The business is a very diminutive part of a market; on the contrary, the market is a vast forest, including all transactions and many customers, respectively. During the operation process, the good-supply by the seller, combined with the buyer’s good-consumption, will create the circulation of goods and the business’s development. However, interactions between market and business are the main driving force for all factors to develop in orbit and increasingly innovate according to the times’ improvement and transformation.
1. How does the market contribute to business growth?
The market is the foundation for creating a business’s original values, deciding essential requirements and conditions a business needs to achieve to enter the stage of market presence. From then, customers with specific demands will choose to buy the items they want. The ultimate goal of a market is to meet the needs of commodity exchanges precisely. This process continuously compels businesses to maintain and update their business operations, immediately adapting to customer requirements and not falling behind other competitors in the same market.
The market helps businesses approach customer behaviors more deeply, which is very important in resource management. That also presents in data sources such as the number of selling goods, rising goods consumption, or figures showing a sharp drop in merchandise sales due to the disease’s impact. These factors will contribute to the next analysis steps from collected data, approach the operation process more accurately, simultaneously regulate the level of goods production to meet just enough customer needs, avoid goods-excess or -shortage.
A market will reflect the competitiveness, scale, and position of all businesses within the market-share concept. Determining market share will point out precisely the revenue dimension compared to other competitors, also contribute to research and development activities, clearly identify competitors, customers, strengths, weaknesses, and at the same time, aim for following strategies to improve or increase sales.
2. What a business can do for its market?
Under the control and dominance of a market, businesses also contribute their values to the general development custom, creating different development orientations and characteristics for each market type.
The competition among businesses promotes a much more vibrant market. It is also the driving force for enterprises to change and perfect day-to-day operating systems, update the trend not to fall behind other similar competitors, and finally optimize the customer experience.
Business growth expands the market dimension and stability. A speedily growing business will supply more substantial quantities of goods, focusing on research and improving goods quality. This approach will attract more potential customers; also new companies. The full penetration of market factors (sellers and buyers) concurrently affects the market size compared to a general economic picture.
3. Interactions between market and business in the digital transformation
Over 50% of companies are aware of the impact of the Industrial Revolution 4.0 and feel it is taking place day by day. However, more than 70% of businesses do not fully understand their technology systems’ status and have yet to ascertain where and when to start deploying digital transformation.
While many other companies have quickly grasped and implemented digital transformation strategies for a long time and achieved specific success in the market, most of the remaining companies struggled with financial and technological problems. That contrary also affects the market, makes it move slowly and miss technology updates. Therefore, to successfully digital-transform, the interactions between market and business should not be overlooked.
First, market and business must satisfy the fundamentals of digital transformation, including connectivity and a stable internet platform. Connectivity refers to connection size and speed. Connection needs will increase continuously in the future, allowing businesses and markets to ignore their customer networks’ connections.
Next, the connection speed needs to be improved to help data transmission and processing take place faster. Since ecommerce sites have become more and more popular, customers have more options when shopping, and there is no reason to waste time waiting for a too slow-speed website. That is why the Internet platform is a vital imperative requirement to promptly meet the needs of markets, businesses, and users in the digital age. The Internet has become an essential part of daily life and a cornerstone facilitating the digital transformation process, promoting innovation, creativity, and new technology applications to the existing civilization.
Besides, focusing attention on improving digital skills for human resources is also a way to tighten the interactions between market and business. Digital transformation tends to impact old business models to upgrade and improve them into leaner and much more modern models. That prediction significantly affects human resources when some jobs have been automated and operated by artificial intelligence without humans. However, these automation jobs can produce more brand-new alternative jobs, namely quality management, market research and development, and product development.
Nevertheless, at the same time, it also raises the requirement to improve the capacity and digital skills of all existing human resources. Information technology skills have gradually become an essential condition for each individual to fully meet the labour market’s basic needs, especially when ecommerce becomes a trend worldwide. However, the ecommerce market also needs to improve data security issues, logistics, and payment security to gain the highest trust from customers and further development in the future.
The interactions between market and business are often subject to significant impacts from common development tendencies, technological advancements, and other digital transformation issues that make sense to be continuously updated and changed procedures to suffice customer needs and experience. Within those interactions, businesses will perform digital transformation responsibilities from the market requirements and vice versa; the market is the environment showing the exact business outcomes. When having reached the capacity and position, businesses can create a different market themselves with a stable and sustainable customer source.
In the context that the 4.0 era opens up an essential evolution for human society, data has become a priceless treasure of enterprises in researching objectives to implement business strategies comprehensively. It is also about time for businesses to admit a complete data digitization formula to optimize this process’s benefits. Therefore, digitizing data becomes a mandatory transformation requirement that companies need to complete to adhere to modern market trends and the inevitable development era. Data digitization will be the core foundation for more extensive digital transformation layers in a more prolonged vision.
1. Complete preparation for the data digitization process
Data digitization is a data-transforming process from traditional paperwork to digital format databases. After digitization comes to completion, the database will be stored and managed by software or technology platforms, enhancing this data system’s security and accessibility. This enhancement is an obligatory transformation requirement for traditional business models as most businesses face operational and management problems. At the same time, start-ups already can access new technologies and have a more modern changing mindset.
First things first, there are many difficulties in storing and preserving paper-printed documents. They are often bound to form in book-types with large sizes. Secondly, paperwork makes searching, synthesizing, and analyzing unnecessary time-consuming. Meanwhile, digital data sources can streamline the bulk of previous paperwork while still having enough digital space to store in the data systems. Those systems especially have many advantages about security and flexibility in supporting data analysis and research for business development strategies.
An essential data digitization process goes through 3 main stages: data classification, format conversion, storage, and management.
To fully prepare for a digital data plan, businesses can start by sorting and sifting through document types according to digitalization objectives and strategies. Specifically, retailers can prioritize the data of products, inventory, customer information, or ordering reports. Besides, operating-oriented businesses may consider using internal data sources for in-house working and managing processes such as accounting data, factory data, operating records, and other related types.
Format conversion for data digitization preparation
In the next conversion step, paper documents will be scanned and converted to image sources such as JPG, TIFF, GIF, PNG, RAW… With a much more improved budget, an organization can take advantage of more breakthrough technologies, namely AI, Machine Learning, Big Data… to digitize paper-printed data into editable formats. The data will then become streamlined and stored in data systems for the later exploiting and editing objectives.
Data storage and management
The benefits of digital data management systems are the minimization of storing space and cost, access time, operation, and management costs, simultaneously providing the optimization of security and data mining performance. These systems operate under two main requirements: the first is to store, the second is to support data access flexibly and quickly.
One of the essential tasks is to use the right technology at a particular milestone to optimize the process’s quality and time. When matching both the above requirements, businesses no longer need to worry about the budget-exceeds anymore.
2. The role of digital data management systems
Solutions for data digitization processes will be much more comprehensive by using digital data management systems tailored to the data storage and access needs. Businesses also easily use data for business research and development objectives, improve products, service quality, or produce brand-new products and services to meet customer demands. Essentially, digital data management systems can:
Ensure data integrity. Digital data systems are a complete alternative to physical document storage spaces (paperwork, shelves, archives, etc.). This solution will reduce the previous cumbersome data-types while restricting the loss, fragmentation, or data damage.
Make information more proactive. Data migration to digital systems keeps it available for mining and fast retrieval of analytical, research, and statistical reports. Data will no longer be limited, but on the contrary, businesses can access it anytime, anywhere.
Minimize seeking-time. Modern and innovative management systems also allow multiple users to access information simultaneously, ensuring the smoothness and seamlessness of business processes.
One of the most popular digital data management platforms is ERP systems. ERP contributes to being an entire enterprise management system capable of using data as a business operation resource.
In particular, ERP creates a high-logical storage arrangement for all business departments to develop the ability to seamlessly and quickly access, usage, and exploit information. However, ERP is a comprehensive transformation that requires businesses to accept innovation significantly and reform the traditional operating model.
3. Typical case studies of data digitization
Data digitization can also be effectively applied in national public services, forming e-government to transform the traditional administrative environment’s working process. E-government creation brings a massive advantage for both the government and the citizens when managerial procedures become faster and more flexible.
Also, information and data sources in the electronic management environment are more secure, safe, and transparent. A typical example of this strength is the blockchain application in managing the e-tax system of an enterprise. Blockchain possesses a significant advantage in data security, and value-added tax transactions are also real-time done quickly, minimizing fraud and tax evasion.
Another data digitization case study is the accelerated development of retail technology applications by Saigon Co.op. With the most astounding purpose of optimizing the customer experience, this retailer aims to partner with leading technology businesses to create a digital shopping space.
As a result, the cooperation with Momo wallet has got implementation, and the brand has become the principal e-payment method in supermarkets. The combination with the Grab delivery system is also an essential breakthrough, promising GrabExpress freight forwarding services and food delivery GrabFood applied to the entire structure of Co.opmart, Co.opXtra in Ho Chi Minh City.
However, these successful case studies in typical pioneers’ digitization process do not mean that formula will bring absolute success for almost all businesses. Data digitization strategies mostly depend on external factors. They are even contingent on business demands. That is the reason why companies need to tailor standard processes and systems before conducting data digitization.
Digital transformation is an essential process of multiple scales, in which digitization is only a small layer. However, this layer is a critical core value of the whole digital transformation process.
Data digitization gives businesses many significant advantages to meet the digital transformation process’s basic requirements, converting the format of data platforms. Forms of storing and managing data are also quite diverse, and businesses can choose the right way to manage their digital data sources. However, technology is not the main factor for success, so is multiple platforms usage. Considering the correct strategies, data systems based on appropriate technology platforms will lead businesses closer to expected results.
The Fourth Industrial Revolution has created constant changes in modern life, applying digital technology innovations’ core values. In particular, digital transformation (DT) has also gradually attracted more attention from businesses and individuals, although it has crept into the business operational processes since computers became popular in the 1990s. However, DT has marked a spectacular breakthrough when it matures a hot topic globally. This term shows itself a tremendous impact on the future of business. DT’s critical elements – data digitization, process, and model digitalization have fully demonstrated the improvement tasks for companies to overtake future opportunities. They are also essential pillars in multilayer DT systems, forming data, technology, and people’s seamlessness.
1. Terminology speaking of digital transformation and related perspectives
Digital transformation is a necessary process for traditional business models to keep pace with technologies and times. Implementing DT that is suitable for each of the businesses will increase its competitiveness in the market, thereby increasing revenue while optimizing the operation process, creating values for corporate culture and human resources. A complete DT model is a three-layered design: data, process, and business model.
The data layer is necessary to digitize data sources by using technologies for easy-management. A business will implement transformative strategies for operational processes based on transformed data in the process and model layer. Companies can change their models to suit the prolonged orientation and develop corporate culture more extensively. They can also conduct step-by-step or simultaneously implement all the layers if there is a suitable option with the business requirements and specific transformation strategies in both the short and long-term.
Data digitization is transforming from paper-works to digital formats and then storing the digital database in computerized data management systems. Those systems are made up of the technology-implementation to store data intelligently, making data retrieval more manageable and faster. Therefore, data becomes more proactive and brings substantial value-in-use to the business.
Data digitization will create a more seamless working process while ensuring strictly systematic and complete data sources, building a comprehensive digital infrastructure for businesses. It simultaneously is the digital transformation process’s kernel, forming the foundation for all the remaining layers. Up to now, data digitization is an optimal solution ensuring the integrity and security of data systems in the long run, which significantly reduces operating costs.
Additionally, database management systems are the most critical archives that can maximize data access and exploitation efficiency. MySQL is an excellent example among the most popular DMS today, owning multiple useful features based on open source code while ensuring data speed and safety, even large-capacity data systems in the ecommerce field. Accompanying other DMS such as SQL Server, Oracle, PostgreSQL, MySQL can meet most of the data-usage requirements of storage performance, security, and data-safety standards.
These outstanding advantages help MySQL get more appreciation from technological experts by implementing them in many highly-complex technology industries.
Process and business model digitalization (PMD)
Based on the digital data’s core, the process and business model digitalization form a more widespread layer covering the core inside. This classification is highly complex and embraces various forms depending on the operations’ ways and objectives. PMD refers to the transformation relying on technology infrastructures and digital data frameworks to form a digital platform.
To complete the digitalization is to analyze issues in operating processes and business models. From an in-depth analysis, they can provide the right direction and strategy for transformation decisions. This transformation layer has supported businesses to meet the DT requirements, which fully are:
Customer connection in the business process;
Maintenance, development of the appropriate technological initiatives;
And over-the-time human resources optimization.
At the same time, a business needs to combine digital solutions to create customer values and build operating models.
Currently, businesses have successfully applied CRM platforms or ERP systems to optimize operational processes in terms of time and resources. It is well-known management platforms such as Zoho CRM, Microsoft Dynamics CRM, or Salesforce CRM that almost all businesses implement for stable development. Those names are tremendous supporting tools to create the business departments’ continuity of processes and operational processes.
Both CRM or ERP systems effectively help businesses achieve targeted sales and effectively disentangle complex manual processes or issues related to data controllability and preservation.
Digital transformation (DT) is the largest category, the complete model to bring businesses closer to the 4.0 digital economy. DT represents the whole process of digitizing data and digitalizing operating processes, business models. DT’s ultimate goal is people-orientation, and at the same time, combining the corporate culture with the customer-centric foundation. DT sets macro-objectives of people’s direction in building strategies, corporate culture, digital technologies, and adapting to these digital transformations.
Generally, most companies carrying out DT encounter significant barriers. They frequently ignore a complete data digitization plan while only focusing on refining more macro-plans in the process and model digitalization layer, which does not bring the high-volume transformation effect due to the initial preparing step not been done thoroughly.
Also, preliminary estimates of time and the limited budget will present a significant challenge for DT tasks in specific periods. Multiples of businesses are unable to catch the expected results. However, despite the existing challenges that they have confronted recently (the COVID-19 crisis), digital transformation will provide comprehensive support on data systems and digital platforms, exclude all social distances, and connect the world easily anytime.
2. The finishing-point of digital transformation – ecommerce?
The digital transformation process has made both efficiency and sales for numerous B2C and B2B businesses. In detail, ecommerce is the most typical manifestation, having recorded impressive growth since 2017. B2C companies have also strengthened the development of a more powerful ecommerce channel than ever.
Meanwhile, B2B models pay much more attention to transforming chains/systems/processes such as production or goods distribution processes by gradually turning into online methods to adapt to the flexibility and rapidity of the 4.0 supply chain.
Up to now, ecommerce can be considered as the complete performance of the digital transformation process. Ecommerce channels can update information quickly and continuously while also ensuring UI/UX optimization to provide perfect user experience, excellent customer experience, and as a result, increase sales. These are also the requirements to digitalize the markets and perfect the business’ operating system. Depending on the DT objectives, the company will stop at the stage that best suits its business model. Some of the businesses only need to digitize data for more effortless operation.
However, from a much more general perspective, almost all companies convert to an ecommerce system to control their business independently and connect directly with customers, partners and come closer to the DT outcomes. Those objectives are also the straightforward development orientation of most retailers today. They focus abundant resources on developing the ecommerce channel to expand the business scale.
For instance, The Coffee House is a case study of the F&B industry’s impressive DT outcomes in Vietnam. The brand has achieved their ordering application for more intensive data resource management and operation. This application was initially built on a requirement to increase the loyalty program’s ease and improve customer care service quality.
However, until now, this sales channel has grown more than that and has become a mainstream business channel that seamlessly integrates with the brand’s existing offline stores.
The TCH app aims to connect and interact directly with customers based on the D2C model, allowing app-users to create membership accounts to earn points and order quickly. These features allow brands to access customer data and shopping habits easily. In-depth data analysis will contribute to new product strategies or menu amendments to better suit the customer’s taste.
Digital transformation is a long-term journey that needs to be done with a detailed and complete strategy while meeting the time and budget, matching the current business’s capabilities. Digitization/digitalization layers also need to fully play their role in digital platforms, transforming entirely and efficiently. A complete ecommerce system considerations are also required for supply chains currently in the marketplace. Ecommerce will be the most agile driver of digital transformation; however, make sure that you can implement a strategy with the right priority in the current situation to give the best effect.
Do you think one day you can command Siri to do an online order in minutes or buy a shirt with just a picture taken by accident while driving on the road? Those are some examples that artificial intelligence (or AI) can bring to the ecommerce future. Since AI has been leveraged for optimizing and enriching the ecommerce experience, the user community has become more proactive when purchasing a product on the internet. Customers gradually have greater confidence in the quality of products and ecommerce services as they can interact much more easily and quickly thanks to the AI applications in every selected product.
1. How customers experience products in traditional shopping
Traditional shopping refers to the way customers directly buy products at stores, markets, or supermarkets. Since that trading model has emerged, the ecommerce experience about products has often originated from direct product-observation and -interaction. A consumer can hold and touch the item directly, feeling its characteristics, such as hardness, softness, size, or even color. They can quickly try one dress and exchange another one for a suitable size. This model has several benefits for shoppers:
Guarantee of product quality: Customers have the opportunity to interact and observe the product directly before buying. At that time, customers can choose a product with complete packaging, favorite colors, or delicious fresh food, or a skirt of a suitable length.
Time-saving in return and exchange policy: The traditional purchase is rooted in the amicable sale principle. Of course, the buyers will be partly responsible for goods quality due to the opportunity to touch and inspect them before buying.
High-satisfaction level: Customers tend to be more enthusiastic and get more exciting feelings when using products. They will not put too much doubt on the reliability of the product.
The benefits of experiencing products with traditional models will have many changes in online shopping models. Although customers will enjoy the convenience of freely choosing a suitable item in a wide range of goods at more bargained prices and also experience regular promotions, the limited interaction with the product pre-buying has reduced the convenience as the traditional model did before.
2. AI invention penetrating process to optimize the ecommerce experience
With the rapid development of the digital age, customer demand is a critical factor that is a priority in every development strategy and orientation. In particular, businesses also invest more in modern technologies to optimize consumer-product interaction, and AI applications are a useful option for ecommerce experience optimization process.
Within the Ecommerce field, AI aims to the product experience, contributing to the efficiency of the business’s customer-centric orientation. The AI application has been integrated into search engine systems to support the creative and effective searching process with features such as “search by image” associating with material, shape, size, or brand. The display technology also invests in improving product interaction, shortening the distance between online and offline models.
Moreover, AI supports the ecommerce industry as a knowledgeable online assistant. This technology can bring two-way benefits when supporting both user experience and data analysis about user behavior trends.
Those are the two factors motivating brands to invest in developing more modern and efficient AI platforms towards a smarter, automated model for perfect customer experience.
3. AI trends for smarter ecommerce experiences in the digital age
Since applying to the ecommerce industry, various AI technology types have contributed to significantly changing consumer habits and purchasing decision-making processes, ultimately optimizing the convenience that customers received from online shopping. However, AI tools are continually developing and improving every day to enhance the user experience, and they also regularly stay updated with many popular trends.
Product 3D view
The 3D formats have been practical to enhance more excited customer-product interactions. Customers can observe different product aspects or even try placing a small decoration item at any house location to check the product’s suitability. This invisibility generally creates exciting experiences to increase interaction making customers more interested in the product.
Some interior brands have been using 3D scanning technology to perfectly experience interior space and architecture. Based on a provided video, customers can enjoy AR via remotely 3D virtual reality technology.
Mobile virtual reality fitting room
That AI ability can be a perfect solution when a store has too many customers visiting at the same time while the fitting room is overloaded. Customers can scan product images and try them out on a mobile phone screen. This technology is already available on Lacoste’s app, supporting customers to try their favorite shoes freely via their smartphone.
The development of 3D and virtual reality technology has proved that nothing is impossible in the digital age. AI development is also a considerable solution for ecommerce barriers, mainly interacting with products when buying online to optimize ecommerce experience.
In the future, as many expert predictions, AI can be a modern and popular trend to optimize the ecommerce experience correctly. However, businesses also need to consider the needs of target customers to have appropriate applications and increase the number of potential customers and loyal customers in the long run.
A brand needs more than just a campaign, which involves many aspects starting from the structuring identity process to brand development and maintenance activities. The concepts of a brand also include many different categories, both horizontally and vertically. However, many ideas or terms have scores of similar meanings that often confuse in a bunch of writing contexts. So, distinguishing almost identical words, spotting the essential elements in a branding model, and pointing out the most critical factors will be the first primary for a new brand.
1. Brand identity and brand awareness – what is the difference between the two concepts of a brand?
The first two common concepts of a brand are the confusion between brand awareness and brand identity when it comes to brands. The biggest problem here is, most people use them, assuming that they have the same meaning and have complementary relationships. However, the simple truth is scopes of these two concepts are entirely different, including how they create awareness and identification values.
Brand identity – a basis term of all concepts of a brand
Brand identity is a way to identify a brand in the public’s mind, using materials such as logo, slogan, company profile, design style, name card, brochure, and even colors across their designs. Brand identity usually starts from the brand’s values to create the first impressions and memories in the customers’ mindset. Among the concepts of a brand, brand identity can do more than as a brand face; it makes the brand memorable, creates a position for the brand in the market, and creates a particular attraction when the brand publishes an advertisement.
In Vietnam, Coca-Cola often appears on holidays, important occasions with two primary red-white colors and unique handwritten fonts. This brand always communicates to the public the values of reunion, family affection, inspiring people not to forget where they belong. Another example is the Apple logo’s story performing the image of “an apple with a bite” has a strong desire to reach perfect, rebellious, and unique values.
All the elements that appear, more or less, convey a specific aspect of brand value, vision, and mission. They also contribute to creating the unique memories that customers experience with the brand and stimulating closer connections.
Brand awareness – the highly-confused in concepts of brand
Brand awareness is the result of creating a set of values to make a brand different and essential. Awareness implies the mindset, perspectives of the brand’s role to customers and other market competitors.
To build a brand awareness process is to focus on connections and interactions mostly. However, it is first necessary to create an information platform that helps the audience get the whole picture of a brand. In particular, the crucial factors that can make this process done are content platform, product/service platform, and human factors.
Content has a great ability to create a brand’s tone and voice while also shaping its style. This ability allows brands to set perspective and the appropriate direction usefully, similar to how Redbull conveys the messages from the “Give you wings” campaign with the desire to become the dream-maker.
On the other hand, product quality also dramatically affects the brand. Product quality is the launchpad for the next PR or marketing campaigns, but an inferior-quality product will make the brand fail no matter how good those campaigns are.
Starbucks has gone beyond the limits of a coffee shop with increasingly appreciated values. However, when it comes to Starbucks, everyone is pleased with almost all the drinks here. The excellent taste of the beverage menu has attracted and kept more customers.
Coca-Cola gets a very high level of brand awareness when almost 90% of the world population knows what Coca-Cola is. Like many other long-standing brands, Coca-Cola has created a cohesive consumer habit that can retain generation-to-generation and refreshed itself by creative advertising campaigns that add more imprints to customers’ mindsets. Did you remember the Coke bottle had your name printed? Have you ever taken a selfie with it? Yes, these name-bottles are part of the “Share A Coke” campaign – a campaign to help Coca Cola to surpass Samsung, to win the Gold Award – Brand Awareness category at The Smarties Vietnam 2015 (organized by Mobile Marketing Association in Vietnam to honor the best brands and agencies).
In another context, to maintain the identity values of perfection, rebellion, and uniqueness, Apple built its own extremely discriminating cognitive system. The brand does not narrow itself to any target market but towards a design that is everyone-friendly. It forms a unified brand culture from the inside out, including creativity and simplicity. Apple ignores the trends and competitions; it contrarily produces themed devices, generating new patterns for other brands in the technology market.
In general, brand identity emphasizes feelings of “love at first sight”. This concept tailors the brand’s face, helping customers classify the brand’s identity, functions, roles, and products. On the other hand, brand awareness conveys long-term values, internal values, and different values remaining in customers after using a brand’s products or services.
Those two concepts of a brand are not synonymous and equivalent, and brand identity is a part of a brand awareness strategy.
2. Essential elements of a comprehensive brand positioning model
Among the concepts of a brand, brand positioning models have been diverse, from the Minimal Viable Brand model provided by Eric Ries to much more complex models, namely the Brand Key (by Unilever) or Brand Pyramid (provided by Keller). There is a common-sense between these positioning models, which is the forming and maintaining values, from the root strength to the brand essence, which can eventually be long-lasting in the community’s mindset from generation to generation.
Usually, we are aware of the elements of visible benefits and measurable values. However, brands that leave an in-depth impression in the customer’s mindset create subjective and sensory values. Therefore, the positioning process worth considering includes discrimination and customer experience as well. Also, emotional and personal factors often require a high level of two-way interaction between both brands and customers, in general.
Discriminations refer to values making a brand different from its competitors. You can use product strengths, brand stories, or media messages to emphasize how you are different from dozens, hundreds of brands in the same field. A coffee shop with a mountain-view will be more attractive than another with small tables in 4 tight walls. Of course, the very first goal of people coming to a coffee shop is to drink coffee; however, gradually, people need more than a coffee cup when coming to the shop, such as to talk and discuss together, to work, to have group meetings, to take photos, or even dating.
People tend to be more interested in which coffee shop is suitable for taking pictures, which are tranquil enough for working. A tasty coffee-cup is one of the different values making customers frequent more; besides, people also care about the space, décor, view, etc.
Another fundamentally important factor for a branding campaign is customer experience. Experience is truly the accompanying actions or services, making customers feel they have received the attention and devotion when using certain products or services. Customer experience is one source of developing brand touchpoints and including various concepts of expertise, such as interface experience, shopping experience, or product experience of a brand.
Apple has successfully satisfied their customer experiences by designing an intelligent technology product-ecosystem to meet the seamless connection and interactions between devices and people, creating convenience and ease. Therefore, besides the brand itself’s discriminations, an excellent customer experience will be an active element for branding.
The digital age has witnessed a transformation of the brand-value system and concepts of a brand when almost all the customers are much more interested in sensory factors like emotional experience when using products. That experience requires brands to keep up with customers’ insight, creating compelling content to obtain customers’ trust.
3. Brand voice – the strength out of all the concepts of a brand
Why is brand voice important? Because it can speak up almost all the values of a brand and directly affect its audience. Voice can help personalize the brand, let itself create personality, and speak up as a human. As one of the key concepts of a brand, that is the most basic visualization of brand voice. However, brand voice is the element synchronizing and positioning brands at a higher level, shaping the brand identity and awareness. As a result, brands know what and how to reach the right audience target or market, developing both content styles and operation models consistently.
We remember Pepsi as a symbol of dynamism, youthfulness, and positive energy. On the other side, Coca-Cola is reminiscent of family reunions, cozy and fun spaces. While Apple emphasizes the simplicity and quality of the product system, Samsung focuses much more on diversity and stunning design. These differences show that every single brand shapes the growing direction with unique concepts, then they will record in the user’s mindset of distinct characteristics and styles.
Whether branding is minimalist or sophisticated, businesses need to fully meet the most fundamental concepts of a brand to increase communication and interaction with their customers. Simultaneously, it is necessary to follow appropriate values integrating with development orientation to avoid overuse, and confusion, which then losing the discriminations brands want to convey.
Misperceptions, weak possibilities, or lack of substantial investment are significant barriers to the ecommerce industry in Vietnam today. However, the long-term effects of old business models now seem to be more accessible. Business owners also focus more on improving the management and operation of the ecommerce complex systems. The shortage of capital has also improved somewhat. To do that is to combine solutions seamlessly, take advantage of the “small rain lays great dust” idea to influence and change consumer habits and perceptions partially, then quickly breakthrough ecommerce barriers.
1. Breakthrough ecommerce barriers with customer-centric orientation
Customer-centric orientation can significantly improve the problems that consumers are suffering from shopping online. This orientation is correctly a long-term process to breakthrough ecommerce barriers, follows the business for a lifetime, creates brand values as a result, and other measurable values, such as highly-appreciated customer feedback, increasing the number of products sold.
At first glance, customer-centric orientation looks quite general and tends to imply intangible values. However, the “customer-in-center” mindset can generate both cognitive and measurable values. Before it can create measurable values, the business needs to have a clear awareness and specific purpose of this orientation, maintaining it as a unified business culture.
To get started, be customer-friendly in all aspects—organizations at first need to analyze the customer community’s needs and insights. Customer feedback, including limitations from existing products/services on the market, service quality, promotion campaigns, is the foremost factor to consider. Proactively getting customer feedback on products and services is all valuable information; thus, organizations will have time to complete both product systems and customer service.
It is an equally critical factor that improving user interface can produce oriented rather than product-centric. Many businesses assumed that the “good wine needs no bush” developing style would naturally create attraction itself. Indeed, this style is not wrong; however, it is still not powerful enough in the long run. Proactively taking care of customers, receiving the limitations of existing products are the fastest steps to improve producing more appropriate products. Products tailored to the needs make customers perfectly comfortable in the user experience.
2. Set sales goal to prevent cash-flow issues and breakthrough ecommerce barriers
To breakthrough ecommerce barriers effectively, one of the critical things is to set clear business goals. It is difficult to predict future fluctuations; however, proactively create realistic goals and prepare everything to achieve them. Businesses can start from their monthly goals about the cost, revenue, or market share achieved, then set out tasks to achieve the goal instead of declaring the whole year’s goals with an incredible number that no one could ever reach.
Besides, sales goals can give great support to an organization’s financial problem. In particular, the cash-flow factor should not become the only weapon that businesses abuse to invest endless-capital for ecommerce races. The fact has proved that enormous capital investments have made a large number of SMEs miserable. Meanwhile, ecommerce giants have received sponsorship from well-known global ecommerce organizations. They have been ready to run.
3. Strengthen product policies to breakthrough ecommerce barriers
The ecommerce market needs to tighten product policies to deal more effectively with fake or low inferior quality products. This reason is the most significant issue without any practical solutions, and it also comes from both sellers, ecommerce enterprises, and consumers. Vendors are for-profit; businesses cannot control the stores; consumers prefer low prices despite good-quality; all of them are potential factors making the issue of fake goods, counterfeit goods more widespread.
To temporarily deal with the issue of inferior quality goods, it is necessary to focus on developing return and exchange policies and accompanying preferential policies. Businesses should quickly recall counterfeit or error products if the customer has received the product, give back customers an authentic one, and may come with a discount voucher for the next purchase. This reaction shows the attitude of the proactive settlement of businesses, as well as keeps customers calm.
On the other hand, to maintain the product and brand values in the long term, there should be a permanent policy in product quality assurance, product censorship policy before officially selling products online—for example, the ecommerce website TIKI.VN has done well when ready to commit a 111% refund if found counterfeit, simultaneously also completed the product quality assurance process before officially opening for sale on the website.
Additionally, other ecommerce businesses also make commitments to supply genuine products much more firmly. However, this is just an effort from one side; ecommerce businesses can only fulfill their role and work to ease the issues, not the most radical solution because counterfeit or inferior quality goods had originated from when traditional trading existed. In terms of a holistic approach, significant efforts from every consumer are essential, in other words, personal consciousness. This effort is quite complicated and needs to come first from the family and society’s educational process to form consciousness in human growth and personal development.
A high sense of quality will be the most comprehensive solution, whether from consumers, sellers, or businesses, which can then create more weighty policies that maximally protect consumers’ interests not only in ecommerce but also in all other economic sectors. Comprehensive policies will significantly eliminate inferior quality goods step by step to breakthrough ecommerce barriers.
Customers, cash flow, and product quality are the keys to determining the success of an ecommerce system, also affecting many other aspects. Therefore, to do breakthrough ecommerce barriers is to come first from the leading foundations and create synergy for removing existing barriers.
As the digital age has been developed genuinely, platforms have a more robust transformation, marking a significant milestone of globalization. Brands, of course, do not accept falling behind the market and continually innovating to suit the tastes of consumers. This worthy improvement helps brands attract customers’ attention and ideally bring the best user experience. To come into the digital age, brands transform in various ways, focusing on utilizing brand touchpoints, customers, and potential opportunities.
1. Invest in touchpoints to make brands transform
With no exception, brands transform as always to keep up with the digital age’s swift trends. To complete the digital transformation, investing in brand touchpoints is a concept that worth-considering. Most generally, the brand touchpoint is the simultaneous interference from both businesses and customers, creating the highest attraction for the business and providing the best customer experience.
However, some people argue that the concept of brand-touchpoint is vague and quite broad because any existing factors can potentially affect the movement of brand touchpoint for better or worse. This argument will be recognized if businesses do not know where to start creating a touchpoint. Brand touchpoints stem from business core-values, the level of customer experience, and a little bit of difference when needed.
System assets help businesses grow in both quantity and quality. A standardized system not only allows products to shape within the unified normative framework but also ancillary services. A complete digital transformation of a brand does not stop at the product level. Developing and continuously improving the system are the keys to meet the second requirement of the brand touchpoint: user experience. The apt system helps businesses get in touch with product-and-service convenience and can create an isolated ecosystem to make brands transform.
That was how Apple had been successfully producing a technology-product ecosystem that made a stunning attraction for users. Simply put, the term ecosystem in this context implies a group of products that can interact with each other in harmony to optimize customers’ convenience. Apple has generated an almost-efficient technology ecosystem that performs seamless interactions. However, what makes Apple enthusiasts completely satisfied is the personal ID system with high privacy and data security.
To take another example, Nike has wholly changed their business since their growth stalled, and the earlier business model was no longer sufficient. The mandatory change in the brand requirements has shifted to using an online business network to interact directly with consumers. The online trading system completely replaces the traditional product-distribution through intermediaries, as well as exclusive distributors. Nike also combines the accompanying member programs with trendy and fashionable items, creating a close connection with customers. As a result, the transforming system contributed to an increase in ecommerce revenue by 38% in November 2019 (data provided by Brands Vietnam).
To transform successfully in the digital age, make sure that the brand is honest and authentic. All information about the business can be delivered more quickly than ever in the internet era. A restaurant with a 1-star review will undoubtedly make customers turn away. Therefore, providing authentic information will make users feel secure and reliable when using products. Brand honesty helps create a pure life for products while contributing to the user experience’s seamlessness, making the brand touchpoint in harmony. Transparency in product quality and working manner will create a unique touchpoint system.
Brands transform with simplicity and minimalism
That viewpoint may sound strange, but most customers in the digital age need simpler products, services than cumbersome and complicated ones. Simplicity and minimalism in branding still can create brand touchpoints while focusing on the pillar values of the brand, such as strengths, target customers, differentiation, missions, quality, and messages. These keys, eliminating other complex elements, will be more focused and orientated for businesses in the long run. Simplicity and minimalism make businesses quickly adapt to the ever-changing digital age.
2. Customer-in-center to make brands transform
Product-centric is still an essential factor in most campaigns. However, customer-centric will be the necessary combination to enhance user experience, which making brands transform. Products exist in the world with the ultimate goal of meeting customer needs. Therefore, identifying customer needs is a crucial starting point for a digital transformation campaign.
That is how the Maggi brand cleverly introduces cuisine recipes combining with soy-sauce on their website. This action increases convenience for cooking lovers. Customers feel more excited when their everyday-cooking gets more of the brand-attention though buying only one soy-sauce bottle.
In general, customer-centric is a long-term transformation requiring businesses to have a proper awareness of their target customers. This awareness should also form in every staff of the company to make brands transform. Besides, this customer-in-center philosophy acts as a value connecting businesses with their customers; but not a task to be completed and to get rid of.
3. Challenge-utilizing to turn into opportunities
The digital age witnessed rapid and unpredictable changes requiring businesses to have timely adaptive solutions. Products are not only produced for quality but for customer convenience. Other customer needs are also considerable except for products themselves, namely membership programs, accompanying promotional gifts. Customers also tend to shop more on ecommerce websites, which leads to a requirement to manage information, data, and technology platforms. Epidemics also become dangerous, increasing unforeseen risks for businesses.
Utilizing the challenges will be sure leverage when brands transform into the digital age. Besides, people are still the critical factor, no matter how advanced technology is. Therefore, businesses first need to focus on the internal structure: human resources, processes, products, and customer services to complete the transformation.
The COVID-19 crisis has globally worsened since the Government issued a social-distancing-order as the number of confirmed coronavirus cases continues to increase. However, recently, the ecommerce industry has had a speedy growth, as people now prefer to shop online while staying home. This time is much higher challenging for every business in Vietnam and an opportunity to make brands transform themselves.
At SECOMM, we will accompany clients on every ecommerce step to ensure comprehensive solution-providing for their ecommerce transformation. The brands transform successfully in a digital age when they are operated with a sustainable website platform. We will be the starting point for this revolution. Contact Us for more detail.
With impressive recorded statistics, ecommerce businesses are increasingly asserting their essential role in the economy. However, together with positive development, the e-business field contains various challenges, evolving into barriers to the ecommerce industry and getting even more complicated in the Vietnamese market.
1. Quality of goods – one of the barriers to the ecommerce industry
The variety of products published on every ecommerce website is always diversity-guaranteed to meet almost the market needs. However, ensuring the criteria of goods quality has been an unresolved question up to now, becoming one of the barriers to the ecommerce industry. The burning issues of low-quality products, counterfeit consumer goods are eventually uncontrollable and exist in the market. Those effects can be derived from a couple of factors that can be analyzed from the perspective of the sellers, ecommerce enterprises, and consumers.
The seller’s consciousness
The low-quality of goods has come from the traditional trading model operated offline, and merchants inevitably take responsibility in that case. Although consumers can contemplate the offline model seriously, the product quality is still sellers’ responsibility and control. Uncontrollable-quality sources become a critical issue when merchants provide goods with a profitable price to get much higher returns by selling fake or inferior quality products with very attractively “low” prices. In the flourishing process of online business, those unsolved issues have the chance to spread across the online-offline frontier and lose control.
The perception of ecommerce enterprises
When the quality issue emerges, e-firms are the first to be impacted. Those types, namely B2C and C2C, act as middlemen for merchant support to sell products on ecommerce exchanges.
Consequently, those enterprises restrict the source of inferior products and entirely rely on consumer feedback to address the issue in a very passive way. The quality barrier prevents enterprises from gaining consumer trust to maintain their loyalty.
The buying awareness
The spread of low-quality goods partly comes from consumer awareness. In the e-market, there is still a consumer group preferring inexpensive or on-sales items to other high-price and authentic products to save the living cost or try a variety of products. They tend to choose low-price items neglecting the origin and information while never complaining about the lack of product-clarification. Low-awareness behavior gradually contributes to the growth of uncontrollable-inferior products and as a result, the development of barriers to the ecommerce industry.
The growth of poor quality products depends on many factors and the responsibility of sellers, businesses, and consumers for the sake of a healthy and trustworthy market.
2. Buying habits – one of the barriers to the ecommerce industry
The need to change buying behavior from offline to online is also one of the barriers to the ecommerce industry in Vietnam. To certainly clarify, take a look at three fundamental behavior-levels happenings when consumers make a purchase.
The first group is pure traditional shoppers, who tend to see and touch what to buy. They wholeheartedly believe their eye-process can ensure more quality and conformity of the product. Therefore, they never trust any online items because of unmanageable-value. As a consequence, changing the buying habit of this group is the most challenging requirement.
The second group is hybrid buyers combining traditional and modern buying styles. That hybrid group tends to select-for-best. For instance, they can quickly add a book or ten pens to their cart because it is more convenient than buying at the bookstore. However, they will directly go to a clothing store to choose an item that fits their size and ensure the fabric quality. That behavior similarly happens when they buy shoes, bags, or other fashion items. In brief, hybrid customers have changed their buying habits in the most popular fields over the years. Hence, there will be much higher requirements for unique products such as fashion items, technology devices, motorcycles, and cars in some cases.
The last group tends to complete online shopping. They take advantage of online shopping as a convenient and speedy tool, helping them save more time during the shopping process. However, this group still has some challenges: maintaining trust-worthy and credibility to upgrade target consumers to loyal customers.
While the increasing mobile-usage has somewhat raised the online shopping demand, the user-habit transformation is a worth-factor that needs better solutions in long-term strategies or it will be one of the barriers to the ecommerce industry. In particular, the significant element affecting ecommerce user-habit is the story of quality-expectation and the reliability of online stores.
3. Barriers to the ecommerce industry in Vietnam include long-term investment
Long-term productive resources in the ecommerce market are also one of the considerable barriers to the ecommerce industry. For this purpose, the ongoing need includes warehouse management, branding & marketing, payment & shipping processes. Consequently, all of the elements should require enterprises to keep the non-stop funding on continuous losses.
Along the same lines, small and medium-sized enterprises can not afford long-term competition versus the ecommerce giants in the market. For instance, international names like Alibaba, JD.com, or Amazon create an enormous distance for other SMEs to overtake.
In general, the capital investment race invisibly makes large ecommerce businesses more robust and extensive. Meanwhile, it oppositely generates more barriers to the ecommerce industry in Vietnam due to the lack of sufficient capital in the long term. Following this, depending on each organization, there will be many issues when operating an e-business. Therefore, it is necessary to have the most comprehensive outline and meticulous ecommerce study to set the oriented developing goals.
Using an appropriate technology platform for websites is one of the keys to improving the sales channel’s operational efficiency, bringing advantages to business and brand development for ecommerce businesses in Vietnam. The ecommerce industry in recent years has become a more vibrant topic than ever before with a growth rate record and has received prominent attention and investment from the top ecommerce giants of the world.
1. The developing process of ecommerce businesses in Vietnam
To discuss the establishment of ecommerce businesses in Vietnam, firstly, it is necessary to look at the development of the website systems. Years ago, the websites primarily displayed information on the Internet for easy access from audiences. Gradually, it has become a competent tool in creating brand identity, improving reliability, and supporting businesses to collect one-click testimonials from their visitors.
Over time, businesses want to increase productivity by selling products while saving costs and facilities. On the other hand, customers also need to buy products faster without directly going to the store. That is the reason leading to the birth of ecommerce.Today, the flash development of ecommerce allows businesses to easily access the market while increasing the opportunity to maximize user experience. In Vietnam, the ecommerce market has only been growing in recent years but has made a breakthrough with prominent brands like Shopee, Tiki, and Lazada.
2. Highly-recommended platforms should apply for ecommerce businesses in Vietnam
Magento has excellent functions, which highly create flexibility and adaptability, accommodating all sizes of ecommerce businesses in Vietnam. However, Magento is not very friendly for beginners. Instead, the platform has a massive range of features that are adaptive for almost the user-community.
Optimize search engines and security
Include a variety of features supporting the sale and management of products
Support multiple currencies, languages
Integrate most of the payment gateways
Only suitable for users having a basic understanding of code and web systems
Require payments for extensions
WooCommerce is not an autonomous platform to build an ecommerce website. It is a type of plugin running on WordPress. In other words, WooCommerce will optimize ecommerce functions for the website community based on the WordPress foundation. Thus, enterprises can start an online development plan in a more accessible and faster way.Utterly different from Magento, WooCommerce is more comfortable to use, especially suitable for beginners. Plus, it also possesses enough extensions handling almost basic tasks from product management to payment methods that can bring a website to the top ecommerce business in Vietnam.
Provide free editions
Quickly access to extend features and customize the store
Have strong support from a large user community
Advanced features often require extensions
Extensions may need the other sub-extensions to support
Pick up enormous scores from users; Shopify possesses the functions to integrate SEO, supporting the website system work, and customize fluidly. It also provides services based on the SaaS model with the main control center.
Convey a considerable range of themes that can be selected depending on each category
Support users 24/7
Integrate ads and payment gateways via Visa, Mastercard, and other payments
Require payment when using
Request to use the available URLs
Not support domestic payment gateways yet
Not support Vietnamese yet (High-consideration if businesses plan to develop ecommerce businesses in Vietnam)
Haravan is an open platform allowing easy website creation with similar characteristics to Shopify and WordPress. The platform possesses various features providing more conveniently supportive sales-management tools, especially the multi-channel sale on ecommerce websites, namely Lazada, Shopee, and Tiki.
Allow users to develop a variety of functions
Have an inexpensive cost
Support the Vietnamese language
Require payments when using some of the extensions
Run as a local platform that is highly suitable for SMEs in Vietnam
3. Web design is the key to kick-off ecommerce businesses in Vietnam
The website system is a prerequisite to be maintained, updated regularly and continuously because it is the only interface connecting businesses and customers. For ecommerce businesses in Vietnam, designing a web system plays a crucial role in contributing to the success of an online business or its failure. This design phase is usually performed by the UI/UX team responsible for both visual and user experiences on the websites.
With the experience of developing ecommerce websites, SECOMM developers can apply most of the current platforms to meet our partners’ needs, especially ecommerce businesses in Vietnam. We always value the quality of our work and provide the most appropriate solutions to the occurring issues. Promptness, timeliness, and quality are the consistent goals that we always aim at in the process of operation.
Having a large market share worldwide, Amazon takes a powerful attraction when targeting the Vietnamese market. The Amazon presence carries out both opportunities and challenges for the e-business in Vietnam. Since then, there have been plenty of opinions assuming that Amazon aims at stimulating the market competition among Alibaba (Lazada), JD.com (Tiki), or Shopee (an ecommerce giant from Singapore).
1. The growth of e-business in Vietnam
One of the factors stimulating e-business growth is the high demand for the internet, in which Vietnam is the top-country in terms of internet users. Therefore, online selling has a fast-growing rate with impressive recorded statistics and contributes to the country’s market economy in many ways. The following is the large-scale blooming of e-business in Vietnam.
Besides, online businesses can easily access the market while just using about 1/10 of the marketing channels’ cost. Low advertising costs have increased the popularity of online sales, which grows not only on the domestic scale but also globally.
Since 2016, e-businesses in Vietnam have undergone significant breakthroughs by cooperating with international partners, making businesses participate in the e-business market, and marking the premise for the outstanding growth of e-businesses at present.
2. Opportunities for e-business in Vietnam when Amazon enters the market
The Amazon penetration into the Vietnam market has come up with new opportunities for a huge community of e-business in Vietnam. The country has a strong potential for traditional handicrafts, which are considered unique and ideal for selling online. With that strength, Vietnam will promote domestic products to international markets at competitive prices.
Under the support of Amazon Global Selling, Vietnam brands can integrate with international e-markets with significant growth, which is a step toward the digital economy in Vietnam.
Vietnam has expertise in producing goods, so Amazon Global Selling’s participation meaningfully contributes to accelerating the market-expanding process for both international partners and consumers. That contribution can boost the working process for Vietnamese businesses and the ecommerce market share of the economy.
3. Challenges from the penetration
Besides wide-open opportunities, e-business in Vietnam quite faces significant challenges from the Amazon advent. Firstly, Amazon makes domestic ecommerce in the face of fierce competition. The Vietnam market had welcomed Alibaba previously. Nevertheless, it was not overly ambitious because large enterprises had their proven capability in this field, namely Shopee, Tiki, Sendo. However, the long-term race invisibly extends a boundary for SMEs to cross over or get close to the same level.
Secondly, publishing products in the international ecommerce field increases expenses. The more giants join the ecommerce game, the more earnestly and competitively the race of spending money becomes. However, plenty of e-businesses focus on the spending process of selling 1 billion dollars of goods without having correct forecasts on long-term expenses. In the long run, over-spending will require more investment, affecting the bottom-line growth, namely the businesses’ net profits.
On the other hand, the origin and quality of goods need to be guaranteed. Regarding the current ecommerce market in Vietnam, fake or counterfeit products have not been solved thoroughly up to now. As a result, selling on Amazon will face restrictions if businesses can not control their goods’ quality. Simultaneously, it requires policies from the government to promote ethical businesses within the Vietnamese economy.
In general, Amazon has created a new breeze for e-business in Vietnam. It plays a vital role in stimulating market competitiveness, improving product quality, and user experience for great customer-oriented support. However, to do that, businesses need to have the right strategies in addressing challenges and difficulties to shorten the cooperation process with both partners and international customers.
The development of B2B businesses is increasingly affected by the quality of online content. Due to differences compared to B2C models, the B2B have specific characteristics of customers, products, and longer transitions, making the content planning process a bit differently between the two types. To conceptualize an effective online content strategy, marketers need a thorough understanding of B2B business nature.
1. An effective online content strategy has a significant impact on B2B business
Content shapes business objectives to reach the goals
Several conflicting opinions often appear, which leads to much suspicion about the actual benefits that content brings to businesses. The doubts possibly stem from different issues when implementing client research or positioning the development orientation. A B2B effective online content strategy results from a meticulous and thorough investigation of all aspects of the business, including the market, competitors, clients, entrepreneurial potential, and much more.
Those factors are the initial steps for the content strategy. When the letters’ sequence creates their miracles, businesses smoothly fulfilled the original objectives to reach out to the developing goals. As a result, content shapes everything that the industry puts out, prompting customers to take action with the services or products they desire.
SEO contribution for an effective online content strategy
In other words, SEO will have no result if supportive content does not exist. With a diverse and high-end content system built in advance, SEO specialists can easily optimize the website rankings and reliability on search engines with more strategic approaches. Besides, businesses can use BLOG to develop an abundant content base, attracting more users to visit the website.
2. Effective online content strategy, how to?
Identify target audience – well begun of an effective online content strategy
Business needs to research accurately and specifically about the target audience to implement an effective online content strategy. Content creators also need to determine who they are writing for, what they are writing for, and what value are they seeking?
First, find out information about businesses to identify audience target with the following fundamental questions:
Is it a multinational, international, or domestic enterprise?
The number of staff?
Portfolio of projects?
Portfolio of clients? Testimonials are highly appreciated.
Business field and business status?
How old are the decision-makers? Gender? Their position in the business?
The factors leading audiences to use products/services
Figure out the pain points of productivity, working process, finance, and other related factors.
Problems they want to fill?
What are they happy with current products/services?
The buying process
Who makes the buying decision? Role of every decision-maker in the buying process?
The personal objectives behind buying decisions: measurable KPIs, productivity, revenue
How long does the buying timeline take?
About the decision-maker:
Personal information: name, portfolio, career motivations, demographic characteristics (gender, living area, interests)
What are their emails or other accounts on Linkedin, Facebook, and something like that?
Among those accounts, which do they often use?
Which level of content do they prefer to read? (general information or specific topics)
Is their work at the office or on the go?
How do decision-makers seek new information?
Set clear sales goals for an effective online content strategy
Sales goals are also an important step to prepare for an effective online content strategy. These include business goals and content goals. In particular, business goals play as the direction for specific objectives and targets in businesses, including criteria on sales, market share, growth, revenue, and profit. Besides, the content target is a part of the marketing objective, a supporting factor for the business goals in developing the speed of goods/services distribution, brand positioning, value in use of the products, and loyal client creation base for the brand.
Specific content targets will create a solid foundation for a content strategy from the simplest and most basic targets. The following proposed targets will be:
Increase traffic to the website
Provide educational and training information
Maximize SEO tool and search engine rankings
Combine with other channels of marketing strategy
Create loyal customers for the business in the long term
It is acutely worth reminding that simultaneously achieving all the goals is impossible. That is a greedy view. Instead, prioritizing the most important ones in the short/long term and dividing the targets according to each stage of business growth.
The S.M.A.R.T principle in an effective online content strategy
In the next step, concretize the above primary goals with specific factors based on the S.M.A.R.T principle. This process will help to set more oriented goals.
S refers to “specific”. The primary goals mentioned above need to be more specific. To specify them, ask some of the questions by using the “6W” formula, namely:
Who is responsible for this plan?
Who is the target audience?
Who controls the strategy?
What to do to complete the plan? Which are the best solutions?
What is the target audience seeking? Which of them are mostly priorities?
When will the content strategy take place?
When does the strategy approximately end?
When is content published?
Where is the content distribute?
Why are those types of content used?
Why does this goal need to be completed first to carry out productivity for this content strategy?
M is “measurable”, which means the goals in detail. Those quantitative factors can be data collection, revenue, sales performance, customer satisfaction, and customer experience surveys.
A means “applicable”. No matter how specific the goals are, they need to be feasible and appropriate to the team-ability. Sometimes, to accomplish these goals, the staff need to improve their skills or undergo training processes. These are all essentials to approach closely to the previously measured goals. From that basis, marketers can estimate a suitable figure for the target. For example, if the sales revenue increases by 5% last month, setting a goal to increase sales performance by 10% this month. Oppositely, setting the 30% increase target would be unreasonable. Although there will be differences and characteristics of every single industry, measurable goals require a meticulous research process in general.
R is the beginning of “realistic” or “relevant”. To set the goal of studying abroad in Australia, make sub-objectives such as studying IELTS, finding a study abroad counseling center, applying for a VISA. However, studying Korean is not related to the whole abroad goals; it can not join the study plan. That plan is an underlying visual instance for a better understanding of relevant and real goals.
T, talks about time. The limit of time is essential to proceed with the on-time plans and break down the goals into actionable tasks. Time-bound brings a consistent and effective online content strategy in all aspects.
3. Creative, unique and impressive content ideas are highly-appreciated
Unique and innovative ideas impressively contribute to an effective online content strategy. However, they are all a plus, not compulsory. In other words, creative ideas are supportive tools that help businesses grow faster, but more than a creative-content factor needed to accompany enterprises with long-term development. To do so is to gain the foundation of Marketing understanding that distributes creative content into suitable channels.
Generally, novelty can attract potential target audiences. Here are some of the suggestions to be more creative when brainstorming ideas to run an effective online content strategy:
Make a list of inherent topics that can divide into specific ideas then.
Search engines (Google, Bing) also help to brainstorm different opinions. It supports creating SEO-friendly content that closely approaches niche audiences.
Try visiting competitors’ websites or reviewing customer feedback to find new customer insights that competitors have unfortunately missed.
Review the earlier published content on the Blog page and pay attention to some of the not detail-clarified points.
Develop ideas in new posts that help web content systems be more detailed and relative. The tight, accurate content system can easily slip into specific audiences. Besides, a connective blog-post system boosts SEO performance more naturally.
B2B enterprises do not just need only one effective online content strategy. However, the effective one produces a substantial range of benefits for business, from improving the website-popularity to increasing sales revenue.
SECOMM, with expertise understanding, always seeks prudent solutions in both web structure and content system for partners in the working process. With well-trained staff, we understand how an effective online content strategy impacts brands. We hope to convey new values from old platforms and build fresh ideas from the hybrid of information based on materials.
Ivy Phan (Project Manager at SECOMM) is the speaker of that general talk. Beginning with a brief introduction, Magento truly drew the whole team to a lively discussion. This Q&A time lasted throughout the host performance for over 3 hours of Saturday morning then became eventually interesting, with questions from both dev and non-dev members.
About TECH TALK 2020 – Magento Understanding
The first workshop of TECH TALK 2020, in other words, had a great sharing time making the team connect closely. Thus, Secommers not only have time together but also got new Magento knowledge. Thanks to the framework of Ms. Ivy, the team had the opportunity to share those foundation topics:
Magento platform in brief
Store hierarchy and configuration scope allow users to install multiple websites with multiple stores and store views.
Introduce basic configurations in practice with the content menu and email setting.
Digital transformation will be a risky journey if it is not driven by a fundamental strategy to assess current capabilities and considerable foresight. Most businesses are still quite vague and face certain limitations in planning a complete digital transformation process. Aside from the digital-data core, combining the process and model transformation is also essential to a much more strategic-vision of a future digital market with a complete and seamless digital ecosystem.
1. Challenges for business process and model transformation
Given the characteristics of the current Vietnamese market, digital transformation has received positive attention from enterprises. However, this process still faces many cultural barriers, strategies, and implemented technologies that make the process and model transformation not entirely useful.
Cultural barriers in process and model transformation
The corporate culture foundation is a crucial determinant contributing to the model transformation progress. Culture concepts refer to quite large factors of human resources (HR) thinking and perception existing inside the business, including:
Connection between the two above
The most significant problem creating cultural barriers is the traditional business ideology that developed businesses cannot collapse by digital transformation requirements or any other peripheral factor. It was not until being trapped by the outdated technology that they found they significantly fell behind the bustle of a much more modern market.
For corporate culture, leadership is the core value creating a complete preparation process to start a digital transformation strategy. The leadership factor plays a decisive role in the business’s strategic changes, simultaneously helps all employees understand and adapt to these changes fully and quickly. In particular, key leadership positions such as CEO, CTO, and other decentralized management levels are the driving force behind implementing more micro changes for each employee. Finally, rely on individual conversions to shape the overall change-process in the digital transformation strategy.
To satisfy all the above conditions, an organization needs prolonged-vision leaders of the current business models. It is complacency and “resting on their laurels” that make the traditional models stumble into the old path and have difficulty maintaining the position they once had in the market.
The HR potential is the next factor in becoming a cultural barrier in the process and model transformation. A significant change often encounters many difficulties when it comes to impacting HR awareness.
No matter how strong the HR is, it will be disrupted in the beginning if employees don’t fully get preparation for a ready-to-change and adaptive mindset. Lack of staff training in digital transformation strategy is likely to face harsh objections from the inside if forcing them to suddenly change their working style while they do not have enough time to adapt to new workflows. Simultaneously, the HR potential will also be a dangerous weapon that demolishes the digital transformation results if it is not prioritized and used accurately.
Among the two human factors, the coherence and connection between them also play an essential role in corporate culture. Connectivity includes the spiritual values businesses build to promote consensus, cooperation, and trust to turn strategies into realistic actions. The discrete connection or the disparity in digital capabilities reduces both efficiency and progression of the whole process and model transformation strategy.
There are two behavior tendencies in businesses making technology a barrier to process and model transformation strategies: being afraid of technology-changing mindsets that lead to obsolescence and technology-overusing that lead to wasting cost and time.
Up to 80% of SMEs in Vietnam use old technologies in the 1980s (statistics from the Vietnam Chamber of Commerce and Industry – VCCI) report. In addition to objective reasons such as lack of staff, skills, lack of a robust digital platform, it is much more significant that limited thinking and understanding in technology application are fundamental causes impacting the digital transformation process.
Indecision in adopting technology is also a negative factor. Technology overuse can create unnecessary conflicts with the process and model transformation. These techs will not bring optimal efficiency but a waste of budget and time to recover. Technology is a driving tool for digital transformation, and at the same time, it is also a rule-setter for businesses in the digital market. However, it is more important to decide which technology is suitable for which model instead of determining how many technologies to apply.
2. Solutions for process and model transformation
Technology orientation in process and model transformation
Technology solutions can solve lots of problems with data and process optimization inside a business. In the very beginning, they need to fully and comprehensively redefine existing processes, and at the same time, model them into maps and charts to identify:
How specifically each of the whole process elements works,
Factors need having a priority in that process,
Interoperability, two-way relationship between processes when running concurrently.
Analysis and control of the entire processes help businesses find out weaknesses and facing-problems, then apply more appropriate technology solutions to optimize the process and model transformation.
At present, a business has hundreds of requirements with suitable technology-types for their concurrent process and model. However, companies can develop solutions based on combining the big-four technology platforms in digital transformation: Big Data, cloud computing, artificial intelligence, and the Internet of Things. These tech-types possess lots of outstanding benefits that businesses can apply to create the most suitable digital solutions:
Big Data: A potential resource with a considerable data-amount that businesses need to exploit vital information to serve fully digital transformation requirements – optimize customer experience and maximize business performance.
Cloud Computing: the ideal storage and analysis platform for big data and other digital transformation applications. Cloud computing possesses outstanding advantages that can meet varied requirements for more than 90% of businesses in the today-market. This tech-type can significantly reduce management costs, operating workforce while increasing automation, work-load velocity, and optimizing the resources-using inside the company.
Artificial Intelligence – AI: It helps businesses perform intelligent automation functions that could substitute for humans in the future. Currently, AI is delivering positive results when businesses apply it to many different fields indeed, typically:
Marketing: search-engine optimization, sales system, building a customer-based personalization, and more,
Manufacturing: improving supply chain momentum using coordination robot systems instead of human resources, fully automated product quality control and monitoring systems, inventory-forecast software, and so much more.
Internet of Things – IoT: The connection between hardware and software in a system, scalable and integrating customized-functions to suffice end-consumer requirements while ensuring data confidentiality and security.
Organizational culture re-creation
Human and cultural solutions will effectively address corporate sustainability, change, and develop a digital transformation mindset for all employees in strategies and initiatives products/services to increase advantages over competitors.
Leadership thinking: plays a crucial role in building a specific vision and plan for the business process. This term is an unavoidable revolution for the lead-generation to proactively embrace innovations, be ready to perform new experiments, and make quick decisions to move businesses consistent with the market’s growth effectively.
Empowering culture: forming rights and obligations in each of the tasks employees undertake. At the same time, businesses can build an open culture where every staff becomes an archetypal representative in all connections with customers and the market. Deriving from core value “employee-centricity”, the digital transformation culture will develop into a complete model including the following components:
Customer-centric orientation: to optimize the customer experience in the digital age,
Innovations: to continually examine new transmutations and eliminate unsuitable factors inside the business model.
Flexibility, understanding when making decisions based on digital data: to thoroughly and accurately exploit customer needs from a huge source of big data.
The spirit of cooperation based on a modern-and-open culture are two factors creating the spirit of proactiveness and agility in all plans and actions also.
Digital-first mindset: the ability to use and apply accurate technologies to produce appropriate and reliable digital solutions.
Businesses can complete the process and model transformation with technology and cultural solution-orientations. Therefore, technological solutions will maximize their business operation efficiency. They also contribute to stimulating businesses to be always requirement-active in the digital age. And these positive results are based on a sustainable digital culture possessing robust and responsive leader-generations combining with high-quality human resources.
Over time, an extensive web development community has made important strides with great initiatives to shape emerging and disruptive development trends for modern digital businesses worldwide. Therein, website platforms have played a huge role in constructing stunning success. Magento timeline has also had the opportunity to frame impressive milestones and bring positive contributions to the ecommerce website development field.
1. Highlight functions of Magento that reign the ecommerce Market
A huge range of Magento functions not only conquers the interest of the web developer community but also reigns the world as one of the leading ecommerce platforms. Talking about its various highlight power, the ecommerce market is probably the place to get benefits from this platform.
PWA Studio of Magento (Progressive Web App)
With the amazing benefits of PWA, Magento developers cannot afford to miss this special opportunity. Then, Magento PWA Studio was born as an interface solution for ecommerce websites based on the Magento platform. With fast page load time, optimal performance, Magento PWA Studio has provided the best user experience, making ecommerce web pages more reliable and consistent across devices.
One of the salient advantages of Magento is the ability to add more extensions depending on specific user needs flexibly. That highlight makes Magento very suitable for different online businesses with various commerce activities. With this feature, website developers can integrate most extensions, including free or paid versions, to customize Magento with the best performance.
One of the important functions of the open-source platform is to integrate features supporting SEO maximization. Magento is considered to be a platform that implements SEO tools completely from product catalogs to independent products.
2. Recollecting the Magento timeline
Let’s take a look at the timeline of Magento from the very first launching in 2007 to the new upgraded versions during 2011 – 2018.
Magento timeline: 2007 – 2010
2011 – 2015
2016 – 2018
3. Facts about the Magento platform
Still, the platform is constantly being improved to meet the Magento user community’s diverse needs around the world. Truly, Magento has brought a lot of convenience and breakthroughs to the ecommerce website development industry. Below are magnificent facts about Magento you may not know.
With 8-year-experience in Magento, our SECOMM team has used Magento effectively to create solutions for partners/businesses. Magento timeline includes a huge amount of needs for the user community: beautiful and diverse themes, UI/UX design, security, effective cost, and so on. Especially in Vietnam, Magento is exactly the perfect tool to help ecommerce businesses control most of the features for online stores.
In the ending stage of all projects, SECOMM do appreciate our Secommers with their every single contribution. 2019 has officially ended in the vibes of “WORK HARD, PLAY HARDER”, also finished with a memorable trip to Phu Yen.
SECOMM Day 1
Said hello to Phu Yen at 7:30 a.m; we had gorgeous moments to enjoy the crisp, fresh air at the railway station, then followed the way leading to Mang Lang Church. The church stayed about 30km far from Tuy Hoa City to the north, was a Roman catholic construction built-in 1892 with two bells at the peak and the cross in the middle. Classic scenery created a fantastic background in many photos of us.
We continued moving to Da Dia Reef (or Ganh Da Dia in Vietnamese) on the same route. Everybody needed to walk along a small path from the entrance gate to see the basalt rock area.
As the Phu Yen natives, rock structure seemed like a giant beehive with stacking pillars from various shape-rocks, from circular looks to polygonal appearances.
In the next stopping-place, all the Secommers chose to walk together at the famous coastal land that appeared in the film “Yellow flowers on the green grass”.For ending the day-one-journey, we went to Nhan Tower in the evening. There was no particular expectation for that place, but its beauty truly caught our eyes. The tower looked mystic and fanciful under the warm light by night and was shining in the middle of the high land.
We went back to the hotel then joined an exciting SECOMM game show. It was a puzzle game for the three teams. However, what made it challenging to play was that the topic focused on everyday work and other areas of life.The atmosphere was getting more intense towards the end, and the winner finally came out to gain the worthy prize. Above all, the award could not be as crucial as the memorable moments we spent together.
SECOMM Day 2
On the second day, we spent the whole morning discovering the easternmost of Vietnam – Dai Lanh Cape. Walking on a small path leading to the Cape with lots of stairs, we also caught Mon Beach’s view. It was a small beach surrounded by mountains, white sand, and clear water. What a picturesque view!
It was then lunchtime. We continued to drive to the eco-floating rafts at Vung Ro Bay to eat all kinds of seafood.
We traveled around the city at night and bought some souvenirs, then took time to relax and prepare for the flight back to Sai Gon the next morning.