Digital Business Models and new business models in the digital economy continue to come with strong steps and take a permanent place in our daily lives.
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Digital Business Models Are Altering The Competitive Landscape
Digital transformation is now a reality. We feel the effects of digitalization on our lives, society and business world more and more every day.
Organizations and business models are transforming Digital business models are altering the competitive landscape and presenting new options. While digitalization offers many opportunities, it also poses a threat to those who cannot transform and adapt to the new competitive environment. Traditional market leaders have to transform to stay in place.
According to Cisco’s 2019 Mobile Visual Networking Index, which provides information on the internet globally, every year, by 2021, 70% of the global population will have more than 1 internet connection per person.
Mobile devices are spreading so fast that by 2021, there will be more people with mobile devices (5.4 billion) than people with access to electricity (5.3 billion) and clean water (3.5 billion) and own cars (2.8 billion).
Mobile Platform Gains Great Importance
Digital business models : Competition is increasing with new business models and new competitors. For example, Apple competes with the traditional watch industry, automotive manufacturer Tesla also competes with energy companies.
Undoubtedly, one of the most striking changes of this period is the exponential increase in internet connections and the fact that mobile internet usage now surpasses PC usage.
Marketing is also transforming in the digital age. Customer Experience and the customer journey are changing.
As a sales and marketing channel, the digital and especially the mobile platform gains great importance and becomes a priority. With the increasing number of mobile devices and connections, our customers who are constantly online become more active in the sales and marketing process.
Research shows that most customers make the decision to purchase a product or service by researching online long before reaching a point of sale or sales manager. For this reason, we need to be able to give our customers the information, service and product whenever they demand.
Of course, with equally good standards on every channel they choose.
Digital Business Models. Keep Up With Change
New Digital Business Models in the digital economy: People who still do not want to understand the blessings of the digital world should understand these last few years well.
The COVID-19 Pandemic has shaken the balance of the world, digital business models are no longer a fantasy fiction. On the contrary, these business fundamentals are a solid reality.
All humanity is under a deep social and economic impact. We had a difficult time and we continue to experience it. Just when we say everything is over, Covid 19 continues to threaten us with its new variants. And God knows when this will end. Or will it end?
It is difficult to foresee the impact of this period on the national economies, but it is a fact that many conventional business models have changed and will continue to change.
The most valid opinion we can express for this period is that the virus has accelerated digital transformation and new Digital Business Models in digital economy of the future.
The Covid -19 pandemic continues to deeply affect many issues, from everyday shopping to ordinary activities. Undoubtedly, even our working habits could not resist the change.
Digital Business Models : Covid-19 And Mobile Technologies
Quarantine practices against the epidemic created an opportunity for the integration of technological developments into human life all over the world.
In the context of the measures, since many stores were physically closed, it started to serve only online.
Grocery stores remained open, but purchases were made through on-demand grocery service apps or supermarket chains’ online platforms. Thus, interaction with other people was minimal.
What Will Happen?
Digital business models and changes.
The predictions are that our view of life will change drastically. In the upcoming period;
- Working from home will increase
- We will invest in data-based solutions
- We will look for alternative production ways.
- The supply chain will be different; we will produce more effective algorithms for possible problems
- The value and importance of information sources will increase.
- The way of thinking of the masses reflected in the social media will become strategic data.
- Automation will accelerate in all sectors producing goods and services.
Some Of The Most Popular Strategies
Now is the time to do real-time marketing. Where our target audience is, we should be there at the same time.
We must ensure that customers instantly find the information and content they are looking for regarding our products and services.
The importance of content in marketing has increased in the last few years and companies are doing good work in producing content suitable for the target audience and presenting it through the right channels.
Content patterns are changing in the field of digital marketing. Now is the time to create more personalized, eye-catching and more visual content in real time.
Customers now expect a personalized experience from us.
Prediction, Offering And New Sales Opportunities
Offering personalized products, services and content is possible with the opportunities provided by technology.
A personalized experience attracts more attention of the customer, increasing their loyalty with the brand.
You can get more customer information thanks to personalization. You analyze this information with data analytics solutions.
You make predictions about products and services that the customer may be interested in in the future. Thus, new sales opportunities may arise.
For a successful Digital Business Models transformation, you must first rethink the business model.
However, you should reschedule business processes.
Technology investment, on the other hand, provides the necessary infrastructure to realize this business model and strategy.
Technology investment alone is not enough. Transformation is possible by preparing employees with knowledge and skills for change.
Digital Business Models : There Are 3.7 Billion Mobile Users
According to the Global Web Index data, 3.4 billion people around the world are connected to the internet. Moreover 2.3 billion users are actively involved in social media. 1.9 billion of 3.7 billion mobile device users use social media on mobile devices. A significant portion of social media users access social media via mobile devices.
Read more: Ohio University
Irwin Michael Reston is an expert who has more than 30 years of experience in optimizing businesses, inspiring individuals and improving human resources departments. He established the BlueLight Consulting Limited to provide learning and training service worldwide.
