digitization in the nook and corner of every industry. The whole world is going through digitization
walking side by side to the decades-long technological advancement in every field. The digital field is not
an option today rather mandatory for an organization to advance with the current times. It doesn’t
matter if it is a micro organization or a larger one – digital advancement and embracing the technology
and embedding it to work is a priority.
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Technology isn’t slowing down, the pace is faster, not constant and going digital is the only ace of the
game. The speed is necessary to keep up with the team of an organization and also to compete with
your competition who show no signs of slowing down.
In reality, even digital transformation varies from company to company. Digital transformation is not how
advanced the technology is but instead how effectively the company’s team can integrate their work
around it and make it a culture or a norm. Adapting a new transformation can be challenging for the
workforce, which is also a great learning experience.
What is Digital Platform?
A Digital Platform can be defined as an online business that facilitates the exchange of useful information
and services between producers and consumers.
Platforms are not a new phenomenon, shopping malls, job placement services, and newspapers are
some of the prime examples, and they have been there and are an inherent part of the economy.
Digital marketing platforms are on the rise now due to the surge of internet-centric roles and also the
use of mobiles and smart tech, the internet has matured, and so has the platforms.
Walk around and research, and you will find nearly 80% of the companies have transformed into digital
platforms and are participating in digital ecosystems. Digital Platform uses the computerized
technologically advanced tools to optimize the efficiency of the workforce and the organization as a
whole. As for now, digital platforms are located only for workplaces, but there have been collective
efforts to develop platforms to use at home too.
The characteristic of digital platforms includes allowing easy access to assets like software and data, so
digital ecosystems are helping the organization to deliver products and services with greater efficiency
and speed. However, one needs to be selective and smart in picking out the right parts that will serve
the organization well as that will bring about a fully formed digital ecosystem managed by you that is
modern and efficient.
It is estimated that around $421 billion in cost reductions and around $493 billion in increased annual
revenue are expected out of enterprises for the next five years just by adapting a digital ecosystem.
Digital Platforms focus on the customer’s needs and demands which adds value to a company,
companies are moulding and stretching their boundaries and shifting away from linear thinking to a
more broad customer-centric value chain.
SHAPING A GLORIOUS FUTURE THROUGH DIGITAL PLATFORMS
Your touchpoint to engage with customers should be multidimensional and through this customers can
adapt reasons to use your services.
Tracking the changes of your company after adapting a digital ecosystem is crucial as it will help you gain
access to the effects of the digital ecosystem in the enterprise. It can help you gain insights on how to
lower critical costs.
The customer now needs instant service, service that is fast and efficient to meet with the fast lifestyles
and digital platform is open 24×7 across the calendar.
Technological advancement exposes the platform to excessive pressure and which in turn forces them to
innovate and re-access constantly. For example, social networks like Instagram face pressure from other
social networking enterprises who are also trying to attract and retain customers on its platform. This
competition exists from all sides, and they all are game for acing the advertising dollars.
The value of a company’s services increases with the increase of its network, and the market has a
built-in tendency for concentration.
Digital platforms enable much of the digital economy today, and platforms have a market capitalization
of $2.6 trillion.
Digital marketing platforms have made it possible to hire part-time or temporary workers for specific
tasks, for example, we can hire Uber/Ola so quickly today, and they also give drivers the benefit of
flexible schedules. All these, while remaining always connected to the digital platform. Talent based
platforms like Upwork, which is a freelance platform has connected millions of freelancers from 180
different countries.
Digital Experience Platforms are flexible, efficient and talent-based, making it perfect for the world
scenario and workforce ideals today.
These factors sum up the principal value digital platforms add to a customer and serve both the
company at large and the customer retainment.