Tuesday, September 9, 2014

Eat the Sushi

The August edition of Forbes Insights revealed that 65 percent of the C-level executives they surveyed (125 in total) at consumer goods companies indicated their organizations need to do a better job of harnessing digital technology.  My query today: Why are they waiting?  Time to eat the sushi!    
Read On:
What do I mean by eat the sushi?  I acquired the expression from Julie Myers Wood, CEO at Guidepost Solutions.  In a Corner Office interview she said: “When I had just graduated from college, I went with my mom to Japan.  We had a wonderful time, but I refused to eat sushi.  Later, when I moved to New York, I tried sushi and loved it.  The point is to be willing to try things that are unfamiliar.

The Forbes study pointed out that many companies have a long way to go before they realize the full potential of digital marketing.  Candidly even those that have been early adapters still have a long way to go.  However, at least they have a jump start due to experimenting and learning from their wins and losses.  Other key findings:

·         Fragmentation – 42 percent of the executives indicated that their companies (47 percent for those companies over $17 billion in sales) had too many products and divisions, subsequently their digital movements were not fully integrated with their overall strategic initiatives and organizational processes.

·         Silos – Digital marketing and e-commerce were frequently organized as separate operating units.

As I have shared in previous posts, embracing digital technology is vital for any organization that wants to evolve into a competitive social enterprise. Recommendation: Start now versus waking up in a few years realizing that you have to get on the digital bandwagon.

Are you ready to eat the sushi?  

1 comment:

  1. Jimmy, your points about fragmentation and siloing are right on. One way to begin changing these situations may be to elevate critical cross-functional roles to the C-Suite. For example: Next week I'm going to HubSpot's annual user and partner conference Inbound 2014. One session I'm very much looking forward to is called "Birth of the Chief Digital Officer." The presenter is Perry Hewitt, CDO at Harvard. This is an interesting development and I want to learn how they identified the role and got it into place. I'll gladly share with you when I get back.