The whole world has experienced a massive outbreak. With the COVID-19 epidemic, it’s taking the wheels of how everything works. The existing market has forced some businesses to change for good. The fragments of traditional marketing and sales have changed dramatically. Also, it has forced a wide range of industries to adapt.
The demand to change each growth aspect has turned inevitable. Businesses now need to rethink their plans in order to extract growth from ongoing budgets. They should also confront the challenge of accomplishing growth objectives in this crisis. Businesses must have to keep the lights on for current consumers.
Digital transformation, i.e. digitization of business processes and workflows, will help. Businesses can minimize the cost to serve, streamline sales, and personalize users’ journey using digital transformation consulting services. As per a PWC survey, a third of clients prefer a digital encounter as an authorizer for running a business with a brand.
If implemented correctly, digital transformation will be an essential authorizer of growth.
Reduced Cost To Serve (CTS)
As the whole world turns digital, there is a huge boost in consumers who choose digital interaction. This enables businesses to discover new ways to provide the same experience as offline. A web portal, Google listing, or email will not be adequate. CTS or True Cost to Serve savings come from minimizing dependency on service and support staff. It will also help increase digital consumer accessibility.
Key Benefits of CTS exist in three areas:
- Consumer Communication Management
- Product Access and Delivery
- Payment & Invoicing
AI or artificial intelligence like chatbots will deliver reliable customer interaction at a reasonable cost. Consumers will get responses to most FAQs immediately. Also, the State of Global Customer Service Report demonstrates that self-service is the initial alternative chosen by 66% of clients. Moreover, the chatbots act as a robust self-service tool. To build your own chatbot application, approach an artificial intelligence consulting company that can address your needs.
With the right chatbot development approach, businesses can reap numerous advantages offered by AI. Below are some of the most striking business uses of chatbots.
Answer Queries
It consists of location details, order status, event schedule, and novel product queries.
Discover Products
Here, you can find products immediately. You can make personalized suggestions and new product recommendations.
Process Refunds
You can request to refund or change of product or services as per your need.
Collect Customer Feedback
You will receive your customer feedback and inputs on your products.
Know Shipping Status
You can easily track your shipment and the timing of stores open or close.
Also, you can reduce CTS by having a self-service portal. The portal must have a feature like payments, invoicing, tracking, and product accessibility. A consumer portal can be a primary resource and can reduce dependency on offline resources and physical staff.
Transformation of the Sales & Marketing Process
Sales and marketing digital transformation also get confused with email marketing, digital marketing services, or social media. Transformation is extremely bigger than integrating digital marketing tools.
There are five most important elements of sales and marketing transformation:
- Operational Model
How will you plan to perform sales and marketing in the future? How will you be able to scale up? How will the business appear in terms of people, structure, and location?
- Abilities
What abilities you are holding i.e. new vs existing (i.e. lead generation, client management, and so on)
- Compliance & Data Structure
How will the data be accessed and structured? What kind of data will be included? What type of data sources are accessible? How will you manage data privacy, security, and compliance?
- Measurement
How will you access the accomplishment of sales and marketing initiatives? Where will the key performance indicators live? How will you assess the measurement?
- Platforms
What kind of platform can deliver the features? Will the platforms be SAAS or on-premise?
If you want to transform your marketing and sales, you must prioritize the digital utilization across the five departments specified above.
Customer Engagement through Hyper-Personalization
As technology evolves, various clients, still not able to surpass the human components of their purchase process. They are always open to adapt a digital interaction as long as there is an enhanced level of personalization. PwC stated that around 63% of clients will share more data with an organization that provides a personalized experience.
There are three primary areas to deliver hyper-personalization:
- Segmentation
Knowing your clients is the initial step in the process of delivering personalized content. Businesses should assess and categorize consumers based on behaviour demographic info and geographic areas
2. Recommendations
Lining up consumer requirements with the right product, services, and serving those recommendations, needs process, system, and technology. The market tech landscape is filled alongside technologies that use AI development to provide content.
3. Loyalty Program Customization
Personalization doesn’t have to end when you gain clients. It increases throughout the whole life of the consumer incorporating loyalty. Businesses that depend on one-size-fits-all loyalty processes are at risk of losing potential clients.
Loyalty customization begins with thoroughly knowing your client’s interest and supporting it with loyalty benefits (incentives). The loyalty incentives should also increase beyond your app or website. So, clients can earn and redeem rewards in-store as well as social media channels.
Conclusion
By using the above methodologies, businesses can use digital transformation to acquire new clients, increase ROI, and boost growth, among other things. If you want to boost your business using digital transformation strategies, OrangeMantra is here to help you. As a globally trusted digital transformation services provider, we have helped numerous businesses to increase their customer base, improve workflow management, and accelerate sales. We have an experienced team that can help you create a concrete strategy to enhance your business productivity and profit.
FAQs
What do you mean by digital transformation?
Digital transformation is an integration of digital technology in every business area. This can usually change how you run and provide value to the clients. It is additionally a cultural change that needs businesses to regularly challenge experiment, status quo, and get comfortable alongside failure.
What is CTS?
It is a process that helps businesses to recognize the total cost of servicing its clients at an individual consumer and product level. The total cost means all the costs incorporated in a product’s value chain.
How OrangeMantra can help build digital products?
At OrangeMantra, we have a team of professional developers who can deliver top-notch digital products according to your client needs. Our experts have years of experience and knowledge in delivering high-end digital applications and websites. We have delivered more than 100 successful projects to our clients across the world. Our developers will listen to your idea and start working on your project from scratch.
