Leverage opportunities – and become first in class!
“Wake up! Don’t miss digitization!”
Everyone has heard the wake-up call – it’s time for action. Even the most die-hard skeptics have understood that something needs to be done
What happens now: A time of great perplexity
Everyone wants to ‘get going’ -even those who are suspicious of innovation and technical developments. They have recognized that digitization offers countless opportunities – which they cannot escape entirely. Being left behind would be worse than going along. It would be a mistake to miss out, fail to recognize necessary changes, or not be able to respond to them as quickly and optimally as necessary. So then, let’s go! But where are we going? And how?
No one needs any more loudly repeated visions of doom. What we offer instead is an understandable script for digitization, which specifies the ‘scenarios’ of change. A script that explains how the story will unfold and describes the necessary actions.
The script specifies who will assume which role and in which sequence each actor will enter the stage in certain capacities. Above all, you need a competent, passionate team that professionally stages this (digitization) play, by planning, preparing, implementing and monitoring.
Take advantage of opportunities and win your ‘Oscar’
The urgency is clear: Digitization is not a temporary trend. Rather, it is the trigger of a massive upheaval. A change in markets, industries, companies, which is also revolutionizing customer behavior, expectations and wishes. This process did not start recently. It’s just that the phenomenon finally has a name. The actual process began decades ago. Insidiously, less rapidly than now. And without the predominant media attention it is receiving at the moment.
Digitization is so popular now because its effects are increasingly obvious. Its usage and application options are constantly increasing, and new digital products, business models and offers keep popping up, displacing their traditional counterparts.
Technological system landscapes are evolving as they are further developed and improved. Data transmission lines are considerably faster and have broader coverage, while data storage and networking has expanded. Applications are more attractive and user-friendly – and competitive pressure has increased considerably.
Competitive pressure is larger than ever and keeps rising – based on network-related comparability alone. That means companies with all their products and services, prices, qualities and conditions can be compared to the products and services, prices, qualities and conditions of other companies with a simple mouse click. At any time, worldwide. Many competitors have understood these changes and have positioned themselves accordingly, but so have customers. They exercise their options, they search, compare and rely on descriptions and reviews. Written by other customers, whether satisfied or disappointed.
Some 84% of Germans are active online; approximately 80% of German consumers search the Internet for information on goods and services before they make a purchase – and one in every three people use smart phones for product and price comparisons. A trend that is on the rise. Those who don’t make the cut are destined to lose. Businesses that are not visible or cannot be found will disappear completely. Conversely, there are enormous opportunities. Those who manage to position and differentiate themselves can outperform the competition and move to the top.
Skillful staging or exiting the stage
Whether we like it or not, we cannot stop, turn back or sit out the development of digitization. Those who fail to change are bound to perish – in the short or long term. The problem is usually not that services or products deteriorate. Rather, their searchability and visibility as well as the speed of companies responding to changes are important factors – which may block off future options for action.
Those who manage to optimize their market presence and business processes and are able to adapt them to the new requirements, those who use the opportunities of digitization for themselves will not only survive in the long term, but have a chance to be counted among the best.
Digitization is not a temporary trend, but a profound economic, political and social upheaval affecting all areas of life.
The optimistic mood triggered by this insight is commonly followed by great perplexity: What steps have to be taken, and how? How much digitization makes sense? Where is the best place to start, and what is the most reasonable action to take?
The key is to create a digitization strategy with a sense of proportion that takes new technologies and developments into account as much as individual requirements.
Companies need an adequate response to changed competitor and customer behavior – by offering adapted products and services.