"Cloud isn’t only what you do—it’s also how you do it," writes Mariette Lehto in a new article in Ericsson Business Review on cloud strategy. She notes that in 2015, the size of the cloud market was estimated at USD 125 billion and is expected to reach USD 230 billion by 2020.
With this growth, how can you effectively tap into the cloud game and develop a cloud implementation strategy? Let's look at the recommendations from Lehto, a Customer Unit Principal working with Strategy and Business Excellence in Region Northern Europe & Central Asia at Ericsson.
1. Build on strengths
The cloud market provides diverse opportunities for transformation. Enterprises should carefully select where to play and how to define their target market.
2. Define clear business objectives
Set targets and KPIs, and follow up on progress. In the cloud game, business objectives can be contradictory. It may be necessary to choose between cost efficiency and flexibility. To create impact, understand your underlying business needs and prioritize accordingly.
3. Target and differentiate
Leverage your customer base and experience from other markets. For businesses active across vertical markets, use cloud to springboard into new, specific markets or customer segments, to build competitive advantages and market differentiators.
4. Be perceived as an attractive partner
Partnerships and new ecosystems can lead to capturing new growth opportunities. This is easier said than done—tweaking business models may be needed. How can cloud further your company’s unique differentiators, real and perceived?
5. Leverage operational synergies
Depending on your business, leverage synergies across brand, sales, distribution, customer care, and development. For example, retailers are using cloud to create seamless shopping experiences between both the brick-and-mortar and online channels.
6. Build and maintain agile organizations
These need to be built by motivated and skilled individuals.
To explore these ideas further, please read the entire article by Lehto, Clearing the Fog, which includes her four steps to developing a cloud strategy.