We were invited to a meeting last week by a prospective client to meet the CEO who had big plans to change the business.
Fantastic, that’s what we do, but his vision was to “think 360°”, “use big data to personalise engagements” and “employ omnichannel solutions” that would “build relationships and better engage with customers”.
The conversation went on to “investigating the Internet of Things” and “to integrate the business with mobile, social and real-time channels”.
The reality of life in business now is that change is omnipresent. The business in question had stood its ground as market leader and, until this point, had not felt the need to change or adapt as they were successful and felt they could dictate the market as they had always done. Realisation had dawned, they were losing market share quarter on quarter and had a lot of catching up to do.
The truth is that today technology’s effect on society is slowly but surely disrupting business models that cannot keep up with more connected, nimble and informed customers. Effectively, the evolution for business is a form of “digital Darwinism.”
It’s clear that business and society are changing and developing. The question is whether or not businesses of today choose to adapt or merely die a slow death by a thousand digital cuts.
Businesses that adapt to this onslaught of disruptive technologies are those that will be best placed to influence changing customer and employee behaviour. As technology becomes a permanent fixture in everyday life, organisations need to update legacy technology strategies and support new ways of working that better reflect how the real world is evolving.
From communication tools to customer insights and journey mapping to IT and training, having an inclusive culture and an approach that embraces change, businesses stay closer to their customers and create value throughout their lifecycle.
It’s not complicated, hard or confusing and certainly does not need to be confused with jargon and buzz words. It’s simply about being prepared to embrace and react to the change that’s around us day in, day out.