Digital Transformation in Malaysia
Digital Transformation in Malaysia is not just a buzzword as it becomes a core concept to many business models. In this article, you will learn why it is a core concept of a business.
So basically, digital transformation is a process of transitioning a business from traditional style platform to a digital model. There are various things to go into this. Therefore, let’s take a look at how it actually works for both sales and marketing.
Digital Transformation can bring you more sales and branding compared to the physical world of phone calls, billboards, mails,flier and so on. The old school techniques are still working but there are becoming less effective as digital transformation is taking over. Why is this happening? The main reason is that people are now buying things online more than over instead of walking into a shop to buy it. I bet that you heard of the word “showrooming”? This is a term that retailer use them for people who go to a shop to know more about a physical item that they have searched on the Internet.
The word “Best Buy” in particular had this happen so frequently that it has become part of a business model, hoping that it can make people to buy the product in the store through their site.
But the question is that “What if you have a service business instead of a retail business?” Then, you are in trouble. Customer will to let their fingers do the walking with Yellow Pages anymore. Instead, they are now transitioning to websites like Yelp or Angie’s List. Yelp has a huge advantage over the traditional advertising. The reason is that they display more information and also they provide social proof of real customer reviews.
Customer reviews or social proof are major force when it comes to online reputation. People used to call this as word of mouth advertising but now sites such as Yelp are currently allowing a single person’s voice to reach out to the entire market. This is called digital-mouth advertising.
What Happens If The Business Do Not Change?
Without a digital transformation, businesses would most likely have to rely on a core group of customers and will not be able to grow big in the long run. Smaller businesses that succeed in digital transformation will have an upper hand when compared to those who remained. The future is uncertain for those businesses who decided not to adapt themselves with the digital changes.
If a business fail to adapt to the fast-changing wave of new technologies will usually affect the manner of doing business. For those who managed to meet these kinds of challenges can easily turn them into great opportunities.
People always ask if digital transformation is only about technology and also outsourcing? The short answer for this is a “No”. It actually inovlves innovation to connect with things like data science, devices, design, technology and many more. These are the fundamentals which are going to institute change in customer experience.
Basic Online Presence Is Not Enough For Digital Transformation In Malaysia.
You may think that you are staying ahead with the digital transformation in Malaysia. You just build a website and some online presence. Sadly, this is not enough. Many business websites do not have much information compared to a standard Yelp page. Social media has become like a billboard than a customer interaction kind of platform. If a visitors want to change a specific detail, they need to go back to things like the telephone or basic email in order to contact you.
The fundamental to increase your online presence is you need to move from a pure marketing standpoint towards sales and digital marketing. Besides that, it is important to track customer data over time to build a strong relationship with an individual vistors, asking them to convert again till they have become loyal customers.
With today’s technology, it is possible to achieve this. If you try to use Facebook without an ad blocker on and you start to like a few business pages, talk and share about this topic. You’ll notice you’ll get advertising related to what you like and share.
Other than that, companies can get marketing data on you after you have visited their site. You can use Facebook pixels to install into your site to track individual visitors as they come and go from your website. This allows you to perform remarketing ads where they’ll see your ads again and again.
Digital Transformation In Malaysia Is Vital Now.
Digital Transformation in Malaysia is gaining more importance. The reason is that Asia is fast becoming a key area for digital innovation. About 50% of the Internet users are estimated approximately three billion in this region as Asia is one of the largest regional e-commerce markets.
By the year 2025 to 2030, technologies like the mobile Internet, cloud technology,3D printing as well as the Internet of Things will make up at least 30% of Asia ex-Japan’s economic growth. With the increase of business activities in Asia, it is not surprising that the region has become an important hub for lots of businesses.
With the increase of people purchasing online and new digital marketing strategies coming in, old business model that uses traditional marketing cannot compete much longer!
With decreasing retail sales, more people buying online, and new sales and marketing tactics smashing competition through the digital space, the old business models can’t compete for much longer. If this article has sounded a chord of panic in you though, don’t worry because knowledge is power. Get started today and start the transformation now before you get out-transformed by your competitors!
The PORTMAN Education Group
