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Sales / Marketing

Digital Relevance & Customer Behavior

Digitization and globalization pushes companies to compete with businesses both small and large. Maintaining relevance takes strategy and skill.

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Digital relevance has never been more at the forefront. You don’t have to be a historian to know that the business world looks much different today than it did 15, 10, or even five years ago. Anyone who has spent time in customer service or sales knows that the market constantly changes with their target customers evolving needs and expectations.
But the increasing globalization and digitization of the marketplace have only accelerated the pace of change. Particularly true of today’s post-pandemic era, more consumers than ever conduct their business — from retail shopping to the commissioning of services — online.
This digitization and globalization pushes companies to compete with small businesses and the big box chain down the street and a global economy for which they must gain a competitive foothold. But remaining competitive in today’s increasingly crowded market means having the willingness to evolve with the times. Maintaining relevance with customers takes effort, strategy, and skill.

Living in a Digital World

As much hype as the virtual marketplace gets nowadays; many businesses operate in the physical space. The hospitality industry is predicated on personalized care, which can be challenging to translate into a digital environment. However, that doesn’t mean hotels, restaurants, and other businesses in the service sectors cannot harness the power of digitization.

Chatbots, for example, are increasingly being incorporated into the hotel industry to provide next-level customer care. Chatbots can communicate in most languages, provide 24-7 access to services, and translate interactions into real-time data.

Valuing the Virtual

No matter what your particular industry is, there can be no overestimating the power of a robust digital presence when it comes to remaining relevant to your customer base. Today’s consumers have a world of information at their fingertips, which impacts customer behavior.

Now more than ever, your target audience can be expected to do at least a moderate amount of research before committing their hard-earned money. To attract new customers and retain existing ones requires a robust online presence. 

Companies strive to build a platform that allows an audience to learn more about the organization and keep abreast of new developments, promotions, and offerings. Today’s customers also expect to communicate with the company through various media easily: text messaging, emails, and online chat or discussion forums. 

Studies suggest that engaging with businesses online, namely through social media, is essential for young consumers. “Social commerce,” or the ability to learn about, research, and purchase products and services entirely through social media, is rapidly becoming the preferred sales channel for Generation Z. 

But an effective digital presence isn’t just about enabling your target customer to research your company or communicate more efficiently with your clients and stakeholders. Your virtual spaces provide the perfect platform for learning about your customers. Essential market data can be gathered from your websites and social media pages. This information can be leveraged to understand what products and services your customers value, what needs remain unmet in your target market, and how to resolve any issues or challenges.

Creating social media pages and integrating discussion forums and chatbots into your web and mobile platforms is a superb way to receive customer feedback in real-time. The savvy customer relationship manager can even leverage these platforms to solicit specific and immediate feedback on its products and service.

This information aids in the ability to develop, revise, and enhance your business model, ensuring your company’s relevance and support for a solid customer experience. We witnessed the impact of the COVID-19 outbreak, which engendered several rapid, unexpected, and significant changes in customer values, needs, and requirements. A potentially unprecedented emphasis on safety and convenience has led to timely, customer-directed innovations such as contactless retail and the ascendancy of the digital wallet.

Lets get social

The marketplace today is more crowded and competitive than ever before. Businesses must remain relevant to their ever-evolving customer base. With the proper strategy and the appropriate tools, customer relationship managers and business owners can harness the power of communication and digitization to ensure an unsurpassed customer experience.

Guest post: Amanda Windsted.

Jennifer Compton

Jennifer Compton

VP of Marketing

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