{"id":11974,"date":"2023-03-29T15:55:04","date_gmt":"2023-03-29T14:55:04","guid":{"rendered":"https:\/\/ee.yelkdev.site\/?p=11974"},"modified":"2024-12-10T00:12:26","modified_gmt":"2024-12-10T00:12:26","slug":"you-build-it-you-run-it-3-things-ceos-need-to-know","status":"publish","type":"post","link":"https:\/\/www.equalexperts.com\/blog\/our-thinking\/you-build-it-you-run-it-3-things-ceos-need-to-know\/","title":{"rendered":"You Build It You Run It: 3 things CEOs need to know"},"content":{"rendered":"

Digital customer experience is more important than ever before. To compete in today\u2019s complex economic environment, you need the ability to adapt, transform, and rapidly launch new, compelling digital capabilities before your competitors.<\/p>\n

According to Salesforce\u2019s State of the Connected Customer report, 88% of customers claim the experience a company provides is as important as its product and services<\/a>.<\/p>\n

If that\u2019s not enough motivation, this Forrester research shows<\/a> that customer experience (CX) leaders grow revenue faster than CX laggards, cut costs, reduce risk, and can charge more for their products.<\/p>\n

Basically, CX is critical. Your teams\u2019 ability to deliver compelling differentiators and value for customers\u2014consistently, at pace\u2014will be crucial to your organisation\u2019s success.<\/p>\n

You Build It You Run It<\/a> is the secret weapon that unlocks enormous business potential to give you the competitive advantage. Why?<\/p>\n

Here\u2019s what CEOs and CTOs need to know:<\/p>\n

1. Delays in speed-to-market for digital services are costing you enormous amounts in prospective revenue.<\/h2>\n

\u201cSpeed is the ultimate weapon in business. All else being equal, the fastest company in any market will win.\u201d \u2013 Dave Girouard, Upstart Cofounder and former President of Google\u2019s billion-dollar cloud apps business, Google Enterprise Apps.<\/p>\n

You Build It You Run It can play a significant role in reducing time-to-market when scaling digital delivery. And reducing your \u2018concept to cash\u2019 timeline is proven to drive significant business growth.<\/p>\n

A recent Forrester TEI (Total Economic Impact\u2122) study<\/a> revealed that reducing time-to-market consistently across multiple delivery teams helped customers realise a 123% return on investment.<\/p>\n

Building paved roads<\/a>, adopting the You Build It You Run It operating model and using other techniques to reduce the time from ideation to deployment was the greatest driver of business benefit.<\/p>\n

In the study, using data aggregated from four organisations we\u2019ve worked with, over $41,000,000 of net present value was realised by improving time-to-market.<\/p><\/blockquote>\n

The You Build It You Run It operating model drastically reduces time to market for new strategic digital initiatives. Then, scales that capability across many teams.<\/p>\n

One of the most critical things to do is understand your current time to market and quantify how much revenue you\u2019re losing in opportunity cost and cost of delay<\/a>. Cost of delay is an indicative calculation used to measure and understand the benefits you stand to lose by delaying a decision. It can relate to the delay of a migration, a feature update, or a production deployment.<\/p>\n

Too many organisations have limited ability to deliver innovative digital services frequently, at pace. You may be hampered by slow, complicated processes to move ideas to deployment. Or perhaps you\u2019ve invested in technology that is costly and cumbersome to change.<\/p>\n

Whatever the reasons, decreased speed to market gives your competitors the advantage.<\/p>\n

You only need to ask yourself: how long will you leave millions of dollars of prospective revenue on the table? How long will you let the competition reach your customers with new products, services and offers before you?<\/p>\n

2. Markets are oversaturated and hyper-competitive: innovating frequently is the best way to establish valuable differentiation.<\/h2>\n

\u201cCreativity is thinking up new things. Innovation is doing new things.\u201d \u2013 Theodore Levitt, economist and professor at Harvard Business School.<\/p>\n

Working with enterprise organisations, I notice far too many businesses struggle to offer meaningful differentiation in their digital channels.<\/p>\n

Why?<\/p>\n

Complex, inflexible deployment and approvals processes make it impossible to deliver new market offerings or strategic differentiators at pace.<\/p>\n

And, as we\u2019ve already noted in point 1:<\/p>\n

If you\u2019re not continuously innovating to offer new streams of value for prospective customers, your competitors are.<\/p><\/blockquote>\n

Choosing commercial off-the-shelf software is often seen as a strategy to launch new features quickly. But you\u2019re only going to access and leverage the same features as your competitors.<\/p>\n

You need to build and run digital services in a way that allows flexibility. In a way that meets the needs of evolving strategies or customer needs.<\/p>\n

You Build It You Run It empowers teams to deliver far more features\u2014and more business value\u2014faster and at higher quality. We\u2019ve supported global organisations to move from 10 deployments per year to more than 4,000<\/a>, without a correlating increase in production incidents.<\/p>\n

Are you delivering enough value, frequently enough, to stand out in a hyper-competitive market?<\/p>\n

Learn more about how You Build It You Run It can help you launch new product features to market every day<\/a>.<\/p>\n

3. Poor, unreliable service is poor customer service: You Build It You Run It can reduce incidents, improve availability, and enhance profit protection.<\/h2>\n

When it comes to digital CX, exceptional service is the baseline expectation. Latency is simply not an option.<\/p>\n

In 2006, Amazon software engineer found that Greg Linden found that every 100 milliseconds in service latency cost them 1% in sales<\/a>. In the same year, Google VP Marissa Mayer found that a half-second delay in generating search results caused a 20% drop in traffic<\/a>.<\/p>\n

In 2018, Google shared that as page load time increases on mobile devices:<\/p>\n