Today the only source of competitive advantage and value delivering comes from seeing what customers need and delivering it.
Digital disruptors are changing complete industries, delivering value at a lower costs, with faster development times and with greater impact on customer experience.
Digital disruption is simply a mindset that leads to a way of behaving; a mindset that bypasses traditional off-line obstacles, eliminating the gaps and boundaries that prevent people and companies from giving customers what they need in the moment that they want it.
Digital disruptors are obsessed with measuring results and rapid innovation cycles in which failure and mistakes are viewed as feedback.
Always evaluate your customer, benefits, business and product
- Customer: isolate the core target customers and make some smart guesses about what makes them tick. Ask yourself what your target customer really needs
- Benefits: what is the next thing that customer needs?, express the need in terms of what the customer will get out of the deal if you succeed.
- Business: what will we get out of it if we innovate?
- Product: the art of harmonising Customer, Benefits, Business and Product into a single approach
In other words, you need to focus on creating innovations that are most likely to give the consumers you want to reach the benefits they really desire while achieving strategic outcomes that are meaningful to the organisation.
How to deal with digital disruption inside a large company?
- Create small innovation teams
- Identify silos and break down the boundaries between them
- Get senior executives to commit their support
- Insist on short development time frames
Digital disruptors constantly seek for the adjacent possible:
- Asking a simple question “what is the next thing my customer needs?
- Iterating so quickly from one adjacent to the next
- Giving the customer the next logical thing, or things
Digital disruptors keep the scope of their innovations small. Rather than creating a five-year innovation plan, digital disruptors proceed from adjacent possibility to adjacent possibility, occasionally failing, but failing so quickly and so cheaply that recovery can be nearly immediate.
Read more: James McQuivey. “Digital Disruption: Unleashing the Next Wave of Innovation“. Amazon Publishing.