We are Digital: The Future is Now

Automatic Summary

The Future of Business—We are Digital

Uzo Maba, a business strategist from Techno recently offered an enlightening keynote at the Women in Tech mobile conference. His interactive session centered on the idea that "We are digital. The future is now".

Digital Transformation and Neuromarketing: The Future of Business

In his talk, Maba stressed that the business landscape had significantly changed, and companies needed to adapt by embracing digital transformation. Considering the uprise of COVID-19, this transformation was not merely a choice but a necessity for business continuity, resilience, and growth. He further underlined two subjects - digital transformation and neuromarketing.

Digital Transformation: Keeping Businesses Thriving

Digital transformation is the integration of digital technologies into all areas of a business. Maba clarified that the overall aim is a radical change in how businesses operate and deliver value to their customers.

Key Elements in Digital Transformation

  • Artificial Intelligence & Machine Learning: This technology is increasingly used by various sectors, particularly banking, for fraud prevention.
  • Building Digital Partnerships: Collaboration with start-ups aids in meeting customer expectations, reaching broader markets, and creating a better world.

Digital initiatives play a critical role in advancing organizations, supporting growth, maintaining the competitive edge, and keeping stakeholders engaged. However, these initiatives need a solid security plan to prevent potentially crippling cyber threats.

Linking Business Success to Key Performance Indicators (KPIs)

Maba shared the importance of metrics in determining the success of digital transformation. These metrics included KPIs, which are measurements used to gauge business success, revenue lifetime, and customer value.

Six Elements for Organizational Transformation

  • Analysis: Interpreting and communicating patterns in data.
  • Customer Experience: The customer's perception related to a brand.
  • Employee Well-being: Treating employees right to enhance productivity.
  • Technology & Integration: Incorporating technology resources and practices into a business.
  • Governance & Leadership: Ensuring strategic policies leading to regulation and accountability.
  • Digital Literacy: Employees should be capable of understanding complex technologies to apply them efficiently.

Neuromarketing: Selling to the Mind

Maba touched on neuromarketing, which combines neuroscience and marketing. This involves tracking customer reactions through brain imaging technology, gleaning insights on how customers make decisions and how businesses can use these insights for product development and marketing.

Applying Neuromarketing to Business

Neuromarketing utilizes the five senses: sight, hearing, touch, taste, and scent. It also works with colors—fast food chains typically use orange because it stimulates hunger. This science also extends to the smells associated with certain businesses, which evoke specific associations. In the end, neuromarketing techniques aim to convince potential buyers to purchase your product.

Neuromarketing Use Cases

  • Ad Testing
  • Optimizing Design
  • Including Packaging
  • Choosing the Perfect Color
  • Product Placement

Transforming Businesses towards a Digital Future

Clearly, as Uzo Maba demonstrated, businesses can harness the power of digital transformation and neuromarketing to realize their objectives and sustain in the evolving business landscape. It is these strategies that will define the future of business. Feel free to connect with Uzo Maba for detailed discussions on these fascinating topics.


Video Transcription

Good afternoon everybody. I am Uzo Maba and I am a business strategist from of Techno and welcome to the Women in Tech mobile conference. Ok. So um my talk is based on we are digital. The future is now we are digital. The future is now.So first of all, I am a business strategist with techno where I teach um I teach students skills on how to use um digital skills to, to solve problems in the society. So I I work on their business plan, their business speech videos and then there are apps that is being built with MIT at the V and Swift Basic. So welcome to this section. So uh previously COVID-19 has um made people a lot of businesses so and for businesses to grow and that they need to be digital, like to go through digital processes. So the two main topics I've been talking about today is on digital transformation and neuromarketing. So I'll be sharing my screen right now. OK. So I'm sharing my strength. OK. So we are digital. The future is now the next slide. So less light is on digital transformation. Digital Transformation can be defined as the use of digital technologies to transform businesses by changing corporate strategy, business processes, opening capabilities, rules and skills.

So um businesses that go through digital transformation, the the keyword game is on transformation multiple the digital aspects, the processes that businesses have to go through in order for them to be able to with stand. So in the second part, we have um keys and digital transformation, it is huge. Um use of artificial intelligence and machine learning. This process is being used by banks to stop and then building digital partnerships. Businesses need to collaborate with start a better world in order for them to meet customer expectation and assist customers expect for them to reach broad O DS and markets. And then the second slide is on building new digital partnerships using the digital person should have to do its customer from vs the innovation that the business have successfully placed in the market and how digital transformation can it be experience and then new digital transformation, success matrix and then long term value of initiatives.

So because digital initiatives is important in helping organizations to evolve by supporting revenue and profits, getting and sustaining competitive edge, keeping employees and customers engaged. And the digital initiative needs to have a rock solid security plan because that security plan can ruin your business and it negatively impact your plan as a business owner. So next slide, OK. These are the metrics for success of digital transformation. So the metrics for success of digital, we measure the return of investment by using the key performance indicators. And then, so what are key performance indicators? They are K as the measurements that you used to do if your business is succeeding and they are used to gouge a customer's amount and performance like revenue for clients, profit margin, clients, et cetera. And then we have the revenue lifetime. This helps a company to identify how much they are going to make from a customer based on the relationship they have with the customer. So the revenue lifetime can be calculated by multiplying the value of the customer to the business by the average lifespan. That is how long the customer is going to live on it if the customer is a young customer, old customer, and then we have the customer value.

Customer value is the value that a customer is bringing to the company, you know, the product on services which and it compared to it possible um alternatives as a business owner. So it determines whether the customers feel like they have received more value for the price that they paid if the price they are paid is what of your products, how much they are willing to pay if they are getting enough money from your products and from your service. And then in the next slide, you have um operation impact, operation impact is the impact um of the operations caused by accidents and disasters. As a business owner, you need to um use the uh accidents and the disasters that. So let's move on to the next slide. If you have any questions, you can type in the chat box and answer your questions next month. So here we have six key elements for organizational transformation. And then here we have analysis, analysis is the process of interpreting and communicating in patterns in data. Then we have customer experience, which is the the perception the experience the customer gets has a lot of related to your brand, to your company, to your products and your services. So the next point is people and press for an oppression is as a business owner. I see you need to put your employees first and treat them right because when you treat them right back the discount on paying the salaries of tess but and and other kinds of it enhances their productivity at work.

Team work makes the company and then we have technology and integration. This is as a business and I need to incorporate technology resources and technology based practices, ready returns of your business. Then we have uh governance and leadership. This ensures strategic policy which leads to regulation and accountability.

And then digital literacy. Your c just need to be able to understand the complex technology, complex technology has to be very simple and easy to understand even a layman. So now educated kind of standard. So next slide. So next slide here is neuromarketing. So as you can see, neuromarketing involves use of um uses with neuroscience and involves a brain imaging service, imaging scanner. A customer may show the art until it's been connected. So the brain is now being studied for activity areas that shows increased blood flow that is responding with positivity. The ad because as a business owner, as a CEO you are selling to the mine because people don't know what they want. So I need to convince and persuade people for them to buy your products, for them to relate to your car, for them to relate to your company. So n like care. OK. The next slide here, this is the areas of the brain activity for neuromarketing. So, neuromarketing has to do with the right use of brain imaging scanning to measure the subject, the customer's um response adverse to your marketing elements. So researchers, they learn how cus cus customers make decisions and what part of their brain is telling them to do it.

You're you're telling the brain to when a when a customer um views your uh the information goes to the brain. So the brain translates them and tells them whether they can be able to buy your product and or services. So, neuromarketing, you're telling the brain was because neuromarketing makes use of the five senses, five senses and the eyes, the ears, the skin, the toil, the nose and the brain and then the skin too. So it's also um also works with colors and sounds a kind of sound you use as your youtube as uh the colors that use. That's why fast food they use orange color. Um because orange is still this one. Then green color is used in agriculture for food because it shows agriculture, then black is used for wristwatches because it shows um luxury, black wood shows luxury and then they add yeah a plan because it relates to some. So for example, if you go to a seafood restaurant, restaurants to buy um seafood, the lemon grass is they use a lemon grass because it makes people refer to seafood and then dairy farms, they put the smell of grass because it makes people relate to dairy. And then also if you go to um and also shop to buy, they have the smell of polish leather which is to lose your brain and makes you to purchase.

And then when you're driving out from your office or from your going to you can you can see us a view that has like the beer that he's advertising for Kate. When you see your rental, you are, I would like to register. I would like to use the sc and it wasn't about those you guys that also use limited edition because they make people feel like uh they are one of the few people on earth that are buying photos. So they they they make their products limited edition Apple does that and then uh Ro Ro to then they make their products, people, they make the approach limited edition. So also use bonuses and discounts and then the great scarcity by making the option available and then make your websites copy simple. It does the uiux of your website to be very simple. Another company that uses a neuro marketing is mcdonald's. So before the mcdonald's do teach their ad, they run adverts, they, they run a class and then they brought a customer tested the customer um the areas of the world and activity before they launched the official levels. So they brought a different flavors and then they tested the area of the of the customer that I was showing different activity. Then, then they now they now choose a particular one that that shows more.

That's the one that the people are going are going for as a business owner that you need to, to study in the market. You need to use the marketing in your business, you know, confused by a select buyers to be able to purchase your products. Next slide. Ok. No. So neuromarketing is used in testing ads. It is used in optimizing design. It is used including packaging, it is used in choosing the perfect column and then it's used in product placement. So all these things are the advantages of neuromarketing next slide. So this is my profile link thing. You can go on to connect with me but I am a business strategist and I, I live in Nigeria so you can chat me up and if you have any questions, you can connect with me on my thank account. Yeah. Thank you very much.