"Antony Jenkins, the former group CEO of Barclays and founder of core banking startup 10x, has stated that companies were becoming “museums of technology” as he commented on a recent study across the banking industry, Finextra reported on June 12."

The problem is that companies have "failed to properly embrace true digital transformation and are consequently shedding huge numbers of customers to more nimble tech-first rivals."

While this report is about banking, what we are seeing is that all sectors are being impacted, not just be smaller rivals, but businesses that embrace digital processes and the digital empowerment of their people.

The mistake you are making

Afterall the tech sector has made some massive layoffs all down to the fact that they continue to market and sell like it's 1980.

The issue that they all make is that they look at apps and think that is somehow they are digital transformation.  When it is actually just a sticking plaster on an underlying process and business model and operating model that no longer works.

Ask any business how their pipeline is? And they will tell you that they don't have any.

Ask any business why they keep insisting in using cold calling, which is 40 year old technology, or email marketing which is some 30 years old.  It's not like we still use faxes or Blackberries in work.  Life and business has moved on. 

Albert Einstein: The definition of insanity is doing the same thing over and over and expecting different results.

Now we have hit a downturn / recession

Now that we have hit a downturn, these old legacy practices that don't work have been found out.

The late great Ayrton Senna once said:

 “You cannot overtake 15 cars in sunny weather…. but you can when it’s raining.”

Today’s challenging environment requires business leaders to hone their edge in digital, by understanding the business benefits of having a social media (digital) strategy driven from the Board, benefits include:-

• Visibility – recognition in the marketplace
• Trusted advisor status
• Recruit and retain the best talent
• Employee engagement & shared sense of purpose
• Pipeline, growth and new customers

Want to know more about digital business check out my new book

"social selling techniques to influence buyers and changemakers - 2nd edition".

In this brand new edition, I have updated all the text, I have also got 15 practitioners, so people who are doing this already to explain how they are get (practical) business benefit. From the CEO that has been running a digital business for over 18 months to sales leaders who use social selling every day.  

Articles on how these business have and are implementing digital, from Mercer, Telstra Purple, Ring Central, Cyberhawk, Namos, Ericsson, DLA Ignite and more.

What does Mark Schaefer, Marketing guru think of the book "social selling - techniques to influence buyers and changemakers - 2nd edition"? watch the video here

It's available on Amazon worldwide.  Link to Amazon.com here and Amazon.co.uk here.