Why is it High Time to go Digital in Bangladesh?

Post By

Tasnima Islam

Category

Digital Marketing

Date

14 Jan 2021

Digital transformation is one of the top priorities in the current globe as well as in Bangladesh. With the blessing of the internet, today’s world has become easily accessible and connected nationwide. In this day and age, nothing is viable until and unless it is on the internet. People from all walks of life have sensed that the digital world is continuously evolving. Therefore, the significance of technology, virtual website, social media, and smart devices is unavoidable for a flourishing future. 

With the advancement, the behavior of modern age consumers has also changed. People nowadays prefer to save time by actively connecting with brands online. Besides, they use various channels and tools to conduct virtual research before making any purchase. Therefore, if you are not yet online and digital, you are losing out on many possibilities.

Digitalisation in Bangladesh

Digitalisation in Bangladesh

Bangladesh has witnessed dramatic growth in all spheres in the last decade, starting from individual to economic and social. Therefore, internet connectivity, mobile technology, social media, web presence, digital marketing, and content creation have become mandatory for individuals and businesses to cope with digitalization. Here some of the statistics are presented to emphasize the modernization phase that Bangladesh has gone through for the last couple of years:

- 47.61 million internet users in January 2021 (DATAREPORTAL)

- 165.8 million mobile connections in January 2021 (DATAREPORTAL)

- 45.00 million social media users in January 2021 (DATAREPORTAL

- More than 700 eCommerce sites in Bangladesh (PRIVACY SHIELD FRAMEWORK)

- Above 8,000 eCommerce pages on Facebook (PRIVACY SHIELD FRAMEWORK)

- Over 1,500 software and IT-related companies have registered in Bangladesh (BASIS)

Concisely, along with these advancements, no one can avoid the importance of going digital. Therefore, the number of online entrepreneurs is rising dramatically.  

Here, in accordance with data collected from e-CAB (2020), the number of e-commerce entrepreneurs in Bangladesh are shown below:

- Website-based entrepreneurs 2,000

- Facebook-centric entrepreneurs 50,000

- e-CAB members 1,300

Importance of Going Digital for Businesses

Importance of Going Digital for Businesses

One of the common natures of modern age consumers is they are impatient, they are hungry for knowledge, and with only one click, they want it. Consequently, if a customer looks and does not find your company on Google, odds are he may opt for another one. Therefore, an online presence of your business can save time, energy, and money with numerous benefits that are explained below:

Customer engagement with credibility

Digital business can help you engage more customers by serving 24/7. For example, you can add a real-time chat option where your audience can ask about every query anytime rather than making a phone call within specific business hours. Again, as stated, mobile and internet users in Bangladesh are huge, which means some people can see when business owners post about their businesses. They cannot only see the brands, but they can also connect at all times only with a click. This opportunity is a blessing both for buyers and sellers. 

55% of people will search online for reviews and recommendations before making a purchase, with 47% visiting the company website

Source: KPMG

Around half of the population prefer online presence and make purchase decisions based on information online. On the one hand, businesses can instantly offer their services or products, while on the other hand, customers can get immediate offerings and leave their feedback right away. It also helps to build trust among consumers as well as increase customer loyalty. Therefore, the importance of a website is undeniable to involve more customers.

Brand awareness

Business owners can implement various digital marketing channels and tools to enhance brand consciousness targeting diverse customer groups. In this era of competition, if a business does not have a website, it already lacks serving customers than online competitors. A physical store is only open for specific hours every day and cannot run attractive marketing campaigns. 

82% of people want an “immediate” response to their marketing or sales question

Source: wpforms

Therefore, the majority of customers expect faster replies from digital platforms rather than visiting a physical shop. It also focuses on the importance of investing in digital marketing services. Thus, it will help the business to grow with word of mouth and build brand recognition. Again, with the help of a digital marketing agency in Bangladesh, online companies can carry out marketing campaigns focusing on apps and social media where the audiences usually remain active most of the time. Digital marketing in Bangladesh, including PPC, social media marketing, SEO, content marketing, and other digital strategies, have become popular methods to increase brand awareness and win the competition. 

Increases efficiency

In the 21st century, it has become almost mandatory for every business to adapt to modern technologies and implement those in digital business platforms to save time and effort. 

According to a report ‘Walking the digital tightrope’ conducted by Fujitsu, productivity goes up by 39% for those companies who have adopted digitalization. Going digital escalates better communication and collaboration between business teams and consumers, including those residing remotely. Digitalization also offers simple ways to track and analyse performance intensely so that businesses can remove barriers and optimize resources effectively which allows business owners to focus on core business objectives. 

Cost-effective

As digitalization helps improve proficiency, it eventually helps reduce overall cost. Going digital by incorporating modern website trends is the ultimate way to control unnecessary expenses. Otherwise, creating brand recognition and searching clients for it requires a high cost. Here, digital marketing tools make it easier to save advertisement expenses by targeting a particular consumer group rather than investing in all customers. For example, posting an advertisement in a national newspaper is less effective than posting on social media and reaching unlimited potential customers, even across the national boundary. This is also the reason why companies nowadays opt for digital marketing agencies in Bangladesh. Mainly, these agencies help them to choose the right digital marketing service through a cost-benefit approach. Also, digitalization offers constant evolution of performance which is the key to increase ROI and save costs. 

Apart from these, there are unlimited reasons to go digitalization over traditional methods, and a few of them are listed below:

- Improve customer experience

- Open new market possibilities

- Remain competitive

- Decrease errors and mistakes

- Enhanced data collection

- Better decision-making

- Encourage innovation

Therefore, companies ought to be concerned about creating a result-driven website and using digital marketing services at the right time for the optimum result.

When is the Right Time?

It is always the right time to be digital. As it is stated that Bangladesh has come across a long way in digital transformation, it is the right time for all businesses to utilize the opportunity to grow their business. For instance, if you can be one step forward to grab modernized channels and tools to enhance your web presence than your competitors, you would enjoy the competitive advantage. However, you must remember that digitalization is a constant journey. Once running an online platform, you must constantly evaluate performance and enhance the offerings with modern trends. 

It’s estimated that by the year 2040, 95% of purchases will be through eCommerce.

Source: NASDAQ

As everything is evolving, within one or two decades, nothing will be left getting digitalized. Among all, the eCommerce sector will face a massive transformation, as reported by scholars. It is already booming during this Coronavirus pandemic. In fact, every business with various objectives had to reshape its business strategies in the last two years as Covid-19 required everything online to maintain social distance. Even 75% of individuals using digital channels for the first time demonstrated that they would continue to use them when things return to “normal,” as reported by CloudSense.

What Are You Missing Out?

These days, among all registered companies, few of the digital marketing agencies in Bangladesh have started offering tailored technological solutions to businesses who want to grab the latest digitalization trend. Therefore, business operators can avail of this offer by contacting an experienced digital marketing agency to show the path towards triumph. In this modern age, if any business has not digitalized yet, it would fall behind in the market. 

71% of people believe they’ll get a better deal online, even if the item isn’t technically on sale.

Source: wpforms

So, if you do not have any digital existence of your business, you are not effectively reaching out to all the consumers as they will prefer buying online. Alongside, there are various drawbacks if you lack the digitalization of your business.

- As we know that automated business process is one of the top priorities for business efficiency; without digitalization, automation cannot be possible. Therefore, the whole business process would slow down because manual steps usually take longer than automated processes.

- If any business refuses to get updated, it will miss out on providing an outstanding user experience, generating higher sales, and therefore, lose overall market share.

Few Tips Before Going Digital

important tips before going digital

An open mindset to go with trends

The mentality of hunger for change must be present in every one of the organizations. Often businesses create a website but they do not update it routinely. Consequently, many websites need to get redesigned which eventually takes more time, effort, and money. Therefore, business operators should always embrace newness.

Adapt to the customers’ demand

If companies do not care for their customers, soon they will stop caring about the brands. To illustrate, customers always search for immediate service. Besides, it is important to select the right channel to increase traffic. For example, according to Martech, the majority of people get irritated when any random advertisement pops us and intercepts their work. Here, businesses can choose another digital marketing service like a social media campaign where most of the consumers are active. 

Think out of the box

Digital presence has already become popular and within the next few years, most of the businesses in Bangladesh will fully run their business online. Therefore, to beat the competition, you need to be a frontrunner in your sector. Otherwise, it will also be tough to enjoy a competitive advantage even after running a business digitally. Here, digital marketing agencies in Bangladesh are working day and night to offer unique strategies to every business. 

Role of Digital Marketing Agency in Bangladesh

Digitalization is a constant process, business owners should appoint an expert team to manage their online presence routinely and update it with modern trends. Therefore, a professional digital marketing agency in Bangladesh, like Dcastalia, with over a decade of experience in providing technological solutions to national and international clients, can help with the development of a modern digital presence or redesign them. Besides,  Dcastalia has partnered up with numerous leading companies in Bangladesh including United Hospital, Airtel Bangladesh, Shanta Holdings, Eduko Bangladesh, and many more. These prominent businesses have taken diverse services including design solutions, software development, content creation, business solutions, digital marketing, maintenance, and support. You can have a virtual tour of Dcastalia’s case studies and get a detailed idea of their expertise and knowledge. 

Frequently Asked Questions (FAQs)

Does digitalization matter for business success?

Digitalization truly matters for business success, especially in this era of modernization where everything is online and the majority of consumers prefer purchasing from digital platforms.

What are the drawbacks of digitalization?

Truly speaking, there is no drawback to digitalization. Nowadays, not going digital means being in the dark.

Is digitalization a must for every business?

Yes, it is mandatory for businesses that want to have a competitive advantage

How much does it cost to invest in digitalization?

The cost of digitalization varies on who is offering it and what is included in packages. To know more in detail, you can contact Dcastalia.

WORK WITH US

Got a project to discuss with us?

Explain your project