Consumer businesses that wish to remain relevant to today's hyper-connected consumer need to consider what they need to do to adapt the way they organise and operate. Evolve, or be left behind.
Digital has the power to transform the way that consumer businesses operate. Many consumer businesses' digital capability exists only in pockets. To be truly digital, companies need to examine three perspectives across their business in order to drive digital excellence; going beyond just the consumer channel to a business, where digital technology is utilised across the entire enterprise.
In order to better understand the potential impact of digital technology, we examine it from three different perspectives:
|The Consumer – respond, serve, retain and excite customers who are connected, empowered, more informed, socially connected, time poor and faced with greater choice than ever.|
|The Colleague – enable, support and develop colleagues who are constantly connected, expected to do more with less, empowered to provide a personalised service and driven by incentives.|
|The Enterprise – structure your business to seize opportunities for growth, exploit digital platforms, redesign operating model, build new capabilities, capture and apply customer data to drive insight and personalisation.|
Digital is the responsibility of every member of the leadership team. It requires engagement, education underpinned by a clear strategic intent and driven by a shared understanding of the benefits and priorities across the business.
"Digital is accelerating, with new technologies coming thick and fast, some businesses are struggling to keep up with the pace of change."
When consumer businesses look at their digital journey, the five forces of digital disruption provide a framework for understanding digital and ways in which it is impacting their business today.