Blue Latitude, in partnership with Econsultancy, published the first report “The Impact of Digital Beyond Sales and Marketing: How Digital Is Transforming Organisations” on Thursday, 7th October 2010.
Digital’s impact on business to date has largely been in sales and marketing, addressing the changing needs of external customer audiences. The report investigates the expansion of digital disruption into other business functions and audiences, including employees and partners.
Insights for the report were derived from qualitative and quantitative research which commenced at Econsultancy’s Digital Cream event in March 2010, where Blue Latitude hosted three roundtable discussions exploring business challenges faced by delegates managing digital business functions. An additional 15 in-depth interviews were undertaken with senior executives across a range of organisations . The quantitative part of the research involved an online survey of more than 100 senior, client-side Econsultancy members, typically senior executives. Both were undertaken in April and May 2010.
The report is split into three sections:
1. Impact of digital on the different business functions
2. Challenges and barriers to greater digital adoption within business
3. Prioritisation and the measurement of success
As a friend of Blue Latitude, we are inviting you to receive a FREE exclusive copy of the full report. Simply email your request to Report_BSM@bluelatitude.net along with your name, job title and company name. If you are a member of Econsultancy you can download the report here or purchase a copy for £250.
Findings from the report include:
- Over a third of companies surveyed (36%) do not have a formal strategic plan or roadmap for digital change.
- Almost one third of respondents (32%) said that digital will have a “huge impact” on their organisations over the next 12 months. This percentage increased to 60% when asked about the next two years and 82% over the next five years.
- Beyond sales and marketing, businesses are failing to exploit digital effectively or efficiently. Key functions where digital technologies have the potential to effect the greatest change are customer service; and human resources (including recruitment).
- The biggest challenges to digital innovation are financial and structural, followed by human factors including cultural resistance, fear of change and attracting digitally-savvy staff.
- The skills
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gap is widening between digitally savvy junior hires and more experienced (but digitally naïve) team members. More than two thirds of companies surveyed (68%) have difficulty recruiting staff who are sufficiently skilled about digital technology and communications.
- The challenge of recognising, nurturing and retaining internal digital talent is also significant. Some 45% of businesses have no recognised process for this, while 88% of respondents admitted that there is no formal process for sharing digital know-how within the business.
- Success in the digital economy will not be found in technology alone: human capital – the calibre of employees, their skills and their knowledge – will prove a decisive factor in future success.
Hear more about the report, from Dominic Collier, Senior Consultant at Blue Latitude by visiting our blog. We welcome your own personal experiences and success stories.