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Digital is revolutionising your industry.
It’s changing expectations of everyone involved – your staff, your regulators and, most significantly of all, your customers.
The only thing certain about this digital evolution is that it is not going away. It’s not even slowing down. Indeed the pace of change is accelerating.
Momentum is being built, platforms are being established and losers are already being eliminated from the marketplace.
It’s barely four full years since the first iPad was released, yet already many companies are reasonably expecting to manage their entire organisation on a handheld device.
The next generation of consumer will not be merely mobile-first, they will be truly mobile-only.
Earning the right to be relevant in this market requires a new mindset. A digital-first, dynamic approach where architecting for multiple possibilities is the default position.
Adapting to this new normal – shaping it with a truly customer centric approach is necessary not merely to capture available margins, but rather to capture any business at all.
Not making your business available and accessible for customers in this digital marketplace is corporate suicide.
There is a widening divergence between historically acceptable measures of corporate performance – both relative and absolute – and measures of success and customer engagement going forwards.
Supply constraint and currently restricted choice in your market should not be confused with customer satisfaction.
Apparently low rates of customer attrition and once-palatable levels of discernible market share can not and should not be relied upon as predictors of future performance.
Linear extrapolation of historic trends can not accommodate the imminent paradigm shift.
Motivated customers, digitally enabled, digitally liberated will play a greater role in determining your future success than ever before.
Adapt to their needs quickly and authentically.
Be prepared to challenge everything that made your business successful in times of modest, incremental change.
Discover new partners, recruit from different pools of talent, rip up your organisational charts and start over – with the customer at the heart of your business. Where they belong.