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Digital Transformation – It’s all about the Business By: Thomas Smith (USA), Tahzoo

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Customer experience has become the key differentiator in business today. Companies are struggling to keep up with their customers and prospects given the changes in culture, communication and technology. The path to driving successful customer experiences is centered in a company’s ability to transform itself to keep pace with the world around it. This is digital transformation. As Forrester Research puts it, “digitally enabled customer experiences are no longer a nicety; they’re an obligation.

In this session, Thomas Smith, will cover the 4 pillars of digital transformation; business, marketing, service, and technology. Through real world examples from Tahzoo’s experience with enterprises around the globe, we will take a look at some success stories and some cautionary tales surrounding digital transformation initiatives.

Key takeways from this session:
- Getting at the root cause of the business problem/ opportunity
- Learning how to identify, track and measure business success
- Understanding all the moving parts that need to be orchestrated
- How to determine what technology is needed and how to create a roadmap for investment, implementation and optimization

Published in: Internet
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Digital Transformation – It’s all about the Business By: Thomas Smith (USA), Tahzoo

  1. 1. Digital Transformation – It’s All About the Business Presented by Tom Smith, SVP Industry Solutions
  2. 2. Presenter Bio: • Tom Smith – SVP, Industry Solutions – Over 20 years of marketing & sales experience in large financial services organizations – 10+ years focusing on digital marketing, CX and technology strategies – Product marketing expertise with products ranging from credit cards to 401K products – Passionate about bringing data, technology and marketing strategy together to create transformative customer experiences May 4, 2015 Slide 2
  3. 3. Topics for Discussion May 4, 2015 Slide 3 • Who is Tahzoo • The Pillars of Successful Digital Transformation • Building the Business Case • The Outcomes
  4. 4. We Create and Deliver Contextually Relevant Customer Experiences May 4, 2015 Slide 4
  5. 5. Featured in Forrester Research’s list of top Digital Experience Service Providers Slide 5 Report: Market Overview: Digital Experience Delivery Service Providers, 2015 Selecting a digital experience service provider is a complex and stressful task. In many cases, marketing teams select the service providers and oversee product selection, leaving technology management groups to support and integrate technology solutions for which they don't feel ownership. But with the growing complexity of digital experience initiatives and the need to integrate legacy systems, AD&D pros must get involved. For this report, Forrester will examine the background and capabilities of nearly 50 vendors with significant digital experience implementation practices.
  6. 6. Digital Transformation
  7. 7. Business Marketing Technology Service Successful digital transformations are more than just an IT project
  8. 8. Business Transformation focusses on driving customer centricity throughout the enterprise, aligning goals, tasks and processes, while breaking down silos Best Practice Solutions • Personas & Segmentation • Customer Journey Mapping • Performance Metrics & Analytics • Multi-year Program Roadmap • Invest in Cultural Readiness Business Outcomes  Understand your audiences • Who they are • What interests them • Where and how they want to engage • Who you are  Data-driven Decisions • Connect programs back to the business • Improve market mix investments • Measure behavior you want  Streamline Operations • Diminish Silos • Improve workflow • Increase organizational agility • Align internal goals
  9. 9. Marketing Transformation requires the development and implementation of strategies and programs for creating, producing, delivering, and optimizing contextually relevant digital content based experiences Best Practices Solutions • Content Marketing • Contextual Personalization • Cross-Channel Optimization  Single Brand Experience • Brand compliance • Content relevancy • Agency effectiveness  Improve Performance • Campaigns • Programs • Attribution  Reduce Cross-channel churn • Mobile • Social • Online - Offline Business Outcomes
  10. 10. Technology Transformation includes the implementation and integration of core marketing technologies to include CMS, CRM, eCommerce, and Marketing automation Best Practice Solutions • Enterprise marketing platform architecture • Enterprise CX technology implementation • Rules-based personalization solution  Operational Efficiencies • Reduced time to market • Resource optimization • Lifecycle management  Cost Optimization • Reduced Capital costs • Optimized TCO • Reduced Risk  Less Dependence on IT • Fewer internal resources • Reduced training • Reduced support needs Business Outcomes
  11. 11. Service Transformation targets improving post sale customer experience reducing customer attrition, service costs and customer satisfaction Best Practice Solutions • Dynamic Real-time Knowledge Base • Personalized Contact Center Scripting • Cross-channel alignment  Reduce Customer Attrition • Retain more customers • Retain customers longer • Increase satisfaction  Increase Lifetime Value • Increase purchase frequency • Increase share of wallet • Increase breadth of product purchases  Improve operations • Increase self service • Increase 1st call resolution • Decrease call volume Business Outcomes
  12. 12. Building the Business Case Slide 12
  13. 13. 1. How do you stack up to the competition? We’ve created the Tahzoo Flow Index to measure how you stack up against your most important competitors based on what’s important for your customers Y Axis = Expressed as control, this represents the reduction of friction in the experience X Axis = Expressed as passion, this axis represents the level of engagement with the brand passion control
  14. 14. In a B2B context, the Flow Index measures community engagement and path to purchase
  15. 15. 2. Calculating the ROI opportunity of engagement Tahzoo has created a proprietary methodology by which we can measure and rank different types of engagement Potential Differentiators Table Stakes Drivers of Growth Performance Improvement Priorities Importance Performance
  16. 16. For a B2B2C global manufacturer, the process was 1. Create the ROI data framework against existing and ownership data Create a single data source that focuses on time as the common denominator across all data sources (revenue; KOS; KORE; email engagement; Social engagement) Visualize linked/ correlated trends between revenue and understood customer measures stated above Create statistical links between known & understood client measures and revenue 2. Augment with external data sources: Add recognized social & digital data sources to fill in gaps between revenue and customer loyalty measures Understand client performance against indicators vs. 2 competitors Deliver recommendations on loyalty measures that are key to understanding ongoing ROI of CRM activities Ensure the ROI model is robust and rigorous 3. Establish what we need to do to be best-in-class and meet our goals: Create the appropriate goals & targets to meet revenue and competitive goals Explore the attributes of what it takes to be ‘best-in-class’ to inform the CRM initiative Deep dive into trends, activities and events that drive customer loyalty, developing a strategy from to leverage CRM capabilities Develop ‘moments of truth’ as marketing triggers across the journey of vehicle ownership e.g. event sponsorship
  17. 17. Producing a ROI model establishing the opportunity of the Investment upfront
  18. 18. 3. Creating a roadmap to follow A successful roadmap combines key components • Vision – describing the “nirvana” end state • Methodology – making decisions based on data • Strategy – defining measurable and repeatable business outcomes • Commitment – understanding the scope of the initiative • Milestones – dividing the work into achievable phases • Resources – determining realistic requirements Creating a roadmap, connects the strategy, planning and implementation, producing a clear business plan to follow
  19. 19. A typical roadmap for financial services outlines a maturity progression as well as milestones May 4, 2015
  20. 20. The 3 Key Outcomes Slide 20
  21. 21. A clear vision of what to do, what impact to make and how to measure the results May 4, 2015
  22. 22. A Roadmap to make the vision a reality • Data Architecture • Infrastructure • Hardware • Software • Schema Development • Template Development • Content Migration • Wireframes • Content Inventory • Taxonomy Development • SEO • QA Test • User Acceptance Testing • CMS Launch • Stabilization / Bug Fix • Report Development • Dashboard Design • Reporting & Analysis • Content Management • Archiving • Content Sourcing • Content Tagging • Content Testing • A/B Testing • Multi-variant Testing • Data Support • Hosting • Business Requirements • Content Audit • Web Analytics Baseline • Governance Workshop • Organizational Readiness Workshop • Metrics & KPI design • Web Analytics • Resource Planning • Training • Marketing Strategy Workshop • Multi-Channel Publishing Workshop • Reporting • Web Analytics • Content Compliance • Content Performance • A/B Test Plan • Multi-variant Test Consulting Technology • Envisioning Workshop • Blueprinting Workshop • Content Modeling Workshop • Infrastructure Workshop Sprint 1 Sprint 2 Sprint 3 Sprint 4 Duration 1-2 Weeks 2-3 Weeks 4-6 Weeks 2-3 Weeks
  23. 23. A business case that demonstrates the opportunity to increase the value of engagement
  24. 24. Questions
  25. 25. Take the first step on your journey today Slide 25 Tom Smith, SVP Industry Solutions Toms@tahzoo.com

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