digital transformation

You keep reading and writing and saying “digital transformation.” Do you know what that means?

In September 2019, I did a keynote titled “Marketing in the Era of Customer Experience” for an American Marketing Association (AMA) event. In that keynote, I talked about the 10 realities of marketing in the era of customer experience. The tenth item I talked about was titled, “Digital Schmigital.” I got a few chuckles and a bunch of “bravos” out of that one.

I picked up an old copy of Fast Company magazine yesterday. It is the 2012 March edition featuring the world’s top 50 most innovative companies. Apple was first, with Facebook, Google, and Amazon topping out the list. Now six years later—aside from a few new editions like Tesla, Airbnb, and Uber—there are no established companies stepping up to challenge the original four.

A knowledge summary is a semi-long to a long post that synthesizes positions, concepts, and lessons learned around a topic.  They consist of a mix of primary research with ideas and frameworks I built based on conversations and working sessions.

This knowledge summary will focus on concepts you have to know to embrace digital transformation in the next decade.

A few industrial leaders have always been at the forefront of innovation and set the trends for their respective industries, but banking and financial services are just going through their transformation journeys. They are all driving digital transformation throughout their enterprise with a relentless commitment to rethink every asset, process, and architecture of these enterprises. Digital transformation is widely talked about, with consultants lining up to show endless PowerPoint slides of the state of the digital revolution that they claim boardrooms cannot ignore.