There is a seismic shift in how you as a business should be creating, thinking and evolving this century. We are moving from an industrial age where the assets with value were solely physical but with the rise of the global knowledge economy the importance of virtual digital assets and technology is becoming significant. Digital assets can be broken into two online media asset categories:
- Owned Media: This starts with the website, online store and blogs
- Earned Media: This where you earn online attention and includes earned media from customers, fans and advocates
Building owned digital assets is key for primarily B2C enterprises because customers get to interact with you directly. For example, a huge retail giant selling clothes, bags, shoes and accessories has invested over INR 2 Billion in technology aimed to promote online shopping. That actually makes up for 50-60% of its cash flow. However, what if we told you that the sales have also increased by a whopping 50%?!
Another example of growing business exponentially through digital investment is that of a gigantic car manufacturer. This manufacturer enhanced their digital properties to such an extent that its customers preferred an online test drive to an actual one. The user experience and details provided were so cutting edge that car sales men were happier to get calls from educated and excited potential customers!
At the end of the day, information exchange is key for consumer goods manufacturers, retailers, media and entertainment, professional service providers, and internet led businesses. The first step in growing your global business is to organize your digital assets: images, video, and rich media. Think of a fast food restaurant that sells burgers. Each ingredient is stored in an easily accessible, labeled container to make building a burger in a quick and seamless process. All of your digital assets need to be labeled, organized, and properly tagged within the digital asset management system so you can quickly find the digital image and videos to present to the customer in real time. Websites are your digital platform and the customer’s gateway to your brand. It could be a corporate site or an online store or both.
eCommerce sites are primary assets for retailers and B2C companies. Ecommerce can be leveraged with a mobile app or a mobile responsive website that adapts to any screen size for easy media consumption. Ignoring this can reduce sales for online stores, engagement on blogs and the viewing on corporate websites. The lesson is this: The digital shopping experience has to work seamlessly on every screen and especially well on mobile devices. Images and videos need to be scaled to the device and across all digital channels.
PeriGrow works in conjunction with various SMEs in the real estate, family business, retail, manufacturing, financial services, media & entertainment, internet-led business sectors. For those SMEs who are looking for expert direction and guidance in joining #DigitalIndia movement, a consultation is the first step within our #UCanPeriGrow program. A consultation can be arranged by contacting PeriGrow via email: email@example.com or phone: +91 22 6117 4910.