Gartner has just published a press release with some data on the survey they conducted amongst 273 people serving as directors or members of corporate boards of directors in US, Europe and Asia-Pacific.
I’ve highlighted two of the stats that stood out for me in the infographic. But first, for the one, I had to try and figure out what the heck they meant by “attempted to alter their enterprise economic structure to a more digital economic architecture.”
Gartner explained this meant boards were trying to accommodate digital investments by “changing their capital allocation and governance approaches.”
40% of respondents said they have already moved some digital business-related budgets to business functions, according to Gartner, as opposed to a more centralized tech or IT budget.
One in every three told Gartner that they have also changed the metrics that are used in order to evaluate the returns coming from digital investments.
So for me this is the first of the significant stats. It signifies that they want to put control of digital initiatives in the hands of those that control the commercial destiny and success of the firm, i.e. out of IT into business. This is not new but the percentage is striking and bodes really well. This is where digital initiatives should reside. Not that IT will no longer be involved, quite the contrary as you can read from the press release, but they will play a different and lesser role, as it should be.
The second stat around digital tech initiatives being the highest amongst 7 other strategic business initiatives is the other one that stood out. Again, as it should be. Why?
Because as Bain’s Technology Report 2021 puts it, if you think we’ve reached peak disruption and innovation, think again. This decade will see an explosion of new opportunities as cloud models evolve, AI blossoms, and every company puts technology at the heart of virtually everything they do.
Working at Yammer back in the day (2012 onwards), we were at the forefront of some cutting edge work practices that had been brewing a while. The advent of social technologies of which Yammer was a latest iteration and that I had also previously been involved in (more here: birth of enterprise social) were driving these new practices. At the time we came up with a concept that could probably be called a precursor to hybrid work in that it made the most of social technologies that enabled remote work yet also included in person work. We used to hold frequent get togethers including customers, employees, leading outside thinkers, etc. There is still a Facebook group and LinkedIn group that are semi active for organising things. The manifesto which is the featured image for this post describes the concept at its core and below are some additional notes penned at the time. Sharing here for posterity.
For two main reasons its due an update. The clue to the first is in the original title. Anything that lays claim to being modern needs a revisit at least every 5 years.
The second is the more important one in that the COVID-19 pandemic has had a profound effect on individuals and organisations since then and this requires the model to be revisited.
The pandemic has put pressure on organisations like never before and so it becomes even more important to hone your craft and perfect the way you actualise your business for continued survival. I would argue that Maslow’s Hierarchy of Needs continues to provide a sound basis for addressing the needs of an organisation (just as much as for an individual) and what to focus on for a healthy and successful business.
Some of the elements remain unchanged so I wont go into detail on those other than what you can read in the DanelDoodle – read the original post if you want to know more. Below is a little on what I think has changed in 5 or more years and since the pandemic hit us.
The title of this post actually comes from a video I viewed on Big Think way back in 2016. It was a short video by renowned American physicist, Michio Kaku. I’ve just searched the site extensively to try and find it again but couldn’t. Good thing I downloaded a copy at the time and uploaded it to YouTube. I wanted to capture it as I recall it was not shareable. I have based a lot of my thinking on its prognostications since then. I first referenced it here: After robots and AI – intellectual capitalism where creativity and imagination thrive.
My background in advertising makes this an interesting topic and you will hopefully soon see where the company customer interactions come in. I started out in the ad industry in the 90’s but left it before the turn of the century. My reasoning: the writing on the wall which indicated a gradual decline and irrelevance for the practice, especially at the onset of the technological revolution that was the world wide web. Twenty years later it’s worth pondering where things stand and if I was right in any way.
I’ve been in this space formally for almost 10 years now. I say formally because I’ve been doing the work a lot longer, just under another name. I’ve been passionate about it all these years and still am but after that long, you’ve got to question things. I’ve written on the state of customer success twice before, in 2017 and 2018. This is not such a post since they were in depth pieces based on the annual Pulse events run by the category builder Gainsight. This is just a simple temperature check, for my own sanity if nothing else.
Customer Success and Marketing functions are increasingly interrelated and working together. With scale motions and operations it’s driving customer experiences to new heights. I’m not sure its a new trend but I’ve started watching it here: Customer Success Marketing and Scale
A trend watcher is an innovator that spots trends and determines if they are here to stay and whether they should be incorporated into existing strategy. I enjoy it, it keeps me on my innovation toes and I dabble. I’ve captured this view with a few trends I’m tracking and published reports on already: Trend Watching
Microsoft Teams, with its 115M users, is way more than just chat or meetings. From this Geekwire article:
“Meetings are important, but they are transactional. Work happens before meetings, during meetings, and after meetings. That ability to have the workflow completely stitched together is where Microsoft 365 really stands out. That reinforcing effect of Teams by itself, and then Microsoft 365 in conjunction with Teams, is where you’ll see a significant amount of usage growth, more so than individual tools of the past, even.”
Subscribe below and receive periodic updates covering:
📢 Software as a Service Marketing
👩🔧 Customer Success Operations
🙋♂️ User Adoption and Employee Experience
💰 The Subscription Economy
💡 Digital and Startup Innovation
🧘♀️ Personal Productivity and Wellness