Get Inspired to Go Digital in the New Year
Is your organization in digital denial? The first step is recognizing it, and the next step is admitting the need to do something about it.
But don’t wait too long. Experts say that businesses that resist or even postpone digital transformation will face the consequences. In fact, research by the Global Center for Digital Business Transformation found that up to four out of today’s 10 top market incumbents will be displaced by digital disruption in the next five years. The same research also revealed that only 25 percent of the 900-plus companies surveyed described their approach to digital as proactive.
The simple truth is that no business can afford to rest idle. You have to acknowledge digital as a force, and be willing to disrupt your business model now in order to compete more effectively into the future.
Get Inspired and Get It Right
As the B2B world mirrors the dramatic shifts impacting the B2C world – from Amazon, to Uber, and more — it’s important to recognize that we’re now competing in an age of hyper connectivity. AI, blockchain, and IoT, to name a few of today’s most disruptive technologies, are providing new and exciting opportunities to better understand and digitally serve today’s connected customers.
As you map out your digital plans this year, experts from the Global Center for Digital Business Transformation offer these key points:
- Have the right goal: The goal of digital transformation shouldn’t be to become more disruptive. It should be to create value for customers in new ways, whether it’s cost value, experience value, or something else.
- Use the right approach: Don’t think about building a digital strategy: think about using digital to create a more agile strategy for your business – one that is based on more informed decision making, faster execution, and more.
- Focus on the right things: Don’t focus on how you can become more digital, but on how you can use digital to improve business performance.
Those businesses that succeed with digital go “all in” with their operating models. They embrace digital transformation in every corner of their business – across their offerings and go-to-market strategy; across customer, partner, and workforce engagement; within their processes and IT capabilities; and in their organizational structure, incentives, and culture.
In our industry, the business case for investing in digital is centered on delivering greater value to customers, and ultimately, to ensuring their success. But digital investments also drive more repeatable and predictable growth. As an example, our partners who have implemented Lifecycle Advantage as a digital tool for managing post-sale customer engagement have reported significant business improvements – including 20 percent increases in renewal close rates. For Cisco Gold Partner Red River, Lifecycle Advantage not only fuels renewal growth, but also drives higher levels of customer satisfaction.
Take the Digital Denial Quiz
If you’re still in denial and want to see how you and your organization rate from a digital transformation standpoint, take this quick quiz. The results will reveal your digital knowledge level compared to other partners.
I also encourage you to watch the on-demand webinar, “Is Your Organization in Digital Denial?” Featuring a top Cisco digital transformation expert and co-author of the book, “The Digital Vortex,” the webinar offers practical tips and takeaways for embracing digital, including first steps to begin the transition.
Now is the time to recognize that digital transformation is not a destination, but rather a journey – one that we look forward to taking with you. As you move ahead on that journey, be sure to make use of the many Cisco SuccessHub partner tools and resources that will help you on your way.