A book by author Ray Wong has just been release called Disrupting Digital Business and it immediately gained my attention. The premise of the book is that we have moved from selling products and services (largely because of the digital landscape we all communicate in) and so now we need to focus on experience and outcomes to really be able to compete in the market.
Those that can adapt quickly have capture the market so much so that those who were at the top of the Fortune 500 have had to move out-of-the-way for the new type of business model that is innovative, customer centric and continually evolving.
- Examples include Uber – your private driver
- Airbnb - stay like when you are at home
- Officeworks Mailman – print it and post it
As Ray explains there are some traits that set these type of businesses apart from the rest and these include:
1. Transformation focused: where innovative thinking, small bets and failing quickly is encouraged.
2.Relevant: Understanding what is important to your customers and giving them just that.
3.Authentic: transparency and trust and supporting your brand promise: do what you say
4.Intention Driven: We need to be able to predict what would be expected and then go a step further
5.Networked: This is all about creating natural collaborations and affinities to better the customer experience