Companies succeeding in the digital era have done so because of their understanding of what it takes to build an organization in the digital age. Given we no longer sell products or services, the world of digital requires us to focus on experiences and outcomes. We move from selling products to keeping brand promises. As with past transformations, organizations must prepare to move ahead of these social, organizational, and technology shifts or be left behind as digital business disruption becomes a necessity.
Lesson 1 – Transform Business Models And Engagement
Lesson 2 – Keep The Brand Promise
Lesson 3 – Sell The Smallest Unit You Can
Lesson 4 – Know That Data Is The Foundation Of Digital Business
Lesson 5 – Build For Insight Streams
Lesson 6 – Win With Network Economies
Lesson 7 – Humanize Digital With Digital Artisans
Lesson 8 – Democratize Distribution With P2P Networks
Lesson 9 – Deliver Intention Driven, Mass Personalization At Scale
Lesson 10 – Segment by Digital Proficiency Not Age
The book analyzes the trends that business leaders must pay attention to and how they should react to them. Those trends when taken seriously require a new way of thinking about business.
We’re standing at the dawn of a digital business revolution. In fact, we barely realize it. As with the beginning of every revolution, those in the midst of it can feel it, sense it, and realize that something big is happening. Yet it’s hard to quantify the shift. The data isn’t clear. It’s hard to measure. Pace of change is accelerating. Old rules seem not to apply. You and I can’t seem to put structure around this.
Many of us have been here. But we can qualify the shift. We are articulating how these businesses are about to change. We’re doing it piecemeal, but a story is emerging. We have one-off stories about massive business model disruption. In fact, the impact of digital on our personal lives is an early indication. From how we interact with each other to how we engage with organizations, the shift is right in front of us. Our personal experiences foreshadow how businesses will be disrupted by this digital revolution.
In fact, 52% of the Fortune 500 have been merged, acquired, gone bankrupt, or fallen off the list since 2000. The impact of digital disruption is real. However, it’s not the technologies that drive this change. It’s a shift in how new business models are created. We’re moving at a massive scale from systems of transaction (record) to achieving mass personalization at scale (digital).
The secret to success in disrupting digital business will require organizations and individuals to know who they want to be, and live and breath it. Disrupting digital business requires leaders to be:
- Transformation focused: Incremental innovation is not enough. Organizations have to design for transformational innovation.
- Relevant: Context drives the ability to deliver mass personalization at scale.
- Authentic: Digital provides trust and radical transparency through massive data backbones and open access and support the brand promise.
- Intention driven: Best practices rules and processes aren’t enough, we have to predict what’s expected next.
- Networked: New P2P networked economies are guided by ephemeral self interest
Disrupting Digital Business In The Media
- 20150519 Engaging Brand – Anna Farmery “533 – Dominate Digital Disruption Before It Dominates You”
- 20150519 Enterprise Engagement Alliance – Bruce Bolger “‘Change or Else,’ Says Disrupting Digital Business Author R. Ray Wang”
- 20150515 The Small Business Advocate – Jim Blasingame “What does the P2P marketplace look like? “
- 20150515 The Small Business Advocate – Jim Blasingame “How digital companies are disrupting industries and markets “
- 20150514 Forbes – Martin Zwilling “Every Business Needs Force Multipliers To Survive”
- 20150513 Anne Janzer “Disrupting Digital Business: A Book Review and Marketing Perspective”
- 20150513 ServiceNow Community – Michael Dortch “Digital Business Transformation: First, Hearts and Minds, Then Speeds and Feeds”
- 20150513 HR Executive Online – Bill Kutik “Radio Show #179 R “Ray” Wang, CEO & Principal Analyst, Constellation Research”
- 20150511 Harvard Business Review – R “Ray” Wang “To Jump Start Growth Flip Your Priorities”
- 20150508 Vizier – Josie Sutcliffe “Q&A With Ray Wang: What Digital Transformation Means For HR”
- 20150508 Catalyze – Travis Good, M.D. “R “Ray” Wang, Founder and Chairman of Constellation Research”
- 20150506 CNBC – “Tesla Earnings, What Investors Are Watching”
- 20150505 Medium – “Embracing Transformation”
- 20150505 Forbes AdVoice – Kate Pavao “The Keys To Surviving Digital Disruption”
- 20150505 Advertising Age – Karen Edelman “Digital Darwinism and the Connected Devices Opportunity”
- 20150504 Dr Janice “Teaming Dynamics for Digital Transformation”
- 20150501 CRM Magazine – Maria Minkser “Required Reading: Disrupting Digital Business Requires Right- and Left-Brain Thinking“