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Challenges for new businesses

By: Ernst & Young Colombia

The new emerging companies in the digital age have unique challenges and the way able to cope, will determine business model to follow, according to how the company evolves into an increasingly digital. Social media or social networks are an unstoppable media phenomenon that continues to change the consumer's attention and behavior compared with traditional media and old media business to us. Have fundamentally transformed how people behave online and created new expectations about how companies interact with each other and their stakeholders.

both new media and organizations must learn to manage and take an ever-changing nature of that technology has to evolve its products and services to reflect the latest technological innovations that improve the customer experience.

Companies deploying successful digital strategies have played a major role in shaping the customer experience, developing new channels and new media platforms. These are the ability to collect statistical data on consumer behavior reveal some insights that have the potential to improve all phases of the shopping experience, regardless of whether a product or service they are selling.

Two forms commonly used by companies that use this type of digital strategies, have been identified and used these as innovative tools and have begun to provide local services directly through them, taking advantage of the benefits they offer social networking. For example, recently added Twitter from your applications one that can identify people geographically, and Starbucks offers discounts and corporate business opportunities to those who follow certain steps and to register online.

Meanwhile, some more traditional companies that use digital media are facing serious challenges due to the business model they use, for the first time are in direct contact with consumers, rather than relying on distributors and dealers who deliver their content or speak with your target audience. They must also adopt new strategies to approach the consumer and invest in them, creating new content for distribution and new models of monetization, in other words, start charging for content and services provided through the website and mobile phones.

organizations can no longer rely on a traditional one-way communication method. They are now using digital media platforms like Facebook and Twitter, among other services to be closer to their consumers. They are developing a variety of social technology systems to listen, monitor and analyze the interaction with and between consumers. This method has been tested successfully as a tool for identifying changes in behavior and the establishment of strategies that involve the participation in social networks.

The most important thing that businesses can start their social monitoring strategy is of vital importance to ask about technology platforms and systems should be using to reach more consumers in this era.

Source: Digital Note