Time after time we see people under taking digital transformation and there is a very clear divider between the winners and the losers. The winners, the project is backed by the senior executives.
We've had all kinds of excuses "we don't have to understand digital, we have employed interns to do this". The company that said this to us is still struggling. "Why don't people just get on the phone". When people know that social selling just does not work anymore.
Let's not forget that under taking digital transformation isn't just about the company survival but it can be to seek finance. We see that companies now have a duty of care to transform their businesses to digital and for the C-Suite to lead these projects.
Here at Digital Leadership Associates (DLA) social-experts.net we run a strategy day for senior executives. This is NOT teaching them how to use Twitter or LinkedIn, but to give them an understanding and the basic concepts of what they need to know in the world of social.
The opportunities for the business as well as the challenges. The day is interactive, so it's not sitting listening to somebody talking with powerpoint, but it involves people working in teams.
Once we start our programs with social; social sales, social marketing, social human resources etc, etc. The C-Suite will not only understand the reason for these programs but understand that with the 30% revenue increase you could expect with social selling, this is probably a self financing project.
In hindsight, it’s easy to laugh at this sort of hubris, yet today, many CEOs and their executives are at risk of taking precisely the same approach with digital technology, and it’s putting their companies at risk. Emerging technologies such as artificial intelligence, big data analytics and virtual assistants are transforming business operations, product manufacturing and service delivery, while many new entrants and tech giants are capitalizing on their scale and (analytical) prowess to disrupt new industries. In today’s environment, embracing digital is no longer merely advised -- it’s a mandate for survival. In fact, a 2017 survey found that 56% of CEOs who adopted digital initiatives reported an increase in profits as a result of their efforts.