Today, there are two types of business models that companies are known for, first is its none other than the traditional kind of business model or a.k.a. The brick and mortar business or the digital enterprise. There are many businesses nowadays that are launching with the help of technology and digital consumers, becoming an entrepreneur has become as easy as clicking the mobile phone or conducting a meeting via Skype. Modern technology is rapidly evolving and changing the landscape of business in an instant. Every entrepreneur has to ensure that their business is equipped with technologies and if not, start their digital transformation journey to ensure that their business sustainable and prosperous. Having doubts and being skeptical about the uncertainty, change can be healthy for every entrepreneur, however, with the help of business technology coaching. Business owners can be secure enough to know that there's no percentage or 100% DNA on businesses being digital and they can run efficiently with it by their side. Since operational activities still depend on its solid constituents to survive and forging strong customer relationships is still one of the classic ways to run a business. According to the company Accenture, "Digital companies create competitive edges based on unique combinations of digital and physical resources." There are many businesses in the industry that have shifted and made the disruption of technology; modern tools work to their advantage, which is a positive impact on the workplace. It's best to take note of business strategies such as this; as an example or model on how companies managed digital business work for them. It's more than just joining the bandwagon and hype over the internet. Think of the print industry. Everybody has been saying that it has been killed stone by the new media, which consists of digital magazines, blogs, or newspapers. That the print industry, the one that pioneered communication between society and businesses, was said to be declining over the years due to the change of modern technology. This evidence is one great example of an industry striving with the change; it shows that new media complements print media. Not only business owners are challenged to think out of the box, but they are creative on how to retain the consumer's interest in books and print media.
With the help of new media, newspaper companies are reaching a broader audience that the circulation of newspapers can't reach. They're also having great exposure and raising numerous amounts of brand awareness with digital or social media marketing strategies. Research shows that "81% of consumers conduct online research before purchasing"; this indicates that businesses should have an impressionable digital business website online. It will boost its brand awareness but also increase sales as well. Consumers want to check if companies are credible and trustworthy with their services and products with their online channels. Running a digital business is not all beds and roses; just like any business, there's an urgent need to put the work in and make the necessary adjustments. For business owners running a traditional business model which shift that's a refreshing change for the team, challenging, but with digital transformation, it will bring their business to new heights. While for digital businesses who are running using digital platforms such as Facebook, or social media channels or applications, technology companies- It's essential to be knowledgeable and aware of the ever-growing ecosystem of the digital space. Just like trending videos that come and go and with every viral article posts, content marketing on the internet has become competitive too. Managing to carve the name of their brands and names within the sphere is an accomplishment. There are factors to consider when it comes to running a digital business - the effectiveness and efficiency of the software or cloud storage that your employees are using. Or if they've chosen the right digital initiative online or made the right partnership with another digital business for a campaign. Questions to answer such as Does the new business model that the company recently adapted adequately to the restructuring of your business? Does it have a backup long term plan to run in the long run? The alignment of the strategic decisions that executives settle for is crucial for the success of the company. For example, if an e-commerce site- business owners focus their efforts on improving their digital website have the right UX web design that online shoppers can navigate through. Perhaps team leaders or managers can try checking the sales and ROI of the e-commerce site that they're going through—letting the social media team conduct social listening to know if the consumers are getting the products on time and efficiently. Giving the technological or marketing teams take the lead playing on their field. Business owners should keep in mind that every decision should always be aligned with the business goals at hand in running a digital business; this can make or break their journey in the digital landscape of the industry. Remember that it's not just the business at stake but also the integrity of their products and brand as well. Want to jumpstart your digital transformation journey? Message us today!