Change is inevitable. The new normal calls for considerable changes in the way we conduct business operations. Whether it is marketing, research, or operations management, rapid changes are taking place in every field.
How can businesses make sure that they survive and grow in the new normal?
Some key areas where companies can focus are listed below.
In the wake of the pandemic, it has become critical for every business to establish an online presence. For instance, food and beverage businesses are leveraging technology to sell products online. Due to the social distancing norms, people are not visiting supermarkets and preferring e-commerce platforms instead.
Through online platforms, customers can easily see and track their orders, refund items, and give feedback about products or services.
Companies need to work on many aspects of e-commerce platforms. For instance, data management, price monitoring, reputation management, and customer support are the essential components of a successful e-commerce platform.
Due to the pandemic, many businesses have shut down. Companies are struggling to survive during the crisis. During such a phase, companies can take actions that reduce their costs. AI and robotic process automation are two ways to achieve this goal.
Artificial intelligence can be used for multiple purposes, like sentiment analysis, chatbots, and character recognition. It can reduce costs if the need for employees ends. For instance, a company may employ fewer customer support executives if chatbots respond to most queries.
There has been a shift from traditional marketing to content marketing. Statistics show that content marketing generates three times more leads than content marketing.
It also costs 62% less than the expenditure spent on traditional marketing.
Companies can change their lead generation techniques. Face-to-face marketing is on the decline, and face-to-face collaboration applications are being used. For example, a digital marketing company can generate more clients through e-mails. Investing in customer research may also help companies define their prospective clients easily.
Customer analytics involves combining techniques like data visualization and predictive modeling. They help businesses understand their customers and how they can adapt their marketing techniques according to their preferences.
During the pandemic, people are opting to work remotely. Research shows that 55% of US employees would prefer to work remotely even after the COVID-19 pandemic comes to an end. (Source: pwc)
Companies must make sure that they can manage data correctly. Managing data on online platforms limits the need to visit a physical location. Keeping many files at a physical place is not as efficient as managing online data.
Data management services can help firms view their customer and supplier data at a central location.
Apart from data management, businesses may need to clean data. This means that data should help you reach the right people to target. For instance, a marketing agency must be able to reach decision-makers, such as CEOs or founders.
Companies have moved to online platforms. Unfortunately, users are posting harmful content on these platforms. This content can harm the reputation of an application or a social media account.
Companies like dating applications or networking applications may benefit from content moderation services.
For instance, robots can automatically remove hateful comments. This can be done by identifying a list of keywords (for example, negative slang to describe individuals). Any posts or comments with the keywords are removed. This ensures that all users have a positive experience on the platform.
If you're looking for a company that can help you streamline your operations in the new normal, consider Transform Solutions. Transform Solutions can assist you with processes like data management, data cleansing, content moderation, artificial intelligence, and robotic process automation. Know more about what we can offer by visiting our services page.