1 sap hybris cec_3_dec2015_v1
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The digital revolution means companies must reinvent themselves to stay relevant. As the average company lifespan decreases, businesses must get closer to consumers through digital channels. While physical and digital experiences are blurring, most companies cannot yet provide seamless omnichannel journeys. To engage customers, companies must digitize the entire customer experience and transform their operations, technology, and business models to focus on digital. Those that put the customer first and lead in experience will see greater financial returns over time.
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1 sap hybris cec_3_dec2015_v1
- 1. WHAT DOES THE DIGITAL REVOLUTION MEAN FOR YOU? Roland van Breukelen Director, EMEA Centre of Excellence, SAP hybris @rolandvb
- 3. AVERAGE AGE OF COMPANIES: Today – 15 years 2017 – 12 years 1920’s – 67 years
- 4. UNDER ARMOUR, Largest food preference database in the world, Produces no food. DOLLAR SHAVE CLUB, Shave as you go with additional bathroom products upsell WARBY PARKER, Combining physical and digital. Try eyewear on at home. Re-Invent
- 5. CLOSER TO THE CONSUMER Millennials: 1.6x more likely than Boomers to use digital channels to discover new Products 2.7x more likely than Boomers to use their mobile phone regularly for in-store payments Source: Facebook Insights
- 7. DATA IS THE FUEL TO OPTIMIZE CUSTOMER EXPERIENCE AND BUSINESS RESULTS.
- 8. THE MAJORITY OF BUSINESSES CAN’T SUPPORT AN OMNICHANNEL CUSTOMER JOURNEY. JUST 12% CAN PROVIDE A SEAMLESS HAND-OFF BETWEEN CHANNELS. SOURCE: Forrester Wave Customer Service Solutions 2014 CUSTOMERS ARE HARDER TO ENGAGE
- 9. DIGITIZE END-TO-END CUSTOMER AND CONSUMER EXPERIENCE @ digital goods emaildigital adsweb In store/branch contact center printmobile socialmarketplace Search kw/ads agent tools IoT sms/ notifications Re-Wire
- 10. What does the digital revolution mean for you? Re-Think Global digital markets / consumer Value chain Understanding digital customer Vision Re-Invent Process digitalisation New digital business model Digital customer interactions Strategy Re-Structure Digital supply chain Go to market model Channels to customer / touch points Operations Re-Wire Digital ServicesDigital Technology Digital Architecture Execution
- 11. SOURCE: Watermark Consulting & Forrester Research 107.5% 72.3% 27.6% CUSTOMER EXPERIENCE LEADERS OUTPERFORM THE LAGGARDS EXPERIENCE IS THE COMPETITIVE EDGE 8-Year Stock Performance of Customer Experience Leaders vs. Laggards vs. S&P 500 (2007-2014) S&P 500
- 12. “Within 15 years technology will exist that will allow human brains to be connected directly to the internet." Source: International Business Times, Ray Kurzweil: Human Brains Could be Connected to the Cloud by 2030
- 13. WHAT DOES THE DIGITAL CONSUMER REVOLUTION MEAN FOR CONSUMER GOODS? Roland van Breukelen Director, EMEA Centre of Excellence, SAP hybris @rolandvb
Editor's Notes
- Digital provides a tremendous opportunity around 4 themes: Re-think, Re-invent, Re-structure and Re-Wire and this presentation will provide context to these 4 themes.
- Time to re-think your vision for companies - Digital Darwinism - The impact of enablement? Since 2000, 52 percent of the companies in the Fortune 500 have either gone bankrupt, been acquired or ceased to exist – Talk: Fortune 500 typically most reliable companies in the world – Digital darwinism is unkind Rapid pace of change is impacting business
- Average age of a company in 1920’s was 67, last year is was 15 and we expect that to drop to 12 –
- Re-Invent business models, etc Disrupters appear especially during recessions - In the digital economy kids can be dangerous – e.g. Uber, Facebook, AirBnB, Alibaba What do they have in common – all digital businesses. How did they use digital – to be closer to the consumer
- SUCCESS IS about being closer to the consumer. Where are these consumers – on their devices Social example – Twitch.com – online gaming where people watch gamers – average screen time is around 120 mins – How to reach this audience – with the right context
- Re-structure your organisation to get closer to the consumer – in this case Nespresso decided to go direct to customer. Back to the previous point, because the lines are blurring the experience online will influence the customers’ perception in-store and vice versa
- Customers are leaving a digital finger print when ever they interact through digital channels and traditional CRM systems are longer enough to be able to cope with the volume and velocity of data 81% of companies surveyd receive Strong ROI on customers that use “first party data”
- Last 10 years investing in “first to channel”, the battle now is to provide a consistent experience through the channels Now you need the channels and insights to come together to deliver differentiate Why focus on “context”? Differentiate Why are customers harder to engage? They are less tolerant of poor service, poor experience – How to solve this, we believe it is about context – this means that each channel requires awareness of the other channel, no longer good enough to have “first to channel” but a consistent experience across channels. Take-away: We have a message that has 88% relevancy (& potential demand) in the market. What is it worth?
- Rewire your business - Experience management across all channels Capabilities to execute in core customer facing areas Insight and data consistency to provide personalisation – PCM multiple brands on single platform / CDM Scalable foundation Talk through role of “data management” tied to execution platform. So as a consumer they may start on mobile, move to online, query your brand on social, all to make a purchase - distributed order management? consignments? Real Time Enterprise inventory - ship-from-store, etc – consumers just wants what wants.
- It’s an analysis done by Jon Picoult of Watermark Consulting, who took five years of data from Forrester’s Customer Experience Index and constructed two model portfolios. One is a portfolio of the top 10 publicly traded companies in the index (customer experience leaders), and one is a portfolio of the bottom 10 publicly traded companies in the index (customer experience laggards). You can read details of how Jon conducted his analysis in our new book, Outside In, and in this post on Jon’s blog. The results are striking. Over the course of the five-year period, the customer experience leaders spanked the laggards in stock performance. The leader portfolio had a cumulative total return of +22.5%, compared with a -1.3% decline for the S&P 500 market index and a -46.3% decline for the laggard portfolio.
- Something to think about – I’m 40 which means during my working career this could happen – how does that impact marketing!