Last week, we discussed the rapidly approaching digital economy and outlined the nine new agenda items for CEOs. We also drilled down into the 3 CEO agenda items related to new customer requirements. In this blog, we’ll explore the three new capabilities needed to compete in the digital economy, the new critical infrastructure, and new ecosystems.
The digital economy has been eagerly anticipated for years, but felt to be in the distant future. As we look towards 2020, we can see the digital economy appear on the horizon. By 2023, products and services from digitally transformed enterprises will account for more than half of the global GDP, according to IDC’s research, signalling digital supremacy.
With the onset of digital supremacy just 3 years away, CEOs will quickly find themselves running a new type of organization. And with that new organization comes a new agenda.
Customer Experience (CX) will have a greater influence over future purchase decisions, say 93% of tech buyers. CX improvement must become a top initiative for CMOs or marketing will be the proverbial canary in the coal mine – the first to be blamed if the pipeline erodes due to customers’ poor experience. The CMO’s conundrum? Marketing can’t do this alone. To succeed, companies must integrate into an adaptable, team-based, organization focused on customer success.
Digital transformation has been changing the global business landscape in several ways, but one of the most important for organizations is rising customer expectations. The ability to create and deliver digitally-enhanced experiences as well as products and services will be a critical component of an organization’s success.