Why SMBs should/should not transform digitally?
Digital transformation is nothing but creating a competitive advantage for your company by using digital technology. Small and medium businesses get scared when they hear of virtual & augmented reality, internet of things, connected mobility, autonomous vehicles etc. SMBs do not feel the need to adapt to change when they are doing fair but what about tomorrow when we think of long-term impact and consider recession or threat of competition? The difference between winners and strugglers is the ability to transform themselves digitally.
What are the prerequisites for Digital Solutions?
SMBs need to figure out what their business goals are: Increase profitability, increase topline revenues, reduce costs or to increase market share. Figure out what is the problem you are trying to solve, and then try and look for the solution to that problem through the process of digital evolution. You don’t have to overhaul your legacy system & completely replace it, you need to see if you can tweak it and it could not always be about technology, it could be about process.
What does digital transformation make you do?
The heart of digital transformation is customer experience design, attune yourself to the needs of the larger community while keeping an ear open for your end customers. Look at your business model and draft a customer journey, put yourself in the shoes of your customer and analyze what experience the customer goes through while using your product or service. At some point in time, you have to transform the leadership from being a legacy to a millennial leadership.
So you see, Technology is a monster but it is a friendly monster and is only there to make your task easier. The more you try to learn, the more you will enjoy working with it. Know more in iSoCIAL’s digital transformation video. Click here: https://www.youtube.com/watch?v=VJnFZFO-7vE&t=41s
Is Digital Transformation a Pandora’s Box or a Box of Opportunities?
It has already begun. Yes it has! The wave of Digital Transformation has already become an influential part of our lives. From reading news on apps to online shopping, from online movie streaming to ordering food, from online bank transactions worth millions to booking a ride, we are surrounded by digital avenues everywhere and we make use of it in our everyday life.
But here comes the big question:
Where is this transformation headed?
When asked about the same, Stephen Dantas (Founder – Digityll, US) has his opinion to share. He feels these technologies are making people nervous and confused because people find it complex. Whereas digital is actually a tool kit. You use the right tool to fix the right problem at the right time. Digital is a synonym of the pace of change happening in today’s world.
What are the components of this Digital transformation?
Stephen identifies 4 key components:
Does everybody and every business necessarily have to be a part of this transformation?
Well, not necessarily. You become a part of the change when it makes sense for your business or when it gives you the advantage for increasing your potential and achieve more through new technologies thereby providing you prototype solutions for your problems. Not all 4 components may be useful but if even one component impacts your business positively, you should definitely embrace the change then.
Watch iSoCIAL’s video on Digital Transformation to know more. Click Here https://goo.gl/KFtuWA
Digital Social Media is a big word with a greater than realized impact on society in today’s time. It is not merely affecting society as a whole but also each and every one of us in one way or another, especially our employability factor.
Want to know how?
It is not a difficult job today to get information on somebody’s online footprint by the way we are connected to the world today and that is when the problem starts – “people can see what you’ve looked for, how others looked for you, your connections, and your conversations, etc. People in the corporate world don’t spend their time as much as looking at your resume as much as they do look at your personal social accounts because that is how they are able to analyze the true you and how will you be when under pressure.
Could Digital Social Media also lead the way to losing your job?
Continue reading How Digital Social Media is Impacting the Employability Factor?
When something new attracts the limelight, whether it is a new face on tabloid or a new brand entering the market or a new technology, they attract a lot of speculation on their way. People speculate because people are discovering and trying to know more about it. This gives the way to MYTHS getting perpetuated. Similar is the case with DIGITAL MEDIA. Let us try and learn more on what are these myths that most people have in their minds.
MYTH 1: Digital Media is technical in nature.
This is not entirely true. While it is correct that tools and other technicalities are required for running a digital media campaign, what is required more of people is for them to understand the functionality of the technology and the knowledge and utility of the different mediums from the client’s point of view.
MYTH 2: Digital Media is Facebook, LinkedIn, Twitter
Digital Media is not just restricted to social media platforms such as Facebook & LinkedIn, but it involves managing the overall presence of a company or person whether it is a website, online portals, social media accounts and more. Continue reading The 4 Popular MYTHS in Digital Media
Why do you think clients allot budgets to agencies? It may be for increasing sales or it may be for facilitating marketing efforts with the intent to derive the right revenues. So as a Digital Media Professional, do you understand business cycle? Have you got the creativity quotient checked? Do you have a performance tracker in place to measure the outcome? Also, do you know that not all things are technical in Digital Media? Topmost drivers of Digital Media are content & visuals.
There are essentially 5 key areas or POWERS that sum up Digital Marketing that are:
1st POWER: Web Essentials Management (WEM)
WEM includes anything that relates to the presence of the client such as web portals, websites, microsites, landing page, apps and so on.
2nd POWER: Visual Impact Management (VIM)
VIM includes all the driven and driving visuals. It is about how effectively one is able to put the tools in place while working on a visual impact strategy. Typography, mind maps or conversational visuals or a YouTube channel with video content. Continue reading 5 SUPERPOWERS of a Digital Marketing Professional
WHAT DO BUSINESSES NEED?
Businesses today need professionals that understand and work towards achieving the required objectives; whether it is to help the companies in impacting the top line in the form of sales, lead management, lead generation or a more marketing driven approach in terms of brand management.
WHAT DO CUSTOMERS EXPECT FROM DIGITAL MEDIA PROFESSIONALS?
When one talks or refers to brand management, they are not just referring to an algorithm-driven routine to be followed online, instead they expect from us to understand what total online brand management is. Similarly, if the objective is to engage people, companies would expect us to know the deliverables in terms of community engagement using an effective digital media campaign.
WHAT DO DIGITAL MEDIA PROFESSIONALS MISS?
Continue reading What Companies expect from Digital Media Professionals
Flashback to when we were a true 90’s kid and only words like “Pokemon” got us excited, try to think if you had ever heard of the term “E-Commerce”. Had you? I’m guessing NOT until of course, you’re a time-traveler. And back to today, all we hear is the internet and buy and sell and “free shipping” is the word that gets us excited. Things have changed and so have people and their ways of living, which is a good reason enough to promote the virtual ways of living and leading life.
When we talk about e-commerce most people think that it is about the websites that buy and sell stuff, which is partially true. E-commerce is a much broader term. It includes the following:
- Services that you exchange with someone on the World Wide Web and get paid for it.
- Websites that help you buy and sell (Flipkart, Myntra, Snapdeal, AliExpress and so on)
- Websites that provide you transportation services (Ola, Uber, etc…)
- Websites that help you find a home
- Websites that you play a game on and pay for its extra services and so on.
The E-Commerce sector is expanding like a hot air balloon, it might hit a few bumps down the road but it is on the whole, increasing its popularity and worth day-by-day. People are willing to dive in the pool of entrepreneurship because of the success these online startups had shown in the past years and it is making people think if they should invest in these new online startups as they would return their small investments in big bucks. E-Commerce is a word we’ll be hearing a lot in the time to come and it might rise as our “knight in shining armor” if we’re lucky enough because seeing the growth on that graph we’re sure to say that it’ll be one of the biggest things ever.
Happy Learning & Growing J
Do more and become more,
You are a LEADER.”
-John Quincy Adams
When you think of setting up a business, what vision do you have in mind? Is it to earn profitability, reduce costs, and build customer loyalty?But what about becoming a market leader? Have you got that covered too? If No, then why not? Jeff Bezos said, “Market Leadership can translate directly to higher revenue, higher profitability, greater capital velocity, and correspondingly stronger returns on invested capital.” But sadly today, most of the SMEs do not think of including of becoming a market leader in their vision. When one does not think of reaching the top, chances are growth trajectory of the business takes a downturn and the business does not survive for long.
Let us try and understand a little more as to why this may happen? If a company is a market leader in the category of products or services it manufactures, it means that there is a higher market credibility attached to it, enjoys a larger market share as a consequence but most importantly the company is a trendsetter for its competitors. A market leader leads the market and dictates where the market is going.
Now let us consider the other case where a business simply does what its competitors are doing, what all do you lose on? Continue reading “What Makes a Market Leader”
It all began with a dream… A dream to connect people. With this vision in mind Internet, one of the most important and transformative technologies was invented. Internet is like a digital fabric woven into the lives of all of us in one way or another. When people connected through this network, the Internet became Internet of people which transformed the world and now this new internet which is emerging and determined to change the world again, aims at connecting things and hence became Internet of Things (IoT).
One learns about its (IoT) uniqueness when one understands the underlying principle, which is to enable things to share their experience with other things. IoT adds the ability to sense and communicate and touch and control in order to interact and collaborate with other things. Unbelievable it would have been years back. But today, it is possible and it exists. Human beings make use of their five sense to feel and communicate. But when things start to feel, communicate and collaborate it is where the internet of things and the internet of people intersect.
Now did you ever notice that the things that communicate over network with one another were designed decades ago, but how do they communicate now? It’s because of the tools and systems that allow these capabilities to existing devices. Let us try and assess the power this Internet of Things has through one of our daily life instances. What about your smart phone? Ever wondered what all it smartly knows about you? It knows where you are, how many steps you’ve taken, how much light is in the room, it knows how close it is to your face, it knows what you’re saying and it even has an eye so it can see its surroundings and it also has the ability to communicate on a wireless network. All at the same time, genius right?
Now let us try and realized how woven we already are in this IoT network already in our day-to-day lives. The arm bracelet that most people wear monitors their sleep cycle and knows the right moment to gracefully wake people up by gently vibrating and blinking a light. At that moment, the bracelet sends a message to the other connected devices that gradually leads to a chain of events happening for instance the coffee maker turns on and the bedside lamp starts brightening. The beauty is that the process ensures optimum resource utilization along with the most effective way to go about a task.
You might be wondering who cares, right? Well to answer this question religiously, big businesses care and they care to the tune of billions of dollars. For instance, Samsung that primarily manufactures smart phones among other things, purchased a company called smart things for 200 million USD and the surprising element is that this company did not even exist 2.5 years ago. Google purchased NEST for 3.2 billion dollars, which was one of the biggest acquisitions in the internet of things space. What is absolutely certain is that IoT is capable of impacting our lives by making it easier but it is yet to discover the magnitude to which it does that.
You may look for “The Legendary Series of 7 Hats”.
Hat-2 Introduction to IoT, its application and scope.
When I talk of a country with a large population such as India or China, it is important to question ourselves in what activities should the population engage themselves so that the country can grow and develop as a whole. It has been observed that most countries that have a vast population engage in manufacturing and service industry. The consumption needs of the people are satisfied by the manufacturing sector and to some extent by the imports, whereas the flow of money is regulated by the service sector. A country cannot survive by engaging its people in just one of these activities.
Engaging people in the service industry is a lot easy for any government than engaging them in manufacturing related processes. This is primarily because in the manufacturing of any product or commodity four essential requirements are needed (land, labor, capital, entrepreneur) along with other requirements. To add to this, businesses involve in taking a lot of risk and people are generally not willing to put themselves in any risky situations. Continue reading Networking with Government – Schemes & Grants for SMB