The top five business opportunities of the digital age

Published on November 3, 2015 by Boris Kraft



I recently wrote about the biggest challenges of the digital age.

I’m convinced that companies have to learn to be disruptive. Identify the key areas of your business that, if disrupted, could ruin you. And then you have to disrupt them before someone else does.

Digital transformation goes much deeper than just adding on some digital operations to your business or adding new channels on to your content management strategy. It’s really about looking for a new business model and using digital to completely transform every area of your business, from internal operations to customer-facing processes. I’ve identified a list of the top opportunities that businesses face in the digital age.

 

Opportunities

1. Digital disruption from within: Existing companies need to disrupt themselves, like Steve Jobs did when he stopped making their best-selling iPod to introduce a newer version of it.

2. Show-rooming is a big challenge for retailers, as consumers continue to increase their online shopping. But recently, there’s also been a trend towards webrooming, with people checking out items online before buying them instore.

3. Digital workforces and new ways of working: Startups these days can work with very small inhouse teams, yet still take on the big boys by using the web and technology to create teams per project.

4. The Internet of Things (IoT): The IoT is connecting people and devices with each other in an unprecedented way, creating rich possibilities for consumer engagement. Companies need to consider how using connected devices can provide more value to customers and more savings for them.

5. Micromoments: Consumers nowadays want everything here and now. Businesses need to exploit these micromoments across channels.

Want more? I’ve written a full article about the biggest digital challenges and opportunities facing businesses today for digital marketing magazine.

 

(Cover photo by Greg Rakozy, Unsplash



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About the author Boris Kraft

Boris Kraft has been creating and selling software since the age of 16. He is the Co-founder and Chief Visionary Officer of Magnolia. Boris is a member of the European CMS Expert Group and an experienced speaker and panelist. Boris is also a prolific writer: He likes to blog about all things Magnolia and regularly publishes articles in online and print magazines as well. He is a regular contributor for CMSWire. When’s he’s not thinking about the future of content management in Magnolia’s Basel headquarters, he loves to go sailing on Lake Lucerne, skiing in the Swiss Alps or admiring art around the world.


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