In the 21st century, technology is becoming more and more crucial to the running of a successful business. Twenty years ago, an e-commerce site seemed like a novelty; today, it’s more like a necessity, and if you don’t have an e-commerce site, you’re behind. This is how digital changes happen. Staying on the cutting edge of the technological wave is a necessity.
The thing is that e-commerce isn’t where this ends. No matter what type of business you’re running, you can use digital tools to build a more cost-effective and labor-effective approach to your business success. Here are a few common business problems, including how you can use digital acumen to solve them.
A full 96% of worldwide customers say that customer service is either very important or somewhat important to them when they choose brands, with 59% of them saying “Very Important.” Plus, 56% have said they’ve stopped doing business with a brand because of a poor customer service experience, and 80% say they would switch to a competitor if they have more than one bad experience. Clearly, customer service impacts the customers you end up with.
The importance of customer service means you need to invest in digital customer service strategies. That might include helpdesks, self-help bases, and live chat. Plus, because about 69% of American adults use Facebook, some companies have opted to use Facebook Messenger as a helpdesk of sorts.
Plus, it’s working. A full 46% of customers have used live chat on a company’s website, and only 9% say they’ve tried, but were unsuccessful. On the other side, 84% of organizations have noted an increase in revenue after improving customer service. Even if you don’t specifically notice revenue increases, you may notice better customer retention, as 77% of people who experience a very good customer experience are likely to forgive a company for bad service.
Although your first attempt should always be to retain existing customers, you still need to make sure customers are able to learn more about your company. Although old-school advertisements like billboards and phonebooks can still be helpful, digital advertising is constantly growing, with worldwide spending hitting $332 billion in 2020.
If you’re not one of the groups that are utilizing digital marketing, you’re lagging behind. About 74% of companies consider themselves actively investing in marketing, and digital marketing is working. In 2016, 87% of people said that in the last month, they’d used a search engine to find a local service or business, and 55% used a social media network.
Weaving together all elements of your digital strategy is also crucial – other elements of digital strategy will weave into your brand discovery. Even if you have a retail store, for example, 69% of in-store shoppers would prefer to look up a review on their phone rather than ask a store associate for help. Additionally, increasing your digital expertise encourages old-school forms of growth, as customers tell an average of nine people about a good customer service experience.
When you’re learning more about your company, information analysis can be crucial. A whopping 94% of business professionals believe that data and analytics is important for their company’s growth, and with that amount of consensus, you can’t afford to ignore it. Analysis is how you know your digital movements are working, and 32% of top marketing executives noted that marketing analytics were one of the most vital capabilities supporting their marketing strategy.
Being able to analyze your data allows you to make the most out of it overall. As a matter of fact, 76% of marketers make the majority of their decisions data-driven, which means they need extremely robust analytics teams to gather and understand data. Even small businesses are quickly realizing the importance of data analytics, with 67% of small businesses spending more than $10,000 yearly.
Data analytics also aren’t as possible nowadays without some form of digital approach. Web-based and cloud-based solutions are most common, with about 91% of businesses using either a cloud-based system exclusively or a combination of offline and web-based systems. When you’re analyzing your data, you need to use digital processes to do it.
Employee training is all about improving your employees’ function on the job. That means adding new skills, helping with productivity, and increasing performance. The importance of proper workplace training can’t be overstated, especially as the world continues to grow and change. By 2022, people are likely to need about 101 extra days of learning to do the same jobs they’re doing now.
Additionally, employee training doesn’t just help your employees do their jobs better. It also helps them stay more engaged in their work. A full 80% of employees believe that the opportunity to learn new skills at work would make them more interested in their work. When about 67% of American employees feel disengaged from their work, this can tremendously benefit your workplace.
Traditionally, employee training has been done hands-on; about 90% of employees believe that hands-on training is effective, but it’s not always practical. Digital employee training can be effective as well, with opinion on this type of training ranging from about 44% to about 60%, depending on the type of course. With digital employee training, you can train work-from-home employees and give your employees more options for training.
A Final Consideration
Digital approaches are crucial in moving forward with the rest of your industry. As everyone moves forward, people who aren’t willing to adapt are going to be left in the dust, and you don’t want to be the business that’s sticking to old-school methods out of spite while everyone embraces digital opportunities.
Changing your options and going digital doesn’t necessarily have to be difficult. It can be something you incorporate into your company’s path moving forward, allowing you to do more with your business over time. Whether you’re trying to maximize employee retention or customer spend, digital solutions are growing more important by the day, and it’s something you need to keep an eye on.