An unbelievable untapped potential for leveraging digital exists in corporate India
22nd July 2015

digitaltechnologiesBeing a web design company is tough. Very tough competition, demanding customers and ever-changing technology. However what keeps us going is the potential for business that exists the world around and particularly in India.

Corporate India, especially thousands of small to mid-size companies have not even scratched the surface of what they can do with their digital presence. Most of them are currently sitting with crappy outdated websites and zero digital presence, both of which are very low on their priority list. The height of customer contact for them is email. What they are missing could revolutionize their business.

There are three major digital areas where these companies are failing:

Leveraging technology for greater customer engagement and interaction

Cloud based solutions and emerging platforms give companies a plethora of ways to connect more deeply with the customer. Being connected to customers is easier then ever. Any company not using some sort of CRM to remain in close connection with customers is missing a huge opportunity. Many companies are encouraging their teams to connect on previously banned of platforms like Twitter and Facebook.

Digital tools not help connect with the customer but also find additional opportunities to re-sell or up-sell the customer. Customers in the future will choose to partner with companies that remain in their circle with constant and reliable support and advise. Tomorrow's leading companies will be those whose teams will be dreaming up newer ways to connect to clients.

Everyday startups are coming up with new ideas and concepts to build stronger B-B bridges. But companies need to have the digital mindset to leverage these new technologies.

Improving cost and conversion ratios on their sales process

Digital marketing provides such an easy access to cheaper sales avenues that provide excellent response rates. Tapping these avenues not only improve conversion rates but also drive down acquisition cost per customer.

Digital provides a huge cost arbitrage over traditional marketing avenues provided one knows the right channel to use. A properly targeted Google Adwords campaign can pay off much higher leads than a traditional newspaper ad. A well targeted banner campaign can produce much better responses than a radio ad.

The additional pay-off is detailed reporting which allows you to exactly the right response rate for your marketing activities as compared to very vague reports from traditional medium.

Gaining a position of authority in the industry.

Knowledge is power as they say. But in today's digital world, appearing knowledgeable is more important. Clients will always be drawn to the industry leaders and one way of establishing a leadership position in your industry is using digital marketing.

You might not be a leader in sales or turnover in your industry but you can be an authority figure by simply leveraging your inherent knowledgebase and also tapping external sources. Once customers keep coming to you for questions, they will also start coming to you for answers.

But this is not easy and I have seen many companies struggle with this aspect. This is because it needs a huge culture shift. Traditional silo mentality has to convert to a more open knowledge oriented mentality. Employees from top to bottom have to be provided avenues to contribute. Together the sum has to be larger than the parts.

Articles, ideas, opinion pieces, white papers, videos etc. have to flow out of the organization and into the digital medium. And when you have established yourself as the authority, the clients will come automatically.

In conclusion, the opportunity exists. What's missing is the will to wade into uncharted waters and take the business into the new age digital world.

Cheers,

Ron

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