Digital Business Transformation in a Customer Obsessed World: Why being customer obsessed can transform your company into a digital business.

179 Pages·2014·1.68 MB·English

by  Michael, Wilson

Digital Business Transformation in a
Customer Obsessed World
Why being customer obsessed can transform your
company into a digital business.
By Michael Wilson
CONTENTS
Introduction
Be Transformative
Build a digital Business Ecosystem
Obsession with Customers
Transformation requires Being Focused
Transformation won’t be easy. In fact, it will be hard!
What is the return on the investment in the stunning?
What is at stake?
Focus your changes on engagement and not technology
Your journey to change and transformation
People
Transformational leadership is needed and it is needed now
Is it about checking the box called training or is about learning?
Do you have a talented user experience team?
“Without courage, compassion falters. Without compassion, courage has no
direction.” ~ Eric Greitens
As a leader, what should you stop doing today? Here is a good list
How great leaders inspire action
Are we denying the facts?
Employee Engagement
Make employee engagement a key metric
Customer Experience Focus and Obsession
Why being obsessed and focused improves transformation
Our customers are empowered and we can’t control that
Why Customer Experiences should be intentional
Why should I invest in improving the Customer experience at my company?
Define relevance by how relevant the experience is
Your passion for your mission and your customers can turn you into a hero
Get ready for a new generation of customers
Widen your view from generations to connected customers
Now is the time to make different decisions
Is the connected customer distracted or engaged?
How important is the moment where a customer decides to engage?
How do your company moments of truth look?
Stunning experiences will lead the way to meaningful customer engagement
Improving the customer experience so as to never fear it being shared
Is customer experience an art or science?
Do lapsed donors see themselves that way?
Customer engagement is not about voodoo
Are we witnessing the “last breath” of the customer sales funnel?
Meet the new company customer
How text analytics can shape Voice of the Customer programs
In the age of communities, how important is our company brand?
Who let the air out of the balloon?
Is your marketing strategy as a non-profit one about tote bags?
Digital Business
Why Executives should care about Master Data Management (MDM)
Unifying Online & Offline Customer Data for a Consistent Experience
This is an ecosystem built for data, insight and action
What data should we collect
The value of offline data
Understanding the customer
Unifying the data
Unifying the experience for the customer
Doing something about the data, insight and customer experience gaps
Creating a customer value framework
Do you need a multi-channel messaging strategy?
An “Omni-Channel” approach
United Way of Greater Atlanta and 2-1-1 – Call, Click, Connect
Connecting the Goodwill mission with an amazing web experience
Do you suffer from Social Media FOMO?
Act like you are a global company
Goals, Strategies, Planning and Execution
Approach (Strategy, People, Process, Technology)
Goals are lagging indicators
Create SMART goals before developing strategy
SMART goals are specific
SMART transformation goals are measurable
SMART goals are attainable
SMART digital goals are relevant
SMART transformation goals are time-bound
Strategy (Leading Indicators)
Scoreboard and Dashboards
Accountability
Project questions to start with
Process
Using an Agile delivery
How to innovate for mission relevance and financial growth
Do you have an innovators heart for your company mission? Where is the
sense of urgency
How do you combine technologies to innovate?
Is the percent of revenue devoted to R&D indicative of innovation?
Ask Apple.
Technology
Technology won’t save you
How You Think About Big Data For Cyber Security–And What You’re Doing
About It–May Not Agree
A Strategic Approach to Digital Disruption: Cyber Security is a key
component for successful digital transformation
Stolen emails reveal lapses in Sony security practices. Is your company safe?
Cyber security breach turns into cyber litigation
Cybersecurity a major concern in C-suites after Sony hack. Are you ready?
The anywhere office
Breaking Down the Net Neutrality Debate
Where’s the walls now to your office? Not so clear anymore … is it?
How did being on-line change things for you as a digital executive so far
this year?
Who are the biggest bandwidth hogs?
Computers are learning to be our assistants
How secure is Cloud computing?
Final Thoughts
Your journey to change and transformation
Investments need to be made
It is a lot more than saying “We Need to Change”
INTRODUCTION
BE TRANSFORMATIVE

Digital business
transformation is about
making fundamental changes
in how business is conducted
in order to help cope with a
shift in environment. The
shift has occurred. The shift
is becoming a digital
business. The approach should be about transformation.
What is happening in many cases is that we are adding racing stripes to a 20 year
old Chevy and think we now have a race car. We don’t have a racecar. We still
have a 20 year old Chevy that looks fast but isn’t.
The first thing is to recognize is that there is a “burning platform”. This is a
decision by the CEO and the C-Suite that the business must be different to
survive. Without that fundamental vision at the highest level, complete
transformation can’t occur. Incremental gains can be made by others but true
transformation has to be owned by the most senior of senior management.
“Your company is likely to face an extinction event in the next 10 years.
And while you may see it coming, you may not have enough time to save
your company.” ~~Nigel Fenwick, “The Future of Business is Digital”
And here is more from a recent study by MIT Sloan Management Review and
Capgemini Consulting.
“ A study by MIT Sloan Management Review and Capgemini
Consulting finds that companies now face a digital imperative: adopt
new technologies effectively or face competitive obsolescence. While
there is consensus on the importance of adopting digital technology,
most employees find the process complex and slow. Many say their
leaders lack urgency and fail to share a vision for how technology can
change the business. Companies that succeed tend to have leaders who
share their vision and define a road map, create cross-organizational
authority for adoption and reward employees for working towards it.”
~~ Michael Fitzgerald, Nina Kruschwitz, Didier Bonnet and Michael
Welch
What we need to do is to envision the digital future of your business. Without a
compelling vision of where you are going and why it is imperative, you will
probably be painting race stripes on a 20 year old Chevy. What assets will be
valuable in a digitally-transformed business? How can you transform customer
experience? Internal operations? Your business model? How can units work
differently – and work together differently – in a more connected way?
Look at the media industry. It has been completely transformed by digital
technology. It is now happening, at various speeds, to the rest of our
commercial, nonprofit and government world. Everyone is experimenting.
Everyone is tinkering. Some are putting their toes in the water. A few have
jumped in and find they aren’t drowning. They are reaping huge results.
A central question to answer as a digital executive is "Is my company ready to be disrupted?"
Critical to this question is the premise that you are going to be disrupted fairly radically if you don't get
ready. Do you personally believe a "radical change" is happening now? Of course, if you don't believe that,
no need to ask the question.
If you do believe it could happen, it is well worth getting away from the office to consider what to do very
soon to avert it. Taking the time to have a serious answer might make all the difference in success or failure
three years from now.
The next question is this. If you or your company isn't ready, what should you do about it? It is important to
think through what you personally should do as opposed to what "the company" should do. You can control
your plan. You can only influence the corporate approach.
The answer will set your agenda for the next six months.
Let the transformation begin.
“A radical change is happening. B2B and B2C are being overtaken by P2P—people to people.
Companies that ignore it are taking a big risk.” Ray Wang, Principal Analyst, Founder and
Chairman of Constellation Research
via Annual Report 2013 | Capgemini Worldwide.
Transformation is occurring. It can’t be escaped. It is about how people
collaborate and work. It is about the way business processes are executed. It is
most certainly about how we understand our customers and obsess about the
experience. It is about how we use digital technology to radically shift how we
provide amazing experiences for our customers. It is radical and it is now.
Customers are in charge. That is a profound shift. At our core, do we get that
shift? There is a convergence of customers being in control and our designing
experiences that easily help them reach their goals. What if we don’t? They will
let everyone know about it and go somewhere else. It is that simple. Do you see
it coming?
As senior managers, you alone possess the skills and resources to make it
happen. You can decide to transform and survive or you cannot. No one else can
make that happen. It is up to you to create the vision.
It is up to you decide who is “on the bus” and who is not. Here is the tough
thing. Not all of your people and senior management gets “it”. To assume
otherwise will hinder you. You need to decide who is on board and who is not.
You need to get those who are not on board off the bus, as gently as you can, but
as soon as possible. Delay will only hinder you and you know it.
Your desire to strive to digital maturity and make it happen is something that
really matters. You need to make sure there are targets for progress, they are
well known and they are met. That cannot be delegated.
Communicating the vision can’t be delegated either. It is up to you to take a
stand. It is up to you to communicate it. The message needs to get through and
no one else can do it. Do develop a serious communication plan. Make sure that
it is followed.
You have to decide that monitoring engagement with the vision is measured. If
you don’t decide that, who else will? You have to decide to iterate the vision,
goals and strategies. You have the starting point but others will add and enhance
what you start with. Setting up an iterative process gains commitment and value.
Just remember to not let people wander off into unfertile territory.
Having started with a great vision, goals and strategies, you have to make
investment decisions. Again, no one else can do that for you. You have to decide
what the priorities are and fund them. Only you can cut across silos and
departments to integrate the work. You have to coordinate digital initiatives that
radically transform traditional operational initiatives. The keepers of the silos
will not think that way and it is unreasonable to think they will. You have to do
and you will have to force some of the funding in spite of what others may think.
You will have to decide what the KPI’s and metrics need to be. Others can
inform that but you must agree and sometimes disagree with what the levers are
to get you to make progress on your goals and strategies. You have to decide
what the reasonable timeframes are to make progress. Shorter timeframes are
better. That will help your people focus. You need to decide what is the process
you will use to make necessary adjustments. Adjustments will need to be made.
Assuming otherwise has you blindly executing initiatives that get off track.
All of this needs to start with the C-Suite. Others will support the effort but
without the CEO vision and commitment, transformation will not occur. It will
be more of the “flavor of the month” approach with employees and customers
are very tired of.
Finally, there are real constraints here but they are not as dire as you may
believe. Jeff Bezos has funded Amazon but never allowing the corporation to
“take a profit”. It is a bold strategy. It pays off.
Here are the key ideas:
1. What assets will be valuable in a digitally-transformed business?
Eliminate those that are marginal.
2. How can you transform customer experience? Internal operations?
Your business model? You have to decide the transformation road
map.
3. How can units work differently – and work together differently – in a
more connected way? You have to be serious about eliminating as
many silos as you can.
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