The ability to use free platforms to create and roll out new ideas is not just compelling; it’s disruptive. And 90% of executives get it — digital disruption is real, powerful, and threatening. But according to a new Forrester report out today, the realities of big business hamper the opportunity that digital disruption generates. “Big companies that can’t agree on budgets and people to staff a disruptive effort will be stuck in meetings — while digital disruptors change the game from their living room,” writes Vice President and Principal Analyst James McQuivey.
What’s more is that while 65% of executives are excited about what digital will do for their companies, only 32% believe that their policies and practices will enable them to adapt. “Executives are too quick to assume that proof of digital disruption will be found in building an iPad app or achieving numerous ‘likes’ on Facebook,” notes McQuivey. “But this is not the case: Digital disruption is not about any particular technology or futuristic customer fantasy.” Instead, McQuivey maintains that firms know when the have achieved digital disruption when they have built deeper customer relationships, expanded total product experiences, and leveraged a dynamic process for learning what to give customers next. In the report, McQuivey outlines the three challenges that hamper digital disruption (and how to overcome them) and provides a framework for firms to take the next step.