Altimeter Group’s study on digital disruption reveals that 88% of companies are undergoing digital transformation. Despite this, only a quarter of these companies have a clear understanding of what this transformation means. The study, which surveyed 20 industries, found that the majority of companies are investing in digital channels to enhance customer engagement. Yet, only 25% have mapped the customer journey and have a firm grasp of new digital touchpoints.

The lack of digital transformation strategy is causing many companies to fall behind. The study highlights the importance of a holistic approach, with a need for companies to redefine their entire customer experience. This includes understanding customer expectations, behaviours, and preferences, and aligning these with the company’s digital transformation strategy.

The report also points out a significant gap between companies’ perception of customer expectations and the reality. Many companies believe they are exceeding customer expectations, when in fact they are not meeting them. This gap is a significant barrier to successful digital transformation.

The study finally emphasises the role of leadership in driving digital transformation. It suggests that companies need to invest in new leadership models that can drive change and foster a culture of innovation. This includes empowering employees and encouraging them to take risks, and creating a collaborative environment where ideas can be shared and developed.

Go to source article: