Are you on your way to digital transformation?
In the past 10 years, there has been a paradigm shift in the way businesses function. From being confined to a single location to creating virtual presence globally, there has been massive evolution in the way business processes are being carried out.
This evolution is not sudden. It was gradual but now the pace has increased manifold. And one thing that powered this evolution is ‘digital transformation’.
Digital transformation has changed the way you do business. It has paved the path to innovation, growth, and easy discovery of new business opportunities.
Today, most of the businesses are in the process of digital transformation. There are very few companies who are up to date with digitization. Or businesses that haven’t started doing it at all. Most of them are somewhere mid-way.
Having said this, the three most important business functions that can’t do without being digitally transformed are ‘Sales’, ‘Marketing’, and ‘Customer Service’. If you don’t do it now, I’m afraid you won’t thrive, or even survive in the coming years.
What is Digital Transformation?
Digital transformation is the integration of digital technologies and intelligent data into all spheres of a business. It is much more than just technology. It is a process of transforming the whole organization to become more agile and deliver stellar results.
The most interesting aspect of this digital transformation is, it’s not the companies that are driving it, the whole transformation is being triggered and driven by the customers. You can’t simply get away from it while doing nothing. It’ll cost you, your customers and eventually business profits.
So, let’s now understand how digital transformation is impacting your business and the ways for you to thrive while digitization is on it’s way to rule the world.
How digital transformation is impacting sales and marketing?
When you say the term ‘sales’, there are two processes that come instantly to our mind. First, the way we approach new prospects to sell our products. And second, the process that is followed to convert existing prospects into customers. The first process is driven by marketing the product or service you’re dealing in. So, sales and marketing always go hand in hand. And hence, digitization of both sales and marketing processes also happens simultaneously.
Let’s begin by discussing the first step of sales, that is marketing. Digital transformation has changed the way we attract new prospects or leads.
1. Social selling and Personalization:
Cold calling doesn’t work anymore. Even you, as a customer, do not answer calls that are detected as ‘spam’. And the same goes for your business.
Social selling is the art of using social media to find, connect with, understand, and nurture sales prospects. It helps you develop meaningful relations with your potential customers beforehand. This makes your company the go-to brand whenever they are ready to buy
2. Access to instant accurate data:
Marketing no longer works on assumptions. There’s data for each and every marketing activity you carry out. There’s always an option for A/B testing to see which marketing channel, or marketing campaign works best for you.
Analytics and user insight on every marketing platform helps you understand the ROI of your marketing campaign, and the way your prospects are interacting with your advertisement or website.
3. Interactivity is changing marketing:
Digital transformation has a huge unprecedented effect on interactivity. Unlike traditional media, TV advertisement, radio ads and other offline modes, digitization of marketing has opened options for businesses to interact with the customers. And even let them choose the way customers want to interact.
With live streaming, live ads, and webinar, your potential customers actually get a chance to interact with you or an influencer from your industry.
4. More marketing budget for online advertising:
This is one thing that goes without saying. It’s not that banner ads or TV ads have died. They are still working today for companies with that set of target audience. What worth emphasizing is, online advertising has to be done no matter what other channels you already are promoting on.
Online advertising has far more influence, reach and conversions. Even the ROI can be accurately calculated. And you can’t compromise it by giving it less weight-age in your marketing budget.
5. Plethora of options for customers:
Customers are more aware then they ever were. Google has made it super easy to search about any product they want to buy. They can see you and competitors, analyze both the products, and even make their decisions just within a few clicks. This is a direct effect of increased penetration of smartphones. In a way, this has increased your reach ability but has also raised the bar you needed to set earlier.
Digital transformation has compelled you to make your marketing and customer journey personalized and appealing. To tackle such challenges, there’s a lot of solutions in the market out there. You can easily deliver personalized customer journeys powered by the intelligent marketing platform for email, mobile, social, digital advertising, and data management. Salesforce marketing cloud is one such platform that helps you smoothly sail through the process of marketing digitization.
Now, coming to the second step of the sales process, that is nurturing and winning a deal. Let’s term this as core sales. The process of carrying out core sales is an internal process of every organization. A customer may not see it directly but the efficiency with which your business handles prospects and carry out sales, says it all. An automated sales process is far more efficient and quick in building up personalized conversation and responding to customer queries.
So, let’s know further how digital transformation is impacting the sales process.
1. Access to data at every step of sales funnel:
Now, you and your sales team have better access to data and information. Now, you can easily make your team work in collaboration with complete transparency.
Furthermore, you no longer have to go with your gut feeling to do sales. There’s a number for everything. By mining the accurate data patterns, tying that back to relevant news, and matching it with tribal knowledge within the sales team, gives you a competitive advantage.
2. Automated sales software:
Earlier manual tasks like making appointments with clients, sending personalized emails, making invoices took a lot of time and efforts of sales agents. These tasks deviated them from the main thing they were employed for, that is sales.Automated software does these tasks automatically.
Also, sales supervisors can access the latest information of their employees, like success rates, customer complaints, and other data used to determine sales indicators. This information is generated in real time and allows area managers to make decisions or make quick adjustments, optimizing procedures.
3.Cloud-based CRM software:
CRM software helps you effectively manage your relationship with the customer. It integrates your marketing, sales and customer service by making it easier for your business to give your customers a personalized experience.
Cloud CRMs have taken one step ahead by giving you the platform to access customer information anywhere, at any time. This makes your sales team more agile, effective and productive, and efficient to close the deal at any time of the day.
Digital transformation of the sales process has only changed it for the better. It has increased productivity for your sales team. There’s no point escaping from it, or even delaying its implementation. Sooner you do it, greater profits you’ll reap.
Now, after sales have been made, the next thing you need to ensure is excellent customer service. And digitization hasn’t left this department aloof.
You might be interested in: How to integrate sales and marketing to provide awesome customer experience?
Impact of digital transformation on customer service
Digital transformation has changed the problems of the customers and solutions offered by businesses. ‘Customer is the king’ is not more applicable and evident. The ways to keep the customer happy and satisfied have changed. And this has transformed the process of ensuring perfect customer service.
1. Online review is the tool of this era:
10 years back, what did the unhappy customers do when they were not satisfied with a particular product? Complain through emails, and spread negative word-of-mouth in the community. Now, online review portals and social media have taken over email complaints. The word ‘community’ has expanded its horizon to anywhere on this globe.
A single bad review can take away even ripe prospects. Your reviews are no more hidden. It’s available to all your prospects, and it can either make your sales or break your sales. All depends on ‘good review’ or ‘bad review’.
2. Automated customer support:
Customer support has now become proactive. With the advent of AI and machine learning, customers no longer have to wait for support agents to reply.
Mostly, the queries are already fed in the system even before the customers raise their concern. And they get automated replies from chat bots powered by artificial intelligence.
3. Availability of online information:
Now, most of the information about your product or service can be made available online in the form of FAQs, video tutorials, and step-by-step guides.
Just one Google search or browsing through your website can answer customer queries.
4. Personalized up selling & cross-selling information
Very often we have noticed that we get suggestions from e-commerce portals about buying something relevant to what we have bought earlier.
Digitization has changed the process we cross-sell or up sell our products. The tools automatically tell you the customer interests, needs and their buying behavior. This, in turn, helps you provide personalized experience to the customer.
5. No compromise on customer data privacy
This is something that didn’t even exist before. This is new, and has emerged only in the era of digitization. Customers, are more than ever, worried about their personal data. Breach of data even has legal implications for the company.
Keeping your customers’ data private is very important if you want to gain customer trust and retain them forever.
Overall, digital transformation has changed the shape of business processes. And this has given you access to information that you never had before.
Benefits of digital transformation
By now, you must have understood the benefits of digitization of your business. Just let’s do a quick cross check if you have missed any.
- Increased transparency
- Easier collaboration
- Enhanced agility and innovation
- Better resource management
- Accurate customer insights
- Employee Empowerment
- Excellent customer experience
- Direct door to globalization
There are innumerable benefits of digital transformation and putting them all in a single list is kind of impossible. You, yourself can realize the benefits once you completely transform your business digitally.
Fact: According to a research from IDC, two-thirds of the CEO’s of Global 2000 companies will shift their focus from traditional, offline strategies to more modern digital strategies, to improve the customer experience before the end of 2019, and 34% of companies believing they’ll fully adopt digital transformation.
It’s already 2020! There’s no time to think more or procrastinate any further. If you want to be in the race, just get on to the journey of digital transformation right at this very moment. Cymetrix Salesforce consultants will help you at every step of the digital transformation process.
Digital transformation has changed the way you do business.
It has paved the path to innovation, growth, and discovery of new business opportunities. The process of digital transformation is gradual, and has evolved over a period of more than 8 years now. It is still going ahead at a rapid pace, towards artificial intelligence, virtual reality and augmented reality.
Right now, it’s important for businesses to adapt to the changes that are inescapable. The process of sales and marketing, now, are largely driven by automation, data, accurate insights, interactivity, online portals, and social media.
Coming to the post-sales process, that is customer service, has completely evolved from the way it worked before. Customers, today, want quick resolution at any time of the day, and businesses are providing them with this. Automated customer support, personalized recommendations, availability of online information and high value of data security have completely changed the process of customer service.
Digital transformation has changed the shape of business processes, it has to be adopted if you want to thrive further. There’s no other way round.