tag:www.econsultancy.com,2008:/topics/culture Latest Culture content from Econsultancy 2017-06-08T11:00:00+01:00 tag:www.econsultancy.com,2008:Report/4502 2017-06-08T11:00:00+01:00 2017-06-08T11:00:00+01:00 Digital Transformation in the Financial Services and Insurance Sector <p>The<strong> Digital Transformation in the FSI Sector: Gearing up for success in a changing market</strong> report builds on our <a href="https://www.econsultancy.com/reports/digital-transformation-in-the-financial-services-sector-2016">previous report</a> looking at digital transformation in the sector. The report aims to explore the approaches new entrants are taking and their focus on the customer experience and marketers' responses to challenges, as well as providing recommendations on approaches to and opportunities related to digital transformation.</p> <h2>Methodology</h2> <p>We carried out a series of in-depth interviews with senior executives from across the financial services and insurance industries to understand how a range of organisations were responding to different opportunities and challenges.</p> <p>Companies interviewed included: The AA, Atom Bank, Aviva, AXA PPP Healthcare, Bought By Many, Lloyds Banking Group, Monzo, National Australia Bank, OCBC Bank, HSBC Singapore, Salesforce and UBS Wealth Management, APAC.</p> <p>We also looked at sector-specific data from our <a href="https://www.econsultancy.com/reports/2017-digital-trends-in-financial-services-and-insurance">2017 Digital Trends in Financial Services and Insurance sector</a>.</p> <h2>What you'll learn</h2> <p>The financial services industry has seen more disruption in the last few years and continues to face significant challenges as new players are seizing the opportunity to enter these markets and new models emerge.</p> <ul> <li>Customer experience continues to be a major focus for marketers and new entrants are focusing on differentiating the customer experience and making the financial lives of customers easy.</li> <li>Having the right strategy and culture to deliver digital transformation is seen as essential with strong leadership from the top.</li> <li>Data is perceived as being a huge part of the digital transformation journey.</li> </ul> <h2>You'll discover findings around:</h2> <ul> <li>How companies are looking to differentiate the customer experience and deliver value to their customers.</li> <li>Ways in which companies are re-orientating their focus around customers and moving away from being product-focused to putting the customer first and delivering products and services more aligned to their needs.</li> <li>The importance of earning trust in the sector and delivering more transparent services to customers.</li> <li>Practices companies are adopting to work in a more agile way. </li> <li>Encouraging a digital culture where digital is not a bolt on. </li> <li>Unlocking the value of data to understand customer journeys and behaviour to deliver more personalised and relevant communications.</li> <li>Importance of innovation starting with the customer and how companies are collaborating and partnering to drive change. </li> </ul> <p>Download a copy of the report to learn more.</p> <p>A <strong>free sample</strong> is available for those who want more detail about what is in the report.</p> <h2>How we can help you</h2> <h2 style="font-weight: normal; color: #3c3c3c;"><a style="color: #2976b2; text-decoration: none;" href="https://econsultancy.com/training/digital-transformation" target="_self"><img style="font-style: italic; height: auto; float: right;" src="https://assets.econsultancy.com/images/resized/0004/8296/rgb_dt_logo-blog-third.png" alt="Digital Transformation" width="200" height="66"></a></h2> <p><a title="Digital transformation - Econsultancy" href="https://econsultancy.com/training/digital-transformation/">Digital transformation</a> is a journey that's different for every organisation. To enable delivery of your digital vision (or help you shape that vision) we’ve designed a comprehensive approach to tackle your transformation.</p> <p>Covering everything from strategic operational issues, down to specific marketing functions, we will work with you to achieve digital excellence.</p> <p>Talk to us about an initial, no-cost consultation.</p> <p>Contact our Digital Transformation Team on <a href="mailto:transformation@econsultancy.com">transformation@econsultancy.com</a> or call</p> <ul> <li>EMEA: +44 (0)20 7269 1450</li> <li>APAC: +65 6653 1911</li> <li>Americas: +1 212 971-0630</li> </ul> <p><iframe src="https://www.youtube.com/embed/2q_lWLm5qtg?wmode=transparent" width="560" height="315"></iframe></p> tag:www.econsultancy.com,2008:BlogPost/68962 2017-04-06T11:03:00+01:00 2017-04-06T11:03:00+01:00 How HR professionals are adapting to the digital age Nikki Gilliland <p>Econsultancy’s <a href="https://econsultancy.com/reports/the-future-of-hr-in-the-digital-age/" target="_blank">Future of HR in the Digital Age</a> report delves into this topic, drawing on insight and knowledge from people within the industry as well as wider research.</p> <p>Here are a few key takeaways, highlighting how HR professionals are adapting to digital change.</p> <h3>Being proactive rather than reactive</h3> <p>While HR professionals are increasingly using data to gain a clearer picture of employees across organisations, it appears that this is still being done at quite a basic level – usually for diagnostic purposes such as measuring output. </p> <p>In future, it is predicted that data will play a more proactive role in HR practice, ultimately being used in predictive ways to develop greater understanding and impact for the HR function overall.</p> <h3>Following the focus on CX</h3> <p>The below chart shows that customer experience is still seen as the biggest opportunity for businesses – above and beyond other factors such as creating compelling content or data-driven marketing.</p> <p><img src="https://assets.econsultancy.com/images/0008/5200/CX.JPG" alt="" width="624" height="592"></p> <p>In turn, CX is also driving change in the processes, structures and practices across organisations as a whole – including HR. </p> <p>Whether it is finding ways to reinforce a collaborative culture or breaking down department barriers, the implications for HR are essentially a greater need to support cross-company collaboration and to facilitate change.</p> <h3>Improving digital literacy </h3> <p>Despite 71% of respondents in a survey saying that it is very important for business leaders to be technology-literate, just 28% said that they believe that is the case within their current organisation.</p> <p><img src="https://assets.econsultancy.com/images/0008/5201/Tech_literate.JPG" alt="" width="600" height="453"></p> <p>This is clearly one area that senior professionals need to work on, however it’s not just about improving technology knowledge in an operational sense.</p> <p>Rather, senior professionals need to understand the potential, integration and application of technologies, with the separation and clear distinction of these three contexts being key.</p> <h3>Recognising the employee experience</h3> <p>While CX is often cited as the main catalyst for <a href="https://econsultancy.com/blog/68216-six-iconic-retailers-and-their-digital-transformation-journeys/" target="_blank">digital transformation</a>, many professionals are beginning to recognise that employee engagement is also a core component.</p> <p>In other words, true transformation is about more than just technical expertise and channels, or indeed marketing and CX. It is about how organisations respond appropriately to the challenges and opportunities that the digital world creates, or in other words, how they reshape the way in which teams work, collaborate and behave. </p> <h3>Evolving leadership qualities </h3> <p>Finally, HR professionals are increasingly focusing on ‘softer skills’, with a change in the perception of leadership qualities seen overall. Rather than traditional leadership qualities such as being inspirational, highly commercial and action-oriented – skills such as adaptability, flexibility, curiosity and the ability to embrace change are growing in importance.</p> <p>Of course, a mix of both soft and traditional skills remain the ideal, with knowledge and empathetic emotional intelligence truly driving organisational change. For HR professionals, the greatest challenge remains being able to find it.</p> <p><em><strong>Related reading:</strong></em></p> <ul> <li><em><a href="https://econsultancy.com/blog/68873-what-exactly-is-company-culture-and-how-can-hr-change-it/" target="_blank">What exactly is company culture? And how can HR change it?</a></em></li> <li><a href="https://econsultancy.com/blog/67976-this-is-how-you-explain-to-hr-what-digital-means/" target="_blank"><em>This is how you explain to HR what 'digital' means</em></a></li> </ul> <p><em><strong>Econsultancy subscribers can also download the full <a href="https://econsultancy.com/reports/the-future-of-hr-in-the-digital-age/" target="_blank">Future of HR in the Digital Age</a> report.</strong></em></p> tag:www.econsultancy.com,2008:BlogPost/68938 2017-03-28T14:47:26+01:00 2017-03-28T14:47:26+01:00 How smartphone apps & personal data might reduce the cost of healthcare products Charles Wade <p>Sports brands, like <a href="http://www.nike.com/us/en_us/c/nike-plus/running-app-gps">Nike</a>, moved into the ‘wellness’ tech space early, as they quickly recognized the opportunity inherent within smartphones, utilising native functionality – such as GPS – to provide (often free) apps that offer users exercise regimes or maps to track their morning runs. </p> <p>Alongside goal-setting, fitness apps looked to enhance the experience by partnering with their home screen neighbors, such as Spotify, to combine their features, for example adding ‘Power Songs’ that play when performance dips. </p> <p>Only this month <a href="https://www.engadget.com/2017/03/12/adidas-new-open-digital-fitness-products/">adidas announced</a> that it plans to make its ‘Runtastic’ app an open platform, allowing third-parties to utilize its capabilities in their own apps to further personalize the user’s experience.</p> <p><img src="https://assets.econsultancy.com/images/0008/5083/adidas_runtastic.png" alt="" width="587" height="294"></p> <p>The reason for investing in technology is clear for the aforementioned sports apparel and footwear manufacturers – they hope to remain front of mind for their target market, namely ‘athleisure’ buyers, a segment <a href="http://digiday.com/uk/stretching-global-athleisure-boom-5-charts/">thought to be worth</a> $270bn globally last year. </p> <p>Not only is it a lucrative space, it is an increasingly competitive one where the ‘traditional’ players are under pressure from relative newcomers like Under Armour and lululemon, as well as Topshop (Ivy Park), H&amp;M, and American Eagle Outfitters, all of whom have developed ranges in an attempt to muscle in.</p> <p>At the same time the healthcare industry is spending heavily on apps as it looks to maximise the relationship that people have with their phone (<a href="https://insights.samsung.com/2016/02/24/do-patients-rely-on-mobile-healthcare-apps-more-than-their-doctors/">32% of US consumers</a> had at least one healthcare app on their phone in 2016). As an example: <a href="https://carezone.com/features">CareZone</a> acts as a journal, reminding you when to take medication; <a href="http://www.uptodate.com/home">UpToDate</a> helps students stay informed with medical developments; and the <a href="http://www.redcross.org/get-help/prepare-for-emergencies/mobile-apps">Red Cross</a> offers first aid advice.</p> <p>Incredibly, <a href="https://suite.face2gene.com/technology-facial-recognition-feature-detection-phenotype-analysis/">Face2Gene</a> allows the user to take a photo of their face (via their phone’s camera) and then uses an algorithm to scan it to identify any genetic syndromes.</p> <p>Aside from selling clothes or taking a fee for download or ‘Premium’ services, what <em>is</em> slightly unclear is what developers are doing with the most important aspect, namely the data that they collect. Looking further afield, Uber recently released ‘<a href="https://newsroom.uber.com/introducing-uber-movement/">Movements</a>’, a service which aggregates the information that the company has learnt about riders and their journeys, which it then offers to cities for better town planning. (Was that in the privacy settings?)</p> <p>It does not take a huge leap of the imagination to hypothesize that app developers might pass on the information that has been clocked up by users to insurers or pharmaceutical companies. If so, not only should consumers be alerted to this fact, but there might be an opportunity for them to demand more from this value exchange, above and beyond receiving information without having to wait at the Emergency Room.</p> <p>There are myriad apps that <a href="http://www.apppicker.com/applists/3414/the-best-health-insurance-apps-for-iphone">store insurance personal data</a>, and subsequently let users ‘compare the market’: why not take this a stage further? For example, a 40-year-old woman might share her Nike Run+ app data with her life insurance provider to show that she runs on average 25-miles a week, possibly along with her associated heart rate (and average time). This could be combined with the step counter on their iPhone, used to further detail the level of her fitness by assessing her mobility.</p> <p>Interestingly, <a href="https://www.healthiq.com/affinity/runspeed8minmile">Health IQ</a>, an insurer, has spent heavily recently on programmatic ads, stating: “Special rate life insurance for runners. Runners who can complete an 8-minute mile have a 35% lower risk of all-cause mortality and a 41% lower risk of death from heart disease.” </p> <p>Furthermore, <a href="http://www.runnersworld.com/general-interest/can-runners-save-on-life-insurance">in an article</a> from July 2016 (which also cites HealthIQ) Runner’s World explains how the US insurance provider <a href="http://www.johnhancock.com/">John Hancock</a> introduced a plan with discounts “of up to 15%” to those customers who meet exercise targets “measured by fitness trackers”. This is a good start for those people who workout.</p> <p><img src="https://assets.econsultancy.com/images/0008/5084/lifeinsurancead.jpg" alt="" width="578" height="368"></p> <p>Alongside the data above, could our runner submit her weekly online grocery order – that contains fruit and vegetables and low sugar items – evidence of a healthy diet that could also be used as a bargaining chip to reduce insurance costs. </p> <p>Again, John Hancock has implemented this, to a degree, through its ‘<a href="https://www.jhrewardslife.com/">Vitality Program</a>’, which rewards policy holders with points, redeemable at Whole Foods, Hyatt, and others if they can show a history of prudent eating. </p> <p>This is certainly commendable, but it does require the individual to have a relationship with that provider and the perks are only available at pre-determined vendors; those who remain fit and healthy might <em>possibly </em>prefer to use the information to reduce their premiums and buy whatever they like (such as new sneakers). </p> <p>Tech alone cannot determine the exact state of someone’s health. Indeed, people would need to continue to have medicals and routine check-ups to assess their overall state (until, that is, there’s an app for that too): however everyday activities should be seen as a tool for consumers to obtain services that are befitting of the condition they keep themselves in.</p> <p>This is timely for US consumers, given the long-term uncertainty around the <a href="https://www.healthcare.gov/glossary/affordable-care-act/">Affordable Care Act</a> (recent climb-down notwithstanding). Millions of Americans pay significant sums for insurance coverage; above and beyond the impact on their health, the invaluable mine of data that apps contain should be used to positively influence their wallets too.</p> <p><em>For more on this topic, read:</em></p> <ul> <li><a href="https://econsultancy.com/blog/68851-six-ways-digital-is-changing-the-pharma-healthcare-industry/"><em>Six ways digital is changing the pharma &amp; healthcare industry</em></a></li> <li><a href="https://econsultancy.com/blog/68346-new-data-shows-why-digital-is-now-critical-to-pharma/"><em>New data shows why digital is now critical to pharma</em></a></li> </ul> tag:www.econsultancy.com,2008:BlogPost/68883 2017-03-13T13:40:00+00:00 2017-03-13T13:40:00+00:00 How are brands structuring marketing teams in the face of a changing media landscape? Nikki Gilliland <p>The panel included Hugh Pile from L’Oreal, Jeremy Ellis from TUI, Paul Davies from Microsoft and David Indo from ID Comms. Here are just a few key points from what they said.</p> <h3>Understanding what consumers want</h3> <p>What does it mean to say transformation is the heart of marketing? Jeremy Ellis, the MD of travel brand TUI, emphasised that this means a company truly understands what its consumer wants. </p> <p>In other words, by bringing the target consumer into the room (so to speak) and building strategy based around their needs and desires – that’s when a marketing team is able to drive transformation as opposed to merely react to it.</p> <p>For TUI, a package holiday company that now competes against the likes of Google and other digital brands, a collaborative internal structure is critical for driving business performance.</p> <h3>Considering competition from new areas</h3> <p>When it comes to competition, L’Oréal’s Hugh Pile suggests that its biggest rivals are not necessarily multi-billion pound businesses – but those emerging from entirely new areas. </p> <p>Social influencers, for example, have been a massive disruption to the beauty industry, leading brands like L’Oreal to ask themselves – 'what changes are we making internally in order to compete? More specifically - what skills do we need from our marketing teams in order to do so?'</p> <p>While many adjectives were used, the two that seemed to crop up the most were ‘curious’ and ‘agile’, with the panel in agreement that the latter should be a trait of every modern marketer. </p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">A key skill we look for in marketers is agility: smart, analytical, creative - L'Oreal W Europe CMO <a href="https://twitter.com/hughpile">@hughpile</a> <a href="https://twitter.com/hashtag/ISBAconf?src=hash">#ISBAconf</a> <a href="https://t.co/QcXCZ8pNsP">pic.twitter.com/QcXCZ8pNsP</a></p> — David Black (@davidblack) <a href="https://twitter.com/davidblack/status/839486289195986944">March 8, 2017</a> </blockquote> <h3>Establishing a balance of skills</h3> <p>The subject of agility was picked up by Paul Davies, the Marketing Director of Microsoft, who mentioned how this skill is most commonly present in millennials. </p> <p>As a brand that, in his own words, is ‘constantly playing catch-up with our audience and to follow where they are going, what they are watching, and what platforms they are on’ – agility is not just an effective skill but a necessary one.</p> <p>That being said, Paul also highlighted the importance of getting the balance right between left brain and right brain skills – i.e. logic and science compared to creativity and ideation. Ultimately, a marketing team that is based on fusion of the two is the goal.</p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">"When talking about the left &amp; right side of the brain, efficiency v creativity, focusing on the left, it's a race to the bottom." <a href="https://twitter.com/hashtag/isbaconf?src=hash">#isbaconf</a> <a href="https://t.co/VoH0SnuLyf">pic.twitter.com/VoH0SnuLyf</a></p> — M&amp;C Saatchi London (@MCSaatchiLondon) <a href="https://twitter.com/MCSaatchiLondon/status/839501976773746688">March 8, 2017</a> </blockquote> <h3>Recognising the importance of failure</h3> <p>During the discussion, Paul Davies was asked what has made Microsoft sexy again. While this was a rather crude way to describe the brand’s resurgence (and rivalry with Apple) – it brought up the subject of innovation through failure.</p> <p>Highlighting the phrase ‘done is better than perfect’, Paul suggested that giving marketing teams the permission to test and learn continuously is what drives true innovation. </p> <p>On the flip side, L’Oréal’s Hugh Pile suggests that innovation as an intrinsic part of strategy is what drives change. For example, he cited the brand's acceleration from a product-led company to a digitally-led one as a natural progression – facilitated by the constant innovation of internal teams. Simply put: if the culture is right, you can move your businesses in any way you want.</p> <p><strong>Further reading:</strong></p> <ul> <li><a href="https://econsultancy.com/reports/digital-marketing-organisational-structures-and-resourcing-best-practice-guide/"><em>Digital Marketing: Organisational Structures and Resourcing Best Practice Guide</em></a></li> <li><a href="https://econsultancy.com/blog/66223-with-a-blank-sheet-what-organisational-structure-would-you-choose-for-marketing-and-digital/"><em>With a blank sheet, what organisational structure would you choose for marketing and digital?</em></a></li> </ul> tag:www.econsultancy.com,2008:BlogPost/68875 2017-03-08T11:03:24+00:00 2017-03-08T11:03:24+00:00 Lloyds Bank: ‘Advertisers need to do more to reflect Modern Britain' Nikki Gilliland <p>Here is what she had to say.</p> <p><img src="https://assets.econsultancy.com/images/0008/4427/Ros_King.jpg" alt="" width="400" height="400"></p> <h4> <em>Econsultancy:</em> Do you feel that advertising accurately reflects modern Britain? </h4> <p><em>Ros King:</em> I believe that the industry is very well intentioned, but our research suggests that advertising needs to do more to reflect modern Britain. </p> <p>For example, nearly 18% of the population is aged over 65, however, only around 6% of the people represented in advertising fall into this age bracket. Less than 1% of people in advertising appear to be single parents, yet 25% of families with dependent children are single parents. Similarly, one in six people in the UK has a disability, yet they are represented by less than 1% of the people featured in advertising.</p> <p>When we asked consumers if they felt they were accurately portrayed in advertising, only 47% agreed. This percentage was lower amongst respondents from minority groups, and was as low as 21% amongst gay women. 41% of respondents aged over 65, 43% of single parents, and 55% of two-parent families also felt they weren’t accurately portrayed. </p> <h4> <em>E:</em> Do you think the industry is even aware that there is an issue?</h4> <p><em>RK:</em> Yes. I believe the advertising industry is aware that there is still more work to be done. A survey undertaken by Marketing Week in 2015 highlighted that 42% of marketing professionals believe the work they produce doesn’t reflect contemporary society.</p> <h4> <em>E:</em> Why do you think advertisers have failed to be representative?</h4> <p><em>RK: </em>Advertisers don’t make conscious decisions to exclude people in minority groups, or portray them in a way that feels stereotypical. </p> <p>Under-representation is likely to be driven through fear of getting it wrong and causing offence to minority groups. This may be coupled with unconscious bias, which is linked to challenges we know exist around the composition of the industry. The good news is there’s a widespread understanding of the challenges ahead, meaning increasing focus, with additional support by bodies like the IPA and the AA.  </p> <h4> <em>E:</em> How can these challenges be overcome? How should the ad industry go about changing?</h4> <p><em>RK:</em> One of the biggest challenges for any advertiser is how to reflect and represent diversity without stereotyping.  </p> <p>Our Reflecting Modern Britain report highlighted some important insights, which we hope will help people feel more confident in developing more inclusive communications. It is not as simple as re-writing a script to include a protagonist from a minority group - authentic storytelling is crucial. It is important to ensure that the advertisement is written with the person featured at the heart. You cannot just write a script and then deliver diversity in the casting.</p> <p>Finally, and most importantly, demonstrate inclusivity - not just diversity. Singling out minority groups can create feelings of segregation and make some audiences feel they are being educated on prejudice.</p> <h4> <em>E:</em> How are you approaching this issue at Lloyds?</h4> <p><em>RK:</em> Inclusion and diversity are fundamental pillars of our Helping Britain Prosper plan, they run deeply throughout our organisation. As one of the UK’s biggest banks we have a responsibility to better represent the diversity of the customer and communities we serve. </p> <p>Our Modern Britain report helps us understand how advertising currently reflects our society, and how in turn we could improve. Findings from this research have inspired us to look at every stage of the communications process. From research and customer insights, through to creative briefing, media planning and evaluation. Starting with the customer at the outset, we will hopefully develop more inclusive advertising that feels authentic.  </p> <p>The Lloyds Bank ’For your next step’ campaign is a demonstration of how we are translating this into our advertising. One of the most memorable scenes is a proposal between two gay men – ‘He said yes’. This recently won a MAA #DoDifferently award, which showcases adverts featuring diverse and innovative marketing. Customers, colleagues and the LGBT community have been hugely supportive of this campaign via social media.  </p> <p><strong><em>Don't forget to sign up for <a href="http://www.marketingweeklive.co.uk/" target="_blank">Marketing Week Live</a> on March 8-9 in London.</em></strong></p> tag:www.econsultancy.com,2008:BlogPost/68867 2017-03-06T11:49:00+00:00 2017-03-06T11:49:00+00:00 Q&A: Direct Line’s MD on the marketing team of the future Nikki Gilliland <p><img src="https://assets.econsultancy.com/images/0008/4369/Mark_Evans.png" alt="" width="380" height="248"></p> <p>Here’s what he had to say.</p> <h4><strong><em>Econsultancy:</em> What are the main challenges you are facing today in regards to team structure? What keeps you up at night?</strong></h4> <p><em>Mark Evans:</em> The biggest challenge most marketing teams currently face in a fast-changing world is how to structure for success. At Direct Line Group we have very deliberately re-shaped the team in recent years to maintain our edge. The result is a cohesive team of specialists that fully understand the benefits of integration and embrace working across silos.</p> <p>Today more than ever, it’s crucial to have a shared sense of purpose and accountability in order to address marketing challenges. At Direct Line we have fused together teams to bridge typical divides: propositions and communications, customer management and customer experience, social and PR, insight and marketing effectiveness.</p> <p>As a consequence, the heads of each of these four broadened teams have really big strategic roles, which ensures that we can move at greater pace where we previously faced mobilisation and prioritisation issues, ultimately leading to a more dynamic and effective function overall.</p> <h4><strong><em>E:</em> How have you developed your marketing team to make it ready for the changing digital landscape?</strong></h4> <p><em>ME:</em> With the majority of our business happening on digital channels, we continue to invest heavily in ensuring everyone in our team (and the wider business) is digitally savvy. Within the marketing team, we’ve already made some significant changes to ensure digital runs through the heart of everything that we do.</p> <p>Consequently, we now run every campaign in a fully integrated way from the outset. An example of this was our recent Emergency Plumber campaign which stretched from traditional TV all the way through to a number of digital firsts.</p> <p><iframe src="https://www.youtube.com/embed/8MMYuGrROao?wmode=transparent" width="560" height="315"></iframe></p> <h4><strong><em>E:</em> How much as has your org chart changed in the past three years?</strong></h4> <p><em>ME:</em> The evolution of the Direct Line marketing team has been extensive over the past three years. We have grown organically into a "full-service" marketing function incorporating accountability for social, PR, customer experience, and proposition development. Digital has also grown in prominence, not least as we have in-sourced some aspects of the model.</p> <p>More broadly though, we have invested in a progressive culture whereby the structure of the team itself becomes less relevant as we form more liquid cross-functional teams to attack specific challenges. For example, the creation, build and launch of the Shotgun brand which aims to save young drivers' lives was run as an agile process from the outset. </p> <h4><strong><em>E:</em> What skills do you look for when hiring senior team members and why?</strong></h4> <p><em>ME:</em> We are passionate about developing talent from within so the majority of our senior team members come up through promotion rather than being brought in from elsewhere. However, regardless of where our senior talent comes from, the core qualities that we look for are curiosity, collaboration and a desire to take personal accountability.</p> <p>Broadly, this translates into an ability to spot the gap, the conviction to go for it, and the emotional intelligence to do so in the right way.</p> <h4><strong><em>E:</em> Similarly, what skills do you think grads and young marketers should look to acquire?</strong></h4> <p><em>ME:</em> From my perspective, the key for graduates and young marketers is to be voracious to learn. At Direct Line we look to fast track learning by putting our grads through rotations to give them the broadest base of business knowledge.</p> <p>This was the process that I benefited from at Mars, moving through different functions, different operating units, and even different countries in the early years in order to maintain the steepest possible learning curve. It was a rude awakening working on a pet food production line for my second rotation but gave me a huge insight into leadership at a very early stage.</p> <p>To state the obvious, having exposure to several areas of the business provides perspective that translates into impact and gravitas. Ultimately if you aspire to move into bigger leadership roles, then you need to build the broadest possible foundations in order to survive inevitable personal earthquakes.</p> <h4><strong><em>E:</em> What is Direct Line’s approach to training and development? How does your team learn new skills and innovate?</strong></h4> <p><em>ME:</em> Training and development is a massive focus for us, again a legacy from spending a decade at Mars where personal development was very highly valued. We are committed to long-term development and so are constantly looking for new approaches.</p> <p>An example of this is that for the last three years every employee has had their own personal training budget (total training spend for the team divided by total FTE) to use as they see fit to improve themselves.</p> <p>This empowerment leads to greater personal ownership and as long as the money is spent in a way that is coherent with the individual's personal development plan then it leads to a better outcome for the individual and therefore also for the organisation.</p> <p><em><strong>Don't forget to sign up for <a href="http://www.marketingweeklive.co.uk/">Marketing Week Live</a> on March 8-9 in London.</strong></em></p> tag:www.econsultancy.com,2008:BlogPost/68776 2017-02-03T14:28:00+00:00 2017-02-03T14:28:00+00:00 10 astounding digital marketing stats from this week Nikki Gilliland <p>As always, the <a href="https://econsultancy.com/reports/internet-statistics-compendium" target="_blank">Internet Statistics Compendium</a> is ready and waiting if you’re in the mood for something a little extra.</p> <h3>34% of brands admit internal silos</h3> <p>New research from Oracle highlights how closer collaboration between sales and marketing teams is required to better target audiences and increase sales.</p> <p>However, despite also recognising the need, many organisations are failing to put it into practice. </p> <p>The Oracle survey found that 34% of brands admit their sales, marketing and customer service teams work completely independently of each other, leading to a lack of customer insight.</p> <p>In terms of the reasons why, 33% blame it on their current systems and technologies, while 30% say their corporate culture makes it tricky for sales and marketing teams to align priorities.</p> <h3>Millennials increasingly influencing tech-buying decisions</h3> <p>With millennials predicted to make up 50% of the US workforce by 2020, <a href="https://business.linkedin.com/marketing-solutions/blog/marketing-for-tech-companies/2017/millennials-and-gen-x-decision-makers-achieving-more--together">Linkedin has been exploring how younger generations</a> are influencing technology buying decisions in the workplace.</p> <p>In a survey of 5,470 global professionals, it found that 61% of younger millennials (age 19-25) contribute to their companies’ technology purchases, with one in three already being decision-makers. Older millennials (those aged 25-35) are said to have even more influence, with 68% contributing to decisions.</p> <p>Lastly, Generation X still holds the power, with 85% of employees aged 36-50 deciding technology purchases or managing the budget.</p> <p><img src="https://assets.econsultancy.com/images/0008/3667/Linkedin.JPG" alt="" width="428" height="519"></p> <h3>Searches for US visas surge following travel ban</h3> <p>Following Trump’s travel ban, Hitwise data has revealed that searches for American visas have since increased by 34%. More specifically, searches for “visa for USA from UK” and “US visa waiver” have been among the highest.</p> <p>This is similar to what happened after Brexit, when Hitwise witnessed a 300% increase in searches related to moving to the EU. </p> <p>Following the week’s news coverage, approximately one in every 10,000 searches over three days related to the “travel ban”, which is an increase of 2,045% since January 28.</p> <h3> </h3> <h3>One in 10 Gmail users say emails are miscategorised</h3> <p>Gmail’s automatic sorting feature is proving less than effective, with one in 10 users reporting incorrectly categorised messages.</p> <p>This is according to new research from Return Path, leading to warnings that marketers should be more vigilant about how and where their messages are being delivered.</p> <p>The study found that 45% of tabbed inbox users check the ‘Promotions’ tab - used to aggregate marketing promotions and other offers - at least once per day. As a result, if marketing email is delivered to another tab, it could be missed entirely.     </p> <p><img src="https://assets.econsultancy.com/images/0008/3665/gmail.jpg" alt="" width="680" height="453"></p> <h3>UK consumers spent the most via mobile last Christmas </h3> <p>According to Adobe’s latest Digital Index, UK shoppers spent more via mobile last Christmas than the US or any other European nation. </p> <p>Data shows that 60% of online visits to UK retailers over Christmas were made on mobile, and of every £10 spent online in the UK, £4.10 came from a mobile device. </p> <p>Insight suggests that this could be due to a rise in last-minute buying, with the amount spent on the last Monday before Christmas increasing by 50% in 2016.</p> <h3>Live chat leads to greater customer loyalty</h3> <p>A new <a href="https://skilled.co/resources/live-chat-best-customer-service-right-now/" target="_blank">infographic</a> by Skilled highlights how live chat on ecommerce sites can lead to increased levels of customer satisfaction and loyalty.</p> <p>Studies show that 63% of live chat users said they are more likely to return to the site as a result. Interestingly, Mexico is said to be the leader of live chat, with the highest customer satisfaction rate of 94.11%.</p> <p><img src="https://assets.econsultancy.com/images/0008/3663/Skilled.JPG" alt="" width="674" height="342"></p> <h3>Nearly two in five shoppers have used their phone to pay in-store</h3> <p>MEF’s <a href="http://mobileecosystemforum.com/mobile-money-report/" target="_blank">Mobile Money Report</a> has revealed that mobile payments are on the rise, with nearly two in five shoppers using their smartphone to make a purchase in-store.</p> <p>From analysis of 6,000 consumers in nine countries, it also found that 78% of people have made a purchase using an app or mobile site.</p> <p>Mobile banking looks to be on a similar path, with 61% of respondents saying they now use their mobile phone to bank, and 44% using an app to check their balance.</p> <h3>Consumers see over half of brand content as ‘clutter’</h3> <p>The <a href="http://www.meaningful-brands.com/en" target="_blank">Meaningful Brands</a> report by Havas has revealed that over half of consumers view brand content as poor or irrelevant.</p> <p>In a study of 375,000 people across 33 countries, Havas found that while 84% of respondents expect brands to produce content of some kind, 60% of it fails to deliver any personal benefit.</p> <p>Consequently, we can see that the greater the impact on a person’s well-being, the more likely content is to be perceived as meaningful or effective.</p> <p><img src="https://assets.econsultancy.com/images/0008/3664/Havas.JPG" alt="" width="680" height="426"></p> <h3>80% of marketers describe data as ‘critical’ to success</h3> <p>A new GDMA survey has highlighted how customer data has become an indispensable asset, with 80% of global respondents citing it as critical to their marketing efforts.</p> <p>UK marketers are increasingly relying on data, coming top of all countries when asked about its importance.</p> <p>As a result, investment in data-driven marketing and advertising is still on the rise, with over half of global respondents saying they increased their spending in this area in 2016.</p> tag:www.econsultancy.com,2008:BlogPost/68656 2017-01-03T14:17:12+00:00 2017-01-03T14:17:12+00:00 Will the digital skills gap hold back young entrepreneurs? Nikki Gilliland <p>So what’s behind this entrepreneurial boom? Here’s more on the study and why millennials in particular are turning towards non-traditional roles.</p> <h3>Startup inspiration</h3> <p>According to Wix’s study, 44% of people would prefer to be their own boss rather than work for somebody else. Which is hardly surprising, I suppose?</p> <p>However, one statistic that <em>is</em> quite startling is that over a quarter of people believe they could make up to £48,000 pounds a year if they turn their hobby into a business.</p> <p>That’s quite a bold claim, especially taking into consideration the industries that people are interested in.</p> <p>From those considering starting an online business in the coming months, 19.2% of people cited the startup category of cooking, while 18.5% cited baking, 18.3% photography and 16% sports.</p> <p>As we can gather from this, there is a growing shift towards creative roles, with the majority choosing this over technology or finance-driven industries.</p> <p>Interestingly, many respondents cited TV shows like the Great British Bake Off and The Apprentice as the inspiration for their own entrepreneurial goals, as well as motivational online content like TED Talks.</p> <p><iframe src="https://www.youtube.com/embed/bvAEJ8G9l9U?list=PLOGi5-fAu8bFkzTIDgxljLEbCAyvzpyhB&amp;wmode=transparent" width="854" height="480"></iframe></p> <p>Similarly, with millennials now <a href="https://www.comscore.com/Insights/Blog/What-Millennials-YouTube-Usage-Tells-Us-about-the-Future-of-Video-Viewership" target="_blank">preferring to watch YouTube</a> rather than traditional TV, perhaps we can also put it down to the example shown by <a href="https://econsultancy.com/reports/the-rise-of-influencers/">social media influencers</a> – a career path that is typically built on self-motivation and self-expression.</p> <p>For younger generations, it is equally clear that happiness is a big motivation, with 49% of respondents saying that doing something they love is far more important than earning lots of money or having an impressive job title.</p> <p>Luckily, digital companies do appear to be cottoning onto this trend, with many more introducing workplace initiatives to <a href="https://econsultancy.com/blog/68487-how-can-companies-attract-and-retain-talent-in-the-digital-age" target="_blank">attract and retain talent</a>, such as flexible and remote working and training opportunities.</p> <h3>Biggest hurdles</h3> <p>Despite an increased desire to work independently or become self-employed, there are undoubtedly still huge barriers to success.</p> <p>Although 70% of Brits in the study said that finance was the biggest factor stopping them from launching a startup, 57% said a lack of marketing skills, while 49% said a lack of digital skills like <a href="https://econsultancy.com/reports/search-engine-marketing-seo-digital-marketing-template-files/">SEO</a> and analytics. This isn’t big news, of course.</p> <p>Last year, the House of Commons Science and Technology Committee published a report on the ‘digital skills crisis’, highlighting the fact that 12.6m of the adult UK population lack basic digital skills.</p> <p>The report urged the government to take action, calling for increased focus on digital skills in apprenticeships, universities and schools.</p> <p>However, while an investment in education is certainly required, we cannot ignore the untapped potential that already exists within businesses, with many also calling on companies to ensure employees develop their digital competence.</p> <p>Similarly, with 47% of employees having never taken steps to boost their digital skills - it is also vital for employers to promote the value of it.</p> <p><img src="https://assets.econsultancy.com/images/0008/2570/digital_skills.jpg" alt="" width="650" height="433"></p> <h3>Path to success</h3> <p>While the digital skills gap remains a big barrier for would-be entrepeneurs - and the reason why turning a hobby into an online business might remain a pipe dream rather than a reality for some - the desire to do so still reflects the change in how younger generations perceive work.</p> <p>Alongside increased flexibility, this also boils down to the kind of work young people are keen to get involved in.</p> <p>Deloitte’s 2016 <a href="https://www2.deloitte.com/global/en/pages/about-deloitte/articles/millennialsurvey.html" target="_blank">Millennial Survey</a> showed that, despite being known as the “me me me” generation, millennials have a greater desire to work for companies that have a positive impact on society – with the majority agreeing that success should be measured in terms of more than just financial performance.</p> <p>In fact, millennials that intend to stay with their organisation for at least five years are far more likely to report a positive culture, with an alignment of values being incredibly important for job satisfaction.</p> <p><img src="https://assets.econsultancy.com/images/0008/2573/Purpose.JPG" alt="" width="760" height="472"></p> <p>Interestingly, this was also reflected in our series of interviews with the Top 100 Disruptive Brands of 2016, with executives citing shared values, creativity and a lack of ego as some of the <a href="https://econsultancy.com/blog/68483-hiring-digital-talent-what-skills-characteristics-do-startups-value" target="_blank">skills and characteristics most valued</a> by startups.</p> <h3>In conclusion...</h3> <p>With a growing percentage of young people looking into self-employment, it remains to be seen how the digital skills gap will affect the ratio of success to failure.</p> <p>Perhaps then, if the UK Government succeeds in driving action to combat the issue, we can expect tomorrow's workforce - otherwise known as Generation Z - to be the real digital entrepreneurs of the future.</p> <p><em><strong>To see how your digital knowledge stacks up, take <a href="https://econsultancy.com/training/digital-skills-index-lite/" target="_blank">Econsultancy’s Digital Skills Index</a>.</strong></em></p> <p><em><strong>Or to improve your skills, you can also check out our range of digital marketing <a href="https://econsultancy.com/training/" target="_blank">training courses</a>.</strong></em></p> tag:www.econsultancy.com,2008:BlogPost/68627 2016-12-12T10:56:36+00:00 2016-12-12T10:56:36+00:00 Three key charts from our New Marketing Reality Report Nikki Gilliland <p>Econsultancy's <a href="https://econsultancy.com/reports/the-new-marketing-reality/">New Marketing Reality</a> report, published in association with IBM Watson Marketing, delves into these challenges, specifically in the three areas of data, customer experience and business.</p> <p>Here are three key charts from the research:</p> <h3>Ability to interpret data</h3> <p>While we assume that most businesses understand the importance of customer data, it is interesting to note that there is a direct split between the marketers who are able to intelligently deal with it and those who are not.</p> <p>In Econsultancy's survey, 43% of marketers rated their ability to act on insights derived from customer data as ‘good’, while 43% also rated it as ‘poor’.</p> <p>This suggests that a large percentage of marketers still need to make the leap from accessing data to actively analysing and identifying what is most relevant.</p> <p><img src="https://assets.econsultancy.com/images/0008/2307/Data.JPG" alt="" width="700" height="431"></p> <h3>Internal silos</h3> <p>Changing customer behaviour has meant that marketers have been forced to follow suit – moving away from the traditional funnel into a more holistic approach.</p> <p>However, overcoming ‘siloed organisational structures’ remains one of the biggest barriers for this, with 53% of advanced organisations citing it as a challenge.</p> <p>From this, it appears that both sales and marketing are still fighting for ownership of their piece of the customer pie, when in fact, the aim should be a shared victory. </p> <p><img src="https://assets.econsultancy.com/images/0008/2308/Customer_journey.JPG" alt="" width="700" height="491"></p> <h3>Strategy focus</h3> <p>Though the below chart indicates that the focus on retention and acquisition is fairly even, it is still skewed towards the latter. </p> <p>With acquisition typically being more expensive than retention, this means that marketers are using already limited resources to acquire new customers, when they should be focusing on fostering existing customer loyalty.</p> <p>In turn, new customers could become a byproduct, with a strong and loyal audience helping to strengthen a company's authority and reputation.</p> <p><img src="https://assets.econsultancy.com/images/0008/2309/Retention.JPG" alt="" width="700" height="429"></p> <p><em><strong>For lots more information on this, you can download the <a href="https://econsultancy.com/reports/the-new-marketing-reality/" target="_blank">New Marketing Reality</a>.</strong></em></p> tag:www.econsultancy.com,2008:BlogPost/68508 2016-11-10T10:07:50+00:00 2016-11-10T10:07:50+00:00 The four goals underpinning Deliveroo’s growth strategy Nikki Gilliland <p>So, in the midst of all this expansion, what are the future hopes for the business?</p> <p>I recently heard William Shu, the CEO of Deliveroo, speak at Web Summit on this topic.</p> <p>Here are four key takeaways from what he said, outlining the company’s main goals.</p> <h3>Becoming more affordable</h3> <p>Deliveroo’s business model has previously been criticised, with riders recently striking due to <a href="https://www.theguardian.com/business/2016/aug/15/deliveroo-workers-strike-again-over-new-pay-structure" target="_blank">changes in pay structure</a>. </p> <p>While William was quick to dismiss any unfairness, suggesting that the company strives to create a fair deal for all parties, he did admit that the price of a Deliveroo order from a consumer perspective could benefit from being lowered.</p> <p>With the likes of Domino's Pizza and JustEat costing around £20 and £18 per order respectively, Deliveroo is on average £23-£25 in the UK. </p> <p>Consequently, the company is unable to follow through on the idea that it acts as an affordable and accessible replacement for home cooking.</p> <p><img src="https://assets.econsultancy.com/images/0008/1348/deliveroo.jpg" alt="" width="470" height="280"></p> <p>This is where the new ‘Roobox’ model comes in.</p> <p>An off-site kitchen initiative, Roobox essentially allows restaurants to partner with Deliveroo or expand into new areas with less cost and lower risk.</p> <p>Without the need for a highly visible location (in a busy high street or town centre), this takes away the need for rent and utilities.</p> <p>Currently being trialled in London, William promises that if successful, lower prices for consumers would also follow.</p> <h3>Reaching those outside of urban areas</h3> <p>As well as lowering its price point, Deliveroo is also intent on quashing the notion that it is a somewhat elitist and urban-centric brand. </p> <p>Of course, this notion is almost impossible to argue with - Deliveroo <em>is</em> technology-driven and targeted to the middle classes.</p> <p>However, again William cited Roobox as the first step in building a more accessible brand for all consumers. </p> <p>By bringing its services to areas that have a larger residential population but a lower amount of restaurants available, it hopes to open up the brand to a wider audience. </p> <h3>Protecting the rights (and wishes) of riders</h3> <p>With restaurants, consumers and riders to consider, keeping everyone happy was always going to be a tough call.</p> <p>With recent strikes regarding pay, it appears the riders might have ended up with the worst end of the deal.</p> <p>However, when faced with questions about the viable nature of a career in the on-demand economy, William was emphatic about the positive response from most of Deliveroo’s workforce.</p> <p>Undertaking regular polls to gauge employee satisfaction, he cited three factors that are most important to Deliveroo riders above anything else.</p> <p>First, it is the ability to work whenever they want, with flexible hours allowing them to take on the job alongside other careers.</p> <p>Second, and rather surprisingly, is physical fitness.</p> <p>With 80% of Deliveroo riders in London using bicycles, William suggested that active work is a bigger incentive than you might assume.</p> <p>Lastly, there is the pay. And sure, the recent wage-related argument is hard to ignore.</p> <p>However, Deliveroo is firm in its stance that the new structure actually goes in the worker’s favour, extending their flexibility and giving them the potential to earn more money during peak hours.</p> <p>Whether or not this is true remains to be seen.</p> <p>Moreover, looking even further into the future, what about the idea that all riders will eventually be replaced by automated delivery anyway?</p> <p>While William was reluctant to say if this idea was even on Deliveroo's radar, his answer was at least slightly heartening for the aforementioned riders themselves. </p> <p>Explaining that the growth of new technology will lead to fewer jobs for society as a whole, not just Deliveroo, he suggested that – as a company with technology at its core - it is its responsibility to look at what can be done to protect workers.</p> <h3>Investing in international expansion</h3> <p>Lastly, with such rapid growth in London and other big cities, Deliveroo looks set to build on this by rolling out international expansion.</p> <p>So, what’s been behind the company’s intense growth?</p> <p>William cites the drive and self-motivation of his team, whereby an autonomous and creative working culture has helped to steer the direction of the company.</p> <p>In terms of advice for others, he also emphasises the importance of having an almost irrational passion for a project – not just the desire to be the CEO of a company.</p> <p>Hearing him speak, it is evident that William’s passion is the driving force behind Deliveroo's success.</p> <p>Built from a desire to improve the lacklustre food delivery service in London – let’s hope the potential to scale up doesn’t mean a diversion from this simple vision.</p> <p><em>Deliveroo featured in Econsultancy’s list of the Top 100 Disruptive Brands 2016. <a href="https://econsultancy.com/reports/top-100-disruptive-brands-2016/">Download the full report to find out more</a>.</em></p>