The world is changing fast. Digital has opened up so many opportunities, but unfortunately with them comes a load of headaches. It’s exciting, and it’s daunting too. But It’s do or die. Transform, or risk getting left behind.
Chances are that most executives in your business know that change is needed. But actually getting ‘buy-in’ is another thing. Businesses need to build from the top down in terms of evolving a clear understanding and vision, so that ‘digital’ strategy and ‘business’ strategy become one and the same, and digital is woven through every facet of the business.
So let’s consider The Elevator Pitch. Your 30 seconds of vertical assent face time with the boss/chairman/president with indecipherable musical accompaniment.
Traditionally it’s a sales pitch, you’ve got an idea, you pitch to sell it; your vision of the future, your two-penneth (or two cents for my American cousins) and this defines your point of view. Get it right and you will have a starting point to work from. Typically, it’s comprehensive and succinct and will either leave them hungry for more or making a mental note to take the stairs. So, you have 30 seconds. What you going to say to hit home and hard?
Working at DWC, I have many pitches and points of view (…depends on who I meet in the lift). They vary in detail and change from sector to sector, but they are all developed using some of the following startling market transformation data.
Just a few snippets:
- In the UK there is a 65% penetration of smartphones, estimated to rise to 90% by 2017
- Globally mobile payments will grow 60% to 29bn transactions and ecommerce will grow 20% to 35bn transactions by the end 2014
- With this rate of growth, mobile payments will eclipse credit card payments in 2 years and debit cards in 3 years!
This phenomenal digital transformation and change of behaviour is already felt in the market place. The rapid customer adoption of digital channels like mobile, online and social media and their 24/7 availability combined with the sheer volume of transactions/conversations and interactions mean companies have a tidal wave of data about customer wants, needs, behaviours and experiences.
New businesses can build processes, operations, organisations to leverage this digital revolution but what if you’re an established business that needs to transform? How do you adapt? To those businesses my pitch today is reversed. It becomes a question – how will you cope with the ‘Digital Revolution’? How will you transform?
Maybe the next time you’re in the lift and the boss comes in forget the pitch; give them the snippets above and they’ll definitely be hungry for more. And what may start as a statement of what is happening can be taken forward and used to create a real transformational vision for the future for your business.
Here at DWC we can help you not only understand what is happening – the opportunities and impacts – but also develop a clear idea of what you need to achieve and a road-map for effecting change. We don’t want to just talk about transformation; we roll up our sleeves and align the right people and teams, processes and operations to actually make it happen.
Latest posts by Richard Morecroft (see all)
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- Moving Your Business up the Digital Evolution Curve - July 25, 2017