The following is a guest blog written by Amit Shankardass, EVP Marketing at Teleperformance. Learn more about Teleperformance by visiting their website.
Digital disruption is on many corporate agendas right now, but what is it? Put simply, it’s when an idea or technological process changes the way that things are done. If the change is radical enough it can affect companies and even entire industries. Think of how Kodak once led the market for photographic film, yet didn’t see how digital photographs would change their industry.
Digital disruption divides opinion in the boardroom. Some leaders see the opportunity and some see only threats. The very concept of your entire business model being challenged by disruptive market entrants can lead to decision paralysis because no strategies or options appear to be right.
However, if you plan well and create a vision to manage digital disruption it can be exciting and empowering in the way it can reshape your business. Digital disruption often creates opportunities for companies to engage in a deeper and more meaningful way with their customers.
It’s important to appreciate that in the 21st century business environment it is often your customer that dictates the rate of change – consumer technologies have created enterprise disruption. The growth of multichannel communication between customers and brands is a great example that shows just how quickly customer expectations changed. Any customer who asks a brand a question using Twitter or Facebook today will feel ignored if they don’t get a prompt answer, but a few years ago most brands were still ignoring social networks and expecting customers to call a dedicated customer support phone number.
This is an important dynamic that all executives should appreciate – you can no longer plan your customer engagement strategy entirely in the boardroom. You just need to be flexible enough to adapt to what your customers want. I believe there are a few key areas that all executives need to be thinking of if they want to stay on top of digital disruption: Continue reading