BMG 814 digital transformation

BMG 814
olanrewaju disu
B00858154

DIGITAL TRANSFORMATION
Introduction
More than ever, businesses are banking on digital transformation to increase their success. One
of the reasons is that the marketing landscape is constantly changing, leading companies to find
new ways to adapt and compete in the digital realm. Using modern technologies, businesses can
improve the customer experience, automate processes, and help employees be more productive.
This strategy should be used by companies that do not want to lag behind their competition. The
scope of digital transformation includes the management and use of digital 5Ds that enable
brands to interact with their customers and learn more about their customers.
 Digital Devices - Businesses need to consider all the devices their consumers use to
communicate with them, including a mix of connected devices like cell phones, PCs,
game consoles, and more.
 Digital Platforms - Businesses need to decide whether to use social media platforms like
Facebook or search engines like Google to identify their target audience.
 Digital Media - What forms of digital media is each platform capable of supporting? Will
the communication channels be for-profit, for-profit, or for-profit? What are you going to
say, and how will you say it?
 Digital Data - Any marketing strategy should be influenced by data from digital sources.
Examples include market research, campaign analysis, and data captured by IoT devices.
 Digital Technology - To create engaging experiences, organisations must use marketing
automation tools, according to digital technology.
Various industries have different requirements after implementing 5D digital transformation.
However, an industry-wide rule of thumb must be followed. Here are some examples of rules of
thumb or situations:
 SWOT Analysis: Strength, Weakness, Opportunity, Threats;
 Customer Analysis: What kind of audience to interact with online, their demographics
and how they respond to the media they use.

 Competitor Analysis: It is good to see what your competitors are doing before
implementing any company strategies. What strategies do they use to compete across the
5Ds of Digital?
 Channel Performance Analysis: Analyse the performance of each marketing channel to
see how well it is operating and what influence it will have on your business.
Online Shopping Vs Traditional high street store.
With barred windows and ‘close for sale’ signs against a backdrop of trash scurrying through the
air, dark skies and rows of book stores, bookies and pawnshops, watching the news these days
gives the impression that the direction of the street is approaching disaster. Even though the
prognosis is not ideal, street vendors should put their coffin nails on hold for now.
Due to the advent of internet shopping over the past few decades, many analysts have predicted
the extinction of high-quality retail, at least in the form we have known. Indeed, with 35,000 UK
retail jobs lost this year, leading retailers like Toys “R” Us, Maplin and Poundworld are closing
their doors, and others like Mothercare and Carpetright are concluding voluntary trade deals this
death seems inevitable. This decline has many reasons, including the tightening of the purse
strings due to years of post-recession austerity and the dramatic growth of online shopping and e-
commerce giants like Amazon and ASOS.
As a result of these conditions, CEOs across the country face cameras, blaming their failures
directly on their cheaper internet competitors. The truth, however, is a little more complicated
than just the money. Of course, Internet companies do not have the high overall costs of
managing a physical store, especially with many locations.
For the reasons mentioned above, Alibaba has launched New Retail, which digitises
conventional retailers and coexists with online stores. Alibaba achieves this through a variety of
methods, including:
 The Supermarket: Shopping offline is a complex process, especially if you have to wait
for a long time at the checkout. Buying online is cheaper, but there is no guarantee that
you will receive the same package provided or received by the online supplier at the