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|In: Digital|Last Updated: | 0 Comments

At least 40% of all businesses will die in the next 10 years… if they don’t figure out how to change their entire company to accommodate new technologies.

Digital transformation in its simplest form means the use of technology to radically improve performance & reach of enterprises. But it does not merely stop at that. As technology becomes a permanent fixture in everyday life, the best organizations combine digital technologies with strong leadership to bring about real transformation.

Image Source – Digital Evolution

Business and IT leaders are eager to fully utilize key digital technologies such as analytics, mobility, social media, IoT, Machine Learning and smart embedded devices to vitalize their customer relationships, internal processes and value propositions hence, bringing the much needed digital evolution.

Even though the digital transformation is a long journey with the gradual evolution of the organization, there are a few key elements which are to be taken care off while beginning the transformation endeavor. Implementing advanced digital technologies, improving customer experiences, transforming internal processes, re-evaluating and designing improved business models and bringing to the fore your key value propositions are some of the key elements of a digital transformation exercise.

Digital Evolution is more of a business evolution than a technology initiative. It has created a rapidly changing business environment and has compelled companies to rethink nearly everything they do. Pro-actionary approach along with quick adaptability and flexibility is required for an organization to stay on the leading edge of the digital landscape.

This is a time of Digital Darwinism – an era where technology and society are evolving faster than businesses can naturally adapt. Therefore, as companies look at moving business platforms and technologies, corporate leaders face an endless list of initiatives to consider, prioritize, evaluate, validate and implement. The challenge is to ensure that their priorities are aligned wisely. Without any strategic direction, every single attempt to evolve digitally can end up disjointed and ineffective.

Mr. Ashok K laha [Image Source]

It’s no surprise that digital evolution is an ongoing wave of new technologies and capabilities that are coming at us at an unprecedented pace. The major one being the data revolution which has emerged as a new weapon in the industry in the recent years. It is being generated, combined, recreated and consumed at significant levels which are facilitating changes within the organization.

But the question to be asked is Are companies investing in the right technology for their Big Data needs in addition to the training of marketing and IT personnel?

Given the speed of evolution and scope of impact, an organization needs to fully understand the opportunities to be gained and lost, spot important trends and identify its competitors in order to evolve along with the world and its gadgets.

Cyber security is another major concern when we talk about digital evolution. The world currently deals with approximately 2.5 million cyber security threats per second. Most of the business leaders are reluctant to innovate due to cyber risks. However, these risks are worth dealing given the plethora of opportunities that digitization offers. Else, sitting on the sidelines and not responding to the market conditions and threats will become the fastest way to extinction.

With the new Modi Government at the helm, we as a country are making great strides in digital transformation. Reforms like demonetization, GST, and Digital India will act as stepping stones in helping the country’s businesses and economy to digitally enable and transform them.

Digitization is a gift to the organizations though it takes investment, agility and relentless focus to stay ahead. The road to digital evolution is far from easy but it carries great incentives for businesses and customers alike. The digital industry could be an important vehicle for change and it could provide the opportunity for India to dramatically expand its role and influence in the global economy enabling it to become a powerhouse of digital innovation.

About the Author

Mr. Asoke K. Laha is the Founder, President & CEO of Interra Information Technologies. Interra Information Technologies has been a leader in the Information Technology Industry since its founding in 1996. Headquartered in California, the company’s operations and sales network spans across multiple countries. You can learn more about them at www.interrait.com. You can also connect with Interra Information Technologies on Facebook, Twitter, Google+ and LinkedIn.

|In: Education|Last Updated: | 0 Comments

Capturing the growing influence of the Internet on the education industry in India, Google and KPMG released a joint report titled; Online Education in India : 2021. The report reveals that the online education industry will grow at a healthy rate of 8x, to become a USD 1.96 billion industry by 2021. The report is based on a comprehensive market research conducted by KPMG, along with a primary research and combined with insights from Google search. The report finds that the paid user base will grow 6x from 1.6 million users in 2016 to 9.6 million users in 2021.

The report revealed that over the last two years, there has been a 2x growth in online searches for education and a 3x growth in searches from a mobile device. Also, 44% of education searches are now coming from beyond the top 6 metros and there has been a 4x growth in education content consumption on YouTube in the last one year.

Highlighting the segment wise growth in the online education space, the report highlights that re-skilling and online certification is currently the largest. In 2016, it was valued at USD 93 million, and is expected to grow at a CAGR of 38% to reach 463 million by 2021. As per the report, the primary and secondary education category has the largest addressable audience with a student base of around 260 million when compared to the other categories. Owing to this, the primary and secondary supplementary education segment was the second largest category in 2016, and will grow at a CAGR of 60% to reach USD 773 million, making it the largest category in 2021. The test preparation which is a small segment as of today is likely to grow at an impressive CAGR of 64 per cent to become a USD 515 million category in 2021.

Speaking about the key findings of the report, Nitin Bawankule, Industry Director, Google India said

The online education segment is set to become a multi-billion dollar opportunity in India. There are many factors driving this growth including the perceived convenience, increased reach and personalization offered by online channels. It is also interesting to note, that high growth in education search queries is now coming in from Tier 2 and 3 cities such as Patna, Guwahati, Aligarh and Kota – which points to the opportunities that growing penetration of smartphones and improving quality of internet have opened up.

Talking about the future of the online education industry in India, Sreedhar Prasad, Partner, KPMG India said

There are several evolving trends in the Indian online education segment that are contributing to the growth opportunities ahead. These include emergence of hybrid learning channels, continuous need for working professionals to learn new skills as well as emergence of technologies such as big data and artificial intelligence that is enabling online education vendors to design customized content. At the same time, it will be critical for players to deliver differentiated offerings for consumers to see continued value in online education channels.

The complete report Online Education in India : 2021 can be downloaded from here

Report Methodology

The Online Education in India: 2021 report is based on a primary qualitative and quantitative research that covered over 3,600 respondents across 27 geographies including metro and non-metros to understand the growth of consumer paid online education market in India by 2021. The respondents are in the age group of 16-45 years, both male and females, who are online/ offline course takers/intenders and parents of primary/secondary courses. Insights from the primary research have then been combined with KPMG India’s proprietary sizing model as well as Google search trends and KPMG India’s industry intelligence.

|In: Digital|Last Updated: | 0 Comments

Intex Technologies announced their in-house digital e-payment App-Intex MyWallet going live on Google Play Store for all Android users outside Intex as well. This is the brand’s step towards facilitating day-to-day payments for all mobile users in seamless manner and contributing to government’s vision of making India a cashless economy. Built and designed on a highly safe and secure encrypted platform, the app is free to download with full proof security.

Intex technologies partnered with Tata mRupee last year to foray into the digital payment ecosystem with both B2C & Retail assisted models with vision of making consumers’ daily transactional needs quicker and convenient. Intex MyWallet is equipped with a wide range of payment options across segments ranging from recharging the phone to paying utility bills like postpaid, gas, electricity, DTH, landline, data card etc. is just a single click. The wallet also allows users to book Railway tickets through IRCTC and other entertainment bookings through various gift voucher & coupons. The app allows users to send and receive money at ease as well.

The app is powered by Tata mRupee with a secure backend technology and its main features include:

  • Send / Receive Payment
  • Online Recharge and Utility Bill Payment
  • Add Money to your Intex MyWallet
  • Pay for Travel
  • Shop Online & More
  • Coupon, Offer & Deals

To further build the digital ecosystem, Intex is also planning to implement Intex retailer portal wherein the Intex retailers will find additional opportunities to get higher share of customers’ wallet by offering retail assisted services. The retailer portal will help the unbanked consumer to carry out various transactions including the domestic money transfers.

Shortly Intex My Wallet will also be deeply integrated and pre-loaded with Intex smartphones for users to carry out transactions and also earn loyalty points for various digital purchases like videos, games and other content. Intex is working closely with its Partner Tata mRupee to expand the utility and entertainment merchant base with getting merchants across various segments (online & offline) on board.

Commenting on the expansion, Vineet Singh, Head-VAS, Intex Technologies said

At Intex, we are constantly innovating our products and services. Digital Ecosystem has been at the forefront and we have now created a one stop solution experience for users looking for both utility and entertainment needs. Our mobile payment ecosystem is one of our core digital drivers and with this expansion our m-wallet services are now available to all android users on Google PlayStore, making day-to-day transactional needs easy. We will continue to innovate and keep integrating various digital services into our devices and commit to enhancing Intex mobile user experience at competitive pricing in future as well.

Users will be rewarded for accessing content and other utilities which will help them earn loyalty bonus point which could be further redeemed for various utility payments or could be converted to cash depending on needs. These loyalty rewards will ensure upward movement in consumer value chain.

The BETA version of Intex MyWallet can be downloaded from the Play Store from here

|In: Technology|Last Updated: | 0 Comments

Highlighting the growth opportunity in the digital payments industry in India, Google and Boston Consulting Group have launched a report, Digital Payments 2020. The report provides a comprehensive overview of the current transformation underway in digital payments and its impact on the overall payment landscape in India. The report is based on Nielsen’s qualitative and quantitative research with over 3,500 respondents, combined with BCG and Google’s industry intelligence.

  • The report projects that by 2020, the size of digital payments industry in India will be $500 billion; contributing 15% to India’s GDP.
  • By 2020, Non-cash* contribution in the consumer payments segment will double to 40%. Already 81% of existing digital payment users prefer it to any other non-cash payment methods.
  • Online, shopping, payment of utility bills and buying movie tickets have emerged as the three top things that a user primarily interacts with.
  • Indian consumers, are 90% as likely, to use digital payments for both online as well as offline transactions. Over 60% of digital payments value will be contributed by offline points of sale such as unorganized retail, eateries, transport etc.
Click to zoom
Click to zoom

Speaking about the key findings of the report, Rajan Anandan, VP, SEA & India, Google said

Spurred by smartphone penetration, and supported by progressive regulatory policy, the digital payments industry is at an inflection point and is set to grow 10X by 2020. It is telling that half of India’s internet users will use digital payments and that the top 100 million users will drive 70% of the GMV – a clear indicator of the growing importance of the digital consumer.

Alpesh Shah, Senior Partner & Managing Director, The Boston Consulting Group, India said

Global digital payments is undergoing rapid transformation and is set to grow four times in value by 2020. India is on an even more exponential growth trajectory. The smartphone explosion will usher in a new era in digital payments in India over the next few years that will see digital payments exceed $500 billion by 2020 and non-cash transactions exceed cash transactions by 2023

Based on the research conducted, convenience has emerged as the most important factor that is driving this growth. This is followed by availability of offers while opting for digital payment methods. The report also highlights that micro-transactions will form a substantial portion of the industry, with over 50% of person-to-merchant transactions expected to be under INR 100. The report predicts that the value of remittances and money transfer that will pass through alternate digital payment instruments will double to 30% by 2020.

*Non-cash includes cheques, demand drafts, net-banking, credit/debit cards, mobile wallets and UPI

The report identifies the various challenges that the digital payments ecosystem will need to overcome in order for the industry to grow to its potential. The research has shown that 1 of 2 non-users haven’t used digital payments because they found the product too complicated to understand and 61% of non-user merchants find it complex to use. Additionally, universality of acceptance of digital payment methods and merchant concerns around speed of transactions during peak hours have emerged as other inhibitors to usage.

Report Methodology

The report is based on a qualitative and quantitative research executed by Nielsen. Insights from this research were then combined with BCG’s proprietary sizing model as well as Google and BCG’s industry intelligence.  

For the purpose of the study, Nielsen conducted 14 group discussions, and 26 In-depth interviews for users and merchants in 3 cities [Mumbai, Lucknow, Delhi], and inputs from these were then used to form a comprehensive consumer and merchant quantitative survey. The consumer survey covered over 3,500 respondents [Digital consumers – 1,516, remittance users – 917 and merchants – 917], across nine geographies – Delhi, Mumbai, Bangalore, Ludhiana, Lucknow, Indore, Surat, Vishakapatnam and Coimbatore.

|In: Digital|Last Updated: | 0 Comments

Nikon India, the 100% subsidiary of Nikon Corporation Tokyo, leaders in imaging technology, has come up with a new DVC campaign #DiscoverYourself. The campaign is targeted at today’s millennial generation to encourage them to step out of their comfort zone and explore life.

The campaign is currently live on Nikon’s social media platforms with 1 million plus views and runs for duration of 6 minutes and 50 seconds. The DVC portrays a young couple who have taken the plunge of quitting their jobs despite being well performers, in pursuit of their individual dreams. The video also attempts to transcend traditional norms and notions for a young unmarried couple and the youth from 21st century encouraging them to seek soulful happiness. The campaign tagline ‘I AM A SEEKER, I AM NIKON’ states how the brand Nikon is encouraging individuals to pursue their goals and find their true selves.

Sajjan Kumar, Vice President – Imaging Division, Nikon India says

The DVC has been created to celebrate the enthusiasm of the new age generation, who is ready to undertake risks and fulfill their passion and dreams. At Nikon we believe in encouraging individualism and an entrepreneurial spirit among the youth today. The DVC reinforces our image as a unique driving factor for the people to accomplish their goals.

About Nikon India

Nikon India distributes markets and services the complete range of Nikon imaging products, the newly introduced Nikon Sport Optics & Nikon Instruments. The Nikon Imaging includes its Nikon D-SLR as well as its compact camera, the Nikon COOLPIX, the Nikon 1 camera system, a range of NIKKOR lenses & accessories. With offices in Mumbai, Kolkata, Bengaluru, Delhi and Gurgaon, Nikon is strengthening its Sales & Services network all across India. For more information, please visit Nikon India

|In: Digital|Last Updated: | 0 Comments

Times Internet, India’s leading digital products company have launched SpotLight@TimesInternet, India’s first all-encompassing content studio, providing marketers with content strategy, development and marketing solutions for their brands. This powerhouse has been created with a vision to be an end-to-end solution provider for marketers, giving them a chance to own a full scale content hub with Times Internet through SPOTLIGHT. What makes SPOTLIGHT stand out will be its ability to create branded content not only in English, but 9 other Indian regional languages across 150 million users.

[Image Source – Business2Community]

SPOTLIGHT aims to be a strategic partner for brands – from strategic recommendations to reviewing and editing existing content of brands and creating new branded content. To ensure the success of its latest venture, Times Internet is also pleased to announce that Neha Gupta has joined as Head, SPOTLIGHT with the mandate of working with marketers to create compelling branded content that meets their goals. Neha, was formerly VP Brand Solutions and Sales Strategy at NDTV convergence.

Speaking on the launch, Neha Gupta said

I’m extremely excited to be a part of creating SPOTLIGHT. This content studio will create new, best in class branded content.  Along with Times Internet’s unique reach and scale, it will provide a strong differentiator to brands and will help them increase their digital presence by showcasing their branded content. We will partner with brands to create stories, info-graphics, galleries, videos and new exciting native content solutions in English and multiple regional languages.

The SPOTLIGHT advantage

  • Reach and Scale – Through SPOTLIGHT not only do brands get a chance to create great content, but also populate it across the Times Internet Network that caters to 150 million users every month across genres, and languages.
  • Access to content creators – SPOTLIGHT will give marketers access to the largest editorial talent pool in the India – people who are experts in multiple genres to create and curate their content.
  • Mobile, Social and Search Discovery – Content created through SPOTLIGHT will give brands a chance to let their audience discover content in-stream in similar format as the Times Internet sites as well as third party publishers online.
  • Audience Analytics & Insights – As a part of the Times Internet group Spotlight has been created to know both – brands and their audiences. Spotlight will provide marketers with detailed report and insights.

Gulshan Verma, Chief Revenue Officer, Times Internet said

We are ushering in an era, where everything around us is content. With some of the best minds in the business across genres and languages with us, this was the right time to create a studio that unites all our capabilities. For marketers, SPOTLIGHT-India’s first all-encompassing content studio, will not only develop branded content, but will also give them access to India’s largest digital network – Times Internet and beyond.

Interested marketers can visit SPOTLIGHT and can send in their queries to spotlight@timesinternet.in

About Times Internet Limited
Times Internet, India’s leading digital products company and the digital venture of Times of India, India’s largest media and entertainment group. Reaching over 150 million visitors each month, with businesses across content, entertainment, classifieds and transactions. Times Internet Limited websites are among the fastest growing Web / Mobile based networks worldwide. A powerful portfolio of world class product brands that are market leaders in the country which reaches, engages and ultimately transacts with customers in their preferred medium.  For more information, please visit Times Internet

|In: Marketing|Last Updated: | 0 Comments

Digital marketing is essential to the success of any business. Although there is still a place for traditional marketing methods, these must be used in conjunction with a good digital marketing plan. It is only through digital marketing that you can reach a huge market of previously untapped potential. Here are the reasons and tips for getting the right strategy:

Devising a digital marketing plan

The first step in devising a digital marketing strategy is planning; the sheer number of options available can be mind blowing it. It is essential to know what you are after to ensure you target the right markets.

Over doing it

The worst decision to make is attempting to launch a presence on all the social media sites at the same time; it will be too complicated and time consuming to keep up to date with all of them and you will be unlikely to get a good level of success from any of the sites.

Customers

Before you can launch your marketing efforts you must decide what your customer base is and which sites or advertising routes are most likely to obtain their attention. Your marketing campaign must be aimed at them as personally as possible.

Assess the market

The next important criterion is looking at the market, your competition and, in particular, what they are offering and how you can offer something better of critically different. Identifying your competitors will also help you to identify where to launch your digital marketing campaign. The stages will ensure that your digital marketing strategy has a direction; this will also give your business direction. You must know what your goals are before you develop your strategy, if you do not your business will flounder.

A solid strategy and an understanding of the market will also give you a good understanding of your customers and their needs. This will ensure you do not duplicate your efforts and you do not waste time on campaigns that will have very little chance of success.

Goals

Having decided upon a market and how you will differentiate your product you will need to look at your current position and where you would like to be. It is essential to have a plan and a goal to aim for; this gives you something to assure the success of your digital campaigns by and the drive and motivation to do well in business.

Measuring

One of the most important parts of any digital strategy is actually monitoring the success of a campaign; this will provide valuable information regarding whether to repeat the campaign, extend it, or simply discard it and try another approach. To ensure you can do this properly you must decide upon your monitoring tools before you start the campaign; and get them ready.

The tools you use to measure can also give you a good indication of your current market share; this is important as you will need to know which direction to take your campaign depending upon who your main competition is and which parts of the market you are currently performing well in.

Decide on the right type of campaign

Finally, before you can launch any digital marketing campaign you must decide which type of campaign you wish to run. You can target people via email, social media or increase the profile of your website; you can even use pay per click advertising. In reality you may wish to use a mixture of all these techniques and others, if you do it is advisable to launch each one as a separate marketing campaign. This will help you to control the campaign and assess the results on an individual basis.

It is essential to have an online presence which is agile enough to adjust to sudden market changes and allows you to integrate with your customers; their trust is what will convince them to buy from you. Think outside the box, and focus your attention on crafting the smartest plan. Use digital marketing guidelines that fit with your business mantra, and find a way to set yourself apart from the crowd. The more unique and innovative your ideas are, the greatest chances you have to make yourself noticed.

This is a guest article by Denny Averill & Romax.co.uk

|In: Digital|Last Updated: | 0 Comments

Mphasis & Knowledge@Wharton – the online research and business analysis journal of the Wharton School, University of Pennsylvania, have partnered to discover Executive Strategies for Personal Digital Transformation. Digital Revolution, demands a new way of thinking.

The seismic shift in technology that began to shake the business world over two decades ago, will not just upturn it but will do it in compressed time frame. Corporate leaders today can suffer from a sense of digital disorientation because of all the noise in the market about technology and innovation. The condition is especially acute for CEO’s trained in the analog world who must now, steer the ship in uncharted digital waters.

The journey of discovering Executive Strategies for Personal Digital Transformation is through a collaborative series of C-suit practitioner interactions. One such forum is being hosted on November 2nd, 2015 at The Penn Club in New York City. The event titled ‘Fast Forward: Executive Strategies for Personal Digital Transformation’ brings together top executives from major brands to share first-hand experiences of digital transformation, ideal digital transformation methods and insights on digital technologies.

Mphasis_logo

The line between digital technology and businesses blurring, every business now faces the challenge of sharpening its competitive edge by making use of digital products and services. As forward-looking leaders, chief executives have the need for the digital transformation of their enterprise, people and prepare for a digital future.

Defining digital transformation

  • The personal transformative path to becoming a digital leader
  • A mind map for the forward-thinking C-Suite
  • Rethinking ROI, post-digital transformation
  • Incorporating collaboration around the customer into your digital transformation strategy

Sample list of speakers

For details, registration please refer the following link.

About Knowledge@Wharton
Knowledge@Wharton is the online business analysis journal of the Wharton School of the University of Pennsylvania. The site, which is free, captures relevant knowledge generated at Wharton and beyond by offering articles and videos based on research, conferences, speakers, books and interviews with faculty and other experts on global business topics. For more information, please refer knowledge.wharton.upenn.edu

[Image Credit* – Mphasis]