Digital Disruption from EX²

It has been said that the sun never shines on anything new. In one sense, this is true in the business world. Businesses have always competed for customers, struggled with managing employees, and marketed their products as superior to the competition. However, when it comes to technology, this statement is blatantly false. Technology is advancing at such a fast pace that it sometimes seems that a new device or software is announced daily.

Businesses are eager to embrace new technology to help them do the "same old things" better and faster at a reduced cost. For many smaller businesses, however, the move to digital can be unnerving. Phrases such as "search engine optimization" or "e-retailer" are often disquieting unless they have a technology expert coaching them. The principals may be great inventors, outstanding craftspeople, or natural-born salespeople, who have an innovative product or service to sell, but lack the guidance they need to help reach potential buyers.

Without the proper guidance, some business owners find themselves intimidated or immobilized by all of the new technology. They may fail to take advantage of all that the digital world can do for their business. The global population, you see, is going digital in droves. The following statistics may help you understand why the move is on to "go digital" in 2015.

Customer loyalty is just one more way of saying “repeat business." It is what every smart brand wishes to cultivate to maintain brand reputation and image -- and see the best profits. This is why so many businesses now offer some kind of customer loyalty program, usually providing some kind of points-based rewards. These programs, however, are representing just one type of brand loyalty and one type of engagement — a type that customers, going forward, may be engaging in less and less.

Recently, there has been a lot of "buzz" in the IT world about the potential rewards and possible pitfalls of becoming a digital business. Companies are rushing to digitize everything they possibly can, and the effects are becoming far-reaching. However, no single aspect of business has been impacted more by digitization than that of the customer experience. Done correctly, businesses have the opportunity to engage customers on a more personal level, allow employees to be more productive, and improve profitability. Done incorrectly, digital initiatives can frustrate employees and annoy customers leading to a decline in profits or revenue.

In increasing numbers, customers are demanding a more personalized experience that connects smoothly across all channels. To help satisfy the needs of the digital customer, many successful businesses have implemented certain strategies.

Every enterprise has goals it would like to meet. For some, the current primary goal is to increase the company's share of the market. Others are driven to increase profitability, while still others might feel compelled to improve the customer retention rate. Regardless of your specific goal, you may have recognized that mobile apps have become a necessity in today's world. At the same time, you might be reluctant to commit to having a mobile app developed because you believe one or more of the following myths.

Numerous studies have demonstrated that businesses need mobile apps if they want to be more accessible to their customers and provide a better customer experience. Studies have also indicated that many users are fiercely loyal to a particular platform. Developing a mobile app to work on just Android or iOS can be risky, especially if the geographic location of the targeted users is critical. For example, iOS is the most widely used platform in North America, while Android has a larger global base and is expected to become increasingly popular in the U.S.

The people of the world are quickly becoming addicted to their cell phones and mobile apps. According to a report from Nielsen, users average more than 30 hours each month engaged with apps. Mary Meeker, a mobile analyst, stated in her "Internet Trends Report" for May 2013 that the average user checks his or her mobile phone 150 times per day.

It is a buyer's market these days. With a handful of exceptions, consumers know that comparable products and services can be found from a number of different sources. Because customers have gained a great deal of insight into their own power over providers of goods and services, they have begun to expect -- and even demand -- more than ever before. These newly empowered customers are also proving to be less loyal than ever before. Businesses that fail to deliver what consumers want can quickly discover that customers have abandoned them for the competition. 

Outsourcing has technically been an acceptable business practice since ancient times, when certain artisans hired others to produce all or part of their products' components. Offshoring for IT projects, however, began to gain wider acceptance in the late 1990s as companies launched accelerated (and often belated) programs to address the upcoming issues associated with Y2K and to take advantage of the so-called "dot-com" bubble to harness what seemed to be limitless opportunities to embrace modern technology.

In the last year or two, there has been a lot of discussion about digital enterprises. Digitalization has brought sweeping changes to the "business as usual" model to which many enterprises have grown accustomed, and it has blurred the lines that have defined organizations as service providers, manufacturers or logistics companies -- because digital enterprises are typically a little of each. Furthermore, although the evolution to a digital enterprise can be challenging, it is not a change that has a finite end -- technology will continue to advance, and organizations will need to continuously adapt to new methods, new platforms and new software.