5 Ways Digital Has Changed the Way We Do Business

We live in a society that is driven by digital technology. This is reflected in almost every walk of life, and within every industry of business. Digital marketing has a significant influence on people’s work, life habits, purchases, and social interactions. Therefore, companies today need to know how to utilise the digital universe to maximise their business.

Today we look at five ways in which digital has changed the way we do business. If you recognise some trends that you aren’t yet involved in, then it’s time to make changes to avoid being left behind.

Business communication using smartphone

1. Instant communication

There was once a time where business transactions and deals took a long period of time. Especially when they were conducted via mail or face-to-face meetings. Social media and chatbots have changed that significantly. They act as the door that allows companies to interact with people in a public venue and vice versa. They provide a channel to promote products, transparent messages, and services.

We can instantly contact a brand or business, as well as instantly scrutinise them. This changes the way in which we approach complaints, problems, and successes.

One-on-one messaging groups such as Facebook Messenger and WhatsApp are on fire right now. Considering Facebook Messenger has over 900 million users, we can see how important it is to tap into this emerging market by introducing methods of connecting with, and marketing to, potential customers.

2. Droves of data

Thanks to the digital age, we have access to a massive amount of data about our customers that we can use to our advantage. Some of the important things you can take from data include:

Knowing which customer channels are paying off

Due to the array of technologies and channels that a business can use, it’s important that focus is placed on the ones that are promoting customer engagement and engaging sales. Data can help you recognise what platforms are successful, and what ones might need more work.

Knowing what your customer is like

Thanks to data, we now have access to the “type” of customer our business attracts. For example, we can gather data on their general interests, likes, age group, and location. This makes targeting an audience with ads much easier and more effective. It also increases the chance of reaching new customers and gaining new sales.

3. Ease of payment

Gone are the days where we pay in cash and cheque (well not gone exactly, but certainly reduced!). Thanks to the digital world, making a payment has never been easier. We can make secure payments online all day, every day to anywhere in the world. This constant ability to make online payments has turned business into a 24-hour job with constant sales opportunities for those who sell online.

Starbucks social media post

4. Brands become more human

Due to social media, brands can no longer “hide” behind a screen or desk. People want to know the story behind a business, the products and the employees. It’s these human connections via social media that encourage customers to choose your brand and connect with it.

This is often utilised via Instagram and Facebook. Businesses share “behind-the-scenes” footage as a way to connect with current and potential customers.

5. Businesses are more transparent

The digital age is a double-edged sword. Everything about your business is more exposed, which means it’s easier for people to scrutinise it. This means you have to be transparent in every aspect of your business. Customers want to know about the businesses they interact with and purchase from. In order to increase loyalty to a brand, honesty and transparency is key.

It’s good news for those who succeed in transparency, as they are rewarded with loyalty. Consider this statistic: 94% of consumers claim to stick with a business that offers transparency and a further 73% of that number would pay more for a product that is offered by that business.

Don’t get left behind in the world of digital marketing. Keep your business relevant and growing by ensuring you’re engaged with these five changes.