digital transformation – it’s all about the business by: thomas smith (usa), tahzoo
TRANSCRIPT
Digital Transformation –It’s All About the Business
Presented by Tom Smith, SVP Industry Solutions
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
Topics for Discussion
May 4, 2015 Slide 3
• Who is Tahzoo• The Pillars of Successful Digital Transformation• Building the Business Case• The Outcomes
We Create and Deliver ContextuallyRelevant Customer Experiences
May 4, 2015 Slide 4
Featured in Forrester Research’s list of top Digital Experience Service Providers
Slide 5
Report: Market Overview: Digital Experience Delivery Service Providers, 2015Selecting 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.
Digital Transformation
Business Marketing
Technology Service
Successful digital transformations are more than just an IT project
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
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
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
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
Building the Business Case
Slide 12
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
In a B2B context, the Flow Index measures community engagement and path to purchase
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
Perfo
rman
ce
For a B2B2C global manufacturer, the process was1. 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
Producing a ROI model establishing the opportunity of the Investment upfront
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
A typical roadmap for financial services outlines a maturity progression as well as milestones
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The 3 Key Outcomes
Slide 20
A clear vision of what to do, what impact to make and how to measure the results
May 4, 2015
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
A business case that demonstrates the opportunity to increase the value of engagement
Questions
