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12/29/2020
By
MJV Team

Why is developing digital products one of the solutions to overcome the crisis?

A much more remote reality has never been closer to being standardized. The social distance imposed on all companies in the world has generated significant impacts on consumer behavior.

The officeless – now home office – is nothing new. Many organizations were already testing this type of distributed management. But still nothing on a large scale.

Therefore, this at-home life’s effects were not felt as a need to realign strategies and even rethink business models. 

But today, there is no way to postpone the innovation plans in the pipeline. Rethinking how to do your business is an urgent demand to be aligned with this new user behavior. 

For now, these consumption habits- almost 100% digital – are here to stay even after the lockdown and with a vaccine underway. 

But it is crucial to see this positively, and that is realizing all the opportunities that this has brought.

Until the vaccine is distributed, this is the new normal that we will have. A good question is: in the post-pandemic, will users give up this new, more digital universe and go back? 

We wouldn’t bet on that! What makes us believe that developing digital products is not only a solution to overcome the crisis, but also to generate business value after it too. 

To dive into the new patterns of consumer behavior and the changes these new times have brought to companies, we prepared this article. 

We are already leaving a spoiler: it is crucial to understand how to get value from innovation. 

Next stop: Digital transformation

Technology has only evolved – and very fast. From internet access to today, it has been responsible for a multitude of disruptions in business models. 

Who would have thought it would be possible to get a credit card without any contact with human service, not even sending the documentation?

In uncertain scenarios, it is just technology that can promote the disruptions necessary for businesses to gain competitive value and even create new markets. 

Today, remote management – the only way out of the health crisis we are experiencing – changes the game rules in all markets without exception. 

The solution to that, you already know, don’t you ?! 

Scan your business because the current economy is much more digital than before Covid-19 ravaged the world. 

Remember that Digital Transformation did not take anyone by surprise. Artificial intelligence. 5G. Blockchain. Automation. Industry 4.0. These themes were already present in a series of meetings, goals, and strategic plans.  

Here are some pain points that embrace the digital transformation.

Consumer behavior 

There are new consumer behavior patterns. The effects of the crisis only enhance these other needs and desires of the user. 

Remote Management 

The home office is here to stay. So, we must rethink the strategy so that products and services are delivered at home. 

Startup-up 

The Economy is Digital; companies are born small, lean, lighter, and more innovative. As they are smaller, they have more decentralized leaders, which provides a lot of efficiencies. Automation and Artificial Intelligence underpin management. The era of startups has changed the face of companies a lot, and this type of business model is nothing new. 

Cost reduction 

The pandemic effects have created a scenario of uncertainty – unemployment and economic weaknesses cannot be neglected. How to continue business in this context? 

It is necessary to propose alternatives for products and services. Increase points of contact with consumers. Achieve greater operational efficiency. Develop strategies to offer cheaper and yet quality products. It’s about lowering operating costs. Reach new markets. 

Innovation 

It is necessary to think about new solutions, but taking into account the business objectives. There is no room to innovate for innovating. Unfortunately, many projects die because of this. They are even born with potential, but they do not consider the nature of the business. 

The result, in these cases, is projects with very low-profit margins. The investment to support the new product is too high for the return. 

The innovation track ends up not generating value for the company.  

Understanding the user, diving into the real reason that makes them buy products and services, realigning the strategy, and delivering what he wants can be enhanced with Data Science projects. 

The next big thing

The famous race for the next big thing! The best of all worlds is that your company will be able to create a business model that can replace your own. 

You may be wondering how to create solutions for these pain points around digital transformation? 

We brought two fronts that are very relevant in the action plans of that moment – and they will continue to appear in the Strategic Plans of 2021. 

Bonus 1: UX

Who still doubts that UX is the right solution to retain customers in a new reality that is almost 100% digital? 

We always hear that the world is digital, that the digital transformation is here to stay, that there is no way to move your business’s digitization process forward. That creating digital solutions is part of the nature of the era – of hyperconnectivity – that we live in. 

Today, a digital application is no longer a brand-building action. 

It is an essential point of contact with the user, a generator of revenue – a growing share. 

In times of digital solutions, design gains status as a great ally to bring differentiation to acquiring and retaining the customer. What does that mean? There is a huge need for enchanting experiences!

Usability. Quick troubleshooting. Facilities. That’s what all startups will strive to offer. 

Usability empowers the customer to solve their problems in a few clicks and have their wishes fulfilled. This keeps satisfaction always active. 

Don’t forget: 

Design creates a link. Yes, every customer who already has the habit of using a specific application to solve their needs suffers from changing and adapting again to another experience – or better, another interface. 

Bonus 2: Agile Software Development 

Digital Development: Agile + DT + Software Development

The DT + Agile union is the pillar of our software development process. This combination allows for a more efficient operation and a final product more aligned to the market’s needs.

In a remote world, like the one we live in now, digital is a fundamental part. Regardless of our reality – remote or physical – DT + Agile to develop software is responsible for impressive results.

We plunged deeply into our entire process and redesigned it to run as well in remote management as it did before in offices.

How to operate: 

Squad: The squad is the team responsible for defining the strategic plans of the project you are working on. The team consists of specialists from MJV and company employees to combine complete business knowledge with the experience of working in other market segments.

Sprints: These are the cycles defined for the squads to produce and review what is being done, ensuring constant value deliveries.

There is no way not to prioritize Digital Transformation. It has never been more urgent and so necessary. 

Realign your strategy to a more humanized, genuinely connected with your customers and employees, agile and fully digital. 

We can help you on this journey towards digitalization. Want to talk about your challenges? Get in touch with our experts.

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