Digital transformation plays a leading role in businesses’ life expectancy, while integrated digital technology is making the difference across multiple firms’ sectors.
Moving out of the comfort zone works interdependently with experimenting often. Howard King, once said: “Businesses don’t transform by choice because it is expensive and risky. Businesses go through transformation when they have failed to evolve.”
Social media can be seen as a real asset for businesses. “Being social” does not only mean communicate, learn or have fun.
Social networks can be seen as a key tool for people that want to grow their business, engage with their audience and extend their brand reach. According to Digital in 2017 Global Overview report, there were 2.8 billion active social media users and almost every startup company uses the word “social” in their business plans.
Today, Facebook, Instagram, LinkedIn, Tweeter and Google+ are some of the most commonly-used means that help corporations build a strong brand name, increase easily brand awareness and loyalty and maintain better relationships with customers.
A striking example of understanding the power of social media in digital transformation is the hospitality industry. When it comes to a trip, 38% of Boomers rely on online reviews to help them research and plan a trip, 43% of Millennials turn to Instagram for trip planning and inspiration, 57% of all travel reservations for accommodations, tours and activities are made online, 83% of people will not book a hotel before reading online reviews and comments and 95% of leisure travelers read at least 7 reviews before booking their holidays.
Segmentation, Targeting and Positioning was all along an extremely efficient strategic approach of generating a huge amount of data about customers in real time. Social media is capable of gaining valuable customer insights either from the tweets, likes, posts or shares they make.
Digital transformation for business is no longer optional; is everywhere on the agendas of corporate boards. There was a time when social media was considered by some as a passing fad. But, time has changed and in today’s world social media is here to stay. Moreover, the value of the idea of “being social” lies in building reciprocal relationships between the brand and the potential customers.
Data Source: aryxe.com