Technological advancements have disrupted the traditional methods of business operations. Now, artificial intelligence, IoT, robotics are being used to create advanced and more sophisticated machines that are safer and have higher production capacity. Similarly, the digitalization of various business aspects has started happening to reap the maximum benefits of digital technology. One of these aspects is product digitization.
Product Digitization Meaning
Product digitization means adding the digital capabilities to physical products so that product buyers can interact with the product and get information in digital format. It is achieved by putting scannable codes on the product or product packaging. Buyers can scan the code using their smartphones and access the product information on their phone screen. Product digitization converts physical products into digital gateways to convey the right marketing message at the right moment.
Benefits of product Digitization
Digitizing any aspect of business helps you to collect more and more of business data. Similarly, product digitization helps you to collect the data of all the stakeholders involved in the product’s journey. And data has become the foundation in taking any business to the path of success.
The increasing number of smartphone users and the capability of scanning the QR codes through the native camera in iOS and many Android phones, has made QR codes very popular.
From making payments to checking into events, QR codes are being used everywhere, and millennials prefer to scan these codes to do things faster and error-free. This popularity of QR codes makes placing QR codes on product items, a very efficient and economical way of product digitization.
Following are the key benefits of product digitization:
- Generate Trust in Consumer’s mind with Product Journey and Story – Brands can show product journey and story on the scan of product code; this helps in increasing customer’s trust in the brand.
- Convey dynamic information to your users – Product digitization presents an opportunity to show dynamic content to the users without the need for change in the product codes. For example, Brands can display information in regional languages based on the scan location. Brands can also showcase new/related products on the product information page.
- Collect and access product interaction information in realtime – With the help of product digitization, brands can collect user data in realtime, and this data can contribute to making crucial business decisions. Product digitization also enables products to participate in marketing automation.
- Protect your brand against counterfeiting – Product digitization can protect your products fro counterfeiting if the product codes are clone-proof.
- Enhance your supply chain visibility and prevent diversion – The same product codes can also help in supply chain management and preventing the diversion by flagging any anomalies in product code scan geo-location if the backend software platform is equipped with such capabilities.
- Customer engagement – Product digitization opens new channels to engage users. Product codes can be used to run loyalty programs and re-engage the users for repeat sales.
- Good for the environment – Another very important benefit is that product digitization helps brands to go greener by helping them to save paper on printed media.
What not to do in product digitization
Brands need to keep in mind that user experience is of utmost importance. Product digitization does not mean just putting a scannable QR code/NFC on your product. If a poorly maintained website opens or users see irrelevant information on product code scan, then product digitization can actually be damaging. So the brands need to be sure that their product digitization backend software is flexible and works smoothly.
Product digitization with NeuroTags
With the help of it’s AI-backed, foolproof dual-tag technology, NeuroTags is helping consumer brands to digitize their product items. To achieve this, NeuroTags provides algorithmically coupled codes to the brands. Brands need to apply these codes to their product items, in the form of either QR code or NFC.
NeuroTags provides a straightforward platform for brands to manage the content that they want to show on their product code scans. Brands can see the report of all the product scans and important data analytics in NeuroTags dashboards.
Capabilities of NeuroTags dual-tag technology
- Anti-Counterfeiting – Buyers can check the product authenticity before purchase resulting in increased trust in the brand.
- Integrated Loyalty Engine – Brands can offer loyalty rewards to product buyers when they scan the post-purchase tag. Loyalty programs increase customer retention.
- Digital warranty management – Buyers can register and claim the warranty by scanning the product code. This provides better user experience and better brand image.
- Supply chain management – NeuroTags dual tags also help in bringing supply chain visibility and protection of diversion.
- Marketing automation – NeuroTags AI-backed platform also helps in marketing automation by collecting customer data through post-purchase tag registration and reaching out to them with the right marketing message at the right time.
Consumer brands should start working towards product digitalization as it provides an effective path to win consumer trust and loyalty. Millennials are the majority of current and future consumers of products and innovation, and they are more approachable and influenced by digital than the traditional.
Please contact us to know more about NeuroTags offerings.