The advent of internet and its widespread penetration means that the world has shrunk into an interconnected community.
As per international world stats, there are over 4.1 billion users active on internet and they are still growing. The rising digital users are increasingly shaping the economic activity on the planet.
The high levels of interconnectivity means that digital technologies are now playing pivotal role in trade and business. It is shaping the way businesses and society operate today.
Consequently, companies are looking at digital technologies for tapping into the internet users, tapping new opportunities for reaching mass scale and global impact.
Here we explore how digital buyers are impacting business:
1. Digital Marketing :
No one likes interruptions. The top businesses are looking for the most effective ways to reach their customers.
Digital marketing has become one of the most important ways to connect with the customers today. The best brands are creating great content and helping their targeted audience.
Many of these digital marketing campaigns leverage locations, context, demographics of users to improve marketing campaigns and ensure top ROI for their business.
2. Mobile Applications :
More than two-thirds of the world’s population has a mobile phone, with majority of them using a smartphone. There are more users who prefer mobiles for accessing internet than any other medium.
Businesses are looking at ways to create engaging mobile apps to woo the users. Companies are looking to launch core products and services that can be accessed on mobile phones for their customers.
Digital businesses are bringing together physical and digital worlds using mobility solutions.
3. Social Media Channels :
There are 3.3 billion social media users as of 2018. Businesses are using the social media data for personalised products & services to users based on their preferences, demographics like gender, income, age and location etc.
By using the data from the social media channels, businesses are obtaining higher ROI for their marketing campaigns.
The social media is also providing a platform for businesses to interact with their target groups get their feedback and inputs.
Customer support & service channels are also becoming quite popular on social media due to interactive and instant feedback.
4. Instant Communication :
With increase of digital users, businesses are looking at ways to communicate instantly. For e.g. service providers are now engaging with users on chat based messenger tools, they are also using these for orders and payments etc.
With the help of chatbots and other messenger based applications customer can easily connect with companies. These applications make interactions with customer instantaneous and interactive.
5. Comparison Engines :
There are more than 1.79 billion digital buyers today. Most of the purchasing is initiated with an online search about the products, services, features, pricing and other criterion.
Comparison Engine is a vertical search engine that allows buyers to filter and compare products based on their needs.
Companies with good web presence are highly likely to attract more opportunities from buyers around the world. Comparison engines will also work along with leading suppliers and vendors to generate leads for them.
6. Custom E-Commerce Portals :
Digital buyers are looking for convenience. They want everything online.
As per statista, the 2017 retail e-commerce sales worldwide amounted to 2.3 trillion US dollars. The retail sales is expected to double within the next three years.
A customised ecommerce portal can help businesses to launch their products and services for the digital users.
Companies are looking at ways to optimise their inventory, organise business and scale up sales using demand driven ecommerce portals.
Even traditional businesses like car manufacturers, restaurants, travel companies are offering subscription based services for tapping into digital customers. Digitisation is helping companies to create subscription based models for their traditional products & services.
7. Location Based Searches :
Google found that 76% of people who search on their smartphones for something nearby visit the business within a day.
The location based searches are on the rise with smartphones GPS and navigation based functionality. Businesses are doing their best to not only sell their products and services, but also build communities of followers using the digital world.
Kreyon Systems is helping businesses across the globe to create scalable digital products and services to reach wider audience for businesses. If you are looking for an offshore software company for building great software products, please get in touch with us.