How to recognize a truly “digital” company

 

All discussions around “digital” and the trending role of a CDO don´t really elaborate on one point: what does it take to become digital? As posted earlier, a lot of emphasis seems to be put on Marketing. Plus, one must not forget that digital isn’t about simply being online, this is history. Companies need to use technology to solve customer problems better than others. I would like to focus on a couple of aspects in this post.

  1. SOCIAL: it is all about social. Social in the sense that it is all about human interactions making your digital products more relevant & efficient. This means dynamic (and not static) products. And, please, LISTEN to your users on social media. Listen to what they say, what they really care about, what they promote, what they ignore. Make sure, your mission has a credible purpose (yes, this is getting into the area of branding).
  2. (BIG) DATA: it is all about being able to compute large amount of data and to use it for more relevant & efficient experiences. Also this results in dynamic (and not static) products.
  3. OPEN: consider your destination website to go away latest in a couple of years. Users simply won’t go back to www.yourproduct.com. Think carefully about what really is your core asset and don’t try to market your destination site. Let users interact with your content, build dynamic and information that can be truly shared. But also let application developers build products based on your data. Build a “virtual product team”.
  4. MULTIPLE SCREENS: this is not about building your destination site for PC, laptop, tablet & smartphone. It is much more about 1.-3. Build experiences that are fluid and adapt. Product solutions are only up to date if they address a particular user problem. And, guess what: users are more and more getting the power of technology. They expect more and more and their behavior is changing rapidly.
  5. USER CENTRICITY: with all the potential of technology and design as described above you will go no where if don’t seriously change the way how you build your products. Focus on the problems of your customers that are worth to be solved. And then iteratively find a viable & scalable solution. Don´t fall into the “business trap” aka you believe you do understand the market by counting competitor´s features and calculation market shares. Take the extra product development mile. Either you do it now or later. But you will have to do it or you will die.  And: this is NOT a marketing task.

And please don’t make the mistake to believe that Facebook & Co. will go away. Yes, their usage is kind of declining in some markets. I remember a discussion with someone pretty senior in my previous company who literally said: “Jörg, don´t worry too much about social. Facebook is just a fashion. It will go away.” Even if Facebook went away, the points above won´t. Is your company really up to the digital challenge? As a CEO you have to care…

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