According to the HBR Blog Network article by Walter Frick, “Companies across the world are ramping up their digital initiatives, according to a new survey from McKinsey, with the C-suite increasingly leading the way. “Digitization has become a critical asset in many companies’ quest for growth,” write the report’s authors, noting the increased involvement by CEOs and other top executives.”
We are seeing this trend also, as we work with CEO’s and CMO’s here in Wichita, KS. According to the study, CIO’s support and sponsor 69% online asset projects, compared to only 27% of board members. The number for CMO’s rivaled that of the CIO, and those numbers are up 10% since two years ago. Obviously the C-suite is becoming aware that those who lag behind will not thrive. This is why this is called the Digital Tipping Point. Those who do not take action now, will fall severely behind those who have, as the talent pool is so competitive, and finding good tech partners is getting harder.
Having been in this business for two decades, we have seen trends come and go. When we started in the 1990’s, almost no one had heard of a company website. In cold calling, I was told that they “didn’t need an exterminator” when I used the word ‘web’. I remember the days, years and years later, when I realized that I no longer had to convince companies that it was critical to have a website.
The study’s findings mimic ours: “It’s evident that digitization has become a critical asset in many companies’ quest for growth. More than three-quarters of executives say the strategic intent behind their digital programs is either to build competitive advantage in an existing business or to create new business and tap new profit pools.” Download the full report here.
The new frontier? RWD (responsive web design)
Many companies have websites these days, but most are not ready for the world of mobile search. Some are not even aware of the critical need to have all of their online assets up-to-date and in place, to compete and prosper with the coming economic, global and internet changes of the next decade. We have been sounding the clarion call for Mobile website readiness for the last year. It has been interesting to see how our client conversations have changed, from, “Yes, we have heard about all that mobile stuff,” to, “Yes, we realize that we need to redesign our website with responsive design, and we need to do it now.”
The Missing Key? Talent
The study goes on to say, “Many executives also agree that digital talent remains a trouble area for their organizations. Only one-third of respondents say at least one in ten of their employees spends any time working on digital projects. Of the challenges companies face in meeting their digital priorities, difficulty finding talent often tops the list. Roughly nine out of ten executives say their companies have some pressing need for digital talent in the next year.”