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Develop your technological expertise for an (more and more) hybrid future

The data shows us that digitization will make us more competitive in the medium term.

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March
2, 2021

6 min read

This article was translated using AI technologies from our Spanish edition. Errors can occur due to this process.

The opinions expressed by the entrepreneur's contributors are their own.

Many companies saw digitization as a lifeline in emergencies and waited for the return to normality as we knew it. In this vision, we are ignoring a model that is becoming more and more established: hybrid business systems that benefit from the advantages that result from the automation of processes and the immediacy that makes it possible to experience physical business with the best of offline. and online world have contributed.

The data shows us that digitization will make us more competitive in the medium term. Statista, for example, assumes that e-commerce in Mexico will grow by a total of 15.7% over the next four years, which corresponds to a market penetration of 55% by 2024.

The latest study by the Mexican Online Sales Association (AMVO) reports that the main engine of e-commerce in the country in the coming months will be home orders as they are digital shoppers' primary interest at 44% of preferences.

If we stop looking at the bigger picture, we will find an interesting niche in the market that is already beginning to show its potential. For this reason, I would like to share with you five keys to becoming competitive in this new business model:

Define digitization criteria

Many physical stores come up with the idea of ​​developing an online store, either by being a specialist in the field or by delegating and accepting high commissions that are inconsistent with their reality. The truth is that the market offers a lot more options and it is important to define criteria to choose those that are best responsive to our business goals and are flexible to adapt to our changing needs, regardless of whether we want to enlarge the geographic sales radius, found a different industry or attack a new market niche.

Data enables us to gain new knowledge

Digital processes leave a data footprint that becomes a very reliable source to better understand those interested in our offer and to know the reasons why they are losing this interest. With the right guidance, we can create databases that serve as a permanent source of our business insights: this knowledge, which is either differentiated from others by trends in preferred schedules, requests specific products that can open the doors to a new business area, or geographic Areas with the highest demand for our home delivery.

When we venture into the digital world, we have the double advantage of reaching a new growth market and having a powerful platform to generate useful information for our business strategy.

Use self-managing platforms

As with any business, it's important to add the right allies. It is possible that when looking for digitization options we may have the wrong dilemma of relinquishing control of our digital channel to third parties or having to do everything ourselves, but the reality is that there are self-managing platforms today. with the advantage of being accompanied by experts for better operation of digital resources.

With this type of service, we can be sure that we are the owners of the information essential to running our business and have an ally to technically guide and support us, with the shared vision of providing the best possible experience for our customers to generate .

Use digitization to accelerate our business

As a co-founder of Justo, I was able to accompany the process of digitizing thousands of restaurants: from the first click on the page, which is reflected in efficient and secure shopping and finally reaches the customer. One element we are adding is that of a business accelerator that supports operations with strategies to leverage their efforts on revenue growth numbers of up to 224% during very competitive periods.

Consumers want the best of both worlds

Even with physical stores reopening, January AMVO data shows that 60% of those who have shopped online have the benefit of having their products at home. 57% think this habit saves them time and 55% think it is a good option for avoiding the crowds in physical stores. Omnichannel is a reality. Our greatest success will be to always be present in the digital channels that our potential customers frequently use.

To take the lead in our industry, our greatest strength is leveraging experience and adding it to new knowledge such as data and trends. We also have to continuously pay attention to what new experiences our buyers are looking for, both digitally and digitally, in physical points.

If you are still in doubt about what a good starting point for digitization can be, my first recommendation is to set goals and always look for the most flexible options that respond to current and future needs in the short and medium term. as well as wondering what the fairest deal would be for the new relationship we are trying to build. Once we have the answer, we will be ready to look for the ally that best fits our ideas.

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