In the past, business goals and KPIs set the direction to go for an enterprise.
Today the whole world seems to discuss about digital transformation in the one or the other way. First of all I want you to get clarity on your thoughts. Is it really disruptive or is it evolutional?
It disrupts you, if you miss to adapt, because you will be replaced by someone who knows better how to engage with your customers. Todays game is about adaptability, speed and customer experience.
In the tech industry SaaS changed more than the delivery model it transformed the sales funnel completely. It has never been faster and easier to adapt new solutions into your business environment, than today. It’s literally just a few clicks to start your new HR solution.
The need to buy additional hardware, train your IT people or even building up a new team for a specific solution is a thing of the past. SaaS gives you the possibility to start small, test new processes or solutions by minimizing your financial risk when it doesn’t fit your expectations. Therefore it all starts with education on what’s possible, what’s available and the future potential of a solution. That phase is typically supplier agnostic, as it is more about your market needs and the corresponding tech potential. As this phase requires quite some time, the actual decision for a supplier can be taken much quicker, because the risk of being wrong can be corrected with a much lower financial impact than in the past. That’s also the reason why the preferred way to go today is, start small and scale rapidly.
The big bang go lives of solutions with multi years of implementation efforts are not able to serve the demand of todays customers. Running multi year implementation projects just puts you on risk, that the market evolves faster than your solution. If you can’t serve your customers as well as your competitors you’ll be out of the game soon.
Let’s have a look at the marketing industry. In a very interesting post from Simon Chan – The Global Marketing Crisis of 2017. He points out that marketing is going trough a massive change and not everyone will get it right. Not surprisingly he brings it all back to the need of a new engagement model.
Todays technology provides us with new optimization potential and the chance to rethink business processes or even business models. Most often it’s still a very tech savvy discussion and the opportunities about a stronger customer centricity and a more human touch are missed.
That hasn’t just started, but it reached a tipping point as today more and more people are using social media and social influencers seem to become a new species eating the marketing market. Check out this post from Brian Solis
and get some more insides. I also recommend to read this post from Aaron Orendorff to get even more insides.
Now companies talk about digital strategies and if you want to be in the game you need to have one. As the content often makes sense and seems to be logical it often comes back to new technologies, how to implement them and the new service or product offering. In some really rar cases it’s about a business model that will be created to safeguard the market position or increase market share.
Now it comes to executing the strategy. That’s easy! Right? You have done it multiple times in the past. Your organization, your people know how to execute a strategy. You define the right parameters and KPIs, put a proper controlling in place, define and priorities the actions to reach the KPIs and voila, you’re done! Undisputed market leader!
I’m convinced, doing it that way, you ‚ll risk to loose it all. It’s not just the game that changed, the rules changed as well. It’s no more about setting the budget, giving the direction and go.
It’s about identifying your target group first, it’s about engaging with them via the new social channels, collaboratively discovering the new, the most valuable, the next big topic. It’s about identifying a common relevance and a proper understanding of the others strength. Building trust and gain a common understanding how to play to each others strength. It’s about long lasting relationships, build on a common understanding of the opportunities provided by new technologies and a joint plan to go side by side and get the most out of it and thereby reaching the business goals. It’s about survival in the first place and about sustainable growth in the mid and long run.