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I saw a LinkedIn post recently that stated “There is no ‘Digital Strategy’ anymore, just ‘Strategy’ in a digital world”. In other words, ‘digital’ and ‘business’ strategy have become one and the same.
Wise words. I recognise that the development of strategy AND getting a business to embrace digital technologies are both almost certainly sponsored from the top.
But not everyone is the boss, and likewise, not all bosses are digitally literate, so how do you get the conversation started? What should you say?
Let’s consider your Elevator Pitch. Your 30 seconds of vertical ascent face time with the boss/chairman/president, with indecipherable musical accompaniment.
Traditionally it’s a sales pitch; you’ve got an idea, you want to sell your vision of the future, give your two-penneth (or two cents for my American cousins). So, you have 30 seconds. You want things to change, what are you going to say to hit home and hard?
In my line of work, I prepare and deliver lots of pitches and points of view (it depends who I meet in the lift). They vary in detail and change from sector to sector, but they are all developed using market data – i.e. what is actually happening out there?
- UK – 82% penetration of smart-phones, rising to 90% by end 2017
- Globally – Mobile payments have grown 83% since 2013 to $431bn and will reach $721bn by 2017
This rapid customer behavioural change 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 and organisations to leverage this data and digital revolution, but what if you’re an established business that needs to transform?
According to a survey to all the Fortune 500 CEOs rapid technological change is the single greatest threat facing big business.
How do you adapt? How will you cope with this change in behaviour?
Maybe the next time you’re in the lift with the boss, give him the snippets above and ask him how the company strategy is changing for the new digital world.
And what may start as a simple chat can be taken forward and used to create a real transformational vision for the future of your business.
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