digital darwinism amba
TRANSCRIPT
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Digital Darwinism and Digital Dinosaurs
Dr Jim Hamillwww.energise2-0.com @DrJimHamillwww.linkedin.com/in/drjimhamill 10/06/15
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Digital Natives
By 2025, Digital Natives will account for 70% of the global workforce and they will be shooting dinosaurs
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Questions
If you have any questions, don’t bother asking because I don’t really care if you have any questions, what your opinion is or what you think. If you ask a question I will ignore
you
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Stop and Reflect Question
How many organisations treat their customers that way?
How ‘social’ is your organisation (externally and internally)?
Four out of five companies do not respond to customer comments on social channels
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Core Theme
We live in an era of Digital Disruption and Digital Darwinism
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Core Theme
A new breed of senior executive is required
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What do the following products and companies have in common?
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In Common?
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In Common?
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Digital Dinosaurs
All have become (or could become) Digital Dinosaurs due to their failure to adapt to Disruptive Technologies
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What Does HMV Stand For?
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(HMV) Hopelessly Misplaced Vision
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Rearranging Deck Chairs
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Who Will Be The Next Dinosaur?
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Who Will Be Next?
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MOOCs
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The Future of Education
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Spot the Dinosaur
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The Future of Higher Education
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‘Terminal Degrees’ – the Economist
‘If universities were to face the same conditions over the next 10 to 20 years that daily newspapers faced
over the last 10 to 20, then revenues would fall by more than half, employment in the industry would drop by
nearly 30% and more than 700 institutions would shut their doors.’ (Economist, 2014)
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Digital Darwinism
A further 70% on current list will fail within the
next decade
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So why now…..?
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Convergence of Disruptive Technologies
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Convergence of Disruptive Technologies
Social Media + Mobile + The Cloud + Big Data + Gen C
= The End of Business as Usual
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The Connected Customer
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The Connected Customer is also the Connected Employee
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Digital Natives (2005)
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The Connected Customer
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The Internet of Things
50bn connected devices/products by 2020
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Implications?
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No organisation too big to fail, nor too small to succeed
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Do we need to adapt or die?
Few industries are immune from the threat of digital disruption
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More Examples
• Tourism and hospitality – digital has revolutionised the customer journey – Dreaming, Planning, Booking, Experiencing, Sharing; also impact of the collaborative economy Airbnb
• Retailing - ‘showrooming’• Business Services – impact of Free Agent on bookkeeping/
accountancy profession; Hourly Nerd • Construction – Win Sun recently produced 10 basic houses in a
day, at an average cost of less than £3,000, using a giant 3D printer and “ink" made from recycled waste
• Agriculture – Field Scripts, a Big Data and predictive analytics development based on a database of 50 billion soil observations and 10 trillion weather-simulation points.
• Taxis – Uberfy or be Uberfied
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Hourly Nerd – founded by MBA graduates
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Will your industry/company be disrupted?
Deloitte Australia, ‘Short fuse, big bang’
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Will your industry be disrupted?
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Industry Disruption Potential
Short fuse, big bang: Industries with less than three years to adapt and transform themselves or face watching up to 50% of their business perish - finance, retail, professional services, arts and recreation, real estate and media, information and communication technology
Short fuse, small bang: Industries with a lot less to lose in the way of digital disruption, but there is still a limited window in which they can act to mitigate potential damage - construction, wholesale trade and the hospitality industry
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Industry Disruption Potential
Long fuse, big bang: Industries that will experience profound change, losing a lot if they don’t metamorphosis. Over time, we will see each area being delivered in fundamentally different ways - transport, government, education and health
Long fuse, small bang: The final category includes manufacturing and mining, which Deloitte says have the least potential for digital technologies
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Power shift and the declining effectiveness of traditional
approaches to sales and marketing
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Power Shift
Social media empowers customers, empowers the network
We no longer control the brand The brand becomes the customer
experience of the brand – experiences that are widely
shared online
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Customers in Control
• How relevant is the traditional ‘outbound’ approach to sales, marketing, PR and service in an era where the customer/buyer is in control?
• Do we need to move to a new ‘inbound’ approach based on:– Authentic storytelling– Content that adds value to our customers/buyers– Data and analytics– Real time engagement– Creating excellent online customer experiences
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Rethinking Marketing & PR
• Unlearn marketing – it is no longer ‘about us’
• New ‘mindset’ required
• Stop telling people how good we are. Prove it. Spin is dead.
• A shift from Outbound Marketing to Inbound/Content BasedMarketing
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Leading Edge Thinkers
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Brian Solis - Ultimate Moment of Truth
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Reality Check
Customers are no longer passive sheep
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Apply the principles of Inbound/Content Marketing to your own career development
Use social media to establish a position of ‘thought leadership’; differentiate your personal brand – stand
out from the crowd
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Create Music Not Noise
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We all face a danger of becoming obsolete?
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Social Customer Service and Real Time Engagement is the New
Marketing
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Constantly connected customers (especially Digital Natives) require constantly connected Social Customer Service Excellence but few
brands deliver
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ScotRail and Social Customer Service
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Time for us to ‘Shut Up and Listen’
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It’s Social
A conversation not a broadcast platform
Conversations are taking place relevant to your brand – are you listening?
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Social Media Listening
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It is no longer just abut Social Media, it is also about Social Business –
‘Enterprise Social’
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The times they are a changin'
• Current leading-edge thinking is that we are on the verge of another tectonic shift: from Social Media to Social Business
• A Social Business is one that develops innovative new work methods and processes by applying social thinking, social strategy, social culture, social organisation and social technologies to everything it does (internally as well as externally). Social across the value chain.
• Organisations who ‘get this’ will survive and prosper - those who don’t will become 21st century dinosaurs
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Not sure? – then consider the following……..
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Productive Time
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Productivity Busters
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Global Workforce Survey 2012
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eMail v. Social
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A Better Way to Collaborate
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If we need to adapt or die, do we have the Digital Leaders to drive
change?
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The evidence would suggest NOT….
• ‘The State of Digital Business in 2014’ - only 15 percent of companies have the capability to implement digital strategies (Forrester Research, 2014)
• Successful digital business transformation requires the full support of CEOs to drive investment priorities. However, few CEOs fully understand digital
• We are facing a Digital Execution Crisis. Missing digital skills are the key hurdle to digital transformation in 77% of the companies surveyed (see also - ‘The Digital Talent Gap: Developing Skills for Today’s Digital Organizations, 2013’ – CapGemini)
• Leading US Business Schools such as Harvard, Stanford, MIT and others have responded to the digital business skills shortage by offering Executive Programmes in ‘Driving Digital Change’. The majority of Business Schools in most other countries have been much slower to respond
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Digital Leaders Urgently Required
• A new breed of senior executive is required – Digital Business Leaders
• Executives who combine high level business knowledge and experience with the ability to develop Digital Transformation Strategies fully aligned with and supportive of agreed business goals and objectives
• Executives with the personal skills and confidence to drive organisational change
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Currently Reading
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Currently Reading
• Is your organization ready for what’s coming?
• Between the decline of modern management, the social media shift of power toward individuals, and the ascent of the Millennial generation into leadership roles, companies of all shapes and sizes are facing a future that they are ill-equipped to handle. As a result of this perfect storm of changes, many organizations are struggling to stay relevant to customers, capitalize on opportunities in the marketplace, and attract top talent.
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Currently Reading
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Future Digital Leaders Networkwww.futuredigitalleaders.com
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Our Social Footprints
@DrJimHamillwww.linkedin.com/in/drjimhamill
@VHSocialMediahttps://www.linkedin.com/in/vincenthamill
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