5 areas of focus to survive in a digital worldThe world is moving faster than ever before – are you in control of your business, or are you distracted? David Reiss, Propositions Manager, Spark Digital

Traditional businesses spend too much time looking internally.

I have strong childhood memories of family car trips where my poor father had to deal with distractions like bored and fighting kids, an over-heated engine and frequent map checks.

This constant attention inside the vehicle could have been very dangerous in an

emergency by limiting his ability to react.

Many businesses operate in a similar manner.

There’s lots of distracting noise that keeps their focus internal – not on what is happening outside.

Source: https://www.atlassian.com/time-wasting-at-work-infographic

80% 60%of interruptions are considered trivial.

or less of work time is spent productively.

Cars now have electronic entertainment to keep kids happy, turn-by-turn navigation and even real-time information about traffic conditions.

Technology has removed the noise to help the driver, making it easier and safer than ever before.

Businesses need to become digital too. Stop looking inwards and focus outside your organisation.

A digital business changes its approach in five key areas.

CUSTOMER EXPERIENCECustomers are moving from buying products

to buying experiences – and expect you to know what experience they need.

Source: McKinsey

CUSTOMER EXPERIENCE70% of buying experiences are now based on how the customer feels

they are being treated.

Passionate and loyal customers

Deliver the personalised experience that each customer demands before your

competitors do.

WORKING ENVIRONMENTAs our population ages, there’s an increasing skills shortage and risk

of intellectual property loss.

Source: Mortimer & Alpass

WORKING ENVIRONMENTThe labour force is shrinking.

By 2051, 1 in 4 New Zealanders will be 65 years and older.

Productive and happy staff

Implement digital working styles that give your team the flexibility to work any time or place to serve your customers better and

attract and retain the best people.

PERFORMANCE MANAGEMENTAnnual reporting only compares your business to past performance and current competitors.

Source: Ray Wang, Principal Analyst, Constellation Research

PERFORMANCE MANAGEMENTSince 2000, 52% of companies in the

Fortune 500 have either gone bankrupt, been acquired, ceased to exist or dropped

out of the Fortune 500.

Long-term high performance

Understand what the future holds and set up your business for that.

INNOVATION APPROACHCreativity is stifled by long, phased projects that run the risk you deliver something your

customers don’t want any more.

INNOVATION APPROACHAgile projects are three times more successful than non-agile projects.

Source: 2011 CHAOS report, Standish Group

Innovation valued by customers

Change to agile project management driven by customer needs and regularly

tested by them.

DIGITAL TECHNOLOGYThe business world is getting a digital makeover.

Challengers are digital from the outset and disrupt entire industries in an alarmingly short time.

DIGITAL TECHNOLOGYExecutives expect digital disruption will displace

40% of incumbent companies within the next five years. Yet only 25% describe their approach

to digital disruption as proactive.

Source: Digital Vortex: How Digital Disruption is Redefining Industries

Strong future in the digital world

Make technology the core of your business strategy to be relevant in the future.

The world is moving too fast to be safe if you are distracted by internal noise and frequent glances in the rear-view mirror.

Refocus your business to navigate your digital journey.

Now is the time to change your focus, embrace technology and enjoy the ride.

David Reiss, Propositions Manager, Spark Digital Follow David Reiss on LinkedIn for his regular posts on digital transformation, disruption and innovation.

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