I’m going to go out on a limb here and say something that might be controversial among this crowd, but hear me out.
Technology can only take you so far.
As a guy who spent 20 years selling and implementing technology prior to taking the helm as CEO of Studio Science, I’ve seen time and again how many companies believe that data and technology are their singular gateway to innovation. I used to be the guy convincing them as such. My whole career (prior to Studio Science) was spent finding the right tech so it produced the right kind of data, and then training people so they could get insight off of the data, simply to drive more technology. It was an endless cycle. But this mindset is missing the most important factor: the people.
Don’t get me wrong, technology is still important, and has gotten us to where we are now. Need to put a process in place? Set up a system to track your orders? Need to make sense of your finances? Need to collaborate with a remote workforce? These are low-hanging fruit that technology has helped solve. It used to be that brands and businesses could evolve faster than customers, but now the opposite is true. So while businesses have reaped the rewards of these systems over the last 40 years, it’s now time to ask the hard question of, “How do you keep that forward momentum going?” For me personally, that question is what motivated me to come to Studio Science.
I recently had a discussion with a past Studio Science customer who is big in the automotive world. His core automotive-related business is growing modestly, but he is seeing explosive growth in the construction and industrial industries. We discussed his main challenge is understanding the needs of his customers and future customers in these new industries. Our entire conversation centered around the needs of these new buyers and how he can best provide value that meets these needs. In our conversation, never once did he talk about how he just needed a better automation system or AI powered dashboard. That’s not what this CEO needs. So why do consultancies keep leading with technology?
You may be getting to the point where you want to say, “Yeah, Steve. We get it. We’re entering this age of experience being a value driver, where people are investing in these experiences and the faster a company can identify them the better they’ll be against competition. This is clear, no one would argue this statement.” If that’s the case, let me ask you this: do you know your customers? And do you know the people not buying from you? Do you know what they need, or have you done any research to learn why they didn’t purchase from you?
Traditional consultancies, as they stand, are not equipped to lead a business through this process. Especially tech-focused ones, who get paid to do one of two things – implement technology, or support it. And that’s not their fault, it’s just not core to who they are. They either don’t have the background or they don’t have the interest. As a result, outside of implementing features for you, they lack the ability (or interest) in helping you figure out what your customer needs are, let alone meet them.
Suffice to say, your data isn’t the problem. It’s how it’s being used. Only once businesses put people first, and create real business strategies based on real human insights, can they truly harness the power of the technology they already have at their disposal. It’s instrumental to the success of your business to make people priority number one.
Reach out if you’d like to talk about how, exactly, to do this.