How can digital innovation help a small business?

Why is digital innovation important to a small business?

Digital innovation is important because it is the future of many companies. The most successful companies have implemented a digital platform in their work environment. Leading them to be the top performers of their competition. An example of this is Netflix, which was once a small subscription-based streaming service. Netflix transitioned to digital to grow its business in streaming services.  This led them to become the largest provider in streaming services. Blockbuster on the other hand did not take action on starting their digital innovation into streaming service.  As of right now, 34% of businesses are going into digital innovation. The number will increase rapidly because of the COVID-19 pandemic. Implementing new digital trends into a business is a way a small business can grow. Read more about how your business can start the digital transformation journey.

Can digital trends bring new customers to your business?

There are many digitalization trends that can help bring new customers. For example, personalization uses algorithms to show ads that relate to consumer’s similar interests, searches, and needs. In return, it gives businesses the opportunity to show their products without upsetting users. 80% of consumers are more likely to make a purchase from companies that deliver a personalized experience. Voice search, helps businesses appear first on search engines, or to purchase a product online. Also, augmented reality assists businesses with creating an experience that customers will enjoy. For example, It can show how a color will look at a consumer’s house through an app. To learn more about how to grow your customer through digital transformation click on the link. 

How can an automated workflow improve inventory?

Artificial intelligence and analytics are trends that can be used to maintain and organize inventories. For example, both use algorithms to predict when customers will need a product. Allowing time for companies to stock up on items and be able to ship out. This fixes the problem of having overstock. Also, both trends can work together to track packages. Letting the consumer know where their packages are and when it will be arriving. Companies like Amazon and FedEx use these trends for their services. Artificial Intelligence also has the ability for machine learning, Which allows it to fix errors in the system and saves management time. Overall, both trends can allow businesses to make accurate decisions and save the business money. To learn how Designial can help your business improve inventory maintenance click on the link. 

How does digital innovation help with digital marketing?

Digital marketing has become the best way for small business to advertise their products. It cost less than other methods and can be more effective. For example, shoppable posts appear on social media to promote products. People are able to see the product and purchase the product straight from the ad. Personalization can help promote these posts to consumers who are interested in similar products. These posts are effective because 72% of Instagram users have made a purchase through the product. Videos can also be posted on social media platforms to promote to consumers. Content marketing will grow as social media usage numbers keep growing. Read how designial was able to achieve 6x the efficiency for a client. 

How have large companies implemented digital trends and have found success?

Companies like Amazon, Microsoft, and Tesla are using digital technologies to be successful in their industry. Amazon uses algorithms to predict when consumers will purchase a certain product. Allowing them to stock up on the product to have ready for the consumer’s order. Microsoft is using advanced cloud technology to store large corporations’ data. Allowing them to sell their products to consumers. Tesla uses AI to produce self-driving cars and introducing new technology to their cars. That has not been seen in their competition and are outperforming the competition. It has allowed them to be one of the top car manufacturers. Read more about how to implement digital innovation successfully in the case study.

Which digital trend can help with customer experience management?

The most versatile digital trend for customer experience management is chatbots. They have the ability to manage customers and track important information. When customers visit a website, they are usually on it to find out information about the business. A chatbot can answer any simple question, from hours to product questions. This saves the business time and effort, which can be used for a more important task. Also, chatbots can save a company from overspending on hiring customer service teams. It is a digital trend that is growing, chatbots are supposed to grow from $2.6 billion in 2019 to $9.4 billion in 2024. Read how Desiginal helped customers leverage user research to understand customers and boost sales by 70%Contact us to discuss how we can help you.