The COVID-19 pandemic has forced us to enter the digital era firmly in 2020. Most businesses rely on digital marketing strategies for this year. We can all agree that digital transformation is fast accelerating since the start of the pandemic. Technology had become an increasingly important part of the workforce even before the pandemic.
Businesses viewed technology as a useful tool for communicating with clients, allowing for some workforce resilience and introducing faster and automated processes. However, the spread of COVID-19 and the suspension of face-to-face meetings increased these adoptions dramatically. In the face of unprecedented challenges, companies have been forced to transform digitally to stay competitive and create connected experiences in this new business environment thanks to the internet. This fast transition made them realize that going digital is both productive and cost-effective.
With digital transformation at hand, real estate developers are jumping in the opportunities to improve their overall business operations.
The following are some of the driving factors:
1. A change to remote working
2. Contactless interaction is on the rise.
3. Advanced analytics tools are needed to help navigate an uncertain future.
So, what is Digital Transformation?
Digital transformation is the process of replacing older technology and manual operations with digital strategies and automation. According to Forbes, “Because of their company’s successful digital transformation, 56 percent of CEOs announced an immediate increase in annual revenue. You will increase your customers’ experience with your organization and grow your audience by integrating new technology systems and infrastructure to improve your business processes and gain better data insights.”
Digital transformation comes in many different ways especially for real estate in the Philippines.
Top benefits of digital transformation for businesses
1. Improved Customer insights and experiences
Customer standards have shifted because of mobile and technological advances. The modern customer is looking for convenience. What happens if you provide an out-of-date service? What happens when you can’t meet their expectations on simplicity and comfort? They will most likely move on. One of the significant aims of digital transformation is to improve the customer experience. Your customers’ lives will be made simpler if you provide them with digital tools. It increases the appeal of your company to potential customers. Businesses with clumsy, out-of-date experience can struggle to compete with those who keep up with new technology. After all, simplicity is key.
Do you ever wonder how certain businesses seem to know exactly what you want before you even ask? Or are their goods designed in such a way that they appear to read your mind? It is not magic; it is data analysis. These businesses are using digital technologies to gain a deeper understanding of their opportunities and customers. They’re collecting insights from consumer experiences and using them to improve constantly.
2. Easier Collaboration
With digital technologies, you can begin to see trends and understand why some strategies are more effective. Open communication promotes trust and helps to create a less centralized work environment. Developing a collaborative attitude reduces the “us vs. them” mentality and boosts teamwork. For example, digitizing the lead generation efforts will help the marketing and sales team be more effective. You can monitor historical client data related to interactions, preferences, and engagements using digital technology, such as CRM. Based on a customer’s previous experiences with your company, you can evaluate and review customer-related data and tailor their experience accordingly. This is made possible by Digital Transformation.
Team efficiency can improve productivity with the help of digital innovations.
3. Improved efficiency
Employers are searching for innovative ways to increase productivity, and digital technology is playing a key role in assisting employees in becoming more effective in their primary duties both within and outside the workplace. Digital transformation can support core business functions such as finance and human resources by shifting from manual processes to automating key areas like payroll, allowing leaders to concentrate on more significant business opportunities. This would provide several benefits, such as the process can be completed much faster and the need for human intervention can be eliminated.
4. Drives intelligent data-based insights
One of the most significant benefits of going digital is monitoring metrics and evaluating data gathered from digital marketing campaigns. More importantly, companies can use these insights to improve their strategies and processes for even better results. Being able to make educated decisions based on real-time consumer data in all aspects of your operations gives you a competitive advantage.
5. Increases profitability
Profit margins at the end of the year are the most significant indicator of digital transformation. The higher the earnings, the more motivated the workers will be, and the more important the customers’ confidence in the brand will be. More decisions can be made to improve the productivity of business processes, which can be directed toward enhancing customer service as profits are increased.
Staff is given more self-service choices, simpler internal communication, and heightened visibility through personalized dashboards through automating workflows with an AI-driven solution. A more productive and motivated workforce is created when employees have the resources they need to monitor results, minimize human error, and collaborate seamlessly with their team and other departments.
The shift to digital lifestyles in the New Normal has made most activities internet-based for most professionals, families, and homeowners.
7. It encourages innovation
The digitalization of business typically results in an innovation dynamic that enables it to be more conscious of emerging developments and technological possibilities. It may also aid in the development of team members’ innovation. Digitalization would not only depend on innovation, but it will also assist in achieving it in place to adapt rapidly.
8. Increases agility
Agility in business refers to the ability to improve and evolve rapidly, especially when it comes to digital processes. The Covid-19 pandemic surprised the business world by putting its agility to the test. Many people were forced to panic. They lacked the resources and strategies necessary to adapt quickly. There will always be new competitors, technologies, and trends to cope with. As a result, the consumer will expect more and expect it to be delivered faster and better than before. It’s crucial to stay prepared.
9. Improves working conditions
The benefits of digitalization in the workplace are numerous, and one of them is the improvement of working conditions. New job opportunities such as flexible working hours or teleworking need the help of digitalization to implement changes. It would be much more difficult without it. Improving working conditions offers multiple benefits, not only for employees but also for the company. It helps decrease job turnover and increase talent retention.
10. Increases flexibility
Breaking free from restrictive legacy processes and leveraging new, flexible alternative is a significant benefit of digital transformation. Existing business processes are often based on old technology that needs manual input, resulting in bottlenecks as workloads increase. Businesses that are transformed to work digitally can stay nimble and be responsive to trends and innovations in their market.
The digital transformation is changing the way businesses operate. As customers have demanded more contactless services, brands have seen a vast drive toward automation, which has improved their ability to provide this experience to customers. The fewer processes that employees must manage, the simpler it is for brands to have meaningful, safe consumer interactions.
The real estate industry, with a history of being heavily dependent on traditional methods, is now on the bandwagon for digitalization.
The Digitalization of Real Estate
Technology and real estate, like every other industry, are constantly evolving. However, the enormous effect that technology has had on our lives is unprecedented, which is why its uses are so prominent. The exponential growth of digital technologies such as social media has changed how real estate processes work. Real estate companies must focus on positive ways to improve productivity, distinguish, and position their products and services as they build customer loyalty. The sector also needs to develop digitally-enabled services to remain competitive and to continue offering their services remotely while pursuing more opportunities and a better customer experience. Therefore, keeping up with the latest developments in digitalization and housing is important. Because investing in a digitally optimized home is an investment in the future.
How luxury developers utilize digital transformation
At Crosswinds, we give importance to drive transactions with ease and most importantly while keeping a safe distance. Crosswinds by Brittany Corporation has remained committed to its mission of delivering the best services to customers, despite the massive transition to digitalization.
Crosswinds Tagaytay is a model of luxury real estate developers in the Philippines that adapted to the digital lifestyle in the New Normal.
The online services provided by Crosswinds cover the entire process, from property selection to amortization payments. Users can check out Crosswinds Tagaytay’s Virtual Tour for a tour in the Crosswinds community at any given time. Reservations for your preferred property type and other inquiries can be made online. We are ready to help you on your journey in finding the best luxury home in the Philippines.
Crosswinds is Brittany’s luxury real estate development and premier swiss-inspired resort located in Tagaytay City. It is the only Pine estate in the Philippines that offers luxury lots, luxury houses and lots, ready-for-occupancy condominiums, luxury pre-selling lots, and luxury pre-selling condominiums at:
The Grand Quartier at Crosswinds – a ready-for-occupancy mid-rise condominium located inside the Crosswinds community overlooking Tagaytay’s landscape views.
Lausanne – a pre-selling mixed-use development with six enclaves located at the highest point of Crosswinds community with views of the Metro skyline, Laguna Bay, Manila Bay, and the uphill of Tagaytay.