Surviving and Thriving in a World of Digital Giants
Shep Hyken interviews Ray Wang, Principal Analyst, Founder, and Chairman of Silicon Valley, based Constellation Research, Inc. They discuss Ray’s book, Everybody Wants to Rule the World: Surviving and Thriving in a World of Digital Giants, a groundbreaking guide that reveals which companies will thrive and get crushed by the powerful forces now at work.
 
Top Takeaways:
- The biggest insight is that the companies that figured out how to win have actually increased their gap with everybody else. It's like they've left the other companies in the dust.- Do you have a digital business model? Do you understand how you build a business around that? And do you have digital monetization? And then, of course, are you focusing on delivering an excellent customer experience?- Customers are trading loyalty for convenience, status, and value. This is even more important as we advance because brands that don't understand loyalty and community will be dead in the water.- In the middle of the pandemic, we set off this ultimate collection of autonomous data collection and information/insights that actually drive signal intelligence. And that refinement of that information insight is creating competitive modes for organizations that know how to use data. Brands and companies can now predict what you might like, prevent fraud, mitigate risk, or identify a new market that hasn't been touched. - Mass personalization happens in places all around us. So we've gone from transactional systems like CRM to engagement systems that are really like social business to experiences, which is about using technology and AI to craft journeys that deliver mass personalization at scale.- You have to go out and find your turnaround catalysts. Reinvent your board to start thinking long-term, so they can compete, not on the short-term quarter to quarter EBITDA cycle, but long-term in thinking about dominating and building your digital giant.
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“If I don't have any competitors, I'm going to get stagnant.” About:R "Ray" Wang is the Principal Analyst, Founder, and Chairman of Silicon Valley, based Constellation Research, Inc. He is the co-host and co-founder of the widely watched DisrupTV, a weekly enterprise tech and leadership webcast.
 
Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and your host of Amazing Business Radio.
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