Disruption in the marketplace does not happen because of new technologies, as Vivaldi’s founder and CEO Erich Joachimsthaler explains, but rather because consumers now adopt new technologies at an exponential rate. These technologies enable, empower, and connect consumers, facilitating disruption.
To understand how behavior today changes in the future, you have to reimagine how you create value in the lives of consumers down the road. New value can only be created by changing the organization’s culture, strategy, and operations. Further, organizations must scale themselves to the speed of their changing environments.
Organizations looking to create disruption must create different expectations for their customers. Take taxi companies, for example. In the face of Uber, these companies must create a different customer expectation and fundamentally change to create value for their customers. Disruption must change how consumers receive value.
Organizations need to use disruption to not only create a brand, but also a brand promise. They need to promise their consumers added value in exchange for their expense, as Uber promises their customers convenience in exchange for their data. This brand promise will allow you to create value as you approach disruption.
In disruption, most people look to their competitors, but this is not how you win. Instead, you need to understand where it is that consumers’ money is going. That is how you win.