Can you teach an old dog new tricks?
If the old dog is the C-suite and competency in digital are the new tricks, the jury is out. But the C-Suite wants to learn. That’s according to three sources: IBM Global C-Suite Study, MIT Sloan Management Review and Gartner Digital Marketing Spending Survey.
What in particular? Here are 23 lessons in digital the C-Suite wants to learn.
- 94% of CMO’s believe advanced analytics play a big role in helping them realize their goals (source: IBM Global C-Suite Study)
- 87% of CMO’s want to integrate cross-channel touch points (source: IBM Global C-Suite Study)
- 83% of CMO’s want to put analytics in place to capture customer insights (source: IBM Global C-Suite Study)
- 79% of CEO’s plan to build digital ecosystems capable of supporting complex customer interactions (source: IBM Global C-Suite Study)
- 78% of executives and managers say achieving digital transformation will be critical for their organization within two years (source: MIT Sloan Management Review)
- 78% want social networks to foster collaboration (source: IBM Global C-Suite Study)
- 70% of marketing organizations have a chief technologist on payroll; 80% of them report to marketing (source: Gartner Digital Marketing Spending Survey)
- 69% want a digitally enabled supply chain (source: IBM Global C-Suite Study)
- 67% of CMOs feel under prepared because they have made very little progress in coping with social media (source: IBM Global C-Suite Study)
- 64% say the pace of technology change in their organization is too slow (source: MIT Sloan Management Review)
- 63% of CMO’s say their companies lack a cohesive social media plan (source: IBM Global C-Suite Study)
- 53% indicate their leaders say they “don’t have time” for digital transformation (source: MIT Sloan Management Review)
- 52% say their organization doesn’t even know how to proceed with digital transformation (source: MIT Sloan Management Review)
- Up to 50% of digital marketing activities are outsourced (source: Gartner Digital Marketing Spending Survey)
- 45% of C-Suite executive say they are highly or somewhat dissatisfied with their management structure for digital (source: MIT Sloan Management Review)
- 41% of savings from digital marketing are reinvested (source: Gartner Digital Marketing Spending Survey)
- 40% say their company resists digital transformation with a “this is the way we’ve always done it” explanation (source: MIT Sloan Management Review)
- 38% say digital transformation is a permanent fixture on their CEO’s agenda, and only 36% say their CEO has shared a vision for digital transformation with employees (source: MIT Sloan Management Review)
- 27% say the critical time to implement digital transformation has passed— meaning they’ve missed the boat and are now just trying to survive (source: MIT Sloan Management Review)
- 25% of companies will have a chief digital officer in the C-suite by 2015 (source: Gartner Digital
- 23% of respondents fear they’ll lose influence in their organizations if they push for a digital transformation (source: MIT Sloan Management Review)
- Only 15% of companies rank in the “most mature” stage of digital transformation, while 65% are considered “least mature” (source: MIT Sloan Management Review)
- Only 14% says they are highly satisfied with the management structure for digital (source: MIT Sloan Management Review)
If you’re in the C-Suite and want to improve your company’s digital competency, consider a Mini-MBA in digital marketing at Rutgers Executive Executive where I teach or a University of California Extension Courses. Or just get in touch with me.
Does this convince you the C-Suite wants to learn digital? Do you think you can teach an old dog new tricks?
