Technology has always been the kinetic energy behind business development and innovation. Today, it is physical machines that help organizations worldwide achieve prosperity and a long list of digital services that allow companies to broaden their horizons and serve their customers in better, more efficient, more innovative ways.
With that in mind, here are three of the most important digital technology trends in business currently spearheading corporate strategies and decision-making at all levels within an organization.
More than two decades into the 21st century, it is no longer enough for companies in all industries, especially those in the retail sector, to focus their marketing and advertising efforts on only one or two specific mediums. While 60 to 90-second commercials during the Super Bowl or the Olympic Games, a full-page ad on a prominent newspaper or magazine, or a giant billboard inside an airport or train station are still effective ways to market your goods and services, to succeed in a hyper-competitive business environment, a much more comprehensive approach is necessary.
Fortunately, there are now firms like Media Crew and others that provide traditional advertising strategies and campaign planning and offer their clientele a wide range of other services, including digital marketing, media advertising, creative design services, content writing, brand management, and many others. As a result, enterprises in areas as varied as clothing, food, telecommunications, automotive, entertainment, and electronic appliances can reach potential and exist customers in a much more diverse, efficient way.
Versatility and Omnichannel Chains
But if all-inclusive, full-sweeping marketing action plans are at the forefront of some of the most important corporate decisions, sales and supply chain management don’t fall far behind. After all, it is pretty much useless to have an exhaustive advertising campaign if the people you are directing it at have zero to no access to your products. For instance, if you are in the business of selling pancakes but your customers cannot go to your kiosks, drive-throughs, and sit-in restaurants and cafes due to social distancing and isolation protocols, chances are your enterprise will not succeed.
As a result, it is imperative that you not only set a multitude of distribution channels such as brick-and-mortar shops, online stores, self-serving vending machines, and phone-ordering systems but also make use of existing technology to link all of them together in a seamless, collaborative, accessible fashion and information is collected, organized, and analyzed most expeditiously. Only then will your company stand a chance to survive events like the COVID-19 global pandemic and thrive irrespective of public health, sociopolitical, or economic upheaval.
Real-time Global Collaboration
There are many ways for a business to make revenue. First, it can specialize and tap into a niche market that has yet to develop fully. Second, it can appeal to the masses and aim at the biggest number of customers it can find in a specific area. Finally, it can go global and serve individuals and other companies in all corners of the earth. It is in this last one where we will place our focus on.
If I run an organization from an office in Chicago, Los Angeles, or New York City, I can base my working hours on US time and concentrate my efforts on 10 to 12-hour shifts during the day. On the other hand, if the reach of my enterprise extends to Europe, the Middle East, Africa, and East Asia, realistically speaking, I must either work or have somebody else work for me 24 hours a day.
Luckily, we live in a world where, once again, technology has given us the tools to provide our services regardless of location or time of day. In addition, globalization has lead to the standardization of education and ability. As a consequence of this, I can hire a skilled workforce no matter where they may be.
As we have seen, three of the most important digital technology trends in business today are a comprehensive, all-inclusive marketing approach that includes both traditional and modern strategies, the advent of omnichannel schemes to reach all kinds of customers in all kinds of ways, and real-time global collaboration action plans that permit organizations to run their businesses at all times.
Others include the various uses of cloud technology, artificial intelligence in process management and employee recruitment and on-boarding procedures, automation in factories and production facilities, remote maintenance, and using robots in positions deemed either too dangerous or unproductive for human beings to conduct.
As we move further into the new millennium, these and other advancements will continue to radically transform the way business is done on a global scale.