiency, reduce operational costs and streamline entire processes, among other things.

That being said, oil extraction professionals that are keeping up with the latest technology have implemented an ecommerce solution. As a matter of fact, reliable oilfield equipment zone essentials can be easily bought and acquired online, thus reducing the downtime and maintenance costs for mission-critical equipment on the field. Not only that but artificial intelligence and automation are also making their way into the resource exploration industry, helping operators streamline the processes of detection and exploitation of natural resources.

Meeting consumer demands

As mentioned before, consumer habits are oftentimes one of the main reasons why industries and companies develop a new approach. After all, if you’re not relevant to your customers you will lose a battle to your competitors. Consumer demand for increased and improved connectivity, as well as their increasing interest in smart devices and IoT (Internet of Things), has already made an impact on various businesses ranging from retail to ecommerce and so on. These demands have made their way even to the automotive industry.

Nowadays, one of the rising trends in this industry is self-driving and highly connected vehicles. Therefore, the cars of the future won’t be able to fly anytime soon but they will surely be able to drive themselves. Vehicle manufacturers and sales dealerships are also adopting a digital approach for their consumers. As a matter of fact, 75% of consumers who are interested in buying a vehicle will conduct their research online. Moreover, a digital approach in the automotive industry is also there to serve new consumer needs, especially since 56% of millennials would rather avoid interacting with salespeople in person.

Reshaping the logistics

The distribution and logistics industry is also experiencing vast changes due to the digital transformation. Logistics and distribution providers are practically being forced to adopt a new approach because their clients are doing so as well. For example, retail and ecommerce sectors are leveraging the newest technology to its fullest potential, thus making numerous promises to their customers, such as next-day or even same-day delivery, in order to boost customer experience. Also, manufacturers in the automotive industry want materials delivered at the right time for production, in order to avoid having to store materials around.

These demands force distribution and logistics providers to step up their game and deliver on their clients’ expectations. Even though logistic providers aren’t part of major brands per se, they still feel responsible for representing those brands through their services. Therefore, as manufacturers and retailers implement their digital approaches, distribution and logistics providers must become an extension of their clients’ brands, in order to remain competitive and relevant.

The world is already reshaped by the digital era and it continues to be transformed. As technology continues to advance, the increasing need for new solutions challenges various industries. Even the industries that are reluctant to transform will eventually have to do so. That is if they wish to remain successful and competitive in the market.

Guest author, Raul Harman, is a B.Sc. in Innovative entrepreneurship and has a lot to say about innovations in all aspects of digital technology and online marketing. While he’s not enjoying football and great food, you can find him on Technivorz.com

Does Your App Score Points with Consumers?

Assuming you have a mobile business app, would you rate it a success up to now?

Many small businesses thinking of going the app route for one reason or another end up not doing it. As a result, they can be missing out on opportunities to sell their brand.

If you’ve decided to move forward with a mobile app, where will you begin?

Making Sure You Get Good Reviews

Whether only starting out with an app or you’ve had one around for a while now, you want to make sure it gets good reviews.

With that in mind, know that there are companies out there whose sole job is to review business apps on a daily basis. As such, you’d want to get a good review, correct?

Whether getting a Bismanonline app review or from other companies, here’s why good ones are key:

  1. Brand notoriety – While you never want to stand out for the wrong reason, notoriety for the right ones is big. That said a strong mobile app game is important for your brands success. Having that recognition can not only help you keep business, but also land new customers.
  2. Customer experience – Good reviews help build a better customer experience. If a consumer has your app at or near the top of their phone, there’s a good chance you’re going to do regular business. Although many still shop online via desktop or laptop computers, more go the mobile route. As such, you want to make sure they have the best customer experience possible each time out.
  3. Socialize the process – With a mobile app, make sure your business is as social as can be. Instagram, Facebook, Twitter and other such sites are important to promoting your brand. Your app can offer relevant industry content, coupons, and of course consumer feedback. With a solid social media game on your app, reviewers will be apt to give you the thumbs up.
  4. Staying ahead – Last, you want positive reviews to stay ahead of the competition. Remember, most competitors will always be looking for ways to upstage you. As a result, you can’t assume they are not investing much time and money into their apps. The chances are they have in fact been investing time and dollars towards their apps (see more below).

Did You Design the Best Possible App?

Whether you did your mobile app in-house or reached out for help, did you come up with a good one?

In the event you are not happy with the current app for your small business, don’t settle for mediocrity.

Take the time and money if necessary to do better. When you do, your mobile app should garner more interest from consumers.

Last, don’t be afraid to see what competitors have done with their apps.

Never copy them down to the last detail. That said don’t be afraid to look at their ideas and how you could put in place one or more in your own manner.

If your app is not scoring points with consumers, it is time to restart the game.

About the Author: Dave Thomas writes about business topics on the web.

 

 

Mobile Marketing is Your Business

With mobile devices becoming an increasingly popular means of communication, it makes sense that companies in the finance industry are stepping up their investments in mobile marketing.

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An IBM study revealed that 45 percent of industry players in financial markets were already implementing mobile technology in 2013.

As such, businesses need to incorporate mobile into their marketing strategies if they want to maintain their competitive edge.

Here is a look at why financial companies should consider adopting mobile marketing….

5 Reasons to Implement Mobile Marketing

Reach Out to More Consumers

According to research conducted by Pew Internet Project, about 90 percent of adults in the United States owned a mobile phone as of January, 2014.

An increasing number of mobile users are using their devices to search for products and services, and engage with brands. Financial companies can take advantage of this trend by adopting mobile marketing.

Mobile marketing enables them to make their brands visible to a much larger number of people and gives them round-the-clock access to their target consumers. This form of marketing can be done in a number of ways, including mobile apps, mobile banner ads and text messaging.

Text messaging has become one of the most preferred marketing mediums in recent years, because of its high open and response rates.

In an article entitled “5 Reasons Mobile is Right for the Finance Industry“, it is said that 90 to 95 percent of text messages are viewed within minutes of delivery.

Reach Consumers at the Right Time

Most mobile users keep their devices with them everywhere they go.

As such, financial companies that need to send time-sensitive marketing messages, such as notifications of product launches or special offers, can rest assured that their messages will reach the intended recipients with little or no delay.

Mobile marketing is the only form of marketing that offers this “always on” advantage.

Develop Closer Relationships with Customers

Since many mobile users are very attached to their devices, they may perceive mobile marketing as a friendly or intimate form of marketing.

As such, they may be more willing to interact and establish personal relationships with financial companies that reach out to them via mobile.

Regular engagement with customers can result in higher conversions rates, increased customer loyalty and more repeat business.

Gain a Better Understanding of Consumers

Another benefit of mobile marketing is that it can help financial companies gather a wide range of information about their target consumers.

Such information can be turned into useful insights that can lead to better strategizing and decision-making. By gaining a better understanding of the preferences and habits of consumers, they can make improvements to their products and marketing strategies to achieve better results.

Reduces Marketing Costs

Mobile marketing enables financial companies to reach more consumers at a lower cost.

It typically costs just a fraction of the cost of television or radio advertising. Companies that use text message marketing can get a bulk SMS package that allows them to send thousands of messages a month for a low fee.

Mobile marketing is not only an effective marketing method for financial companies; it can also do wonders for businesses in other industries.

It is the key to standing out in today’s crowded business world.

About the Author: John McMalcolm is a freelance writer who writes on a wide range of subjects, from social media marketing to Cloud computing.