The Digital Era...

Digitizing the businesses…

Last few decades, world has seen the dramatic changes in technology and mainly digital media. New concept of internet based digital marketing got popular among business firms. Now, organizations rely more on digital marketing compared to other forms of marketing. Traditionally, adverts on Television, radio, phone (SMS) etc. were considered digital marketing but the whole idea has been transformed with the rise of modern digital marketing. The modern digital marketing is based on the technologies like social media, SEO, websites, search engines etc. The rise of social media like Facebook, Twitter, LinkedIn, Whatsapp, Viber and many more has become viral and it made people easier to connect with friends, family, consumers, business houses etc. The online business firms like amazon, ebay, alibaba and others have changed the way of shopping. The numbers of online shoppers are increasing sustainably. People enjoy indoor shopping experience less as they lean on online shopping.   The gathering of family, friends and relatives are limited to social media. Likewise, there is a generation, mainly in developing nations which is stitched to play stations most of the time. Therefore, it is difficult to predict where the world is heading with reference to such a pace of technological advancement. No doubt world will see many unbelievable.  

Business organizations, if not transform and adopt the digital process, will not survive anymore. Digitizing is a process of improvement and getting efficient every day. Only adopting a technology does not make a company efficient because they have to quickly adopt with the changes. Else, you won't know when your competitor got better than you.

How digitization helps the organization?

Quick delivery

Going digital will help companies to deliver products and services promptly. The process from customer placing an order to receiving the product/services and obtaining feedbacks will shorten by going digital. There are many companies like DHL, UPS, amazon, ebay etc. that have shorten their delivery time to higher extent through digitizing the processes.

Reaching customers

Now, it has become easier to reach the customers directly through social media. Similarly, the companies have started maintaining database of their existing and potential customers, so that they can inform about products and services via email, youtube recommendation, alert messages, social media adverts in personal pages etc.

Business growth

With the explosion in technology, the horizon of business firm has increased. For instance, a local business can go online to market its products. It can even sell through internet. This means the market is no more local.

Depict the best it can offer

Consumers have become more aware than ever. They can compare the prices, quality and service offered by the companies via internet. This will help genuine organizations to reach the potential customer with their compared competitive advantages. In airline industry customers can compare the fares and services through different websites to decide which airline to travel with.

The other side

With so many good things, digitizing has brought many challenges and draw backs. The major drawback is privacy. Protecting privacy of people has been difficult due to hackers and other cybercrimes. The stolen data is often misused and has created huge loss to the organizations. At times, the data is sold to the organizations so that they can reach the customers easily in personalized way. For example, a university can sell the students database to many companies like telephone, retail etc. This is against the privacy act. Even more perilous would be to sell data to criminal organizations.

Similarly, people often receive email alerts or recommendations which are unwanted and can be annoying. It is sometimes done by companies themselves as a push selling strategy or by the cyber criminals to damage the reputation of the company.

What to expect next…

Virtual real-time visit of a retail shop along with virtual trial, order placement and receiving within an hour

Extinction of hard cash

Virtual banks (no need to visit banks ever)

And, many others unimaginable developments…

Summing up

Everything comes with the price to pay. However, with the digitizing trend speeding so fast we can just assume that things won't be same even after a short span of time. Resistance to change will not be an option. The way of doing business will change every day and companies able to move along the changes will certainly succeed because change is the only thing constant in this world.