Competitor advantage that used to be delivered with digital enhancement now only manages to provide a fraction of that differentiation.
While software can help clean up processes and make businesses more efficient, this does not always equate to differentiation.
The term “differentiation” and “competitor advantage” should refer to pulling ahead of the competition and utilizing technology in a way that others don’t.
However, with software, these words are now jargon for current “best day practices”.
Here are some other analogies of true differentiation versus best practice:
Some retailers began selling online and, up until just a couple of years ago, ended up light years ahead.
With COVID and the rush to online ordering in 2020, retailers who now decide to start selling online no longer create a competitive edge or differentiating themselves, they are simply catching up.
Some wholesale distribution companies gained competitor advantage by using predictive analytics.
Department stores can compete by the use of data to predict supply and demand and determine which product lines sell best whilst also keeping an eye on competitors.
I would love to hear of any other examples, my friends.