Covid-19 delivered catastrophic blows to almost every facet of the business world. While the pandemic became a catalyst of innovation for some organizations, it was a wake-up call for others—especially those with missing or immature digital transformation initiatives.
Copyright: forbes.com – “Digital Transformation: How To Future-Proof Your Business”
The pivotal role of digital transformation was underscored further during the first few months of the crisis. Businesses grappling with revenue losses and subsequent layoffs managed to keep afloat with the help of technology. Fast forward to 2022: Digital transformation is still the priority of executives looking to future-proof their businesses. And with technology trends like AI-powered automation and the wider availability of 5G, transformation initiatives are spurred by a slew of different reasons.
Improve Customer Experience And Engagement
We live in an age of digital immediacy. Customers want the best possible experiences offered through digital channels as fast as possible. To meet the rapid rise in customer expectations, forward-thinking businesses looked at digital transformation for solutions.
According to one study, boosting customer experience and engagement remains the top goal driving digital transformation. During the onslaught of the crisis, governments all over the world imposed lockdowns, which increased the demand for online shopping and delivery services.
One report reveals that online retail sales’ share in total retail sales increased from 16% to 19% in 2020. Businesses that were quick to adapt accelerated their digital adoption, leveraging e-commerce, data analytics and automation tools. These digital leaders were able to maintain, if not elevate, customer satisfaction.
So, how can your businesses do the same?
Keep Customers In The Loop
As the future remains uncertain, no one knows when we’ll return to “normal”—if we ever will. For this reason, it’s crucial for businesses to think of innovative ways to stay connected with their customers. For example, service businesses may have to implement a skeletal workforce if the government announces restrictions anew, which would require technology to send updates and alerts as a means of managing customer expectations.
Analyze Customer Behavior
There are several insights you can gather from analyzing customer behavior data. By utilizing technology like AI, you can learn a lot about what customers want, how they want it and their bottlenecks. While behavioral analytics takes time and money, it’s usually worth it since it enables data-driven decisions that will elevate the customer experience.[…]
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