The scope and importance of digital transformation for businesses is a largely accepted area of focus today. From marketing to day-to-day activities, corporations are going through a complete digital transformation. To get an optimal outcome, businesses are integrating digital transformation into every business process. There are courses from IIM which can teach you the facets of digitally transforming your business. IIM’s digital marketing program focuses on the tricks of the digital marketing trade, which can help your company’s marketing strategies stay ahead of the curve.
How to Make the Most of Digital Transformation?
Digital transformation has proved to provide major boosts to businesses. It’s necessary to replace traditional marketing methods with digital marketing channels. It tends to give you an edge over your competitors. Here are some features you must embrace to keep up with the wave of digital marketing:-
- TV advertisements should be replaced by YouTube marketing. Facebook and Instagram also work wonders in reaching a vast audience if you run your ads on those sites.
- Instead of print media, it is a good time to utilize blogs and other content marketing campaigns.
- You can build a mobile-friendly feature app.
- You can replace print brochures with downloadable brochures online.
Businesses are currently busy making the transformation to digitization, not just in marketing, but in every aspect of functioning to stay ahead of the curve. They are now using digital transformation consulting to understand the requirements and expectations of their clientele. There are courses from IIM that focus on the in-depth training in the digital transformation of businesses, like their digital marketing program.
Key Digital Marketing Trends That Will Drive The Future of Business
In today’s era, conventional marketing dictum no longer holds true. To stay relevant, marketers need to equip themselves with the digital marketing trends that are going to shape the future of modern businesses and organizations. The following are some key features that will drive the future of digital marketing:-
- AI-first Approach
According to a Forbes survey, 75 per cent of businesses using AI and machine learning are successful at increasing customer satisfaction by 10 per cent.
Artificial intelligence has brought massive benefits to the world of marketing. AI-chatbots now manage around 50 per cent of customer queries. It has been predicted that the global AI-enabled market will have scaled 2.2 billion dollars by 2024. AI-chatbots streamline personalized customer responses, which makes it much easier for companies to interact with their customers through their websites.
- The Rise of Voice Marketing
In 2020, it is recorded that 20 per cent of searches were done without a screen.
Voice assistants are the next big thing because they provide contextualized responses to customers. It is touted to the future of marketing and is opening up a range of new opportunities for marketers. A digital marketing program course from IIM is focused on equipping students with the art of transforming traditional marketing methods to digital platforms.
- Data Will Drive Key Marketing Decisions
It is said that data is the new oil. But what encompasses data-driven marketing?
Data-driven marketing relies on the use of information to make marketing choices. Information about a consumer is collected every step of the day from the time they enrol on an online platform, from their personal interactions to their demographics. This information is then analyzed to create targeted content to attract customers.
- Virtual Reality
Virtual reality marketing is going to be the next big opportunity. And you would be surprised to know that 75 percent of top global brands have already incorporated VR into their marketing strategies.
What is virtual reality? And, how does it work? It is the generalized term for any reality that places the user in another dimension. A recent and very popular example is Pokemon Go. VR technology allows customers to interact in a setting of heightened emotional intensity.
Virtual reality allows businesses to place their brand more closely to the eyes of their users.
How Digital Marketing Has Changed Business Forever
We, as a society, are now driven by technology. Companies today need to learn how to utilize digital marketing trends. The traditional customer journey has now changed. The following are some of the ways in which marketing has changed business and there is no looking back:-
- Instant Communication
According to The Economist, all single apps are now abandoned after one-time use, with instant messaging being the only exception. Facebook Messenger currently has 900 million users globally. In fact, people spend more time on messaging apps than on other social media apps. Savvy companies are now devising methods to connect with customers through more interactive methods like AI-chatbots to facilitate instantaneous communication.
- Content Overload
Almost 3.3 million people make a Facebook post every 60 seconds.
The massive content that is available on the internet has given rise to a term called content shock. In order to help your organisation stay relevant, you have to join the race of sending out content that your customers can access on the internet. Digital marketing programs, that are part of courses at IIM Raipur, equip you with the knowledge and paraphernalia required to play the content creation game.
- Data
Technology allows you to access treasure-troves of relevant information about your consumers. Companies need to be aware of how, when and why to use that data.
- A business must know which metrics are important to company success. The key to making an impact is knowing which data is relevant to you.
- You must make the right assessment regarding which customer channel is going to pay off. You must use the kind of channel that allows your customers to engage you in a meaningful way and benefit your organization.
- A company must have employees with the required analytical skills to process this data. Without in-house experts with the required knowledge base, a business cannot understand the pain points of their customers. A course from IIM on digital marketing equips you with the skills necessary for this work.
- You must create content that is personalized and customer-focused.
- Customers Now Demand Transparency
A primary expectation of customers today is to know about the companies they interact with and purchase from. Transparency is essential.
According to research by Label Insight, for businesses that are transparent with their consumers, the reward is 94 per cent customer loyalty. More customers are willing to pay for a product or service that gives the exact information about what they are paying for.
- Fosters Intimacy
Companies with social media clout turn out to have more customer loyalty. Businesses that can analyze customer data right and personalize their marketing to cater to consumer preferences have the younger generations eating out of the palm of their hands.
Personalization is a powerful tool, as customers are more likely to make a purchase if the message from a business is backed by socials.
- A New Breed of Influencers
Influencer-marketing is the latest import in the marketing industry and it has changed relationships between businesses and customers forever. It has enabled regular people to be massive influencers. Any ordinary person with a large number of followers on social media can endorse a product to be an influencer for a business or company.
For example, Coca-Cola has taken to hiring influencers to advertise for it on YouTube channels. It says that “young people are a bit bored of advertising”.
- Innovation as a Driver of Business
In today’s competitive spirit, businesses are forced to constantly do something new. Innovation has become a driving force in marketing. Stiff competition has made even multinational corporations like Google find newer ways to interact and engage with customers.
- Brands are Now More Human
Social media marketing should be at the front and centre of every business’ digital marketing strategy now. Companies have understood the necessity of getting customers to connect with and trust their products. Companies have to be at par with the current ‘cultural radar’ which is what marketing boils down to, in this day and age.
Hence, the way people conduct business has changed forever.
The Bottom Line
The basic message is that customer experience has undergone a sea change in the last decade. If companies do not take their marketing to digital channels, their efforts to engage with customers are bound to be in vain. Digital marketing program courses from IIM trains students and professionals alike in the types and mechanisms of digital marketing.
