As we all know, the recession has hit the ground worldwide. During a recession, many businesses turn to digital transformation to survive. This can be shifting to online sales channels, implementing cloud computing solutions to reduce costs, or adopting automation technologies to streamline workflows and reduce labour costs.
Working for many years with many diverse clients across verticals at zazzy, I strongly feel it’s essential for businesses to follow new technological trends and embrace digital transformation. Here are some reasons why businesses need digital transformation more than ever in these uncertain times:
Improving communication, streamlining processes, and personalising customer interactions are all ways brands can enhance consumer experience without breaking the bank. The best way to fasten this process is by leveraging new technologies and making them work for the brand. For instance, I know at least five brands that have integrated ChatGPT with their existing workflows to manage customer queries and help them resolve issues faster.
I’m a big fan of data and obsessed with tracking as much as possible. I believe you can improve something if you know where you stand! Businesses can leverage existing data sources, such as website analytics and customer feedback, to gain insights into customer behaviour and preferences. By implementing data-driven insights into their operations, brands can make more informed decisions and optimise the overall execution strategies for maximum impact, ultimately improving their bottom line in a recession.
Many of these involve internal and operational processes. Streamlining these processes and using proper tools will increase multi-team collaboration, better decision-making capabilities and overall operating efficiency. Ultimately, digital transformation can help businesses to weather the storm of a recession by enabling teams to work more effectively, leading to better outcomes for both the business and its customers.
From my personal experience in the industry, digital technology can help businesses expand their reach faster at lower costs. All it takes is to analyse where the brand is standing and where the brand is heading, realign the direction and implement adequate technology to support this transformation.