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Understanding the Different Generations in Digital Transformation. Author: DearMedia. Download from SlideShare ▽ http://adf.ly/1LdTcG You have undoubtedly heard countless references to Generation Z, Millennials, Baby boomers, etc. and how these different generations approach digital, but what does this really mean for your business? How do you keep attracting all of these people to your offering now that some people shop online more and visit less stores, while others don't use modern technologies. This is a complex problem both incumbents and challengers are facing in every industry. We believe all companies need to address this problem during their Digital Transformation, to avoid losing important demographics to their (new) competitors. Here is our take on how you can do that. You need to seriously consider your own Digital Transformation to prepare your business for the future. Check out our book on Digital Transformation or contact us to advise your business, we can help you. Transcript of "Understanding the Different Generations in Digital Transformation": 2. This is one of the many complex problems your organization faces today. You have to address this problem during your Digital Transformation, to avoid losing important demographics to your (new) competitors. 5. “We should study the effects of mobile on our millennial demographic!” “Shouldn’t we include Generation X?” What people talk about in business 6. GENERATION WHAT… DOES IT MEAN FOR MY BUSINESS? 7. Age does not define how digital savvy you are Spotify, Snapchat, Netflix, Airbnb Physical age DOES NOT define digital savviness 8. Age is whatever you think it is. You are as old as you think you are. - MUHAMMED ALI 10. “What I have works fine, I don’t get all this Internet stuff.” 1. CLASSIC GENERATION A mentally older generation that will not go digital soon Makes you stretch the traditional business model 11. “I like some of this digital stuff, I just need someone to show me.” 2. CONVERTED GENERATION Slowly getting involved with digital and embracing it Expect digital to be a translation of the traditional services 12. “I can’t imagine my life without being connected.” 3. Still knows old business models but rapidly adopts new ones Constantly looking for better experiences 13. “Why can’t I swipe?? I don’t want to wait!” 4. RUPTURE GENERATION Raised with new concepts that are the norm Expect everything when and where they want it 14. How do you work for all of these generations? How can you fulfill all of their expectations? 16. Their preferences vary so much that they require different approachesdifferent approaches 18. DIGITAL TRANSFORMATION … TOFROM … Our advice: Don’t go all-in on one generation. The future of each traditional company is to evolve from a monolithic approach to an ecosystem consisting of complementary/competing businesses. 19. Our advice: Don’t go all-in on one generation. You will still focus a lot on the “mothership” to keep it profitable as long as possible, but you will have the opportunity to innovate for new generations. 20. What is happening today CLASSIC CONVERTED DIGITAL RUPTURE Influence Where the digital investments are focused, but this is mainly fixing the basics Where the real innovation is happening and more investments are needed Where most of the money is 21. Traditional players Only a small part of their business is focused online, where they are mainly “fixing the basics”. They still work with a traditional business model (even in digital) to focus on the classic and converted generations. They struggle to draw in the through new business models and ideas. 22. Digital challengers Digital challengers have the majority of their business focus online, with new innovative business models that capture the digital and/or rupture generations. They are also moving offline in their own way, to attract as much of the wealthier Converted and Classic generations as possible. 23. Digital challengers May the best team win ;-) CLASSIC CONVERTED DIGITAL RUPTURE Traditional players Make sure to subscribe to my channel if you liked the video! Music Supplied by NoCopyrighSounds: Artist Name: Cormak - Flavors [NCS Release] Video link: • Cormak - Flavors | Future Bass | NCS - Cop... ▽ Connect with NCS Facebook / nocopyrightsounds Twitch / nocopyrightsounds Twitter / ncsounds Spotify http://bit.ly/SpotifyNCS SoundCloud / nocopyrightsounds Google+ http://google.com/+nocopyrightsounds Instagram / nocopyrightsounds_ ▽ Follow Cormak SoundCloud / cormakofficial Facebook / cormakofficial Twitter / cormakeu