Digital wormholes are full of accelerants that vastly reduce the time it takes any company to enter a new market. Start-ups have utilized wormholes to great advantage, putting their larger competitors on notice. Goliaths can and should be using wormholes for equal advantage.
DOWNLOAD DIGITAL WORMHOLES ACCELERATE MOVE TO NEW MARKETS [PDF]
Not all accelerants are created equal. Among the most impactful we see are digital platforms for market research or payments, cloud-driven customer service and third-party logistics providers.
Businesses should use a wormhole for what it offers in speed to market—but when they arrive in that market, digital accelerators are just a few of the tools they must use for ultimate success.
Ironically, even though digital wormholes foster globalizing a business or product offering, our research shows two very old-school techniques—localization and an offline presence—remain key to business success.
Large organizations need to use wormholes more regularly. But, digital wormholes alone are not enough—organizations must also eliminate red tape culture and ideate like a disruptor. Drastic challenges will make them entertain solutions that may have previously not seemed feasible or possible.
Disruptors cannot rely on wormholes alone either. They need to partner locally and establish a strong offline presence to compete more strongly with established, larger companies.
Whether the established Goliath or the challenger David, wormholes are a key element to a broader plan when entering new markets. One, however, that can catapult your path to profits.
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Gregory K. Douglass
Senior Managing Director – Accenture Strategy, Communications, Media & Technology
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Joey Hwong
Senior Manager – Accenture Strategy,
Communications, Media & Technology
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