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Leveraging the StoryVesting Framework to Achieve Breakthrough Business Transformation

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Business transformation happens when you're able to provide impactful experiences both to your customers and to your employees. StoryVesting is the framework that guides you to that goal, but if you're looking for a basic roadmap, this isn't for you. This framework is steeped in intelligence, behavioral economics, and journey analytics.

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Leveraging the StoryVesting Framework to Achieve Breakthrough Business Transformation

  1. 1. Leveraging the StoryVesting Framework: How to Achieve Breakthrough Business Transformation
  2. 2. The need to pivot and grow is nothing new, but it is newly relevant. Businesses have always needed to transform to survive over time. But Business Transformation without a guiding framework is equivalent to guessing, and just as likely to lead to success. The Need For a Business Transformation Strategy. Business Experience Framework Customer Experience Framework
  3. 3. Business Transformation on the S-Curve. The S Curve of Business Growth Digital Disruption has made intelligent transformation more crucial than ever. In the past, companies would experience approximately one inflection point every 10 years. Nowadays, the S-Curve of Business is becoming more condensed and businesses are experiencing strategic inflection points every two years. Strategic Inflection Point Inflection Points Vary If You’re Growing You’re Shifting Sustain Forward Momentum Scale Growth Start
  4. 4. Each Inflection Point is a turning point for your business but the turn could be for the better or for the worse. To make the best choices at these critical times, all business transformation should be guided by data extrapolated and interpreted, but you can’t stop there. Transforming Successfully with Data. A Closer Look at Inflection Points Matrix
  5. 5. The extrapolated data needs to be run through a framework, and heavy predictive analysis. This kind of healthy transformation is the cornerstone of progress within any business. It isn’t a disorienting major shift or abrupt redefinition; instead it’s about honoring and answering a natural progression toward growth Transforming Successfully with a Framework. Using a Guiding Framework StoryVesting Framework
  6. 6. A good framework covers multiple layers and nuances. Like a pocket watch, it has a very understandable surface layer, but requires multiple intricate parts below the surface that overlap and work in perfect unison to work. We at RocketSource built our framework based on a long enlightening journey of data collection... An Intelligent Business Framework. Key Components to StoryVesting Product/ Market Fit Internal Buy-In Brand Alignment Amazing Buyer’s Journey
  7. 7. Without the proper framework, your business could end up failing like 70% of business transformation projects. As an example, Blackberry tried to keep pace with the iPhone by adopting a new design, but they repeatedly missed the mark. Their attempts at iterating on their phones were headed in the wrong direction because they didn’t take a user centric view guided by a framework. Transformation Without a Framework.
  8. 8. I always had an insatiable curiosity, especially about what made people successful. In the process of pursuing the secret to success there were many times I had to readjust what the word meant to me, and several times I found myself nose to nose with CEOs of SME 500 companies, asking the same three questions. Questions On Success: Hunting the Secret to Success.
  9. 9. In the course of collecting 1,969 responses to my questions on success I was able to pull out some interesting realizations. The most valued traits for hiring wasn’t an ivy league education lie I’d thought, and when I asked who exemplified traits of success, people often named people who worked in departments below their own. Demographic Data: Total Responses: 1969 Organizational Traits That Drive Transformation. Marketing Total Responses: 1969 JOBTITLE Matrix Finance & Accounting Other C-Suite IT Customer Support Operations Sales HR Technology
  10. 10. Of everyone I interviewed, 63% of people pointed to the business’s vision as a key driver for organizational transformation. I also noticed 3 other common responses that each pointed to one thing. It was the people within that organization—the ones carrying out the vision—that led the company to success. Success Didn’t Look Like What I’d Envisioned. StoryVesting Research Methodology: Most Important Business Drivers Most Important /Valuable Drivers Dependable Passionate Collaborator Strong Work Ethic Positive Environment Motivated
  11. 11. Carol Dweck’s theory on growth and fixed mindsets played a major role in realizing the importance of people in business transformation. Fixed Mindsets: are set in the idea that they only have so much potential and ability to learn. Growth Mindsets: believe that they have limitless potential to learn and grow as a person. Having Growth vs Fixed Mindsets. Credits: The Stanford Daily
  12. 12. Your people are the driving force to any transformation. With growth-minded, vested employees companies can make mediocre ideas into first class innovations. Good transformation teams are also V-shaped, with members skill sets spanning several areas and overlapping with their team members. Well Rounded Employees. V-Shaped Teams
  13. 13. Throughout my research, I continually came back to one core theme—the importance of having vested people on board who were passionate about the company’s story The realization of what it meant for employees to be Vested, and the importance of having Vested employees on your team informed how the Business centric side of StoryVesting came to be. The Vested Employee. Business Experience Framework
  14. 14. The Customer Centric side of the StoryVesting framework was built out based on a number of influences: ● Reactions in the Brain ○ The Limbic System ○ The Neocortex System ● Consumer Behavior. ● Cognitive Association. ● Cognitive Dissonance A Customer Centric Framework. Customer Experience Framework
  15. 15. Brands in every industry are exploring new ways to reach out to consumers. Years ago, online marketing often boiled down to search engine tricks. Today, it’s all about creating articles, ebooks, reports, podcasts, videos, and other tools to educate and earn buyers’ attention. The Incredible Brain: The Limbic System. The Brain’s Emotional Response Center
  16. 16. Brands in every industry are exploring new ways to reach out to consumers. Years ago, online marketing often boiled down to search engine tricks. Today, it’s all about creating articles, ebooks, reports, podcasts, videos, and other tools to educate and earn buyers’ attention. The Incredible Brain: The Neocortex. The Brain’s Logical Response Center The Brain’s Logical Response Center
  17. 17. Brands in every industry are exploring new ways to reach out to consumers. Years ago, online marketing often boiled down to search engine tricks. Today, it’s all about creating articles, ebooks, reports, podcasts, videos, and other tools to educate and earn buyers’ attention. How the Limbic System and Neocortex Work Together.
  18. 18. The complex reactions this customer went through in the course of making a car purchase is best categorized by the rhetorical triangle. The rhetorical triangle categorizes persuasive strategies into three main categories: Ethos (credibility appeal), Pathos (emotional appeal), and Logos (logical appeal). Consumer Behavior and the Rhetorical Triangle. The Rhetorical Triangle
  19. 19. Keeping the ethos and pathos reactions of your customers in mind is more important than ever. A study by CustomerThermometer found that consumers are 65% more likely to buy from a brand if they feel like the company cares about people like them. It is important to make sure you’re utilizing that connection to understand your brand’s cognitive association. Customer Behavior and Loyalty. 10 Factors to Consumer Loyalty
  20. 20. Cognitive Associations that consumers have with your brand play a big role in the complex process of the buyer’s journey. In 2013, Dove was seeing a huge boom in sales due to its Real Beauty Campaign ads, and how those ads capitalized on a confidence building brand association. Do You Know the Cognitive Association of Your Brand? Dove Soap Sales You can find their ad here: https://www.youtube.com/watch?v=litXW91UauE
  21. 21. On the other hand, if your business decisions contradict your brand associations it can cause dissonance for your customers. For example, in 2017 Dove released an ad that consumers considered racially insensitive, and the dissonance it caused had a drastic effect on their brand sentiment. To avoid working against your brand association, it’s important to utilize a solid transformation framework. The Power of Dissonance. Dissociative Ad Released OnlineScores July - December 2017 Dissociative Ad Released Dove Online Trends
  22. 22. The Customer Experience analyzes the specifics of what customers go through in their journey with your brand. Using the sides together, you can measure alignment. These Customer Insights Completed StoryVesting. The Business Experience side of StoryVesting guides decisions for better transformation with data insights. It also structures your business to build and encourage vested employees. Customer Experience Framework Business Experience Framework
  23. 23. As powerful as the circles can be separately, together they lead to further insights. When you can achieve business alignment between your business why and your customer’s why you capitalize on all the benefits of alignment such as strong brand association and brand recall, as well as strong customer loyalty and return buyers. Customer Centric Framework: Alignment. No Man’s Land Excellent Brand Euphoria
  24. 24. There's a slew of remarcable brands out there who take care to align with their customers, and they all reap significant benefits. These brands shown also represent a good use of the Business Experience Framework’s individual elements. Using StoryVesting.
  25. 25. Like all good frameworks, though, StoryVesting can do more than help things on the front end. Our versatile framework also helps with the nuances of running your business intelligently. With StoryVesting you business will be able to put data to better use and run data looping processes more efficiently. An Intelligent Framework. Data Looping Process
  26. 26. Data aside, running an intelligent operation can be nearly impossible to accomplish without a framework. In modern organizations, there’s a multitude of different departments that all need to be aligned and in communication. An Intelligent framework is the best way to hold them all together. Running an Agile Operation. Modern Organizational Structure
  27. 27. By breaking out a framework like StoryVesting you can get a better 360° View of your organization. With a tool like this, you can compare departments across the front and back end of your organization and better manage all of those various departments to reduce silos. Using StoryVesting. Business Experience Framework Customer Experience Framework
  28. 28. Insulate your business from disruption. Learn more at RocketSource.co

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