your company needs to adapt to this new reality – WAU
The use of technology is an integral part of most companies today. In one way or another, we seek advanced resources to perform tasks more quickly, efficiently and safely. But this advance continued to the point of completely transforming the way people do business. The digital market was born, a reality that […]
The use of technology is an integral part of most companies today. In one way or another, we seek advanced resources to perform tasks more quickly, efficiently and safely.
But this advance continued to the point of completely transforming the way people do business. The digital market was born, a reality that is here to stay.
Nowadays, it is possible to access and control the bank account and even make investments by cell phone, and buy all kinds of products, from shoes to fruits!
In addition, the digital market has also created new business models and gave scope for the creation of entirely digital products.
Whether transforming traditional industries or creating market segments, how can your company fit into this new reality? That’s what you’re going to see now!
What is the digital market?
When we talk about a market, what comes to mind? A place where people buy, sell and exchange different types of items, right? The digital market is the same.
The difference is that it is done through the internet. Whether on e-commerce sites, Facebook groups or platforms like OLX, the fact is that the web has never been more useful for conducting business transactions.
The daily growth of internet users in London and in the world, added to new communication and commerce tools, such as chatbots and easy payment apps, the tendency is for this to happen even more in the coming years.
How does the digital market stimulate business innovation?
The digital market certainly creates a series of innovation opportunities for companies of all kinds.
It doesn’t matter if the business is small or large, if it has a lot of marketing budget or even if the owner is a great tech connoisseur.
Access to information and simple to use and maintain solutions have made all these obstacles a thing of the past. Nowadays everyone can do well in the virtual environment, as long as they prepare well.
See why and how the digital market fosters innovation, and learn how your company can take advantage of these opportunities:
The center of Digital Transformation
Digital Transformation is a never-ending event: a revolution that has come to completely change the way we view the world and interact with him.
The digital market is at the center of this transformation, since most of the trends and innovations that are part of it are related to changes in the way of consuming products and services.
Soon, companies that are attentive to Digital Transformation are likely to benefit from the benefits and possibilities of the web to sell.
New solutions to old problems
Technology allows old problems, never properly solved, to be attacked in innovative and more effective ways.
Of course, this type of solution is usually quite profitable, as people are willing to pay for something that generates real value for them, and that solves a common difficulty.
Thus, creating ways to solve problems that have persisted for a long time is quite an opportunity for innovation.
New markets and business models never seen before
Some of the most interesting business models and niche markets today did not even exist a few years ago.
Think of services like Netflix, Uber, Airbnb and many others that today are spread across several areas of expertise.
For some time, companies of this type would only have been part of futuristic projections in Hollywood films, and have become resounding successes thanks to the evolution of the digital market.
As this market progresses, it is to be expected that yet other innovative companies will break paradigms and launch business models that will be widely copied.
Constant evolution and popularization of technology
Another positive point for innovation in companies is the fact that technology is becoming more and more common and popular.
Think about the ease of having all kinds of useful tools, from CRM to marketing automation software, through productivity apps and so on.
Modernization favors innovation, and the more accessible it is, the better for companies that know how to take advantage of the resources offered to better serve customers.
Opportunity to return to the roots
When everyone is concerned with the latest technological innovations, the main innovation can come from taking a step back and returning to the roots. As well?
Instead of going to war for whoever has the best features and functionality, success in the digital market depends on the elements that never change.
Think about this: 10 years from now your customers will not care about the latest technology used today. But they will certainly still give importance to aspects such as product quality and service.
These are the factors that do not change, and the digital market offers excellent tools for those who want to maintain a high standard of quality without getting involved in a “technological race” with competitors.
Discover the 7 main changes and trends in the digital market
As already mentioned, the digital market plays a central role in the constant evolution of Digital Transformation.
As the trends of this movement keep coming, it is also natural that some of them are directly involved in affecting the way you buy and sell on the web.
Here is a list of 7 changes and trends brought about by the evolution of the digital market and what impact they can have on your company:
1. Web Analytics
The virtual environment is very competitive, and every effort made needs to be measured and optimized, to avoid waste and increase sales.
Therefore, the analysis of metrics and performance indicators, or KPIs, is fundamental for the digital market.
Learning from experts and taking courses in the field are good ways to master the subject and not miss out on good opportunities due to lack of knowledge when analyzing important metrics.
2. Mobile Internet
It may sound strange because it is already very common for most of us, but the mobile internet is one of the engines that drive the digital market.
Without the improvement in the quality of mobile connection, the broader access to internet plans and the best quality devices on the market, we would hardly have a digital ecosystem so alive and full of transactions occurring every minute.
You may also be interested in this content!
Types of innovation: check out the 4 essential types for companies
3. Shared economy
The shared economy is another business model that came up with the wider use of the internet as a business channel.
People realized that sharing goods, services and experiences is often cheaper and more interesting than buying something on your own.
In the social era, where everything is done to be exposed, the digital market has found a lucrative niche that explores people’s desire to feel part of something bigger.
4. Artificial intelligence
Artificial intelligence contributes to increasingly sophisticated systems in institutions of all kinds.
Whether to perform important tasks, such as administrative operations, or to launch better marketing campaigns, artificial intelligence has a prominent role in the digital market.
The trend is that this role will increase considerably in the coming years, as AI solutions advance and become more popular.
5. Virtual reality
Virtual reality is still an evolving area, but it has everything to completely transform the way people buy and sell and must have a profound impact on the digital market.
Giants like Google and Apple are already betting on virtual reality, and with good reason: the idea of complete immersion in universes previously seen only from a distance, through TVs and cinema screens, is very interesting from the business point of view.
6. Internet of things
The internet of things is another promise for the near future that has already shown great potential.
The bracelet worn at Disney parks in Orlando, USA, is proof that the connection of wearable devices (only one of the infinite possibilities of this technology) can be used to integrate digital and physical consumption experiences in an almost perfect way.
7. Bitcoin and other cryptocurrencies
Bitcoin is part of so-called cryptocurrencies, and has come to reshape the use of the internet as a commercial channel.
After the initial suspicions generated by the use of currency on the black market, there are already many people investing time and money in exploring this new way of making payments.
The concept of Bitcoin can be explored even in the production of content securely, and it tends to be increasingly used as a way to validate transactions that require a higher level of protection from fraud.
How to fit your business in the evolution of the digital market
The fact that the digital market is already a reality – quite attractive, by the way – does not mean that all companies will automatically benefit from it.
Quite the opposite, those who do not understand the “rules of the game” and adapt to compete at a high level on the internet are at serious risk of losing space and face difficulties.
With that in mind, it is essential that you make the necessary changes to put your company in a favorable position, that is, able to stand up to any competitor in the fight for online customers.
Some of the actions needed to succeed in this scenario include:
Produce top quality content
Content production is one of the pillars of the digital market, as it is the way found by customers to better understand their problems and needs.
In addition, it serves as a cut line when determining which brands are most reliable.
Therefore, the better your work at producing materials that are relevant and interesting to your audience, the greater chances of selling to them.
Another important role of content in the digital market is that it helps to spread the brand image and make it known in its respective niche, with the potential to be recognized as an authority on a given topic.
Diversify channels and formats
The content we’re talking about isn’t just blog articles. Although they are the best known option and have enormous value for a successful strategy, there are many other options to use.
We have already written about at least 58 types of content that a blog needs to have in order to better engage the public and the types of post for social networks.
Be prepared for the digital environment
In general, it is essential to be well prepared to work in the digital environment. This requires living in that environment, using it as your customers use it (or more), in order to understand what makes up a perfect user experience.
Only some of the elements that we can highlight within this context are:
- mobile experience: search engines give priority to sites with a good mobile browsing experience;
- IF THE: knowing what is involved in search engine optimization is essential to attract traffic and not be penalized;
- be on display all the time: everything your brand does is closely watched by customers and onlookers. Knowing how to react to the most diverse situations is important;
- extra attention to data security: Transactions need to be secure, to avoid problems for customers and losses for your company;
- adapt to competition and the market: The competition is strong, and many companies are doing very well in the virtual world. How to face and stand out?
In short, operating in the digital market requires as much preparation and care as any physical operation.
The digital market is too big to be ignored. The companies that adapt to this new reality and invest in it are the ones that will remain active and healthy in the market. So, don’t delay, now is the time to take advantage of the digital world to sell more.
Do you need qualified professionals in your company to better explore the potential of the digital market? Access WAU Jobs and find the ideal candidates!