Why Does Everything Feel So Different So Suddenly?
If you’re wondering this, you’re not alone.
We’re in a confluence of technological advancement, a historic global event, and monumental shifts in consumer expectations.
Things that worked before, suddenly don’t. The uncertainties of the future are with us day-to-day. And everywhere you turn, you’re faced with disruption.
Welcome to the age of “digital transformation.”
What Really is Digital Transformation?
There are many definitions of “digital transformation”, but really it’s a handle. It’s a useful way to surmise a set of things that the market is experiencing – rather than being a defined process or concept.
We describe it as: “the adoption of new technologies and emergence of trends that drive growth and change.”
And like with any moment of great disruption, it can drive incredible revenue opportunities – if you’re prepared to transform parts of your business.
Disruption is The Fuel of Transformation
We’re living in a highly disruptive time – and its effects don’t happen in a vacuum. When things drastically change in any domain, there’s a flow on effect to others.
Take COVID-19 for example, a sudden change of market forces (global pandemic) led to a shift in consumer behavior (working from home) and the emergence of technologies that are now highly valued (Zoom).
Three Major Trends Are Driving Transformation in Consumer Value
We're amidst of a cascading set of disruptive trends. Each on its own is enough to make a business take pause, but three at once requires deep inquiry and an intentional path forward.
Create Value by Placing It Within Your Consumer’s Reach
Consumers used to go out of their way for products, services, and experiences. They would actively seek value. But now, they expect businesses to fit into their lives.
To do so, you need to start with your customer (outside your business), and then orient your organization around them (inside your business).
- Understand each customer’s journey
- Understand your role in that journey
- Create value along the way
Value and Trust is Now an Always-On Process
Consumer expectations that demand flexibility to serve their changing journeys, mean that value - and thus trust - needs to be built again and again. Together, they're part of a virtuous cycle for successful business outcomes.
Relevance is the New Currency of Value
Engaging experiences require a depth of data and a depth of content. With the right understanding, you can determine the next, most valuable step for a customer. It’s a move from broadcast to narrowcast.
Create Value by Placing It Within Your Consumer’s Reach
Soon, the world will start to look very different. Powered by technological innovation, consumers will interact with smart environments that are geared just for them.
Things like the metaverse might sound like science fiction, but it’s almost here. The businesses that can harness this technology will transform how they connect with customers and do commerce in the future.
- Extended Reality
- Augmented Reality
- Internet of Things
Adapting to Disruption Isn’t One Size Fits All
Not every organization needs to respond to the changes and challenges of today in the same way.
Depending on your goals and desire to shake things up, we recommend one of three approaches:
- Keep pace with the rest (incremental)
- Make what you're doing today available in new ways (substantial)
- Innovate entirely (transformative)
But There’s One Thing You Can’t Afford To Do!
Standing still is not an option. Disruption is here and we can guide you through it.
Email us today: hello@intevity.com