It is difficult to take into account all the parameters of the company’s digital journey. At the same time, it is essential not to forget the ecosystems required to unlock the value of the chosen technology – that is, the right talents.
Reports show: better business with a better team
It is difficult to take into account all the parameters of a company’s digital journey. Of course, many companies have a full focus on the strategic alignment between technology and business goals.
At the same time, it is essential not to forget the ecosystems required to unlock the value of the chosen technology – that is, the right talents.
Above, according to Accenture, who have looked into 900+ multi-billion companies in their digital transformation.
According to Accenture, there is a particular set of levers that must be used for companies to effectively adopt and integrate the new digital technology and thereby drive value.
Today it is not enough to digitize part of the company and believe that it gives results throughout the organization. Instead, profitable companies are continually delivering new experiences and products. They use the right combinations of digital technology – and they do it continuously. But identifying the perfect combination of the rapid development of digital technology while creating value is not easy.
Five major challenges
Accenture writes that only 13 percent of executives in the companies involved believe that they both increase sales and earnings thanks to their technology investments. Five specific challenges that stand out:
# 1. Inability to effectively apply digital technology due to rapid development – 48%
# 2. The team lacks the knowledge and skills to design and deliver value with digital tools – 31%
# 3. Lack of accurate and continuous knowledge of customer needs – 28%
# 4. Inability to measure the performance of digital technology investments – 28%
# 5. Poor data security and incomplete/poor data – 27%
So when to turn which lever? Accenture has identified five value triggers for the introduction of new technology. They are access to capital, the right partners, adaptivity, and ROI, but first and foremost – access to the right talents:
Keep track of your talents
By constantly monitoring the company’s talents, both in terms of number and technical competence, the company has a way to measure talent readiness. Carefully evaluating and managing the talent pool guarantees the availability of technical and strategic skills throughout the digital journey.
For example, what is the availability of talent/skillsets required for development, integration och maintenance of said technology? And do you have access to enough people, both inside and outside your organization, who understand the technology and can apply it to your market and industry?
Jamie Brighton is Product Marketing Manager at Adobe Experience Cloud. He agrees:
”Too many brands become paralyzed by not knowing where to start or how to approach the adoption of a customer-centric strategy. Essentially, digital transformation is about people, process, and technology, and you need the right mix of skills and an environment for people to flourish in, as well as the right technology to enable them.”
In surveys by Adobe, it is also apparent that the team is key to success. In their annual Digital Trends Survey, 13,000 marketers around the world have answered several questions.
Digital marketing and e-commerce have evolved tremendously in recent years, and individual marketing channels, tools, and platforms require specialist expertise. Therefore, according to the survey, companies must ensure that they have access to everything from analysts to creative talents.
Organizations need to keep their employees up to date on the latest technology and trends. It is also necessary to have access to external resources that can support where required. Commercial success, the survey says, can only be achieved if the team has the right knowledge and skills to succeed. Without the right team, it doesn’t matter how advanced your technology is.
Good for business
In Adobe’s survey, three-quarters (74 percent) of respondents state that they work in cross-functional teams with the customer at the center. Companies with this type of strategy have a better margin than their competitors (20 percent versus 11 percent). In a successful cross-functional team, it is also ensured that external and internal resources work together for the best possible experience for the customers.
At Customersonly, we want to help leading brands to find the marketing manager the optimal team. Our solution consists of ”Cross-Agency Functional Teams,” teams from the customer together with employees from several agencies plus consultants – all equipped with the right tools to realize the business goals.