Digital DNA Of Nifty Businesses

In the new normal, relevance, safety and accessibility are the most important aspects for customer experience

As global businesses prepare to overcome the covid-19 crisis and adapt to the new normal, understanding and acclimatising to the fast-evolving consumer has gained utmost importance.

An important lesson has been delivered in 2020 – a well-performing business is a digital business. Lockdowns and social distancing have necessitated adopting digital transformation.

For business leaders, there has never been a more important time than now to build trust and integrity. Businesses must function

As living organisms to develop and maintain consumer engagement during this uncertain time. They should maintain a flow of knowledge and resources and shed silo mentality. The recent technology adoption has re-written the rules and enterprises need to now embrace a beginner’s mindset, improved listening skills, and a drive to co-create and build value.

For the future consumer, the brand and its culture are irrevocably interlinked, and the brand’s core values will dictate its engagement with the technologically savvy consumer. In such a situation, an enterprise’s ability to learn, relearn and unlearn, becomes its superpower and the defining force behind consumer engagement.

Listening To The Consumer

With technology revolutionising the way enterprises engage and service consumers, it is important that businesses listen to customers with greater intent. Consumer experience is now the key to building a resilient enterprise. Businesses need to engage with consumers in all possible formats of interaction, ensuring that they are completely in tune with the customers’ requirements. This will further empower businesses to enable bright outcomes for their consumers. With technology playing such a major role in consumers’ lives and bringing everything to their fingertips, competition is bound to escalate. There needs to be seamless and fluid interaction, between the company and the customer for consistent engagement.

Embracing Digital

With consumer engagement gaining additional importance, digital adoption is the key to enhanced communication. E-commerce is booming and a report by Deloitte India and Retail Association of India expects the Indian e-commerce market to touch $84 billion in 2021, from $24 billion in 2017. Businesses are now adopting the hybrid work model to enhance consumer engagement, with much of the workforce working from home.

For the changed consumer, safety and accessibility are now part of the decision-making process and they are using technology to evaluate how to move, entertain, heal, how to work, where to eat, where to work, and how to shop, among other parameters. Every company needs to be digital to sustain impact and momentum.

Leadership & Consumer Engagement

Leaders today must focus on aspects such as health crisis, economic crisis, environmental crisis and global leadership crisis, while devising a sustainable model for consumer engagement. Business leaders need to build and develop trust while positioning their company for progress and resilience.

Efficient adoption of technology is the right answer here. Every enterprise needs to work in solidarity to decide best practices for the future. Undoubtedly, a company’s culture and value will create the new brand, and the changed consumer will choose and prefer brands that resonate with their experiences and requirements.

Rajiv Bhalla

Guest Author The Author is Managing Director at Barco Electronic Systems