Three Crucial Steps To Overcome To Achieve Digital Success
My reflection on three digital transformation challenges from years of encounters with company executives.
I’ve had the privilege of advising and working closely with several of the worlds top consumer brands in their effort to achieve digital success.
By success in this context I am primarily referring to a company’s ability to understand digital as a culture, develop actionable strategies and getting bang for the buck
My reflection from years of encounters with company executives, in boardrooms and in management programmes, is that they all face and must overcome three crucial challenges in order to be equipped to utilize the true power of digital:
1. Inability To Focus On The Real Challenge
Digital is still utilized as a channel rather than mindset. Of course not by all, but by the majority of those I’ve met. Our creative ability to identify new business models and revenue streams that meet consumer wants and needs is heavily dependent on if we as individuals are technology focused or see technology as an enabler.
Digital management is a fundamental success factor for companies to stay competitive by working across silos. According to CapGemini, 27% of senior executives rate digital transformation as now being "a matter of survival”: Meanwhile marketers do not feel confident in their digital ability - In a survey conducted by Adobe only 48% say they feel highly proficient in digital marketing.
2. Not Walking The Talk
I really am a true believer that all people try to do their best at work, but unfortunately that’s still not enough to survive when competition is fierce. Brands often get caught in the race of mimicking competitors by doing what they do, only slightly better. This behavior becomes contra productive due to the fear of doing wrong, even though we often know that there are other things that needs to be done to fix what’s broken.
"You can talk all you want about having a clear purpose and strategy for your life, but ultimately this means nothing if you are not investing the resources you have in a way that is consistent with your strategy. In the end, a strategy is nothing but good intentions unless it’s effectively implemented.” - Clayton M. Christensen, How Will You Measure Your Life?
Commercial operations must be re-evaluated and realigned with higher objectives so that new supporting processes can emerge. Real change makers stick their nose out and gear up for the fight.
3. Waiting For The Answer To Come To You
A decade ago Intel, Dell, HP and Microsoft were the most powerful technology companies in the world. They all failed to predict one of the single biggest shifts - going wireless. Companies often miss to see what’s around the corner due to being to focused on investing in what is, instead of what could be.
Learning from history can helpful, but change takes time so most of the success will emerge from daily incremental steps. One thing I think we all should ask ourselves a little more often is “What action will I take today, that will make a difference tomorrow?"
Has your company made any incremental steps in transforming your business to meet digital? What worked out well and what has been your biggest challenge? Please share any thoughts in the comments below.
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