The world we live in today is a very fascinating one. How far we have come along from living under the rock to reaching the stars is unfathomable. It is a whole different era of technology and we are all caught up in the worldwide ‘web’. The evolution of the internet has changed the face of the world and how? Today we have everything available at our fingertips. Our smartphones are our banks, calendar, a one-stop-shop, teacher, fitness guru, financial advisor, and what not. Before we understand its influence on consumers, let’s briefly know what digital technology is.
The advent of the internet has brought a surge of relief in the form of services. Digital technology is a platform that offers help, advice, service, and much more to us as consumers. It has made our lives much easier, allowing everything to be done instantly and providing immediate gratification. Social media platforms have played a vital role in understanding the consumers and building a direct relationship with them. Digital technology has branched out in every vertical of our lives, from education to healthcare, mailing to shopping, finances to entertainment et al and to define this vast tree is indefinable. Yet it is as simple as changing from traditional medium to integration of advanced methods of reaching out to the audience.
It has its pros and cons, while we always tend to see the brighter side, we cannot turn a blind eye towards the flip side. Technology today is not so difficult to access and provides an equal platform to all sectors of society, but there are still people who are unaware of its benefits. It is evolving at a rapid pace and many are yet to catch up with it. Hence, the ones who have the knowledge and information are faring better than those who do not.
Few major positive aspects of digital transformation:
Companies’ fastest way to be visible worldwide through the internet.
Easy to reach out to the relevant audience, to promote or advertise the business.
Extremely useful to gauge the current market, competitors, consumer expectations.
Creative ways to keep consumers engaged with the brand, and also helps in increasing customers through online onboarding.
Artificial intelligence and chatbots are available 24/7 to assist the consumers, which in turn generates a personalized experience.
Customers have access to digital gateways of payment, which is a huge boon to small to big businesses.
Through digital transformation, a company can be with the consumer along their journey with the organization from the very beginning.
Digital technology has revolutionized both the business landscape and the consumer experience. Today, people are often assessed based on their online behavior. At a small cost to privacy, we are constantly evaluated as consumers. Yet, it is fascinating to see what digital technology has brought to the world of business. Using various digital tools, organizations can better understand customer wants, needs, and expectations, as well as identify new opportunities in the market. This raises an important question: are businesses transforming themselves, or are customers driving businesses to transform?
consumers grow
As consumers grow smarter, businesses worldwide rely on digitalization, as it can make or break a deal. From the very beginning, people judge an organization by its digital presence. Digitally conscious buyers expect a more personalized customer experience and want organizations to understand their individual wants and needs. They also want organizations to notify them regularly, which helps retain them. People judge and review any products launched nowadays within a fraction of a second, sometimes even before the products are officially released. The digital world influences consumers like wildfire, spreading every second. Consumers today gain deeper knowledge about brand values and products through websites and social media platforms. Buyers can return and replace products at their convenience.
The last few months of the pandemic have been a testament to how prudent it is for businesses to transform themselves digitally. Directly or indirectly technology has been the consumer backbone, be it in terms of tracking of health records or the AI playing a significant role in coming up with a vaccine. Thanks to digital technology, customers were able to get in touch with the health care, e-commerce, government sectors, etc digitally and seek help. It is becoming evident by the day that consumers are dependent on digital technology but they are also the driving force for the transformation. We can say that, although digital technology does not always provide a pleasant customer experience, it largely delivers a positive and personalized experience.
