Welcome to the interesting, lively, dynamic, ever-changing world and journey from customizing to digitalizing.
Although you were likely reaching for your smart phone long before the COVID-19 outbreak, digital channel usage throughout the pandemic has continued to spike Today, you grab your smart phone first. In seconds you can find recommendations on social media or other ratings and reviews platforms. Within minutes you can begin interacting digitally with a brand – forming opinions about how well (or poorly) it meets your needs.
The bar has been permanently raised on what customers expect as “basic” digital capabilities. As people keep going and staying digital, their experience expectations will continue to rise.
Digital by default
The journey of marketers from customization to digitalization is too fast with the call from ever- changing and discerning customers of 21st century. Welcome to the world of Digital by Default. It’s a future that i predicted for years – and that the COVID-19 outbreak put on the fast track. I believe it’s accurate to say that the pandemic brought accelerating changes in consumer preferences and behaviors and putting pressure on brands to keep pace. The whole platform of offer is dominated by digital marketing. Among “Ps” the Process P i.e. Process of digitalization by default is more progressive and dominant.
In the world of Digital marketing whereby Digital by Default, convenience, ease and accuracy are table stakes. Intelligence, empathy and reciprocity are the differentiators. And trust is more critical than ever.
In 21st century and covid-19 period some organizations have proven better prepared for this world than others. Those with processes that are not fully digitized have faced challenges. After all, if even 5 percent of a process still requires manual intervention, that process was likely bottlenecked during the COVID-19 shutdowns. By contrast, organizations that had already invested in Artificial Intelligence (AI), cloud technology, advanced data solutions and mobile employee technology before COVID-19 have been able to navigate the impact more quickly and confidently.
I believe that Ten years from now, those organizations will have emerged as clear winners in the market.
In the meantime, all organizations need to achieve greater flexibility of physical spaces, platforms and data. That includes the ability to continuously recalibrate requirements and investments against the outcomes they support, re-justify space investment, identify platform investments that pay off faster, and ensure that data is both comprehensive and accessible to power dynamic decisions.
In a cut-throat competitive world you simply can’t take half-measures when your competition is a tap away. You need to survive & thrive. You need a clear and compelling brand purpose – and an experience promise that you can consistently provide to all customers. If you fall short in delivering on your brand purpose or experience promise, you may not get a second chance. Years ago, people would “vote with their feet,” quietly taking their money to another product or provider. Today with digitalization the feedback loop is visible and global, with many consumers who are not shy about sharing their sentiments. The impact can be swift. (Just ask some of the organizational leaders who have recently faced dire consequences from betraying their brand purpose and values.) Make a move from just surviving to thriving in this cut-throat competitive world.
The management tip
We changed being educational institution thereby digital by default took place with each n everyone of us.How can you better position your organization to outmaneuver uncertainty today and tomorrow? Start by assessing where you are and where you have opportunities to improve. Think n focus on your organization digital journey from customer to clients.
With those usefull insights, start designing an end-to-end experience and touchpoint strategy. As part of that, consider how you might reimagine the role of physical spaces – and rethink your customer function support model and financials from the ground up. Everything should be challenged and questioned. From there, start executing your top-priority initiatives with a firm commitment to being agile. Keep testing and learning to validate and continually improve your strategy. Above all, don’t wait. The future isn’t tomorrow. It’s here. It’s Digital by Default. And if your organization isn’t, too, you could be left behind. Its essential not only to survive but thrive also.
So the management tip-lay down the trap today to capture the future.
Compiled & Authored by (Article from working paper series of Dr M.P.singh)
Prof(Dr).M.P.Singh,Program Director&Professor Marketing@Asia-pacific Institute,New Delhi,India.