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HPMC 2014 - Thirteen tenets of a successful digital business - Acquity group
 

HPMC 2014 - Thirteen tenets of a successful digital business - Acquity group

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Presented during the High Performance Marketing Conference 2014, organized by Accenture on January 23rd, 2014.

Presented during the High Performance Marketing Conference 2014, organized by Accenture on January 23rd, 2014.

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    HPMC 2014 - Thirteen tenets of a successful digital business - Acquity group HPMC 2014 - Thirteen tenets of a successful digital business - Acquity group Presentation Transcript

    • Thirteen Tenets of a Successful Digital Business January 24, 2014 Bob Barr SVP, Acquity Group | Managing Director, Accenture Interactive
    • The Thirteen Tenets 1. Digital Business = Marketing + Sales + Support 2. Know Your Customer 3. Metric the Business & Metric the Experience 4. Lower Margin Business / Lower Cost Channel 5. Experience is Everything 6. Put Your Best (not necessarily a better) Price Online 7. Keep Your Site Safe & Secure / Private & Protected 8. Mind Your Content; Keep it Fresh AND ACCURATE 9. Shoe Strings Break. Hamster Wheels are not Scalable. 10. Nobody Commutes Daily by an Online Business 11. It’s Evolution Before Revolution, but Ultimately Both 12. You Don’t Have a Monopoly on Smarts 13. Organize and Govern for Success Thirteen Tenets of a Successful Digital Business Successful eBusiness ©2013 Acquity Group, LLC. All rights reserved. 2
    • 1. Digital Business = Marketing + Sales + Support + Service It’s about: • Your Brand • Selling Stuff • Servicing Every Business is a Digital Business And it’s about: Omni-channel: Start in one channel, continue in another, finish even in yet another. Right-channeling: Offering the right functionality in the right channels. KIOSK DIRECT WORD OF MOUTH Thirteen Tenets of a Successful Digital Business PHONE TABLET DESKTOP SOCIAL POS ©2013 Acquity Group, LLC. All rights reserved. 3
    • 2. • Know Your Customer Conduct internal and external primary and secondary research. • Benchmark against customer expectations not against your competitors. • Yes, do mind what your competitors are doing. Your Business Competitor A Competitor B What are they doing that you aren’t? Thirteen Tenets of a Successful Digital Business ©2013 Acquity Group, LLC. All rights reserved. 4
    • 3. Metric the Business & Metric the Experience • The Financials • A/B + Multivariate Testing • Channel (+Website) Analytics • Performance + Availability Thirteen Tenets of a Successful Digital Business ©2013 Acquity Group, LLC. All rights reserved. 5
    • 4. Lower Margin Products Belong in Lower Cost Channels • • Commodity Products • Small Orders • Self Service Thirteen Tenets of a Successful Digital Business New Customers • High Margin Products • Large Accounts • Relationship Management ©2013 Acquity Group, LLC. All rights reserved. 6
    • 5. Experience in Everything • Easy to Navigate • Easy to Find Products / Content • Easy to Buy • Easy to Transact • Think B2C • Anything your employees can do, your customers should be able to do (well almost anything). Thirteen Tenets of a Successful Digital Business ©2013 Acquity Group, LLC. All rights reserved. 7
    • 6. Put Your Best not necessarily better Price Online Thirteen Tenets of a Successful Digital Business ©2013 Acquity Group, LLC. All rights reserved. 8
    • 7. Keep Your Site Safe & Secure, Private & Protected • Table Stakes • Reassure, Reassure, Reassure Thirteen Tenets of a Successful Digital Business ©2013 Acquity Group, LLC. All rights reserved. 9
    • 8. • Mind Your Content. Fresh, accurate content matters. © 2013 = Thirteen Tenets of a Successful Digital Business ©2013 Acquity Group, LLC. All rights reserved. 10
    • 9. Shoe Strings Break. Hamster Wheels are Not Scalable. • Invest in infrastructure. Uptime and performance are critical. • Build it once. One experience, one architecture, one platform. • Packages are always faster. • B2B is architecturally more complex than B2C. • B2C is transactionally more demanding than B2B; or is it? • Nobody ever wakes up saying I want to buy a CMS; but they should. Thirteen Tenets of a Successful Digital Business ©2013 Acquity Group, LLC. All rights reserved. 11
    • 10. Customers Don’t Commute by an Online Business Everyday • Your brand is king. • Bricks & mortar = location, location, location. • Online = search, search, search, portal, partner, search, search, email. • It takes push (employee evangelism) and it takes pull (customer value). Thirteen Tenets of a Successful Digital Business ©2013 Acquity Group, LLC. All rights reserved. 12
    • 11. It’s Evolution before Revolution, but both. • Short term quick hits (evolution) & long-term high value (revolution). • Renovate and Innovate. • Front of House & Back of House. • Speed. Make a mistake? Fail fast, recover, then move on. Thirteen Tenets of a Successful Digital Business ©2013 Acquity Group, LLC. All rights reserved. 13
    • 12. You Don’t Have a Monopoly on Smarts • Be prepared for disruptive products AND technologies AND processes. • Beware: Fast following is faster in the digital sphere. Thirteen Tenets of a Successful Digital Business • Engineer (experience and process) expecting change. ©2013 Acquity Group, LLC. All rights reserved. 14
    • 13. Organize and Govern for Success • Frame a clear vision. • Hire the best people. • Give them the keys to own product, process and experience. • Reward them for first and fast failures, and yes, for success. • Make your strategic vendors partners. Thirteen Tenets of a Successful Digital Business ©2013 Acquity Group, LLC. All rights reserved. 15
    • THANK YOU Bob Barr SVP, Acquity Group | Managing Director, Accenture Interactive +1-972-464-4350 bob.barr@acquitygroup.com bob.e.barr@accenture.com www. acquitygroup.com Thirteen Tenets of a Successful Digital Business ©2013 Acquity Group, LLC. All rights reserved. 16