An Authored article by Mr. Niranjan Gidwani, Consultant Director | Member UAE Superbrands Council | Charter Member Tie Dubai | Hbr Advisory Council
In the rapidly evolving landscape of online business, loyalty emerges as a linchpin for success. Niranjan Gidwani, a seasoned Consultant Director and key member of esteemed councils, delves into the critical significance of the “loyalty factor” in shaping strategic plans. This discourse holds particular relevance for organizations navigating the digital sphere, especially those transitioning from traditional business models.
Diverse Channels, Diverse Challenges: Gidwani highlights the prevailing misconception that businesses operate on just one or two channels. In reality, the customer journey traverses a multitude of channels, encompassing direct retail, wholesalers, re-exporters, transactional sites, and the company’s own online platform. Managing product information across these diverse channels is a complex task often tackled inefficiently with outdated technologies.
Legacy Systems: A Hindrance to Progress: Despite the inefficiency, many major companies persist in using legacy technologies for product content management. This entails cumbersome manual processes, with individuals, often lacking expertise in data assimilation, editing extensive spreadsheets. This practice leads to delays and a lack of agility, hindering businesses in today’s fast-paced environment.
The Complexity of Product Content Management: The intricacies of product content and feeds are often underestimated by those not directly involved in the process. Tailoring data to meet each channel’s requirements can take weeks, involving a meticulous understanding of attributes and optimizations needed for effective marketing. Manual management becomes untenable as the number of touchpoints increases along the customer journey.
Automated Solutions for Future Success: Recognizing the inefficiency of manual approaches, businesses must embrace automated, user-friendly processes for product content distribution. Upgrading outdated databases becomes imperative, and brands need to comprehend that real change involves more than just implementing a new tool. Gidwani emphasizes the need for businesses to transition from piecemeal data distribution to a systematic and science-based approach.
Future of Online Business: As technology and data optimization take center stage, organizations must reevaluate their product information distribution methods. The future of business lies in automation, data, and perfect optimization. To achieve this, companies need to centralize their content distribution, ensuring that processes are automated, reliable, and accessible to non-technical users.
Embracing E-commerce Growth: While e-commerce has seen accelerated adoption, particularly in regions like India and the UAE, the majority of businesses have yet to formulate robust online strategies. The youth population in these regions provides a significant advantage, and organizations need to emulate the government’s online strategies to tap into the vast potential of online and omnichannel business.
Building Loyalty Online: The cornerstone of this transformation is a clear understanding of the ultimate goal—an emphasis on creating loyalty online. With optimism and positivity surrounding the future of online business in India and the GCC, companies need to leverage their offline loyalty and translate it into the digital realm. Success lies in daring to adopt innovative technologies and strategies, ultimately building a robust online presence.
Conclusion: In conclusion, Gidwani urges organizations to begin their online journey with a strategic focus on loyalty. While technological challenges may arise, those who navigate and succeed in this new paradigm will reap the rewards and stand as pioneers in the evolving landscape of online business.