How Mobile is Driving Digital Transformation
Web technologies are evolving at warp speed; audience now can’t open a newspaper, magazine, or web browser without getting inundated with opinions and this is how Facebook and LinkedIn are ‘changing everything’ as now everything is accessible anytime, anywhere and on any device.
Mobile makes the digital world portable—accessible any place, at any time, and to anyone who wants to call it up. That reality has transformed, and continues to transform, the way people live.
According to eMarketer’s projections, how mobile is driving digital transformation, one-third of the people will be smartphone-equipped by 2018. Not to forget, tablets and wearables to the mix, and it’s evident that digital is an everyday fact of life.
Businesses that refuse to become digital aren’t missing an opportunity to connect with mobile-first consumers but will be left behind. Imagine failing to take benefits of the opportunities granted by the invention of the printing press or the personal computer.
Mobile is that seismic. It’s invariably reshaping society itself.
Today’s consumer wishes to shop whenever, wherever, and however they want, whether that’s in store or on their phones or via an app. All they need is “CONNECTIVITY”……and they are ready to go!
Take an example of the digital transformation driven by “The Home Depot”, an American retailer of home improvement and construction products and services, targeting mobile shoppers, has changed the outlook how a typical chain store would appear.
It adopted a strategy of blurring the lines between online and in-store shopping, offering what it addresses “interconnected retail” to customers. The physical locations not only stock about 35,000 products, but they are also digitally supplemented with an additional 700,000 online products via mobile catalogs that grace stores. They have ensured to deliver online orders to brick-and-mortar locations. Previous year, 40% of The Home Depot’s online purchases were claimed.
The company upgraded its Web and mobile sites, including refreshing category pages and streamlining the checkout process. That significantly helped lead to double-digit benefits in traffic and conversion rates in the quarter.
In the digital world, no part of the value supply chain is exempt from significant change.
For example, many media and entertainment companies plan have adapted to the digital environment, they would do well to also strive to achieve or sustain high performance to dramatically outperform their peers.
BBC News outlined plans to save £48 million a year across the BBC News Group by 2016/17, along with proposals to restructure the division and to invest in digital transformation.
Warner Brothers transformed its core media production and distribution capabilities into a single, totally integrated digital operation.
BFSI industry is also riding on a wave of digital transformation:
There is increasing pressure on banks to remain relevant. But there are those making waves: Lloyds Banking Group has recently announced its intention to double-down on digital banking, closing branches and cutting costs. Such bold moves, even a couple of years ago, would have invited ridicule and a fair amount of controversy.
In insurance, ING Life, one of the leading life insurers, has created a sales app for its agents with sophisticated tools to present insurance offers and calculate premiums. The calculator, the first of its kind for group life policies, speeds up the application process and can be generated as a PDF file. There is a desktop version (off and online) of the app and one for mobile devices with Android.
Needless to say, the modern era for marketing is being formed around four new dimensions: customer engagement, information, next-generation technology and the most importantly-connectivity, which is not possible without mobiles.
With wearable devices and the Internet of Things expected to boom, businesses will be better positioned to anticipate consumer need even before the customer does.
Ever since the launch of the iPhone in 2007, the mobile phone has been consistently positioned as the “remote control for life.” Many of the new devices coming to the market, such as watches, sensors and wearables, depend entirely on the phone for connectivity, data display as well as for software updates.
But as products evolve, the question arises “will the phone continue to be the “sun in the solar system,” or will connected services and devices resemble more of a constellation? Although the smartphone could retain its dominance for now, services and devices may eclipse its supremacy. The answer is yet to come.
October 8, 2018
September 27, 2018
June 14, 2018