<p> In today’s fast-paced digital world, staying ahead of the competition is vital. Since the barrier to entry in the digital world is thin - guess everyone can create their own digital product now.</p><p> In many startup companies, they usually have a division whose task is to always check on trends and competitors. The purpose of course is to see the position of their company in the market.&nbsp;</p><h2> Understanding Competitive Benchmarking</h2><p> <strong>Competitive Benchmarking</strong> is a powerful tool that can help the company analyze and compare your business’s performance against industry leaders. With this, you can discover valuable insights that drive strategic decisions and innovation.</p><p> In a simple explanation, in competitive benchmarking you will compare services and features that other competitors offer to their customer. You will find any feature/service gap between your company and other competitors.</p><figure class="table"> <table> <tbody> <tr> <th> Factor </th> <th> Your Company </th> <th> Competitor A </th> <th> Competitor B </th> </tr> <tr> <td> Customer’s Registration </td> <td> Need to come to our branch office to register. </td> <td> Can simply open their website and click register. </td> <td> Can register from their website and app. </td> </tr> <tr> <td> Service Offers </td> <td> Many investment product options, starting from Mutual Fund, Stocks, Gold, and Crypto. </td> <td> Only Stocks. </td> <td> Mutual Fund and Gold. </td> </tr> <tr> <td> Service Offers </td> <td> <i>Input here</i> </td> <td> <i>Input here</i> </td> <td> <i>Input here</i> </td> </tr> <tr> <td> Other Key Factor </td> <td> <i>Input here</i> </td> <td> <i>Input here</i> </td> <td> <i>Input here</i> </td> </tr> </tbody> </table></figure><p> Always keep in mind, not all feature/service gaps need to be in your company, you need to always check your company focus first.</p><h3> Benefits of Competitive Benchmarking</h3><ol> <li> <strong>Identify Strength &amp; Weakness</strong><br> It provides a clear comparison that shows the best option/solution offered from each key factor.&nbsp;<br> For example from the table above: <ol> <li> In factor ‘Customer’s Registration’, your company may lack the flexibility for users to do a registration. While other competitors already provide digital solutions to register an account.&nbsp; </li> <li> But from the second factor ‘Product Offers’, your company provides larger investment product options than other competitors. </li> </ol> </li> <li> <strong>Identify Market Opportunities</strong><br> This allows you to see any opportunities that your competitor may already overlook. You can spot the gaps and assess these untapped opportunities. </li> <li> <strong>Continuous Improvement</strong><br> Seeing all the gaps may make you feel panic and left out. Keep in mind to always encourage a mindset of ongoing enhancement within your business by regularly assessing performance against competitors. </li> <li> <strong>Enhance Customer Experience</strong><br> Competitive benchmarking will allow you to hear what users’ wants and needs that might be not provided in your company, but provided in other competitors. With this, you can start to enhance your customer’s experience, leading to higher satisfaction and loyalty. </li> <li> <strong>Mitigate Risks</strong><br> Understand any possible risks in your industry that competitors face and how they face them. This will allow you to develop strategies to mitigate any potential similar risks in your company. </li></ol><h3> Conclusion</h3><p> Competitive benchmarking is a powerful tool that will allow you to enhance your business by understanding how you measure up against competitors. By doing this, you can always identify your business strength &amp; weakness, identify market opportunities, do continuous improvement, enhance customer experience, and mitigate any industry risks in your business.</p><p> At Codemony, we offer comprehensive competitive benchmarking services to help you stay ahead in your industry. Contact us today to learn how we can collaborate.</p><div class="flex justify-center"><a class="max-w-screen-sm inline-block focus:ring-2 focus:outline-none w-full bg-purple-500 hover:bg-purple-600 focus:ring-purple-300 text-white rounded-full px-5 py-3 text-base text-center mb-8" href="https://wa.me/6282121217204">Contact Us</a></div>

In today's fast-paced digital world, staying ahead of the competition is vital. Since the barrier to entry in the digital world is thin - guess everyone can create their own digital product now.

Stay Ahead of The Competition: The Importance of Competitive Benchmarking


    <p> In this fast-paced digital age, user experience (UX) has played a big role in determining the company's success. UX is a combination of all aspects of a user’s interaction with the product. It includes its design and function. Those combinations will drive user’s satisfaction and this will lead to company success – which is why it is important.</p><h2> What is User Experience (UX)?</h2><p> Have you ever compared your experience while using two different apps that offer the same function?</p><p> Before understanding the User Experience, let’s think and take a look at the example below.</p><p> ***</p><p> <strong>Timmy is a person who loves to do online shopping.</strong></p><p> He installed two different e-commerce apps on his smartphone, let’s call it App A and App B. Both App A and B offer the same function – for you to buy something online. Their product range comes from groceries, clothes, to an expansive handphone. They basically offer the same product.</p><p> But, Timmy loves to shop on App B more. The reason is that on App B, Timmy finds experiences that he doesn’t find on App A. On App B, He can compare the same product with the lowest price, it helps him to save more money. There is also an Official Trusted Shop on App B, that makes him feel more safe knowing the products he’s buying are original and not fake.</p><p> Timmy becomes a loyal shopper on App B and it directs revenue to Company B.&nbsp;</p><p> ***</p><p> From Timmy's example, User Experience (UX) is important to make users choose your business instead of your competitor.</p><p> User Experience (UX) is how your users interact with your product – could be tangible or intangible products. It focuses on creating a product that provides a good and relevant experience to the users and helps them solve their problem better.</p><p> It is not just about visual design, but it includes the overall feel when users use our product – the ease of use and efficiency.</p><h2> The Benefit of Enhancing User Experience (UX)</h2><p> User Experience will not only bring benefits to your business, but also to your users. It is important to balance between giving benefits to your business and to your users.</p><p> The key is: You have to make your users happy without sacrificing your business.</p><p> Here is the benefits:</p><ol> <li> <strong>Increase User Satisfaction → User Loyalty</strong><br> Good user experience will help users to achieve their goal easily without much hassle. If your business can provide a good user experience, your users will be satisfied and become loyal users.<br> This also could lead to mouth-to-mouth marketing – they will promote your business to others and bring you more potential users. </li> <li> <strong>Increase Revenue</strong><br> More loyal users means they will enjoy using your app and spend money on it as long as it can solve their problems or help them achieve their goals. This will lead to an increase in revenue. When these loyal users bring new potential users from their mouth-to-mouth, it brings more potential revenue to the business also. </li> <li> <strong>Reduce Cost and Time</strong><br> By enhancing your business’s user experience as soon as possible, meaning you saves more time and effort. Because by implementing it sooner, you can identify any potential issues that users felt when they access your app. If you are late, your users might already move and become a loyal user in your competitor. </li></ol><h2> How to Start Improving User Experience (UX)?</h2><p> It is never too late to start doing an improvement. The sooner it is the better. To start this, you have to understand your target users or target market.</p><ol> <li> <strong>Understand Your Target Users</strong><br> There are many people out there with different needs. You can not satisfy everyone. Choosing your Target Users play a big role before understanding them.<br> If you are an e-commerce company, what do you want your target users to be? A tech-savvy? A stay-at-home mom? A teenager? An adult? You have to choose your target first.<br> After choosing your target users, you can conduct a user research through user interviews or surveys to understand their needs, wants, and problems. </li> <li> <strong>UX Design Process</strong><br> After knowing all your user’s target needs, wants, and problems, you have to create a product expectation or product requirement. What improvement you want to achieve to make your target users happier when using your app.<br> This is a collaboration with the Design Team to translate the requirement into a visual Proposal to be tested to your users. </li> <li> <strong>Test Your Proposal</strong><br> From point 2, you have created the proposal in a prototype (visual). You need to test your proposal to your users first, to gather earlier feedback from them. After gathering the feedback, you can iterate and choose which feedback that you want to implement. </li> <li> <strong>Implementation</strong><br> You created your enhancement proposal at this point. Now, you have to implement it with your team. Check the time and resources needed for this improvement. </li> <li> <strong>Continuous Improvement</strong><br> Enhancing UX is a long journey and it is not ending with one time product launch. Always check any feedback coming from users, analyze data, and discuss many additional improvements to iterate your products. </li></ol><h3> Conclusion</h3><p> It is never too late to enhance your business’s user experience because it is a long journey – the sooner to implement is the better. Enhancing your business’s UX will helps you stay competitive in the market by maintaining your loyal users while also hoping they bring more potential users to you.</p><p> Codemony will help you enhance your business's UX by offering a comprehensive full package of enhancement. Contact us today to learn how we can collaborate.<br> &nbsp;</p><div class="flex justify-center"><a class="max-w-screen-sm inline-block focus:ring-2 focus:outline-none w-full bg-purple-500 hover:bg-purple-600 focus:ring-purple-300 text-white rounded-full px-5 py-3 text-base text-center mb-8" href="https://wa.me/6282121217204">Contact Us</a></div>
    

Now, almost every company uses a software product to enhance its business. But does it already consider the user experience (UX) when the users are using it?

Enhance Your Business with Improvement in User Experience (UX)


      <p> This article will help you understand the concept of digital transformation and its benefits in your business.</p><h2> Digital Transformation</h2><p> Digital transformation is when all areas of your business, including how you operate and deliver value to customers, is integrating with digital technologies. It is a challenge to the business’s status quo and how you embrace the changes.</p><p> Almost all companies started to transform their business to be more digital. With those being said, <strong>digital transformation starts to become a necessity for the business to stay competitive</strong>. But it is not that easy, as it is a long-term effort for the company to continuously improve and change by deploying tech at scale.</p>
<figure class="image"> <img style="aspect-ratio:750/450;" src="https://storage.googleapis.com/codemony-public/assets/articles/disney-demo.png" width="750" height="450"> <figcaption class="text-center"> Image 1. <a target="_blank" rel="noopener noreferrer" href="https://brainhub.eu/library/digital-transformation-examples">Disney+ as the example of successful digital transformation</a> </figcaption></figure><p> Disney has created one successful product in their digital transformation journey, by creating Disney+ streaming platform. Disney used to sell their content on other streaming platforms such as Netflix. Now, Disney finally has their own streaming platform with millions of users that helps them generate more revenue and enhance efficiency in managing their contents.</p><h2> The Benefit of Digital Transformation</h2><p> Implementing digital transformation requires a big effort with a long journey, so, what is the benefit from implementing it?</p><ol> <li> <strong>Enhance Efficiency</strong><br> Digital transformation means a more automated process and workflow. Using advanced technologies, it can streamline operation, reduce any manual efforts, and increase team’s productivity. </li> <li> Improve Customer Experience<br> Nowadays, everyone has a smartphone and spends most of their time on it. Leveraging your business service in digital can enhance your customer satisfaction, because you can understand your customer better and offer them personalized experience. </li> <li> <strong>Cost Saving</strong><br> Automated process and workflow can improve efficiency that leads to a significant reduction in cost from various business operations. </li> <li> <strong>Data-driven Decision Making</strong><br> Digital transformation enables you to get more data to be analyzed. It can help the company to provide more valuable insights to inform strategic decisions. </li> <li> <strong>Increase Agility</strong><br> Digital transformation will make your business more agile and it allows you to respond quickly to any market changes that happen. Stay updated to the market competition by always being agile and improving your business solutions. </li></ol><h3> Conclusion</h3><p> Digital transformation is no longer an option for the company to stay competitive–it is a necessity. This transformation requires lots of efforts and changes in the business status quo, allowing them to continuously improve their business solution using technologies. By embracing digital transformation, your business can enhance efficiency, improve customer experience, reduce cost, make data-driven decisions, and increase agility. At Codemony, we can help you transform your business to be more digital to stay competitive in the market.</p><p> Contact us today to learn how we can collaborate.<br> &nbsp;</p><div class="flex justify-center"><a class="max-w-screen-sm inline-block focus:ring-2 focus:outline-none w-full bg-purple-500 hover:bg-purple-600 focus:ring-purple-300 text-white rounded-full px-5 py-3 text-base text-center mb-8" href="https://wa.me/6282121217204">Contact Us</a></div>
    

Nowadays, many companies are doing digital transformation in their business to stay competitive. It is not an easy journey to start, as the company, employee, and the customers have to be able to adapt in this new flow.

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