Welcome to the New Era
of Digital Business.
We are in the midst of a historic digital disruption, in which two types of companies are emerging. The digital disruptors...and the digitally disrupted.
Disruptors understand that digital is a matter of business survival in the new era.
Disruptors are upending entire industries, even themselves, through digital.
Disruptors don’t think ‘put a website in front of what we did yesterday’ and call it digital. They think ‘redesign our business to transform customer value’ through new digital products and services.
In the new era digital product is the new digital business.
Here’s another thing digital disruptors understand. The way we understand and measure business success in the new era needs fundamental transformation.
The problem is that we build products on one end and hope the desired revenue comes out the other end. But in the middle we have a gaping Digital Black Hole.
You build products and campaigns on one end.
and engagement and revenue comes out the other end.
Even with global spending on digital transformation reaching a staggering $6.8 trillion by 2023—and 500 million new digital products launched by 2023, businesses have no idea how their digital product investments directly connect to business or customer value. And as a result, we can’t answer the most strategic and business-critical question of the new era.
The question that we have tried to answer—unsuccessfully—by throwing more ‘experiences’ at it. Of course a great experience is the goal. But we don’t need more ‘experiences’. We don’t need more ads, more channels, more features, more content. None of these answer the $6.8 trillion question.
How does your digital product drive your business?
To try and answer this question, we force fit a cobbled together patchwork of point tools built for the old era, but they were never designed for this.
Focuses on surface level customer acquisition metrics: ad clicks and web visits.
Understands what customers think and feel but lack understanding the ‘why’ of customer behavior.
Requires an army of expensive data scientists and weeks to months of analysis to get to the answer.
According to Gartner, 85% of organizations are using marketing analytics tools to make decisions about what features to build. These tools were never designed for this. They measure ad clicks and page views.
This was sufficient when customer acquisition was the endgame. But what was once a straightforward path to purchase is now a complex path. In the digital product there could be millions of individual actions a customer can take in any random order.
How can you know what combination of features or actions translate to revenue, loyalty and lifetime value by measuring ad clicks, page views and survey responses?
That’s like trying to solve a complex calculus equation with a dictionary. It’s solving the wrong problem.
And even if you had the right data to answer the question, by the time it gets to the teams that need it the moment of impact has likely passed.
In the new era, this is enough time to get ‘Amazon’d’.
Until now there hasn’t been a system which...
Deeply understands the customer behaviors and actions that lead to business outcomes from the place where value is created—the digital product.
Unlocks these insights from siloed tools, BI and data scientists, and puts it directly in the hands of the teams that need it and can do something with it quickly.
Automatically and intelligently adapts each individual experience in the moment to maximize both the business and customer outcome.