The move to digital commerce has led to a need for development in how businesses market and sell their products. Here are just a few of the ways digital technology has transformed the field.
E-Commerce
One of the most prominent features is the rise in e-commerce platforms. Businesses are able to offer their full range of products and services almost exclusively online, allowing for ease of access to customers. In fact, Nasdaq has estimated that by 2040, 95% of all sales will be conducted through e-commerce.
Digital Job Outsourcing
Teams no longer have to have all of the skills necessary to accomplish digital marketing or other projects. It is now possible for organizations to outsource certain tasks to third parties online as a way of improving their marketing without adding any new hires.
Networking
Connections can be made online, whether it be through social media platforms, like LinkedIn, or virtual conferences. Networking in person, or even over the phone, may be outdated; clients and customers are all on the Internet.
Data Solutions
By allowing customers to review and buy services online, you get a better idea of what it is they want and need without asking them. Analytics can be gathered automatically, which can show what your business does well, as well as what areas of improvement might exist.
Demand Generation
Digital demand generation refers to the way businesses create a need for their products and services among their target audience. This is somewhat similar to lead generation, but the demand is created entirely online through digital marketing. One way to achieve this is through re-marketing to build brand awareness.
As up-and-coming technology continues to change the way business is conducted, it is important to be willing and open to adapting practices to best suit the needs of your audience, as well as the capabilities of your company. Staying on top of current trends in marketing and sales, as well as listening to what customers may need are some of the best ways to stay ahead of the changing digital landscape.