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The Major Impact of Business Digital Transformation on Cost Reduction

As the business sector slowly bounces back from the economic turmoil caused by the pandemic, cost reduction is becoming more of a necessity than a choice. 

Unfortunately, traditional ways to cut costs no longer seem effective – what brings the most impact right now is digital transformation.

What is Business Digital Transformation?

Digital transformation means integrating new technology to create new or modify existing business processes and enhance the company’s culture and customer experiences.

Digital transformation transcends to roles like product development, marketing, sales, and customer service but also includes transforming how you think about and engage with your people and customers.

Source: technoworks.com

Key Aspects Of Reducing Costs With Digital Transformation

In every company’s efforts to maximize profits and minimize loss, digital transformation plays a crucial role.

Below are the ways digital transformation can help businesses cut costs and boost efficiency.

Centralized Software (Database)

Creating a centralized database benefits a business in many ways. First, it speeds up the communication within the organization. 

Second, it makes it easier to share information and analytics. Third, information is readily accessible to the entire company. All of these can save a business time and money.

A centralized data management system also ensures data security. With a central data repository, there’s no need for companies to store important data in multiple platforms which can be lost or stolen.

IoT for Equipment Maintenance

IoT-based maintenance allows companies to save money through its ability to predict and prevent equipment failure.

In asset-intensive industries, extensive maintenance planning can result in huge savings. With IoT, businesses can predict equipment maintenance costs by using historical data to make accurate predictions about asset health, utilization, and possibility of failure.

Using such data, IT or engineering teams can plan for optimal maintenance and inspection checks to avoid unplanned downtime.

Source: softwareadvice.com

Cloud Hosting and Migration

Many businesses have resorted to cloud solutions due to their apparent cost benefits. With cloud computing, businesses no longer have to invest in large and expensive hardware. 

Moving to a business cloud enables employees to access software programs online from different devices.

Cloud computing costs are often on a “pay as you go” basis, providing companies more opportunities to save on costs.

Automation Tools

Tools or software programs that cut down repetitive tasks can help reduce business costs and improve the efficiency and productivity of employees.

Business owners can simplify and optimize workflows through automation, which translates to lower overhead or labor costs. At the same time, automation helps reduce costly errors which often happen in most document processing and data entry.

Source: stratospherenetworks.com

Inventory Management 

Using inventory management software helps a company avoid expensive storage costs that often come with overstocking.

Such a program uses the so-called economic order quantity (EOQ) formula that helps businesses determine the ideal time to reorder a product and at what amount so they don’t have to pay more for storage.

Furthermore, inventory management systems use analytics to provide better forecasting, so a company can avoid understocking or overstocking.

These technological solutions can also be used to track all inventory items in real-time, so businesses can implement effective FIFO system strategies, thus, preventing product spoilage.

Source: shippingeasy.com

Workforce Management Tools

As more and more companies transition to remote and hybrid workforces, the use of workforce management systems has become a lot more common.

Traditional HR management is often time-consuming and is not always accurate. There are many benefits to using workforce management software aside from reducing the HR department’s operating costs. They include enhanced employee satisfaction, reduced compliance risks, and enhanced customer experience.

With this technology, companies can better implement time management strategies to manage tasks, teams, and projects efficiently.

Payments And Collections Management

The use of collections management software replaces manual processes, automates time-consuming tasks, and reduces potential errors. It allows businesses to keep track of expected payments and provide them with a statistical cash forecast.

For these reasons, companies that use collection management systems can reduce their financial and financing costs. 

Since they get paid faster, they can resolve cash flow issues and save a considerable amount of money, thereby reducing their dependency on high-interest financing options.

Source: deltatechnepal.com

Leads Management 

The right lead generation tools can help you get better leads, not just mere leads. In turn, your sales cycle will shorten dramatically, augmenting your income while reducing your costs.

Additionally, the right lead generation tools can help control your advertising and marketing expenses because they can show you which ads are working.

Another way the right lead generation tools help a company save money is by providing access to expert assistance. 

Instead of hiring an in-house marketing expert which can be very costly, many organizations choose to outsource lead generation to third-party teams that provide ongoing support at minimal rates.

Stationary Management and Administration

The use of a centralized database and data entry system can significantly reduce the amount of workplace stationery, including paper, business cards, folders, and other paper-based office tools.

Tools for record-keeping, accounting, payroll processing, electronic communication, etc. can significantly save time and resources.

Digital transformation can also be applied to day-to-day tasks, such as running social media marketing campaigns, scheduling appointments, storing and backing up files, etc.

With the right tools, businesses can optimize their workflows, reducing time, labor, error, and most importantly, costs.

In remote and hybrid work setups, digital transformation is crucial in getting things done. Technologies like video conferencing, collaboration tools, and project management are low-cost strategies that facilitate communication, productivity, and transparency.

Source: biposervice.com

Conclusion

If you wish your company to be ahead of the competition, it’s best to embark on a journey of digital transformation. 

Successful companies of today have automated unproductive tasks and adopted technological ways to handle business operations and engage more customers.

How to Deal with Difficult IT Concerns Remotely

As an information technology (IT) professional, you are an essential contributor to the success of contemporary businesses. We’re living in an age where it has become increasingly difficult for companies to thrive without the tools of our digital landscape.

Your expertise is a valuable component in day-to-day operations and data security.

However, your role is certainly not without its challenges. One of the key issues IT professionals face today is the growing adoption of remote operations. Dealing with problems and overcoming hurdles in these scenarios is no longer as simple as walking across the office and handling it personally.  

So, how can you best address difficult IT issues when you aren’t necessarily in the same physical space as computers, servers, or staff? 

Let’s go through a few elements you need to focus on to ensure your expertise is translated effectively across the geographical divide.  

Source: coinerblog.com

Reducing Vulnerabilities

One of the prevalent issues with remote operations is the sheer range of potential vulnerability points. The confines of an office are by no means entirely hack-proof, particularly where aspects of infrastructure are connected to a wider network. But when all members of staff are geographically disparate — sometimes across the globe — there is significant scope for things to go wrong.

As such, you need to treat addressing remote cybersecurity as a priority. According to one study, small businesses are at particular risk with 43% of all cyberattacks being targeted toward this type of enterprise. It’s vital to remain vigilant about where your remote practices can be strengthened against such attacks. 

Adopt a range of small but consistent efforts — two-factor authentication, data encryption practices, and firewall use among others. Keep abreast of current malicious focuses in your industry. Malware, phishing, and man-in-the-middle attacks can each be targeted at specific business models.   

You also need to put effort into not just developing but communicating your cybersecurity protocols. Your range of tools and practices can’t be effective if people don’t know why they’re important. Create a range of communication materials that simply but effectively pass on information about present risks and how to mitigate them. Update these regularly.

Preventing cybercrime can also come down to employee behavior. A recent study found 47% of business leaders reported human error was a factor in data breaches. You can’t be there to hold everyone’s hands all the time, but you can design elearning training courses. Use screen capture software to take employees step-by-step through using online tools safely. Provide screenshots of phishing messages so they know how to recognize them. Host discussion sessions over video calls to assess your workers’ level of understanding and address any anxieties they may experience on the subject.

Source: compexit.co.uk

Facilitating Collaboration

Some of the most challenging IT issues require multiple team members’ contributions. This may involve professionals from different departments or with varied IT skill sets to tackle a project. It might be that the problem in the network can benefit from the knowledge and perspectives of more than one expert. In remote operations, you can’t just all head into a meeting room to attend to this. You have to take a flexible approach to facilitating IT collaborations.

Your first consideration has to be geared toward making this practical. Teamwork in a remote setting isn’t going to feel natural for everyone, so you need to adopt collaborative tools and practices to keep each member involved. This includes the basics of making certain there is a fair and mindful approach to time zones if your team is spread across large distances. You should also consider the addition of virtual whiteboard platforms alongside your video calling software. These keep the details of the project visible while allowing professionals to contribute ideas no matter where they are.   

Aside from the body of the meetings, it is vital to take a strict approach to organization and documentation. You may have developed some great ideas for solutions during brainstorming. But unless good notes have been taken, there is a chance for priorities or activities to get confused. 

Make sure a summary of the meeting and next steps is emailed to each team member. Keep a running document stored on a cloud service all colleagues have access to. It can be wise to limit editing privileges of these documents to the team leads so there is always an accurate master plan. 

Source: inspiringleadershipnow.com

Empowering Colleagues

Some of the most difficult aspects of IT in remote teams don’t come down to especially complex network procedures. It’s the sheer inefficiency of having to adopt additional procedures to handle every problem a remote worker may have. Having a non-expert worker attempt to explain a problem to you, then perhaps use remote desktop software to go in and deal with the issue still eats into your day. 

It can therefore be worth developing procedures to empower workers to handle some issues themselves. Give employees training on solving internet connectivity problems and reducing overheating when running complex software. Help them recognize the need to clear the cache to free up disk space if a computer is running slower than usual. It can be wise to include these as part of the onboarding process.

You don’t need to make workers into IT experts, it’s just a case of making sure they can get moving ahead rather than disrupt your mutual productivity in seeking simple solutions. It can also be wise to talk them through troubleshooting their issues and documenting the results. This can ensure that if they must come to you for help, you don’t need to look through the basics first. They can provide you with an accurate account of everything they’ve done.

Among the benefits of this approach is it creates a stronger culture of technological literacy throughout the organization. It also helps workers to feel more confident in their actions and in control of the tools they use every day.

Source: esphr.co.uk

Conclusion

IT issues are often made more difficult in remote circumstances where you don’t have physical access to machines. You can make an impact here by putting procedures in place to reduce the vulnerabilities that cause problems in the first place. 

Facilitating collaborations with remote tools can mean IT teams can address problems effectively wherever they are. It can also be a positive step to work on giving colleagues the tools they need to solve simple issues themselves. 

With some additional effort and planning, these steps can help make sure the company’s systems run smoothly.

8 Most Common Content Marketing Strategy Mistakes And Ways To Fix Them

Content marketing is one of the most important yet the trickiest strategies to position your business as it may be difficult to consistently create content that resonates with your target audience. The challenge of balancing SEO with smooth and natural flow is seemingly impossible at times. And with so much content available online, it’s harder than ever to produce pieces of content that stand out from the crowd. 

An effective and creative content marketing strategy might help in this situation. A good content marketing strategy could be the difference between successive viral content posts and posts that gain no exposure. Creating a strategy that maximizes the return of your investment (ROI) takes a lot of trial and error and even the most experienced content marketers make mistakes. It appears to be a natural and inevitable part of honing your content marketing strategy. 

Thus, it’s important to embrace your content marketing missteps and leverage them to develop a better strategy. 

We will explore some of the most common mistakes in content marketing strategy, show how to fix them, and which lessons to learn from them. 

Source: contentplus.co.uk

Lack Of A Written Strategy

When it comes to content marketing strategy, clear direction is crucial. 

It’s hard to achieve results if you’re not entirely sure what you’re trying to achieve in the first place. You might have frequent meetings to discuss your content marketing strategy, but it’s a good idea to have a written document detailing the strategy. 

To clarify the direction and objectives of your content marketing strategy, you should create a document and share it with the entire team. This can be a ‘living’ document that evolves with your strategy. 

Revisit the strategy as a team often to identify any areas for improvement and adapt to the interests of your audience. A written and shared document ensures that everyone is on the same page, literally, in terms of content marketing strategy,” explains Michelle King, a content strategist at Revieweal and UKWritings.

When creating your marketing strategy document, here are some essential factors to establish:

  • What are your goals? 
  • Who is your target audience? 
  • Who are your biggest competitors? What do they do well? 
  • What keywords are your viewers searching for on search engines? 
Source: clicksandclients.com

Ignoring Insights From Data 

Data is now one of the world’s most valuable resources for a good reason. 

Data offers businesses the opportunity to gain an understanding of their consumers. Despite this, some companies still make the same mistake of determining their content marketing strategy without using data. 

Many teams try every possible topic related to their niche and hope that at least a couple of them gain traction. While this is a fun and flexible approach to content creation, it doesn’t exactly produce the best ROI. If you’re lucky, a piece of content might reach your intended reader. However, this approach to content strategy is not helpful for consistently high-performing articles. 

Instead of ‘winging it,’ develop a well-informed content marketing strategy based on data. Insights into the patterns and behaviors of your target audience can help you identify topics for blogs and your content in general, with the most promising ROI. 

To leverage data in your content marketing strategy, observe the most discussed topics on social platforms pertaining to your niche. Similarly, you could analyze the leading competition and their highest ranking posts on search engine result pages (SERPs). 

Source: contently.com

Focusing Solely On SEO 

Yes, SEO is essential to creating content that reaches its intended audience. But to focus only on SEO is a mistake. Writing for search engines might help attract readers to your content, but it’s not likely to engage their attention. The practice of prioritizing keywords over the quality of writing is sure to backfire.

If your content is evidently not written with humans in mind, readers might permanently lose interest in your articles.

As opposed to writing with the intention of ranking high on SERPs, create content that aims to provide value to your readers. Write articles that pique their curiosity, evoke emotional response, and engage thought. 

Source: contentmarketinginstitute.com

Skipping Keyword Research 

Although SEO is not everything when it comes to content marketing, it does matter. One of the best ways to rank high on SERPs is through keyword research. Keywords play a huge role in content optimization. Skipping out on this process is a common, but easily fixable mistake. 

Keyword research enables you to optimize your content and give it the best chance of reaching your intended audience. Here are some strategies to try when researching keywords: 

  • Research keywords that your biggest competitors rank highly for. 
  • Research keywords based on the most significant and relevant topics to your business. 
  • Research keywords under related searches. 

Absence Of A CTA

You’ve done the work of researching a viable topic, produced content that balances SEO with writing that flows naturally, and you successfully attracted readers. Without a call to action (CTA), you lose out on this perfect opportunity to convert one-time readers into long-term subscribers. With so much focus on creating valuable content, it’s easy to forget to actually market your business within the content itself. 

Ensure that each content post includes a clear CTA. Encourage your readers to engage in the comments, and subscribe for more content. 

Source: creativemotions.it

Creating Content For Everyone 

It’s easy to lose track of exactly who your content is for. 

Producing content intended for everyone and no one in particular is one of the most common content marketing mistakes. When you fail to target a specific reader, your content will have a harder time reaching anyone. It’s challenging to create content that engages readers when you have no idea who the reader is. 

“To avoid content that is simultaneously aimed at everyone and no one, identify your ideal reader. Top-performing articles have an intimate understanding of who their reader is. The content performs well because it provides valuable solutions while engaging their readers,” says Barry Oliver, a writer at Elite Assignment Help and Custom Writing

This wouldn’t be possible without identifying a target audience.

Source: medium.com

Overlooking Social Listening 

When you have extensive experience in content marketing, you understand your target audience intimately. Regardless of how well you know your readers, they could still surprise you. 

Overlooking the practice of social listening means potentially missing out on trending topics and important keywords. 

Social listening offers the chance to monitor, analyze, and engage in conversations with readers on social media platforms. 

This is one of the best ways to gain insight about your readers because it comes directly from the source. To start social listening, follow any relevant hashtags to your brand and your industry. 

Source: dottsmediahouse.com

Neglecting To Review Performance 

One of the most costly content marketing strategy mistakes is failing to review how your content is performing. A review allows you to identify the parts of your strategy that are working and those that aren’t. 

Reviewing your content marketing performance at least once every quarter is a good idea. 

If you want to achieve growth as quickly as possible, consider monthly reviews. Analyzing your content marketing gives you the opportunity to continuously improve your strategy. 

Conclusion

If you’ve ever made any of these common content marketing mistakes, the good news is that you’re not alone. 

These common errors are easily fixable and offer valuable insights into content marketing. While content marketers should attempt to avoid these mistakes, what matters more is how they use their errors to improve their content marketing strategy. 

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Emily Henry is a content marketing manager and editor of Big Assignments and State Of Writing. She writes articles on content marketing strategy and consumer engagement tips for various websites and publications, like Paper writing websites reviewed

5 Ways You Can Use Big Data To Make An Impact In Marketing

For people in marketing, it’s impossible not to have heard of Big Data before. 

However, you may not be totally sure about what it is, and how it can impact you and your work. What’s important to know is that it can really change the way that you market to your audience. 

Here’s some of the best ways you can use big data to make a real impact.

Source: ibm.com

Personalise Your E-commerce

E-commerce has totally changed the way people shop, and you want to make sure that your customers can find you and your products. When you have access to Big Data, you can ensure that you’re reaching your audience in the most efficient way possible. 

When you use analytics, you can predict user preferences, offer recommendations, and more. For example, many businesses are using data to optimise their pricing. This allows them to analyse marketing data, sales history, and company accounts to see what the best price is. That should allow you to bring in more customers and get maximum profit. 

There are companies out there that have used data to bring a more personal shopping experience to their customers. Shopify suggests that E-commerce sites use something called product-detail page (PDP) recommendations to guide shoppers to the products that are based on their browsing history, locations, and more. 

For example, take Very, which uses real time data to personalise the experience their shoppers have. It uses the weather data from the customers’ location, and uses that to recommend outfits from the store. Hot weather will result in recommendations for summery clothes, while wet and cold weather will offer them sweaters and raincoats. On top of this, the banner at the top of the page will show the shopper’s name, when they visit the site to browse. 

These details are small on the face of it, but they will ensure that customers feel valued, and are seeing products that are relevant to them. 

Source: bestarion.com

Create More Relevant Content

Content marketing has been one of the best ways to bring in more leads for a while, allowing you to give your audience the content that they’re looking for. When putting resources into your content marketing, you should look into your data to improve what you’re offering. 

It’s so vital that you’re customising that content to meet your customers’ needs. With so many companies out there competing for your attention, you need to be on the ball and bring something new and interesting. 

You can look at Coca Cola to see what they can offer their customers. They pay close attention to their customer data, so they can improve marketing all the time. ‘They focus on things like social media mentions, customer service channels, and more‘ says Fiona Marron, a business writer from Lia Help and Paper Fellows. ‘That allows them to get a closer look at what their customers are looking for.’ 

Source: gonextpage.com

Improve Marketing Budget Allocation

There are more marketing channels out there than ever before. Because of this, you need to take great care in selecting the right channels for your business. It’s not easy though, as buyers are often moving through different channels, and you can’t quite pinpoint where they’re buying from. 

You can do more though, with Big Data. You can get a closer look at how those marketing channels work, and understand where you’re getting the most value. With this in mind, you can start allocating more cash to the marketing channels that are working more for you. 

Marketing blogger James Rainier from Boom Essays and Essayroo says, ‘AdriaCamps are a good example of using big data to understand where to place your marketing budget. They understood that they could focus on SEO and email marketing, which led to 66% more bookings overall‘. 

When you know where that money should be spent, then you’ll get better results. 

Source: pinterest.com

More Effective Marketing Testing

When planning any kind of marketing campaign, you need to test out your plan to see how it will work. In the past, this hasn’t been an exact science and so there were always holes that you wouldn’t find, until you set it into motion. 

Businesses are now using Big Data to test out marketing plans more thoroughly. You can test out multiple variations of a plan, and get data and ideas to see what will happen. It’s so useful to have such data, as you can get much more from your marketing with it. 

That’s something you’ll see from iCloud, which uses Big Data analytics to understand it’s marketing funnel. It took a look at how their customers had to interact with their site, in order to interact with their latest marketing efforts. 

With that information, they found the step where customers often abandoned a purchase, and made improvements to reduce that number and increase their revenue. 

Target Advertising Better

You’ll always be trying to market your business to the right audience, and Big Data can help you improve your efforts here. As you have access to data on what your audience do and where they spend time online, you can target your advertising more effectively. 

You can see The Weather Co. doing this with their marketing. They’ve seen a 10% sales increase in certain products, after they’ve used customer location data to recommend products to people in certain climates. 

Conclusion

There are so many ways Big Data can improve your marketing strategy. With these 5 strategies, you’ll be on your way to improving your marketing schemes for the better!

Start analysing your data, and see where you can start making improvements in your marketing today!

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Christina Lee is a project manager for Essay service and Academized. She focuses on marketing news and technologies, for them and services like Ox Essays.