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Michael Cairns
Managing Partner
Information Media Partners
Digital Transformation
Senior Management Seminar Session
2
Introduction
Michael Cairns is a publishing and media executive with over 25 years experience in
business strategy, oper...
3
Information Media Partners
Michael Cairns established Information Media Partners in 2006 as a boutique strategy
consulti...
4
Digital transformation is not….
 a choice
 partial or part-time
 casual or non-committal
 incremental
 about legacy...
5
Digital transformation is about…
 challenging the status quo
 optimizing the value proposition to the customer
 massi...
6
Year 0 Years 1-3 Years 2-4
 Launch digital reinvention
program
 ID opportunities for near-
and long-term cost
reductio...
7
Stage:
E-Commerce
Enabled
Strategy, products,
standards and processes
are aligned with the benefits
of electronic distri...
8
Guiding digital transformation
 Start with vision and purpose:
“When a unified understanding of customers is lacking, ...
9
Committed executive sponsorship
 CEO/Board sets step-change objectives
 Start with vision and purpose
 Shareholders m...
10
A relentless focus on the customer
 Organize around customer outcomes, not legacy processes
 Think ‘audience’, not ‘p...
11
A philosophy of iterative improvement
 Build out core capabilities – establish base
 Customer, product, marketing dat...
12
Technology to facilitate not impede
 Redefine the role(s) of IT from legacy maintenance to
enterprise and customer ena...
13
Technology is increasingly personal
 B2B users are all B2C users: Experiences co-mingled
 Changes behavior of B2B use...
14
Work across silos and collaborate
 Develop digital thinking across the whole organization
 No digital enclaves
 Esta...
15
Skills-based investment
 Adopt broad-based internal training programs
 Change hiring practices
 Revise job descripti...
16
Reward digital progress
 Communicate benefits across the business
 Show how digital works better and easier
 Drive m...
17
Data management
 Product metadata management
 Create product data methodology and center of
excellence
 Customer (CR...
18
Systematically gather and use data
 (Re)define key performance measures
 From basic to sophisticated over time
• Shor...
19
Look outward to market & competitors
 Map competition across sectors by digital
achievement and/or capabilities
 Acti...
20
“Lighthouse” projects
 New initiatives need to be chosen carefully
 Markets where customers are passionate
 Markets ...
21
Establish high-caliber launch teams
 Product launch team(s) under senior executive
(CEO, CDO, CRO)
 Hire and/or train...
22
Please visit my blog for related articles
and presentations:
http://personanondata.blogspot.com/2011
/09/corporate-data...
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Digital transformation: A seminar for senior management

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This presentation represents a full day workshop for senior executives designed to help define and execute digital transformation programs within their businesses.

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Digital transformation: A seminar for senior management

  1. 1. Michael Cairns Managing Partner Information Media Partners Digital Transformation Senior Management Seminar Session
  2. 2. 2 Introduction Michael Cairns is a publishing and media executive with over 25 years experience in business strategy, operations and technology implementation. As a business executive, Mr. Cairns has successfully managed several troubled and under- performing businesses, creating new business opportunities, developing new funding sources and enhancing shareholder value for investors. His years spent as an operating executive have largely been with brand-name publishing companies such as Macmillan, Inc., Berlitz International, Wolters Kluwer Health, Reed Elsevier and R.R. Bowker. As a consultant, Mr. Cairns has worked with clients as diverse as AARP, Hewlett Packard, InterPublic Companies and Reed Elsevier with an emphasis on business strategy, market development and corporate development. His skills and experience include:  Business and corporate strategy development and implementation  Operations management and business transformation  Traditional and digital publishing and operations  Print-to-digital transformation and adoption of new business models  Software development and software services Mr. Cairns holds an MBA (Finance) from Georgetown University and a BA from Boston University. He has served on several boards and advisory groups including the Association of American Publishers, Book Industry Study Group and the International ISBN organization. Additionally, he has public and private company board experience. 2 Michael Cairns Information Media Partners Strategy Consulting New York, London, Melbourne Tel: 908 938 4889 Michael.cairns@infomediapartners.com Find me: LinkedIn Twitter Blog Flickr InstaGram
  3. 3. 3 Information Media Partners Michael Cairns established Information Media Partners in 2006 as a boutique strategy consulting firm focused on the information and education publishing segment. The work conducted by the firm includes product development, corporate development, sales management and corporate reorganizations. We work with established businesses, private equity owners and potential acquirers. Examples of our work include:  Reorganized and re-focused a $25 million software publishing company by aligning business operations with client priorities; implementing internal collaboration tools and project management standards; re-building executive team to focus on effective and efficient management  Defined a new business strategy for a large non-profit association and advocacy group, expanding their business model into global markets to exploit their core knowledge and expertise across a broader market  Led an information technology capabilities review at a large international advertising holding company. Completed over 200 interviews in 15 international offices and multiple group focus sessions to define the operational ‘gaps’ between existing agency capabilities and those necessary and important for client delivery by region  Completed a sales management effectiveness review for a global software company and defined six key project initiatives to improve sales effectiveness, market development and account management We approach our client engagements in a standardized, logical manner which creates the best environment to identify key business drivers, administrative and logistical road blocks and/or product or market definition issues. Our investigative approach leads to better insights into your businesses and supports the development of workable solutions and recommendations for success. Visit the Information Media Partners website for more information. Sample Client List
  4. 4. 4 Digital transformation is not….  a choice  partial or part-time  casual or non-committal  incremental  about legacy systems  about complacency  about risk aversion  without consequences
  5. 5. 5 Digital transformation is about…  challenging the status quo  optimizing the value proposition to the customer  massive changes in process, technology, people, products, customer relationships  experimentation and managing failure  new partnerships, employees, leadership  risk and risk-taking  organizational change and change management  agility and nimbleness  cross-functional, multi-disciplinary work practices
  6. 6. 6 Year 0 Years 1-3 Years 2-4  Launch digital reinvention program  ID opportunities for near- and long-term cost reductions  Set business strategy for revenue growth and migration to digital products/services  Devise and implement e- commerce technical platform  Re-scale/restructure technology platform to accommodate digital production & delivery  Set framework for launch of new e- products and services  Adapt existing products and services to electronic distribution platform  Continually refresh and improve scalable technical platform  Develop and maintain a strategic direction that progressively expands digital transformation across organization  Continually explore and confirm expansion targets -- new markets and new offerings  Enhance the continuous communication link between product teams and customers  Continually update metrics for measurement of company’s leadership in marketplace Staging the transformation Stage: E-Commerce Enabled Digital Enabled Recognized Digital Leader Estimated Timeframe: Project: Build New Products Build Out Core Capabilities Transformative Products and Services
  7. 7. 7 Stage: E-Commerce Enabled Strategy, products, standards and processes are aligned with the benefits of electronic distribution. Recognized Digital Leader Market leading provider of digital-based solutions to core market and capable of leveraging a state-of-the-art technical platform for entry into new markets and new product offerings. Timeframe: Core Capabilities Focus: Same customers and markets, but with improved operations, ordering, communication and reporting. Existing customers and markets, but with better, more adaptable and high-margin products more efficiently delivered. Existing and new markets, with breakthrough products, competitive advantage in the form of editorial development and cost structure, and a significant driver of innovation throughout the organization. A more efficient, customer- responsive organization.  Digital marketing  CRM  Design, UI/UX expertise  Mobile strategy  Data strategy & analytics  Development & engineering  Product management  Client-focused R&D  Core capabilities and HR planning  Lamplight initiatives  Mobile apps (and access)  Payment platform  Access & entitlement  Integrated CRM, MDM  Multiple business models  2nd Generation KPIs  Expanded HR planning  Defined (new) customer journeys  Multi-channel strategies  Single view of target customers  Fully digital value chains: end-to-end provider  Operational continuous improvement philosophy  Sunset ‘legacy’ products  Brand re-focus, relaunch  Seamless integration of acquired products Envisioning digital transformation Year 0 Years 1-3 Years 2-4 PercentageofRevenuefromDigital Digital Enabled
  8. 8. 8 Guiding digital transformation  Start with vision and purpose: “When a unified understanding of customers is lacking, companies struggle to mobilize employees around integrated touchpoints, journeys, and consistent experiences, while often failing to discern where to best place their bets as digital broadens customer choice and the actions companies can take in response.” (1)  Focus on your customers/consumers and their behaviors  Define the right planning horizons to reinvent yourself frequently  Understand and invest in competitive differentiation and advantage  Harness flexible technology effectively  Define and establish new motivation and performance plans  Eliminate operational silos and fiefdoms which impede change and cooperation (1) Culture for a digital age, McKinsey Quarterly, July 2017
  9. 9. 9 Committed executive sponsorship  CEO/Board sets step-change objectives  Start with vision and purpose  Shareholders must have long-term conviction  Avoids ‘back-sliding’ and ‘good enough’ delivery  CEO communicates vision – what needs to be achieved, why and when  Assign senior management responsibility  Make other leaders accountable  Remove blockages  Motivate staff via bonus, financial and other reward programs  Encourage inspired leadership where leaders ‘own’ digital change  Establish reporting frameworks that support constant questioning, revision and adaptation  Aligning organization around ‘digital by default’  Agreement comes from relentless daily engagement  CEO actively interested in all activities  Proactive, disruptive, ambitious
  10. 10. 10 A relentless focus on the customer  Organize around customer outcomes, not legacy processes  Think ‘audience’, not ‘product’  Ask how does this create value for the customer?  Adopt customers into the product-development process: Co-design with users  Use customer feedback to challenge assumptions/mock-ups and build knowledge of customer needs  Establish a deep knowledge of needs, requirements, pain points and objectives  Obsess over customer engagement and encourage continuous improvement in product development  Use marketing actively to engage with consumers, not passively to persuade  Include suppliers and partners in open product development activities  Engaged customers become advocates for the product(s)
  11. 11. 11 A philosophy of iterative improvement  Build out core capabilities – establish base  Customer, product, marketing data management  Agile technology, UI/UX expertise  Data science and analytics  Select initial (Lighthouse) digital product ideas carefully with respect to impact, cost, timeframe, need  Prototype: Make multiple product bets  Test and experiment  Test/plan business models which are experimental  Honor cost of failure and increase speed of learning  Enabling flexibility creates “pure play” opportunity  Setting reporting frameworks that review objectives and results, provide opportunities to double-down or pivot
  12. 12. 12 Technology to facilitate not impede  Redefine the role(s) of IT from legacy maintenance to enterprise and customer enablement  Replace old, inefficient systems  Outsource non-core activities to build flexibility  Seek nimble, flexible and easy-to-use technical solutions  Agility and resilience  Technology in terms of value to customers  Smaller, iterative, focused ‘blocks’ of work  Enable course correction and effective spending in development  Amazon technology practice: “Eat your own dog food”  Open source solutions and “open” by default  Subscription-based models and virtual/cloud-based solutions over self-hosted servers and proprietary software  Limit long-term ‘lock-in’  Third-party provider contracts which vary based on usage/data
  13. 13. 13 Technology is increasingly personal  B2B users are all B2C users: Experiences co-mingled  Changes behavior of B2B users acting like B2C users  B2C users are impatient, dilettantes, passionate, social  UI and UX experience is shaped by B2C media experience  Invest in researchers and analysts to define customer needs  Think audience, not product: be channel flexible  Understand how customers want to consume your content • “What does the customer do immediately 10 minutes before and 10 minutes after they use your product?”  Adapt to the needs of the customer, not to the existing product range  Essential to create multi-media: Text, audio, data and visual assets
  14. 14. 14 Work across silos and collaborate  Develop digital thinking across the whole organization  No digital enclaves  Establish integrated cross-functional teams  Not limited to one department – literally applied and embedded everywhere  Collective wisdom  Catalog and make best use of the digital expertise you have  Establish collaborative tools and share knowledge  Office 365/Google Docs, Cascade, Atlassian, Slack, etc.  Share data, results, experience  Stream training sessions, community events and meetings  Ensure joined-up, comprehensive information systems  Implement fully-integrated business model(s)  Not ‘just digital’  Constraints often cultural, not technical  Silos enable inadequate information sharing, insufficient accountability and lack of coordination on enterprise-wide initiatives
  15. 15. 15 Skills-based investment  Adopt broad-based internal training programs  Change hiring practices  Revise job descriptions  Distribute decision making  Avoid top-down management decision making  Enable cross-functional and cross-business small team-based initiatives  Provide ‘at point-of-use’ tools & data for decision making  Think and act like a start-up  Enable learning culture  Lunchtime talks on benefits of technology tools  Encouraging staff to ideate and provide mechanism to contribute  Establish internal venture fund  Encourage quick decision making via agile project management practices  Acknowledge mistakes, learn from them, rapidly fix them with alternatives  Agile approach can facilitate a ‘culture of experimentation’
  16. 16. 16 Reward digital progress  Communicate benefits across the business  Show how digital works better and easier  Drive motivation for digital  Encourage people to think about how digital creates improvement  Open decision making where all staff can participate  Simple as daily ‘stand-up meetings’  Tools and information at point of contact to encourage decision making  Tough problems can be effectively addressed by small, focused teams
  17. 17. 17 Data management  Product metadata management  Create product data methodology and center of excellence  Customer (CRM) and marketing (MDM)  Secure data program  Data to drive product improvement and new product development  Performance and users  Metrics which catalog activity and the impact of changes and improvements  Social application interfaces
  18. 18. 18 Systematically gather and use data  (Re)define key performance measures  From basic to sophisticated over time • Short-term growth milestones • Specific measures for digital transformation/digital adoption • Measures for the impact of digital change  KPIs impose themselves over time helping to navigate and define road maps  KPIs represent the coordinates of user behavior  Data as a strategic asset (2)  Have a data strategy  Have a data owner  Data which is consistent, comprehensive, clear (2) Corporate Data Strategy & the Chief Data Officer
  19. 19. 19 Look outward to market & competitors  Map competition across sectors by digital achievement and/or capabilities  Actively engage competition  Apply experience from different industries  Create value through platforms and networks  Understand and invest in differentiation and advantage  “Best in breed” benchmarking  Build global awareness  Seek partners to build virtual scale
  20. 20. 20 “Lighthouse” projects  New initiatives need to be chosen carefully  Markets where customers are passionate  Markets where decisions are expensive  Investments linked to clear achievable targets  Rank success, opportunity, benefit, timeframe, costs  Initial projects offer significant rewards with manageable risk  Targets help prioritize benefits of initiatives  Targets make things clear and can drive transformative change  External benchmarking can support target definition  Setting ‘step-change’ targets early on guards against ‘good enough’ and regression
  21. 21. 21 Establish high-caliber launch teams  Product launch team(s) under senior executive (CEO, CDO, CRO)  Hire and/or train designers, data scientists, scrum masters, developers  Expect to hire 10-50 new people for initial products  Explore “Acquhire” opportunites with M/A activity  Aggressive on price and justify with added features, content, functionality, etc.  Launch teams hand over products to ‘core’ product groups over time
  22. 22. 22 Please visit my blog for related articles and presentations: http://personanondata.blogspot.com/2011 /09/corporate-data-strategy-and-chief- data.html Michael Cairns Managing Partner Michael.Cairns@InfoMediaPartners.com 908 938 4889 LinkedIn Twitter Blog Flickr InstaGram

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