Did you know 68% of consumers are willing to pay more for products from brands that offer good customer experiences?
Changes in technology have changed consumer behavior and in this constantly progressing world, businesses must keep pace with the changing demands of consumers.
The goal of keeping up with the changes necessitates businesses to rethink how they carry out business processes and transition to digital to not just survive, but to scale.
In essence, digital transformation is not about changing what businesses do, rather changing how they do what they do.
Such transformation has impacted business processes across industries, but the impact on sales and marketing has been a fairly large one.
How has technology changed sales and marketing?
Sales and marketing have been constantly evolving with the advancement in technology. How we know them today is unlike what they were some years ago.
Technology has transformed sales and marketing by streamlining them, increasing interactivity among the processes, and most importantly, by making them more personalized for consumers.
1) Personalized engagement
The drastic development and rise of technology made it crucial for a business to restructure its marketing funnel. What was once a few simple steps to be followed, is now a better-evolved structure that focuses on enhancing customer experience at every stage.
What consumers want today are solutions designed specifically for them. Digitalization has made it possible for businesses to understand consumer preferences through an abundance of data and multiple channels to reach out to prospects and customers. Thus, increasing the level of personalization.
2) Borderless access through the internet
Marketers and sales representatives are no longer confined by geographies. With over 60% of the world’s population online and the availability of multiple social media channels to reach out to them, businesses can market and sell both locally and internationally.
A company website and platforms like Facebook, Google My Business, Instagram, etc. make it easy for businesses to build a presence online and connect with their ideal customers. And not just that, an active online presence makes it easier for customers to reach out, too. Unlike traditional sales and marketing, the conversation between a buyer and a seller today begins much before the actual contact.
3) Improved lead generation
The acceleration of technology has significantly changed how businesses generate leads. From mass communication to individual-centric marketing plans, lead generation has evolved throughout time. It is not limited to cold calls or advertisements in the newspaper or the radio, most of it has moved online.
Lead generation is both a top priority and a challenge for any business. And one of the major challenges that a business faces is attracting high-quality leads. Fortunately, today’s technological tools and techniques not only let businesses target their ideal customers but also help nurture them throughout the lead journey.
4) Enhanced business communication
With so many engagement channels available today, businesses have an even greater opportunity of connecting and engaging with their target audience. And communication doesn’t necessarily have to be through a phone call or a long email. They can engage with their audience in various other ways, too – through blogs, videos, infographics, etc.
Furthermore, companies have significantly improved their customer support by making themselves available on multiple social media channels. Technology has enhanced communication multi-folds and speed, flexibility, reliability, ease, etc. are just a few among the many improvements it has brought.
5) Fast and secure payments
Perhaps the hero among all. Digital payment apps have made money matters convenient, more so for businesses. The ease of transacting online doesn’t just offer a seamless experience but it greatly enhances the transaction speed and reduces the dependency on cash.
Purchase – the last step to closing a deal is made faster, convenient, and secure with digital payments. Moreover, consumers too prefer paying online than through traditional payment methods.
Digitalization has made sales and marketing simple, effortless, and time-saving. The tools that we have today would never have been thought of a few decades ago. And, digital competency for a business is more than a competitive advantage. It is, indeed, a necessity for companies to implement the right technology to scale their business.
Despite all the positive changes that technology brings, there is still a large percentage that is yet to implement it. Fortunately, with so many tools available today, both free and paid, businesses can easily bridge the digital gap that persists in their businesses. NeoBiz is one such free tool that helps micro, small and medium businesses manage their customer engagement and increase their sales.