No one had ever imagined where 2020 & 2021 would take us. The recent events pertaining to the pandemic have led to a profound digital acceleration, at scale. Looking forward to 2022, new applications of technology & data, and business models are all set to disrupt the landscape.
Recent times have tested the ability to meet customers where they are (at all touchpoints), via digital channels. While some who embraced the changes and prepared themselves for the disruptions thrived, others have struggled. With the evolution of customer needs & changing market landscape, only those businesses who develop digital capability can compete & stay relevant.
The Pandemic Pushes the Shift to Digital Economy
Fueled by the pandemic, whether willingly or unwillingly companies all over are adapting to digital transformation. The mandated lockdowns and current business landscape has changed customers’ habits & expectations in unimaginable ways. What’s more important is that these customer habits are going to stick even in the post-pandemic era. To better compete and stay relevant, businesses today need to see the world through the eyes of the customer & embrace the latest trends.
“A report on digital transformation by KPMG, which surveyed their client base found that 67% of the respondents accelerated their digital transformation strategy since the pandemic.”
Simply put, those who want to remain in business have to keep up with the latest digital transformation trends.
To build a smarter business, avoid the fallout from the rapid changes, and increase your competitive edge, here are the top 5 digital trends & disruptions that you should prepare for…
- The digital future is about “discoverability”.
Gone are the days when merely having a presence on social media was or building a website was enough. By 2022, you will have to be present at all the touchpoints where your customers are. Additionally, to set yourself apart and drive engagement, you need to focus on delivering personalized experiences! What message you show, how well your address the customer needs, how you portray your brand, and how you connect with your customers will ultimately become the differentiation factor that will set you apart.
In simple words, you must show up in the right place, at the right time, on the right device, only then you can grab the attention of your customers. Without discoverability, nothing can help you!
- Greater reliance on data-driven solutions
Recent months have seen drastic changes in terms of data usage. As part of the growing importance of data, using & extracting rich insights from customer data will not be just an option but a necessity to survive and ultimately thrive! To stay relevant in the competitive landscape, you will have to deploy new technologies and approaches to make the best use of data. Advanced data capture, data processing, data management, and data analytics techniques will identify connections among random data and help you draw insights to foster your division-making.
Additionally, next-generation cloud-based data stores & CDPs (Customer Data Platforms) will support complex modeling. As companies are dealing with a lot of “bad data”, CDPswill help solve this problem by collecting data from all different sources, organizing it, and making it usable for anyone who needs access to it.
- Workforce of the future ecosystem will be digital
The future disruptions will impact every aspect of the business. While the pandemic has already reinforced work-from-home set-ups, it is important to know that even in the near future, remote working and hybrid working will continue to exist. However, your job is not just to embrace these changes but also to ‘shape’ your workforce to ensure that your resources can access & develop skills they need in the new workplace culture.
With the workforce becoming digital, by 2022, many enterprises will have to recognize and radically change their structure and take strategic reskilling initiatives through eLearning tactics. Additionally, shared services, outsourcing, partnerships, alliances, will be more common approaches to get the work done.
- Technologies like AI & ML will lead digital transformation
Companies are already making great use of technologies like Artificial intelligence & machine learning to improve their business outcomes. however, in the near future, the importance of AI & ML will only grow. AI & ML will further support businesses by automating business processes, gaining rich insight through data analysis, and engaging with customers and employees.
In fact, the application of AI & ML goes much beyond. You can use AI & ML for:
- Better personalization & sales prediction
- Safeguarding sensitive data of your business
- Enhancing recruitment processes
- Providing online customer support
- Getting intelligent business analytics, etc.
- ‘Digital’ will meet ‘physical’
Looking ahead in 2022, things will start getting back to normal (hopefully), customers will already be familiar with digital interactions to conduct their everyday lives, whether working from home, online schooling, or shopping. Yet, along with the digital interactions, the customers’ will also embrace in-person interactions. This implies that customers will no longer be satisfied with only physical experience or digital brand experiences- rather they will expect a blend of both!
Highly personalized, in-person experiences without compromising the online interaction and digital presence will be the key to success! In the next 4-6 months, we expect in-person and digital experiences to become more seamless and intertwined tailored to customers’ individual behaviors, attitudes, and preferences.
Gear up for these disruptions & trends to master the digital future of the industry and gain a competitive edge!
