CIO Straight Talk - Issue 8 - 53
Many companies are focused too much on
process and product development, and they look
at customer feedback only after the product is
the customer experience and has got the data
analytics to know what they want next.
Even if you're in manufacturing and you
released. Instead, they should actively develop
think you're not going to be affected by digital
communities and then focus on speed and
technologies, you should start your digital journey
collaboration. If you get small releases out early,
now. Companies that have not figured out what
then your feedback loop is early and so is your
makes them digitally valuable to their customers
ROI. Extend your development team to include
are going to fail.
customers every step of the way.
In the digital economy, the power lies with
At The Economist, we've been known for
more than a century and a half for our weekly
the customer. Customer feedback gets to you
publication. But now, digitally, we can even
much quicker than ever before, and that's a
challenge our own business model. We developed
good thing. But because of digital technologies,
an app called Espresso that each morning delivers
it is also so much easier for customers to switch
five short-form stories. What was important in
to your competitors. If customers can switch in
developing Espresso was not the app itself but
a heartbeat, you must have a strategy and an
what it represented-a new way to reach our
approach that will give them a great experience
customers and potential customers and a new
and get them engaged, and even directly involved,
business model.
very early in the product's lifecycle.
Many companies think they're not digitally
Ultimately, digital is more than producing an
app. It's more than figuring out who and what can
disrupted yet-but they will be very shortly. By
digitally disrupt you. It's re-thinking your business
the time they realize that, it'll be too late because
model and pursuing the business opportunities
a newcomer has built the capabilities, the loyalty,
opened up by new digital capabilities.
TAKEAWAYS
* Identify your specific digital challenge. Start small, with something that
you think would be manageable. Be sure you understand why what you
are trying to do will be better when you do it digitally.
* Rather than organizing your teams by types of skills, create
cross-functional teams. Instead of aligning by function, align the teams by
product so that people's passions are focused on the product rather than
their specific work.
* When you're working with digital capabilities, you can't think too
long-term. Rapid advances in computer technology and its new
applications make long-term planning a futile exercise. Maintain a mindset
of agility across everything-your customers, your teams, your internal
systems. Use customer feedback to experiment again and again.
53
CIO Straight Talk - Issue 8
Table of Contents for the Digital Edition of CIO Straight Talk - Issue 8
Contents
CIO Straight Talk - Issue 8 - Cover1
CIO Straight Talk - Issue 8 - Cover2
CIO Straight Talk - Issue 8 - 1
CIO Straight Talk - Issue 8 - Contents
CIO Straight Talk - Issue 8 - 3
CIO Straight Talk - Issue 8 - 4
CIO Straight Talk - Issue 8 - 5
CIO Straight Talk - Issue 8 - 6
CIO Straight Talk - Issue 8 - 7
CIO Straight Talk - Issue 8 - 8
CIO Straight Talk - Issue 8 - 9
CIO Straight Talk - Issue 8 - 10
CIO Straight Talk - Issue 8 - 11
CIO Straight Talk - Issue 8 - 12
CIO Straight Talk - Issue 8 - 13
CIO Straight Talk - Issue 8 - 14
CIO Straight Talk - Issue 8 - 15
CIO Straight Talk - Issue 8 - 16
CIO Straight Talk - Issue 8 - 17
CIO Straight Talk - Issue 8 - 18
CIO Straight Talk - Issue 8 - 19
CIO Straight Talk - Issue 8 - 20
CIO Straight Talk - Issue 8 - 21
CIO Straight Talk - Issue 8 - 22
CIO Straight Talk - Issue 8 - 23
CIO Straight Talk - Issue 8 - 24
CIO Straight Talk - Issue 8 - 25
CIO Straight Talk - Issue 8 - 26
CIO Straight Talk - Issue 8 - 27
CIO Straight Talk - Issue 8 - 28
CIO Straight Talk - Issue 8 - 29
CIO Straight Talk - Issue 8 - 30
CIO Straight Talk - Issue 8 - 31
CIO Straight Talk - Issue 8 - 32
CIO Straight Talk - Issue 8 - 33
CIO Straight Talk - Issue 8 - 34
CIO Straight Talk - Issue 8 - 35
CIO Straight Talk - Issue 8 - 36
CIO Straight Talk - Issue 8 - 37
CIO Straight Talk - Issue 8 - 38
CIO Straight Talk - Issue 8 - 39
CIO Straight Talk - Issue 8 - 40
CIO Straight Talk - Issue 8 - 41
CIO Straight Talk - Issue 8 - 42
CIO Straight Talk - Issue 8 - 43
CIO Straight Talk - Issue 8 - 44
CIO Straight Talk - Issue 8 - 45
CIO Straight Talk - Issue 8 - 46
CIO Straight Talk - Issue 8 - 47
CIO Straight Talk - Issue 8 - 48
CIO Straight Talk - Issue 8 - 49
CIO Straight Talk - Issue 8 - 50
CIO Straight Talk - Issue 8 - 51
CIO Straight Talk - Issue 8 - 52
CIO Straight Talk - Issue 8 - 53
CIO Straight Talk - Issue 8 - 54
CIO Straight Talk - Issue 8 - 55
CIO Straight Talk - Issue 8 - 56
CIO Straight Talk - Issue 8 - 57
CIO Straight Talk - Issue 8 - 58
CIO Straight Talk - Issue 8 - 59
CIO Straight Talk - Issue 8 - 60
CIO Straight Talk - Issue 8 - 61
CIO Straight Talk - Issue 8 - 62
CIO Straight Talk - Issue 8 - 63
CIO Straight Talk - Issue 8 - 64
CIO Straight Talk - Issue 8 - 65
CIO Straight Talk - Issue 8 - 66
CIO Straight Talk - Issue 8 - 67
CIO Straight Talk - Issue 8 - 68
CIO Straight Talk - Issue 8 - 69
CIO Straight Talk - Issue 8 - 70
CIO Straight Talk - Issue 8 - 71
CIO Straight Talk - Issue 8 - 72
CIO Straight Talk - Issue 8 - 73
CIO Straight Talk - Issue 8 - 74
CIO Straight Talk - Issue 8 - 75
CIO Straight Talk - Issue 8 - Cover3
CIO Straight Talk - Issue 8 - Cover4
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