Thought Leadership

How to Stay Ahead in the Age of Industry Convergence

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Is your business really growing? Are you ahead of the curve or just trying keep up with the competition? Well, according to the IBM annual C-suite study the boundaries of competition are blurring more than ever. Six out of ten CEOs list industry convergence as their primary concern, as new organizations such as Uber and Airbnb are disrupting the industry and winning over customers by offering new, better and more relevant customer experiences.

So what’s the solution? Studies show that the leading CEO’s of the industry convergence are focusing more on their customers than their competition. And they are reinventing their approach, based on the seven drivers of digital reinvention.

These are:

  1. Customer Experience. The seamless satisfaction of customers, at every company touch-point, with your brand.
  2. Business Models. Corporate leaders embed technology into their business model, including mobile, social, cognitive, and cloud as the foundation for building repeatable and predictable customer experiences.
  3. Market Activation. Monetizing customer relationships should be an outcome of great market planning and execution, as long as the focus remains on the customer.
  4. Orchestrated Ecosystems. Organizations can engage in valuable immersive experiences with their industry and their customers, by building strong foundation of technology-enabled partner networks.
  5. Restless Talent. Companies can excel in talent management and development by championing a culture of design thinking, agile work environments, and experimentation.
  6. Responsive Operations. Wouldn’t it be nice to penetrate new markets faster and accelerate sales revenue recognition? Leading companies have made situational awareness and digitization of their company offerings standard operational practice.
  7. Actionable Insight. Driving brand loyalty by anticipating customer needs and serving up personalized offers based on past behavior is standard practice for winning organizations.

Are exceptional customer experiences at the heart of your business strategy?  Do you need to relook at digital reinvention and how it can drive your company ahead? Does your Chief Marketing Officer know how to leverage digital reinvention in customer programs?  Is your Chief HR Officer using technology to find and recruit the best talent that can help you to execute your vision?  And does your Chief Information Officer have a technology roadmap to get the most out of your existing investment, while still innovating for future growth?

To learn more, visit www.ibm-sap.com/digital_reinvention. Or better yet, share this blog with your CMO, CHRO and CIO to start the conversation about digital reinvention.

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