Business

Video: Why you need to invest as much as possible in digital today?

By 22/04/2020 No Comments

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In the last weeks, we have seen so many memes about work from home, the whole COVID-19 situation as well as some related to business. One of them caught our attention, and we are republishing right here:

It says: who led the digital transformation of your company? And while we would normally respond that it’s the management, the right answer today is COVID-19, which means, an external factor, and not a business leader.

It’s not new in history that the greatest changes happen in reaction to a catastrophic event, but in this case, what needs to be done it’s just so clear, and in front of our eyes, that we cannot miss it. 

So we want to clarify a couple of things, to make sure we’re fully aligned on the same message with regards to digital transformation during the Coronavirus crisis of 2020.

  1. Executing a digital transformation doesn’t mean just buying the digital tools that you didn’t have yet. Buying the tools is simple, and most of them, unless you are an enterprise, are quite inexpensive. Executing a digital transformation means changing your processes and mindset, prior to changing the tools.
  2. Going digital is not just a necessity to overcome the crisis today, but it’s a decision you make today that will impact your business, positively, for the future. This means you have to be prepared to start investing in this, but more importantly, to keep investing in it for the next years. This also means that you need to be investing in the digital customer experience process, simultaneously, otherwise it will be hard to see the ROI of your investments.

Many companies are struggling, and it would be difficult to find a budget to finance a digital change. You should save as much as possible from marketing, operations, and any other department, in order to find the money to speed up the digitalization.

The importance of digital research

So, if you decided this is the right moment to take your company on the internet and make it more digital, we would recommend starting with something that helps you better understand your digital customers: digital research:

  • The first step would be to create a flow of customer data (social, web, etc). If you don’t generate customer feedback you won’t have much to analyze and therefore not much to learn. A good idea is to use what is already available but maybe not yet exploited, such as your website traffic, your social profiles, or your mobile app, if you have any. A good data source could also be the list of emails from your customers, or the subscribers to your newsletter.
  • Once you have the data flow, you can use simple digital tools to collect the data. For example, you could place a widget on your website and catch visitors’ feedback once they land on your pages. Another idea is to install a pop-up on your mobile app, and periodically pop it to get their opinion while they are online.
  • Once you have the data collected, you have to analyze it. I have explained how to analyze customer feedback manually in several videos on this channel, so it is also possible to do so. However, if you can afford to license a text-analysis solution, then your life would become easier. 
  • Last but not least, use your learnings to design a better experience for your customers, and make sure you communicate how you integrated their feedback with the new solution. This would help you create trust and a virtuous circle.

For more interesting content, click here.

How a Fortune 100 consumer electronics company eliminated 90% of their customer feedback analysis process

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