Disruption is the choice because disruption often automatically leads to a competitive advantage when poised with a great business model and organisation. For example, in the case of Netflix which now has an estimated net worth of $125 billion. Blockbuster refused to buy the company for $50M in 2000. That would not have happened without their disruptive digital strategy.
Disruption is all about risk-taking, trusting your intuition, and rejecting the way things are supposed to be. Disruption goes way beyond advertising, it forces you to think about where you want your brand to go and how to get there.– Richard Branson
With the rise of online streaming, Netflix jumped on board and was able to knock traditional movie shops out of the game thanks to a wider selection, all-you-can-watch, convenient and low-cost approach. (Australian Institute of Business, 2017)
Being disruptive requires market research, thorough knowledge of competitors in the market that your organisation wishes to disrupt. Disruption also cannot occur without vision that is based on this research. Basing your vision on the research is essential to successful market disruption and a disruptive digital strategy.
Once you have vision based on research, it is necessary to have a plan to implement your vision. Without thorough planning around your vision, disruption in your marketing strategy can become nothing short of an outlandish fantasy. Outside of this having the right team, having the team aligned, and having great communication in regards to each member’s participation in the disruption is essential to success.
Everyone in the organisation should know their purpose in the vision, execution of the disruption in your disruptive digital strategy. This requires ensuring that communication channels are being effectively utilised across all areas of the organisation. This requires ensuring that everyone is on the same page with the digital initiatives required for a more disruptive digital strategy.
Characteristics of Successful Disruptive Companies
These are three characteristics that can often be associated with disruptive companies. Being bold is key to standing out in a market and when you’re doing something that no other organisation has done then it is almost an absolute requirement. Being accountable is very important because this means that while your organisation is doing something new that it is making sure to uphold a great customer experience no matter what happens.
Being accountable also means making sure that internally everyone takes the same level of responsibility that they would normally take despite the new challenge that can occur with bringing more disruption into your digital strategy. Being strategic is important as well, disruption often goes hand in hand with new partnerships for example that extend your company’s abilities to reach into specific markets.
Here at flektion, we will show you exactly what your organisation needs to do in order to have a more disruptive digital strategy. To learn more, drop us a line and we’ll happily give you a free consultation.