With the business dynamics changing in a customer-led digital world Forrester’s 2017 predictions require CEO’s and organizations to change their strategic thinking.
In a bid to get closer to customer, organizations will abandon siloed approach to function with matrix structures that leverage shared functions to prioritize efficiency and control. The change in structure is taking place on account of two factors
• Get closer to the customer.
• Avoid the complexity — and marginal results — of trying to deliver experiences to multiple customer segments across multiple products.
CMOs will need to follow The Whole Brained approach, using the left and right side of brain, using analytics to deliver personalized contextually rich technology experience, while delivering engaging experiences. The focus will be on skill set that drive digital business transformation, design exceptional personalized experiences, and propel growth.
CIOs will take the lead position in shaping the Digital strategy of the organization.
The new leadership places emphasis on three dimensions ;
- Understanding and personalizing engagement with customers.
- Running a digital business.
- Knowing what’s needed to win in a customer-led, digital-centric market.
CEOs need to know what is needed to propel their company forward in a customer-led, digital-centric business.
In 2017, CEOs will continue to strengthen and normalize their leadership teams, and temporal roles created to fill the gaps such as Chief Digital Officer will either fall out of fashion or be calibrated (down) to drive the key digital, data/analytic, and customer programs
Customers are driving Revenue risk. “Today’s customers reward or punish companies based on a single experience — a single moment in time. This behavior was once a Millennial trademark, but it’s now in play for older generations. It has become normal.”
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