We cannot deny the impact of digital technologies on the way people interact, work, buy and live their lives. These technologies are ingrained in almost every aspect of society. This fact alone makes it imperative that companies take advantage of the digital universe to maximise their brand awareness and marketing goals.
Marketing funnels influence the actions prospects take down their journey before making a purchase. Businesses used to produce marketing material, cross their fingers, and hope for the best before digital marketing. Potential customers could only be reached if a salesperson was present.
As a result of digital transformation, businesses have more control because they have access to two essential tools.
- Multi-stage interactivity; and
- Analytics
Personalised content can be delivered at the right time by digital marketers. By combining interactivity and analytics, marketers can determine exactly what customers are doing and how they behave.
It’s worth it
According to Forbes: "digital transformation can improve stock prices and revenue in the long run". It took Microsoft five years to complete its digital transformation, and the stock price of the company increased 258% in that time. Compare this with Nike's two-year transformation with a 69% stock price increase.
What would happen if your company made just one digital adjustment? How would this change how you deliver your product, how your employees accomplish their work, and how you assist your clients? Thanks to digital technology advancements, Netflix's move from a DVD mail-order business to a streaming service was a success.
There are three main reasons for the company's success:
- The advancement of streaming capabilities accelerated Netflix's transition to becoming a streaming-only service.
- Thanks to smartphones, tablets and smart TVs, the streaming service is always on for its customers.
- Netflix's advanced value proposition has led to a change in viewing tastes.
What this means for you
Your business can take full advantage of customers at every touchpoint of the customer experience by embracing digital transformation. By digitising your business, you can:
- Improve buyer engagement by harnessing your customer networks and reinventing the buyer's journey based on their real behaviours.
- Develop platforms that deliver a competitive advantage.
- Transform incoming data into real-time assets.
- Become more innovative by experimenting quickly.
- Identify market gaps.
By integrating technology into its daily business operations, McDonald's has changed the way its food is delivered. McDonald's added digital kiosks to its stores, for example. Every time a customer engages with a brand, they expect a seamless, digital experience. McDonald's recognises the importance of investing in a digital strategy to provide the right support and enhance the customer's digital experience.
Ongoing digital marketing is the way to go
A digital system can't just be plugged in and left alone. Imagine if the early digital innovators stopped evolving, reached their peak of digital excellence, and were satisfied. They would have gone out of business decades ago. This doesn’t mean you should just put content out there with no strategy behind it. Content must guide your efforts and back your every move.
You must improve your digital marketing engine to maintain a digital presence and see ROI. In a constantly changing digital world, stalling at any point can cause your business to fall behind. Remember Nokia? It became unwilling to change its approach because it became complacent with its success. Nokia's competitors were able to catch up and surpass it.
Stay on top of the latest marketing trends and experiment with new software and tools if you want to keep your brand at the forefront of digital. Let us support your digital marketing.
