tag:www.econsultancy.com,2008:/topics/digital-transformation Latest Digital Transformation content from Econsultancy 2016-05-05T12:01:00+01:00 tag:www.econsultancy.com,2008:BlogPost/67812 2016-05-05T12:01:00+01:00 2016-05-05T12:01:00+01:00 People & Process: Four key takeaways from Digital Cream 2016 Luke Richards <p>That said, we had some fascinating conversations which mostly centred on agile marketing and a diverse group of attendees contributed.</p> <p>Here are my top four takeaways from the day, which are covered in greater detail in my <a href="https://www.econsultancy.com/reports/people-and-process-agile-working-collaborative-tools-and-cloud-based-marketing-tech/">Digital Cream 2016 Report</a>.</p> <h3><strong>1. ‘Agile’ is a relative term</strong></h3> <p>Working in an agile way is very much rooted in the software development sector.</p> <p>Developers often prefer to work in this non-linear/non-waterfall fashion so user and <a href="https://econsultancy.com/blog/64417-horror-stories-how-to-avoid-an-a-b-testing-nightmare/">A/B testing</a> is more frequent (every week rather than just before deadline, for example) and bugs are dealt with more quickly.</p> <p>In marketing, things seem a little less nailed down.</p> <p><img src="https://assets.econsultancy.com/images/0007/4640/Digital_Cream_2016.jpg" alt="" width="800" height="533"></p> <p><a href="https://econsultancy.com/training/courses/agile-marketing/">Agile marketing</a> can relate to becoming more of a ‘social business’, using more digital technologies and giving marketers or developers more authority to launch campaigns and services in a more responsive, efficient manner.</p> <p>Our discussion of agile incorporated all of the above and ultimately represents a newer way of working which is collaborative and more driven by employees and the end users of the products and services.</p> <p>This is in contrast to, for example, simply waiting on orders from managers who often are somewhat disconnected from digital culture and the needs of the consumer.</p> <h3><strong>2. Disrupt and be disrupted</strong></h3> <p>Much of the need to go agile is driven by young businesses that are disrupting the market.</p> <p>For example, in finance we see <a href="https://www.marketingweek.com/2016/01/06/atom-bank-creates-1-4-million-logos-in-bid-to-prove-customer-obsession/">Atom Bank</a> – a boundary-less, customer-led, digital bank – behaving in ways legacy banks have never dreamed of.</p> <p>But disruption can also be something which is stimulated within agile businesses.</p> <p>With investment, staff who are empowered enough to innovate and allowed to fail, learn and re-try, can develop new products, new services or new campaign ideas.</p> <h3><strong>3. Fear stifles progress</strong></h3> <p>Most barriers to adopting agile ways of working in modern businesses seem to relate to the people working within them, rather than – for instance – lack of funding and time.</p> <p>Some staff members are concerned about digital taking over and putting jobs at risk, so it is understandable that we were hearing some people are worried about being made redundant should agile work methods be adopted.</p> <p>Attendees also spoke of fear in regards to increased transparency and scrutiny which come with greater drives to ensure team members know what others are working on.</p> <p><img src="https://assets.econsultancy.com/images/0007/4641/Digital_Cream_2016_v2.jpg" alt="" width="800" height="533"></p> <p>In-office stand-ups and weekly catch-ups may appeal to some staff members but not to those who are shy, anxious or admittedly not as efficient as they should be.</p> <p>Some marketers were keen to stress that middle managers were often the most reluctant to adopt more transparent ways of working.</p> <h3><strong>4. Education, education, education</strong></h3> <p>It soon emerged that the best way to overcome fear and other barriers to adopting agile work methods is to educate staff about the benefits of these progressive ways of working.</p> <p>Simple, shocking data (and that which comes from third-parties) can assist in getting buy-in from managers – especially if it relates to the bottom line.</p> <p>Staff on ‘the floor’ are often keen to learn about other parts of the business and new techniques as it can enhance their work skills, employability and life outside of work.</p> <p>Fundamentally, people need to be educated patiently, trustingly and without jargon about the benefits of agile working.</p> <p>For more information about our People and Process discussions at Digital Cream 2016, check out <a title="People and Process: Agile working, collaborative tools and cloud-based marketing tech" href="https://www.econsultancy.com/reports/people-and-process-agile-working-collaborative-tools-and-cloud-based-marketing-tech/" target="_blank">my report</a>.</p> tag:www.econsultancy.com,2008:BlogPost/67799 2016-05-03T11:46:00+01:00 2016-05-03T11:46:00+01:00 Facebook’s F8 updates mark shift from screens to experiences Prosper Williams <p>If you’re wondering, April 12th was the day Facebook announced its roadmap for the next ten years, with particular emphasis placed on immersive technologies like virtual and augmented reality. </p> <h3>The shift from screens to environments </h3> <p>While many of us are still making the transition from paper to digital or PC to mobile the focus of companies like Facebook, Google, Amazon and Microsoft point to a future in which the lines between the physical and virtual worlds are completely blurred.</p> <p>Images and objects, in environments such as offices, cities and homes, can now be overlaid with data to create distinctly new experiences. </p> <p>On-demand platforms like Uber and devices like smartwatches have already made consumers demand more from their digital experiences, and for many, <a href="https://econsultancy.com/training/courses/creating-superior-customer-experiences/">the customer experience</a> is now more important than the product itself. </p> <p>By creating almost infinite interface possibilities, immersive technologies not only allow brands to meet the challenge posed by experience-seeking customers, it gives them the power to make every interaction an opportunity to deliver something exceptional. </p> <h3>Building borderless, liquid experiences</h3> <p>As our world continues to become even more virtualized and sensor-rich, the constraints of a screen-based life will disappear, and with it, many organizations will have to re-frame how we compete at the level of experience. </p> <p>The brands that succeed in this evolved business environment will need to remove barriers right across the customer eco-system.</p> <p><img src="https://assets.econsultancy.com/images/0007/4484/facebook_f8.jpg" alt="" width="849" height="565"></p> <p>Not just in relation to internal hierarchy and processes, but across differing touchpoints, locations, and even industries.</p> <p>Only then can we create borderless experiences that wrap themselves around the lifestyle patterns of customers as they carry out day-to-day activities. </p> <p>This mind-set is very different to what we see in organizations today; in which we map the interactions/journeys customers have with our brands in isolation.</p> <p>In the near future, there should be no reason why I cannot  ‘tap and save’ branded content and offers directly from a mobile ad to the relevant brand in my mobile wallet, and then have that same ad served up as and when I need it. </p> <p>For example, when walking past Starbucks, I could receive offers via augmented reality, letting me know what offers were live in a particular store and whether a coupon I have saved was still valid.</p> <p><img src="https://assets.econsultancy.com/images/0007/4482/Starbucks_outlet.jpg" alt="" width="848" height="566"></p> <p>Without even stepping into the store, I could then complete the payment transaction via gesture, voice or touch control, walk in, collect my coffee and leave. </p> <p>Immersive, borderless technologies will make just these types of interactions possible, as they provide a digital overlay on the real world, to create completely new and integrated customer journeys.</p> <p>Notice in the above scenario it was difficult to tell which brand was driving the engagement, or which was the dominant channel.</p> <p>Was it the agency who trafficked the ad to my mobile device, was it my bank who used location awareness to remind me of the unused coupon sitting in my digital wallet, or was it Starbucks that offered me the coupon in the first place, based on past usage.</p> <h3>The rise of bots</h3> <p>To some, the above may sound like science fiction, but it is science fact.</p> <p>And Facebook’s second big announcement regarding bots for Messenger is version 1.0 of an interface that will unlock the potential of not only mixed reality, but <a href="https://econsultancy.com/reports/a-marketer-s-guide-to-the-internet-of-things/">the internet of things (IoT) too</a>.</p> <p>While figures vary widely, it's safe to say everyone agrees that the IoT and mixed reality will create trillions of dollars of economic value.</p> <p>But despite the hype, the lack of interoperability and a unified frictionless interface, are hindering both the IoT and immersive technologies from scaling.</p> <p>With an estimated 50bn objects connected to the internet by 2020, a world dominated by screens, text and images becomes impractical.</p> <p>If your car, home and office are all smart, intelligent and most importantly interconnected (i.e. they speak to each other), the notion you would need an app (or mobile device) to interact with each of these objects in order to carry out habitual day-to-day functions just doesn't scale.</p> <p><iframe src="https://www.youtube.com/embed/KkOCeAtKHIc?wmode=transparent" width="560" height="315"></iframe></p> <p>Ideally, if you needed something you would just ask for it, and as computational power moves into the environments around us, I believe AI and virtual personal assistants (i.e Apple’s Siri, Microsofts Cortana, Amazon’s Alexa and Google’s Now) will be the most effective way to actualise this future. </p> <p>Alexa, the VPA for Amazon's Echo, already gives consumers the ability to check their bank balances, recite recent transactions, and control home appliances all using speech recognition.</p> <p>And whilst early use cases are somewhat trivial, chatbots are just the first iteration of a much bigger play by the likes of Facebook, Amazon and Microsoft, as they <a href="https://econsultancy.com/blog/67767-will-conversational-marketing-become-a-reality-in-2016/">use conversational elements to build the experiences of tomorrow</a>. </p> <h3>What can brands do now?</h3> <p>Forward-thinking brands have always known that competing successfully in today's environment has never been about devices, channels or platforms, but following the evolution of consumer behavior to the most granular of levels.</p> <p>In this sense context always has been and will be King. </p> <p>Our current obsession with mobile is well placed, but as highlighted by thought-leaders like Sergio Nouvel, it is a little more nuanced than we think.</p> <p>The focus should be on mobility first, as opposed to mobile first, as value is now transmitted by a combination of devices, and soon to be interfaces, objects and platforms. </p> <p>As we transition from a landscape dominated by screens to environments, the focus of attention must shift from inside to outside the organisation.</p> <p>Technology has made our world so fragmentary and customer journeys so interwoven, that soon it will be almost impossible for one organisation to adapt to the countless needs and niches created by our hyper contextualised, sensor-rich world. </p> <p>To thrive, organisations that once saw themselves as competitors, may need to start seeing themselves as complementors.</p> <p>Asking the following questions.</p> <ol> <li>Where can we find opportunities to partner with third parties in order to optimize the customer journey across multiple devices and locations?</li> <li>Have we observed our customers in their natural real-world setting? Do we understand how they live, what they do, how they use things or what they need in their everyday or professional lives?</li> <li>Is our use of data limited to a particular channel, or are we using offline data to optimise the online experience and online data to optimise the offline experience?</li> </ol> <p>Finding answers to the above, allows us to get closer to the customer than ever before, revealing new opportunities along the customer journey in which we can participate and add value.</p> <p>Whilst relinquishing elements of control may bring with it (perceived) added risk, advantages such as faster innovation, greater barriers to entry and ultimately newer and richer customer experiences, far outweigh any drawbacks. </p> <p>Besides are we really in control when one customer review can determine the fate of a brand? </p> <p>The main players in the tech industry are all enhancing their value proposition because they view themselves as components in an eco-system of customer experiences, as opposed to isolated entities.</p> <p>If we are to thrive in the age of environments, while finding new ways to reach and engage with customers, we will have to do the same.</p> tag:www.econsultancy.com,2008:Report/4124 2016-05-03T11:44:00+01:00 2016-05-03T11:44:00+01:00 People and Process: Agile working, collaborative tools and cloud-based marketing tech <h2>Overview</h2> <p>Econsultancy's <strong>People and Processes Trends Briefing </strong>explores the increasing ways companies are organising their marketing and highlights the challenges faced by delegates attending Econsultancy's roundtable-based <a href="https://econsultancy.com/events/digital-cream-london">Digital Cream London 2016</a> event.</p> <p>The People and Processes roundtable was sponsored by <a href="https://www.censhare.com/en">censhare </a>and moderated by digital consultant Danielle Sheerin.</p> <h2>What you'll learn from this report</h2> <ul> <li>Understand how business see themselves along the process of digital transformation, and how working in agile ways is helping them transform.</li> <li>The differing definitions of 'agile' among businesses.</li> <li>The drivers towards, and benefits of, transformational agility.</li> <li>Barriers to transformation.</li> <li>Helpful tools and resources and case studies for teams working towards transformational agility.</li> </ul> <h2>Digital Cream</h2> <p>An exclusive invitation-only event, Digital Cream is an opportunity for senior client-side marketers to learn from each other about the latest best practice, what's working and what's not.</p> <p>Digital Cream takes place around the globe throughout the year - <a href="https://econsultancy.com/events">see our upcoming events</a>.</p> <h2>Digital Transformation</h2> <p>Want more information on <a href="https://econsultancy.com/training/digital-transformation">digital transformation</a>?</p> <p>Digital is changing faster and more profoundly than anyone could have predicted. Doing what you've always done is no longer an option.</p> <p>The specialist Digital Transformation practice within Econsultancy helps companies accelerate their journeys to digital excellence. We address the four vectors of change:</p> <ul> <li>Your <strong>strategy</strong> - where should you be going with digital?</li> <li>Your <strong>people</strong> - what teams, talent and skills do you need to get there?</li> <li>Your <strong>processes</strong>- how should you change the way you work?</li> <li>Your <strong>technologies</strong>- what platforms, software and data strategy will serve you best?</li> </ul> <p><strong>Talk to us about an initial, no-cost consultation. </strong>We'll discuss your toughest challenges, outline our methodology and come back with a proposal.</p> <p>Contact our Digital Transformation Team on transformation@econsultancy.com or call:</p> <ul> <li> <strong>EMEA:</strong>+44 (0)20 7269 1450</li> <li> <strong>Americas: </strong>+1 212 971 0630</li> <li> <strong>APAC: </strong>+65 6653 1911</li> </ul> tag:www.econsultancy.com,2008:BlogPost/67797 2016-04-29T11:43:00+01:00 2016-04-29T11:43:00+01:00 Digital transformation: Five key tenets of a digital leader Craig Hanna <p>N.B. The roundtable operates under the Chatham House Rule, so I can’t mention the individuals or companies that attended the session.</p> <p>However, included in the audience were senior leadership from well known financial services, brewing, travel, branded consumer goods and B2B services companies. An interesting mix indeed.</p> <p>While the perspectives varied, the main themes were almost universally agreed upon.</p> <h3>1. Digital business is just business</h3> <p>This one is fairly straightforward. Doing business to the best of our ability means digital has to sit at the heart of your company's thinking.</p> <p>That said, most people think of digital as a visible layer over the top of the “real” business - one that is focused on the customer interaction. These people have little or no understanding that the operating system of doing business is changing. </p> <p>Being digital isn’t just about digitizing what you already have.</p> <p>It can involve the integration of digital technology into virtually everything, which may require whole scale changes to the foundational components of a business, from its operating model to its infrastructure.</p> <p>This means that business leaders from the CEO down need to be literate in the opportunities that technology offers and visibly back initiatives. </p> <h3>2. The digital leader is also an educator</h3> <p>Digital experts often have a passion for their chosen field. A fine attribute, but one that, left unfettered, can lead to problems.</p> <p>It can be fatal to assume that everyone is onboard from the beginning or that everyone understands what’s even possible (and is prepared to jump on board).</p> <p>Digital leaders need to think of themselves as educators and facilitators as much as they consider themselves builders and implementers.</p> <p><iframe src="https://www.youtube.com/embed/2q_lWLm5qtg?wmode=transparent" width="560" height="315"></iframe></p> <p>This means having a vision based on business values that can be communicated in a way that people across the business can understand.</p> <p>Leaders also need to preempt the inevitable territorial battles down the road by preparing the ground work well in advance. </p> <p>Crucially it's about getting the business to understand what being digital-first really means and to move away from a “transformation” perspective which typically defines a disruptive process with a defined end.</p> <p>Real change to business practice, real adoption of a digital-first philosophy, means that the process never ends.</p> <p>As one attendee said, “When I started I felt I was plowing the field with my face,” adding: </p> <blockquote> <p>You need to be systematic. By understanding how your business works, what they value and who really pulls the levers you can eventually make good business arguments and be heard.</p> </blockquote> <p>It was also universally acknowledged that a company will struggle to realise the benefits of digital if it doesn't have a proper strategy and support from the top that infiltrates through the whole organisation.</p> <h3>3. Culture is the ace card</h3> <p>Everyone felt culture was the ace card.</p> <p>Digital thinking is about <a href="https://econsultancy.com/blog/67118-17-bullshit-free-quotes-about-company-culture-from-digital-organisations/">changing the culture of the business</a> and the way it operates rather than creating a technology sticky plaster. Because we all know sticky plasters always fall off in the end. </p> <p>Technology should be considered an enabler of a much larger process – becoming truly customer-centric. </p> <p>To be truly customer-centric takes deep cultural change. Everyone in the organization needs to think in terms of the customer and have the empowerment to act.</p> <p>This means that companies have to hire not just for skills but also for behavioral traits such as agility, problem solving and collaborative working. </p> <h3>4. Getting business buy-in can entail a range of strategies</h3> <p>Business buy-in, as we have already mentioned, is key and isn’t always easy.</p> <p>Having a CEO or other board supporter was seen as crucial for rapid success, but many attendees had tried a range of other strategies to get the buy-in needed.</p> <h4><strong>Establish a digital steering committee</strong></h4> <p>You’ll need support and you’ll need the perspective and expertise of a wide range of stakeholders. Don’t think you can do it all by yourself.</p> <p>Take time to find people who have the influence to make things happen. This isn’t the same as having a big job title.</p> <h4><strong>Start with smaller projects, with low visibility and lower perceived risk</strong></h4> <p>Start with smaller projects that deliver real measurable business value and use those to build consensus. Success breeds success. </p> <p>As one attendee put it:</p> <blockquote> <p>I developed a strategy of digital by stealth. I looked for manageable projects that were other people's problems and I helped deliver a digital answer.</p> <p>It's amazing the goodwill you can build quickly when you make other people look good.</p> </blockquote> <h4><strong>Look at others for inspiration</strong></h4> <p>It’s hard to be first but it's worse to be last. That’s a reality in business so use this to your advantage.</p> <p>Make people aware of what others are doing and the value they are creating. Ideally take examples in your sector but look further afield too.</p> <p>You may have to offer more translation but it might get you ahead of the curve in your sector. </p> <h4><strong>If you have board level buy-in then ask for a “digital tax”</strong></h4> <p>Even if you have a business case established and have support from the board, making it happen can still be difficult.</p> <p>To encourage people to support your digital projects and focus on a successful outcome, split the costs among all those departments that stand to benefit.</p> <p>If this is also aligned with targets and remuneration you’ll have a firm footing for success. </p> <h3>5. Maintenance is just as important as change</h3> <p>Organisations have unique issues depending where they sit on the digital maturity curve. </p> <p>Most are still struggling to fill the gaps in their capability to manage digital implementation effectively.</p> <p><em>Econsultancy’s digital maturity model has three stages: emergent, managed and optimised</em></p> <p><img src="https://assets.econsultancy.com/images/0007/4467/econsultancy_s_maturity_model.png" alt="" width="517" height="562"></p> <p>In the first instance, an organisation has to establish the foundations of its digital capability and invest to build out the essential elements such as an ecommerce platform.</p> <p>The organisation is then in a position to sell its products online and create new digital user experiences and revenue transactions. </p> <p>However, once essential core capabilities are built and the value proved, BAU (business as usual) becomes an increasingly important part of change management.</p> <p>Optimizing assets to improve performance is essential if marketing and business KPIs are to be achieved.</p> <p>This requires organisation focus and investment in the right level of resources and a collaborative change process that works so as to meet increased demands of digital from all areas of the business. </p> <p>One mistake that companies keep making is to not properly plan for developing and scaling digital change so as to maintain platforms, tools and applications once they have been built and to ensure the digital operational lights are kept on.</p> <p>What was also clear at the roundtable was how far most businesses still have to travel, not just in terms of delivering customer-centric digital experiences but in terms of knowing that they even need to.</p> <p><iframe src="https://www.youtube.com/embed/TotoIZdle3c?wmode=transparent" width="560" height="315"></iframe></p> <p><em>This post was co-authored by <a href="https://www.linkedin.com/in/chrisketley">Chris Ketley</a> from Beechgate Consulting.</em></p> tag:www.econsultancy.com,2008:BlogPost/67792 2016-04-28T14:52:00+01:00 2016-04-28T14:52:00+01:00 What does 'startup culture' really mean & how can it help big businesses transform? Ben Davis <p>No sooner have we decided digital is imperative than I.T., Marketing, Ecommerce, Tech and Communications descend into a bun fight.</p> <p>When I thought more about the nest of snakes that corporate culture <em>can</em> be (be thankfully doesn't have to be), I decided it would be more productive to dwell on the delights of startup culture.</p> <p>Behind the workplace tropes (ping pong, beer, takeout) and seat-of-your-pants risk involved in working at an early stage startup, just what is startup culture?</p> <h3>What is startup culture? </h3> <h4>The chance of a promotion and a pay rise</h4> <p>This is by virtue of a startup's growth.</p> <p>Big corporates must emulate this and promote as much as is possible, something that banks have recently woken up to, as new talent begins to think 'why the heck should I kill myself for you?'</p> <p>Top MBA graduates are now <a href="http://www.ft.com/cms/s/0/20db6e5c-f7e6-11e5-96db-fc683b5e52db.html#axzz477dOPsF2">40% less likely</a> to choose banking as a career, with some looking to tech instead.</p> <p>Bank of America reacted by this year announcing earlier promotion for analysts and associates.</p> <h4>Co-location</h4> <p>Again a virtue of diminutive organisation size.</p> <p>Open-plan offices have been de rigueur for a while now at big corporates. But the advantage that startups have is that often their entire organisation is a cross-functional team.</p> <p>As companies get bigger, Accounts, Sales and, crucially, Tech get their own domains on their own floors. I.T. can be thought of only as a ticketing system (however agile).</p> <p>What co-location does is increase the efficiency of communication. Small issues can be raised without fear of bureaucracy or being ignored.</p> <p>Meetings don't have to be scheduled weeks in advance - minutes can be grabbed here and there, with employees empowered to act. </p> <h4>Productive informality</h4> <p>I can't remember where I first saw this phrase, but it was in an excellent blog post somewhere.</p> <p>Productive informality is enabled by co-location, but it's more than that.</p> <p>It's a get-on-with-it attitude that dictates a loose reign for managers who trust employees to tread the right side of 'process'.</p> <p><img src="https://assets.econsultancy.com/images/0007/4548/iStock_000018198054_Small.jpg" alt="formality" width="500"></p> <h4>Getting on with it</h4> <p>Targets that are too prescriptive, too detailed and reviewed too seldom can cripple employees who are afraid of committing to something that 'isn't my job'.</p> <p>The review process is ongoing, it's the other side of a coin of responsiblity, opposite self-awareness (I'm writing quickly and don't have the time to change that metaphor).</p> <h4>A focus on long-term revenue</h4> <p>A startup is all about money 'then' not 'now'.</p> <p>The focus to begin with is product and funding, then user adoption, then service, then marketing.</p> <p>Only corporates that allow a division to <a href="https://econsultancy.com/blog/67183-an-inspiring-digital-transformation-case-study-travelex">take a long-term view</a> can achieve new and disruptive product development.</p> <h4>Democracy (unless the founder weighs in)</h4> <p>There's still a management structure in a startup, of course.</p> <p>But every member of staff is invested enough in the project to be respected for their views.</p> <p>Ultimately, the founder may say 'we're doing it my way', but not until others have had their say.</p> <h4>Confidence</h4> <p>If you watch Silicon Valley, the HBO series, you'll know that the joke of series one was startups who said they were going to 'change the world'.</p> <p>It's funny because it's true. This zeal for product and company mission is what engenders ownership of brand and service.</p> <p>Some of that startup confidence needs to be bottled, and pumped into ailing corporates. Never diss the product.</p> <p><em>A 'fake' poster for Pied Piper, advertising the new series of HBO's Silicon Valley.</em></p> <p><img src="https://assets.econsultancy.com/images/resized/0007/4427/pied_piper-blog-flyer.jpg" alt="pied piper" width="470" height="695"></p> <h4>Recruiting for personality AND skills</h4> <p>This is what every company tries to do, big or small.</p> <p>However, through sheer numbers of applications, HR departments in big organisations have to discount some people who haven't ticked every box.</p> <p>Goldman Sachs is using machine learning to better sort through the 40-50 applicants per position.</p> <p>This is a tricky one to get right but it is so important. To quote <a href="https://www.linkedin.com/pulse/20130923230007-204068115-how-i-hire-focus-on-personality">Richard Branson from LinkedIn</a>:</p> <blockquote> <p>The first thing to look for when searching for a great employee is somebody with a personality that fits with your company culture. Most skills can be learned, but it is difficult to train people on their personality.</p> <p>...Great grades count for nothing if they aren’t partnered with broad-ranging experience and a winning personality.</p> <p>If you hire the wrong person at the top of a company, they can destroy it in no time at all.</p> </blockquote> <h4>Flexible working</h4> <p>Working all hours or working none. Working everywhere or nowhere.</p> <p>There's a lot of truth in Marissa Meyer's assertion that corridor meetings are important - teams need to interact.</p> <p>But quite simply, the employee who can stay at home and take delivery of a refrigerator/ fibre-optic internet connection/ leather swing without taking holiday is far more likely to double their efforts at home and when back in the office.</p> <p>Those pesky millenials just love to sit in a Hackney/Williamsburg cafe on a Friday afternoon (stereotype alert).</p> <h4>Using the best tools</h4> <blockquote> <p>1. Can I have a Mac please? Can I use Google Drive?</p> <p>2. Sure - as long as you use two-step authentication and never share outside our domain.</p> </blockquote> <p>That is the response of an enlightened business owner.</p> <blockquote> <p>1. What about <a href="https://econsultancy.com/blog/67489-slack-yammer-facebook-who-ll-win-the-collaboration-battle/">Slack</a>?</p> <p>2. Is that a new band?</p> <p>1. No, it's a messaging tool that would really help some of our teams?</p> <p>2. Great - I'm glad we hired you.</p> </blockquote> <h4>A healthy ratio of tech to non-tech</h4> <p>Techies should not be too busy to dip into ad hoc work (like everyone else in the office) because the I.T. Head has calculated exactly how much resource he needs to complete the current pipeline.</p> <h4>Access to the leader</h4> <p><a href="https://econsultancy.com/blog/67118-17-bullshit-free-quotes-about-company-culture-from-digital-organisations">Culture</a> is passed down from the top and becomes dyed in the wool.</p> <p>If the leader is only in the office once a month (and not just in his/her office), you should be worried.</p> <h4>Perks</h4> <p>All the above are perks (to those who have never known them).</p> <p>Throw in some free drinks (without caveating their provision in a boring email) etc. etc.</p> <h3>Conclusion </h3> <p>Can big corporates achieve all of these things? I don't know, but the challenge is their's.</p> <p>Better that than wrestling for 'control' of digital, something that should eventually be too pervasive to be wrangled by just one person, team or department. </p> <p><em>If you're interested in talking to Econsultancy, check out our <a href="https://econsultancy.com/training/digital-transformation/">Digital Transformation resources</a>.</em></p> tag:www.econsultancy.com,2008:BlogPost/67730 2016-04-12T09:52:00+01:00 2016-04-12T09:52:00+01:00 Fintech startup Mondo provides slick, impressive UX: Review Martin Jordan <p>Just 136 days after its initial alpha launch, the public beta for the <a href="https://getmondo.co.uk/">Mondo banking app</a> launched on 17 March.</p> <p>It launched with an iOS-only app – I’ve been informed the Android version is on its way.</p> <p>Having registered for the app I was immediately put in a queue to wait for my card.</p> <p>Mondo has cleverly incentivised this process by giving each applicant a unique referral link. Every person that subsequently signed up to Mondo off the back of my link enabled me to jump up the queue a few places.</p> <p>My 170 Equator colleagues did me proud and thanks to them I went from position 23,000 to one in under half an hour!</p> <p>Once I reached the top it took 12 hours for the app to activate itself and that’s when I was allowed to add funds.</p> <p>However, rather than using scanning technology for ID, such as passports, driver’s licence , etc. as I thought it might, the app took my details in a traditional fashion. The flash of innovation came in the final stage of setup. </p> <p>In order to open a Mondo account, I would have to transfer a minimum of £100.</p> <p>Though I could have done the transfer manually using my Santander app, instead Apple Pay enabled a seamless bank transfer using only my fingerprint.</p> <p>Well, 10 seconds later, and I had opened a Mondo account.</p> <p><img src="https://assets.econsultancy.com/images/0007/3856/mondo_1.jpg" alt="" width="250" height="444">  <img src="https://assets.econsultancy.com/images/0007/3857/mondo_2.jpg" alt="" width="250" height="444">  </p> <p>After 48-hours, the screen changed to let me register the fact that my card had arrived...</p> <p><img src="https://assets.econsultancy.com/images/0007/3858/mondo_3.jpg" alt="" width="250" height="445"></p> <p>I liked the thick blue envelope and the orangey colour of the card; the sleeve reminded me to protect my number if I did decide to share my adventures in Future Banking.</p> <p>Which of course I did. (#geek)</p> <p><img src="https://assets.econsultancy.com/images/0007/3859/mondo_4.jpg" alt="" width="299" height="400"></p> <p>And I was in! The simple transaction screen details current balance, the day’s spend and recent transactions.</p> <p>I have to give it to Mondo. Its app is clever, it’s lean, there’s no messing about, it’s fully functional and needs no further authentication layer to get in.</p> <p>Once I open the app I can see all my transactions without tapping in another password.</p> <p><img src="https://assets.econsultancy.com/images/0007/3860/mondo_5.jpg" alt="" width="250" height="445"></p> <p>When I buy something with my new Mondo card it’s like any other normal transaction, though at this moment in time it makes use of a Prepay Mastercard debit card.</p> <p>This means that it does not come with a sort code or account code on the card, but it does have a Pin (which was texted to me) and contactless.</p> <p>I was most impressed with my purchase history with Mondo – on one occasion when making an online purchase, the Mondo app registered five seconds faster than the confirmation from the online retailer’s site!</p> <p>And every other transaction has appeared on my phone screen within two to three seconds. Speedy or what?</p> <p>Also, if Mondo recognises a store it will brand the icon next to the payment, and if it can’t it will categorise the item (e.g. ‘Eating Out’ or  ‘Groceries’).</p> <p>It also lets me add notes and photos to purchases, which give me a fuller picture of my spending activities.</p> <p><img src="https://assets.econsultancy.com/images/0007/3861/mondo_6.png" alt="" width="225" height="400"></p> <p>What’s more, I can categorise expenditure. For example, if I classify items as expenses, Mondo can collate these making it easy for me to hand into my boss.</p> <p>Dig a little deeper and I can see all purchases made over a certain amount, by ‘Merchant’ or by ‘Category’.</p> <p>And there’s even a handy graph that lets me track spend and income habits as an easy line graph.</p> <p><img src="https://assets.econsultancy.com/images/0007/3862/mondo_7.jpg" alt="" width="250" height="444">  <img src="https://assets.econsultancy.com/images/0007/3863/mondo_8.jpg" alt="" width="250" height="444"></p> <h3>Other bits…</h3> <p>Like with other banking apps, you can now send money by text. Nothing too novel there but this bit is all secured by Touch ID.</p> <p>You can chat to customer service staff at any time through a conversation window, sending images if necessary. They’re pretty fast at getting back too.</p> <p>They’ll respond through the chat window and through your email.</p> <h3>In conclusion...</h3> <p>Ok, so it’s not a full banking app yet but the platform shows incredible promise.</p> <p>Mondo has thought long and hard about the user experience, maximising the phone’s power where it can, cutting out paper almost completely (you still need the card) and making the interface incredibly intuitive.</p> <p>There are still some simple things Mondo could have done to make it even slicker but it may be working on this or may be stymied by financial regulation.</p> <p>I hope that, in time, it becomes a learning app – learning not just from your own behaviour, but from all users.</p> <p>I enjoy the wit and humour injected into the app and did not feel that it was inappropriate for a serious banking app.</p> <p>In terms of performance, the app is very fast, never stalls and purchases come through incredibly quickly.</p> <p>I think there’s a bright future here. The big banks need to watch this one intently!</p> <p><em>For more on this topic, see:</em></p> <ul> <li><a href="https://econsultancy.com/blog/67202-what-s-the-future-for-big-banks-in-a-fintech-world/"><em>What's the future for big banks in a FinTech world?</em></a></li> <li><a href="https://econsultancy.com/blog/66246-are-banking-websites-in-need-of-an-update/"><em>Are banking websites in need of an update?</em></a></li> <li><a href="https://econsultancy.com/reports/digital-transformation-in-the-financial-services-sector/"><em>Digital Transformation in the Financial Services Sector Report</em></a></li> </ul> tag:www.econsultancy.com,2008:BlogPost/67665 2016-03-22T13:43:54+00:00 2016-03-22T13:43:54+00:00 HR departments are feeling the pain of digital disruption Seán Donnelly <h3>Recruiting staff with the right mix of digital skills is difficult</h3> <p>While this might not be a new problem, it would seem that this issue is particularly pronounced for companies that aren’t based in or near large urban centres.</p> <p>As the requirement to capture and make use of data continues to grow, so too does the need to develop the right infrastructure and talent. According to our <a href="https://econsultancy.com/reports/quarterly-digital-intelligence-briefing-2016-digital-trends/" target="_blank">Quarterly Digital Intelligence Briefing: 2016 Digital Trends</a>, published in association with Adobe, only 37% of respondents indicated that they have the analysts they need to make sense of their data.</p> <p>Companies are responding to the challenge in a number of ways:</p> <p><strong>Hire for behaviour and attitude, not qualifications</strong></p> <p>There was some discussion about hiring graduates, whose expectations may be too high both in terms of what they wish to earn and how quickly they expect to progress.</p> <p>Because it can be difficult to attract these graduates, some companies are hiring people for behaviour and attitude and equipping them with the right skills through training.</p> <p><strong>Developing apprenticeships and school leaver programmes</strong></p> <p>Several participants noted that this approach was effective as more and more young people are developing technology skills either at school or independently.</p> <p><em>Companies that based far from large urban centres are finding it hard to recruit digital skills.</em></p> <p><img src="https://assets.econsultancy.com/images/0007/3186/old_street.jpeg" alt="old street" width="258" height="195"></p> <h3>If recruiting is an issue, retention is just as challenging</h3> <p>Several participants spoke of what they called the “18 month itch”. So called “millennials”, particularly those working in technology and marketing related roles, may choose to move on after 18 months. </p><p>This was particularly prominent in cases where companies are using new technology tools that require training to use them effectively. Once staff become experts at using new and complex technologies, they can become more attractive to other employers so can earn more lucrative salaries elsewhere. This raises a number of issues for HR professionals:</p> <p><strong>Should companies try to retain 'itchy' staff?</strong></p> <p>Or, should companies develop a pipeline of talent to allow staff in other departments the opportunity to upskill and move laterally within the company?</p> <p>Several attendees said that their companies are actively developing procedures to identify staff who traditionally worked in more traditional junior operational roles and giving them the opportunity to upskill into new roles. </p> <p><strong>How should companies manage the leaving process?</strong></p> <p>One HR Manager in attendance said that companies should develop a “positive leaving strategy”. This just means parting ways in the best way possible. The HR Manager that suggested this noted that her company runs “alumni drinks” twice per year. This is useful for a number of reasons:</p> <ul> <li>Staff may move to potential clients. Maintaining a positive relationship with an ex member of staff can be useful for strengthening client relationships and in some cases new client acquisition.</li> <li>A positive leaving strategy can leave the door open to staff coming back to the company in the future when they have acquired new skills. Admittedly, there were different points of view among attendees regarding whether this should be encouraged or not.</li> </ul> <p><em>The 'itch' is felt quicker than ever.</em></p> <p><img src="https://assets.econsultancy.com/images/0007/3194/itch.jpeg" alt="seven year itch" width="202" height="250"></p> <h3>Addressing digital literacy remains an issue</h3> <p>When it comes to digital maturity, addressing digital skills, from the most junior employee right up to senior management remains an issue.</p> <p>According to our recent research into organisational structures and digital leadership titled <a href="https://econsultancy.com/reports/effective-leadership-in-the-digital-age/" target="_blank">Effective Leadership in the Digital Age</a>, more than a third (40%) of businesses believe that recruiting staff with suitable skills is a significant barrier to digital progress, making it a bigger problem than 'legacy systems and processes' (35%). </p><p>This is where things got tricky. Having moderated a number of roundtables on different digital topics, I have come to observe that these sessions can often raise more questions than they answer. One such question was whether digital skills should be a requirement for every position or whether digital skills should be centralised? </p><p>While digital literacy is recognised as an issue that needs to be addressed, HR Managers are unclear of what digital literacy is, how to teach it and of course how to measure it. With that in mind, there was some discussion about measuring employee performance. </p><p>Attendees did agree that what we traditionally call “appraisals” should be reframed. The following insights represent a summary of the different ideas and approaches that were discussed with regard to appraisals:</p> <p><strong>People first</strong></p> <p>Attendees noted that while there is a plethora of technologies available for managing and administering reviews, it is important to put people and not technology first.</p> <p><strong>Process driven</strong></p> <p>Performance reviews should be considered as a process and not an event that takes place once or twice per year. One HR Manager pointed out that there should never be any surprises at an appraisal.</p> <p><strong>Two way</strong></p> <p>In fact, one company now calls appraisals “quality conversations”. Appraisals should be approached as a two way conversation rather than one way feedback from a manager to an employee.</p> <p><img src="https://assets.econsultancy.com/images/0006/9535/Screen_Shot_2015-11-27_at_13.36.42.png" alt="digital skills a challenge" width="615"></p> <h3>Legacy systems and functional silos</h3> <p>Finally, I wondered if we’d hear the words “legacy system” and “silo” and sure enough they popped up. There was discussion among the HR Managers present that the word “digital” too often seems to be considered part of “marketing”. </p><p>One attendee noted that for organisatons to get to grips with digital, they need to develop a “digital family” by joining up IT, Marketing and HR. </p><p>At Econsultancy, we are certainly of the view that a digitally mature organisation will have digital integrated throughout the company. This is represented in our five stage model of digital maturity in our <a href="https://econsultancy.com/reports/digital-marketing-organisational-structures-and-resourcing-best-practice-guide/" target="_blank">Digital Marketing: Organisational Structures and Resourcing Best Practice Guide</a> which is outlines the following evolutionary path:</p> <p><strong>Dispersed structure</strong></p> <p>To begin with digital expertise is normally spread thinly across the organisation.</p> <p>This digital expertise develops organically as employees with digital skills start to make the case for digital. These employees may sit within different departments and so may only have influence within their own team or department.</p> <p><strong>Digital centre of excellence</strong></p> <p>As digital skills mature, many organisations centralise them into what we called a centre of excellence. This centre of excellence is responsible for driving the digital agenda throughout the company. </p> <p><strong>Hub and spoke</strong></p> <p>The next stage in this evolution is what we call “hub and spoke”. At this stage, there is still a central digital hub but digital starts to mature throughout the organisation.</p> <p>This is effectively a combination of centralised and decentralised capability / resourcing / expertise whereby some key functions or capability remain centralised but local functions (think HR) or divisions can develop their own capability that links to the centre.</p> <p><strong>Multiple hub and spoke</strong></p> <p>This moves to a multiple hub and spoke model as digital gets adopted across multiple divisions or business units. Organisations that pass through this stage may have a number of divisions with discrete audiences for example and so while there may still be a central digital hub, each division may also have their own hubs.</p> <p><strong>Fully integraged 'honeycomb' structure</strong></p> <p>The final stage in this model is where digital and digital skills become fully integrated within the fabric of the company. A company at this stage within the model could reasonably be expected to have both the analysts and technology to be able to surface usable insights both from customers and also staff.</p> <p><img src="https://assets.econsultancy.com/images/0006/2174/DT_structures.png" alt="" width="500" height="250"></p> <p>We’ve already mentioned that only 37% of companies have the analysts to make sense of their data. Based on the same research, only 41% of companies report that they have good infrastructure to collect the data that they need.</p> <p>If digital is to be used for operational efficiency by HR, then clearly the term “digital” needs to be understood more broadly than as something led by marketing. For that reason, when we discuss digital transformation, we are thinking about something that encompasses the entire organisation, not simply the marketing department.</p> <h3>Leading the charge</h3> <p>Many organisations need to start somewhere and so perhaps it makes sense that until recently digital transformation has been led by either the <a href="https://econsultancy.com/blog/66906-was-i-wrong-about-chief-digital-officers/" target="_blank">CTO, CMO and in some cases the CDO</a>. Is there scope for HR professionals to lead the charge? Certainly they have a key contribution to make.</p> <p>Digital transformation after all needs to be successfully accompanied by cultural transformation.</p> <p>I suspect that we will conduct further research into digital from the perspective of HR professionals. In the meantime, readers might be interested in our report “Effective Leadership in the <a href="https://econsultancy.com/reports/effective-leadership-in-the-digital-age/" target="_blank">Digital Age, Skills and Capabilities of Successful Digital Transformation Leaders”</a>.Digital Transformation</p><p>Digital is changing faster and more profoundly than anyone could have predicted. Doing what you've always done is no longer an option.</p> <p>----</p> <p><em><strong>How can Econsultancy help?</strong></em></p><p>The specialist digital transformation practice within Econsultancy helps companies accelerate their journeys to digital excellence. We address the four vectors of change:</p> <ul> <li>Your strategy - where should you be going with digital?</li> <li>Your people - what teams, talent and skills do you need to get there?</li> <li>Your processes - how should you change the way you work?</li> <li>Your technologies - what platforms, software and data strategy will serve you best?</li> </ul> <p>Talk to us about an initial, no-cost consultation. We’ll discuss your toughest challenges, outline our methodology and come back with a proposal.</p> <p>Contact our Digital Transformation Team on transformation@econsultancy.com or call</p> <ul> <li>EMEA: +44 (0)20 7269 1450</li> <li>Americas: +1 212 971 0630</li> <li>APAC: +65 6653 1911</li> </ul> <p><iframe src="https://www.youtube.com/embed/2q_lWLm5qtg?wmode=transparent" width="425" height="350"></iframe> </p> tag:www.econsultancy.com,2008:BlogPost/67610 2016-03-21T10:03:00+00:00 2016-03-21T10:03:00+00:00 Digital transformation in sports: from diamond to gridiron Ben Davis <h3>Football - experiential evolution</h3> <p style="font-weight: normal;"><strong>Leading the way for stadium tech </strong></p> <p style="font-weight: normal;">One area where football in the US stands out is targeting improved fan experiences at stadiums.</p> <p style="font-weight: normal;">A <a href="http://diginomica.com/2015/01/12/nrf-15-sporting-chance-digital-transformation/">recent Diginomica article</a> paraphrases Paraag Marathe, President of the San Francisco 49ers who cites data and interactivity within the stadium as a way of enhancing fan engagement and ultimately revenue.</p> <blockquote style="font-weight: normal;"> <p>Replays can be sent direct to fans’ phones within the stadium, and they can order food and products via their mobiles and have them despatched to their seats “within five minutes”.</p> <p>The brand’s mobile ticketing app is the key to unlocking fan preferences.</p> </blockquote> <p style="font-weight: normal;">What this shows is the increased ability to serve fans through their mobiles. This starts by providing connectivity, and WiFi is one area where the NFL is trouncing soccer.</p> <p style="font-weight: normal;">Wireless hotspots (there are apparently over 700 at NFL stadiums <a href="http://www.rippleffect.com/news-views/the-connected-stadium-what-can-football-learn-from-erm-football/">according to rippleffect</a>) obviously promote social media activity at the game. They also afford another advertising revenue stream, as fan attention is focused on a portal or signup process, which can then capture email addresses.</p> <p style="font-weight: normal;">Adding loyalty and gaming elements could also forge a valuable data capture tool on game day.</p> <p style="font-weight: normal;"><em>The Levi's stadium</em></p> <p style="font-weight: normal;"><img src="https://assets.econsultancy.com/images/0007/2929/levis.jpeg" alt="the levis stadium" width="300" height="168"></p> <p style="font-weight: normal;"><strong>Fantasy and reality</strong></p> <p style="font-weight: normal;">No article mentioning NFL is complete without also mentioning fantasy football.</p> <p style="font-weight: normal;">It's apparently a $1.5bn industry in the U.S. according to IBISWorld and is a driver for much evolution of data analysis, as well as media engagement with the NFL.</p> <p style="font-weight: normal;">Someone once told me that half of office web traffic at the start of the season is to Fantasy Football sites. I haven't been able to verify this but in September 2015, seven of ESPN's top 10 trafficked articles were about fantasy football.</p> <p style="font-weight: normal;">There's certainly a febrile atmosphere when it comes to the consumption of NFL stats. That's where sensors and the <a href="https://econsultancy.com/reports/a-marketer-s-guide-to-the-internet-of-things/">IoT</a> come in.</p> <p style="font-weight: normal;">This season, NFL players have had sensors in their shoulder pads that allow accurate tracking and have been used by teams to analyse on-field time, and also by the league to embellish fantasy football data.</p> <p style="font-weight: normal;">As ever with American sport, it seems fans' hunger for stats can be as big a driver of innovation as teams' appetite to increase revenue and fan engagement.</p> <p style="font-weight: normal;"><img src="https://assets.econsultancy.com/images/0007/2931/nfl_fantasy.jpeg" alt="fantasy football logo" width="298" height="169"></p> <p><strong>Early days for VR</strong></p> <p>Football games have already been provided for the samsung VR headset, and some NFL clubs are experimenting with the technology for play instructions in training.</p> <p>Technology such as 3D broadcasts never took off in sport - ESPN's 3D NFL died in 2013 and Sky dumped 3D UK soccer in 2014 - but <a href="https://econsultancy.com/reports/a-marketers-guide-to-virtual-reality">VR</a> is certainly attracting some backing.</p> <h3>Baseball - more than moneyball</h3> <p style="font-weight: normal;">Baseball is of course synonymous with data analysis to facilitate on-field success (known as moneyball).</p> <p style="font-weight: normal;">But, as an enlightening <a href="https://openforum.hbs.org/challenge/understand-digital-transformation-of-business/data/business-baseball-and-analytics">Harvard Business School article </a>details, the Boston Red Sox are moving this reputation to operations, too. </p> <p style="font-weight: normal;">The Red Sox is analysing data to optimise ticket sales and stadium capacity.</p> <p style="font-weight: normal;">Focusing on season ticket holders, the team subscribes to the business philosophy of customer retention being a lot cheaper than acquisition.</p> <p style="font-weight: normal;">That means tracking preferences of these fans and alerting the club when a season ticket holder may be on the verge of abandoning the team. Tracked promotions are used to try to further engage these lapsing fans.</p> <p style="font-weight: normal;"><strong>Dynamic ticket pricing</strong></p> <p style="font-weight: normal;">With ticket pricing, many MLB teams have been tackling the resale market that's so prevalent and lucrative in sports.</p> <p style="font-weight: normal;"><a href="https://econsultancy.com/blog/65327-why-dynamic-pricing-is-a-must-for-ecommerce-retailers">Dynamic pricing </a>makes tickets affordable to all types of fans. Prices will rise for high demand games, making it harder for touts to make a good margin by buying up all these tickets with bots.</p> <p style="font-weight: normal;">This means that though ticket pricing will not be tackled (and some say there is an effect on game attendance), more of the overall revenue will go back to the club instead of resellers.</p> <p style="font-weight: normal;">The Red Sox is even willing to give away free seats based on ticket projections, in the knowledge that each fan spends an average of around $10 per game. Facilitating ticket exchange and ticket donation between fans is also another method of keeping control of tickets and maximising revenu.</p> <h3> <img src="https://lh3.googleusercontent.com/VcbosIAmVDmlsCWXz3tlMCKoXc1xjGP2F3GMkycxppxK4OCgYeD3Qw21vOWBorHAs7VQF3tsT9zyHk3I2bwBx4u7AknLv2T5wBuTVD42FWkDJ_UwLRvgu498urPLX055cpFa-b7N" alt="static pricing" width="577" height="178"> </h3> <p><strong>MLB Advanced Media</strong></p> <p>It's worth mentioning MLBAM. For years baseball was thought of as the old fashioned American sport, but MLBAM has been innovating since it was founded in 2000.</p> <p>MLBAM is a <a href="https://econsultancy.com/blog/67220-four-things-we-learned-about-live-streaming-at-the-festival-of-marketing">live streaming</a> pioneer in the US, streaming games since 2009 and now innovating in mobile streaming.</p> <p>Much like the recent improvements to NFL stadiums, MLBAM has created a mobile app for MLB attendance, called <a href="http://mlb.mlb.com/mobile/ballpark/">At The Ballpark</a>.</p> <p>The app allows fans to check-in to games, earn rewards, watch highlights, upgrade their seat and more. MLB also allows mobile tickets via Passbook.</p> <p><a href="http://www.forbes.com/sites/maurybrown/2014/07/07/the-biggest-media-company-youve-never-heard-of/#6058363e1dd4">This Forbes article</a> is a good primer to MLBAM, the company that's rapidly expanded horizontally into areas other than baseball.</p> <p><em>At The Ballpark app</em></p> <p><img src="https://assets.econsultancy.com/images/0007/2934/Screen_Shot_2016-03-11_at_16.24.09.png" alt="at the ballpark app" width="552" height="480"></p> <h3>Soccer - global and social</h3> <p>Digital technology is certainly still changing how clubs analyse player performance, though soccer falls behind more complex American sports in this regard, where real-time data is used pitch-side.</p> <p>As far as fan-oriented transformation is concerned, it's anyone's guess here.</p> <p>To some extent, the recent launch of <a href="http://bit.ly/1wrXZcI">digital transformation </a>(DT) intiatives, such as Chelsea's and <a href="https://econsultancy.com/blog/66892-manchester-united-kicks-off-digital-transformation-plan-to-improve-fans-experience/">Manchester United's respective partnerships with Indian specialists</a>, are long shots.</p> <p>These schemes will focus on emerging technologies and the transformation of the global fan's experience. Both clubs will have to be careful not to throw money at technology that doesn't yet have a solid use case.</p> <p>There's no doubt that a digital experience centre such as the one being designed for Old Trafford (Utd's stadium) offers a new way of engaging fans, but this doesn't exactly represent digital revenue, more a new type of tourist attraction.</p> <p><iframe src="https://www.youtube.com/embed/2IxzrZnfzaM?wmode=transparent" width="560" height="315"></iframe></p> <p><strong>Transformation partners - will they work?</strong></p> <p>Soccer outside of the US has perhaps traditionally been less of a level playing field than American sports such as NFL and MLB. That's because clubs are more independent of any particular league, with promotions and relegations playing a big part of many clubs' history. In the NFL, for example, the relationship between franchise and league is much closer.</p> <p>However, the majority of revenue for major UK soccer clubs, as with most team sports, comes from TV rights, sponsorship and gate receipts (see Manchester United's 2015 revenue below).</p> <p>With around £125m of commercial revenue coming from just two sponsors in 2015 (Adidas and Chevrolet), the question for Utd is whether digital tech is worth the investment in a sport so dominated by other revenue streams.</p> <p>At the moment, soccer clubs around the globe are stil characterised by a somewhat disparate mix of their own clunky video platforms and member areas, an online shop and a vast array of social network profiles.</p> <p>Most marketing departments are improving, but there's still a lot to do to improve use of data, quality of website infrastructure and fan communications.</p> <p>Of course, one thing that the biggest clubs have in their favour is an enormous following in many different parts of the world, with fairly sophisticated social media strategies in place to capitalise here. Clubs have already tapped in to these markets with merchandise and touring friendly games, the challenge is to maintain their fanbase amid the rise of new footballing powers (such as China).</p> <p>Using new tech may be vital for brand engagement globally but it will be two or three years, at least, before we see the wood for the trees. Part of me fears that big clubs will be seen as easy targets for transformation partners that focus on hardware and emerging tech, rather than 'low-hanging fruit'.</p> <p>(Facetious N.B. If soccer clubs begin use digital to improve the matchday experience, will there come a time when Newcastle United fans physically won't be able to throw their season ticket at their manager?)</p> <p><img src="https://assets.econsultancy.com/images/0007/2895/Screen_Shot_2016-03-11_at_09.17.23.png" alt="revenues at manchester united" width="615"></p> <h3>Basketball - data transparency</h3> <p>The NBA has had <a href="http://stats.nba.com/">a microsite devoted to stats </a>since 2013. Since its launch, game data from the '40s to present day has been released, too.</p> <p>Data, as we hinted above with the NFL, is transforming the way the fans and the media engage with the sport, but is also feeding back into the game.</p> <p>Indeed, these new NBA stats,<a href="https://econsultancy.com/blog/63799-how-digital-has-transformed-the-nba/"> as Bola Awoniyi points out</a>, have been responsible for many a debate about player worth and have contributed to coaches being replaced.</p> <p><img src="https://assets.econsultancy.com/images/0007/2935/Screen_Shot_2016-03-11_at_16.38.28.png" alt="nba stats" width="615"></p> <p><strong>Social is crucial</strong></p> <p>This is true of all sports but the NBA has taken this to its logical conclusion by not only engaging fans across platforms, but by giving fan engagement deeper meaning as a stat in itself.</p> <p>NBA Pulse allows fans to see which players are most popular during gametime on social media. It includes some great data visualisation and adds another angle on top of drafts and contracts with which to pump up the celebrity value of its biggest exports.</p> <p>Of all of the sports I've mentioned in this post, I admire basketball and the NBA for this religous understanding that data is valuable as an export.</p> <p><em>NBA Pulse</em></p> <h3> <img src="https://assets.econsultancy.com/images/0007/2936/Screen_Shot_2016-03-11_at_16.50.15.png" alt="nba pulse" width="615"> </h3> <p>For more on sports, read <a href="https://econsultancy.com/blog/66864-how-us-sports-leagues-use-content-marketing-to-increase-fans-and-drive-business/">How US sports leagues use content marketing to increase fans and drive business.</a></p> tag:www.econsultancy.com,2008:BlogPost/67617 2016-03-18T14:19:46+00:00 2016-03-18T14:19:46+00:00 Bridging the gap: uniting marketing and sales with employee advocacy Maz Nadjm <p>Especially when a revolution is in the making, with traditional business development strategies being transformed by digital.</p> <h3>Social sales - not yet a reality</h3> <p>So, with as much as 67% of the buyer’s journey now being done digitally (Cisco) and social media driving more than one third of all referral traffic, being present on social networks becomes an ultimate priority for sales teams everywhere. </p> <p>Although 80% of companies believe they would be more productive if their sales teams had a greater social media presence (The SMA Sales Management Association), factors like <a href="https://econsultancy.com/blog/67263-skills-shortage-the-biggest-barrier-to-digital-progress-overtaking-legacy-systems/">lack of digital confidence</a>, quality control and time are stopping sales teams from engaging effectively on social media. </p> <p>In this landscape, there is one department within a company where it’s usually more likely to find a good amount of digital and social media knowledge: Marketing.</p> <p><img src="https://assets.econsultancy.com/images/0007/2686/Screen_Shot_2016-03-03_at_19.25.21.png" alt="" width="550"></p> <h3>Bridging the Marketing-Sales gap </h3> <p>Thanks to the nature of their role, marketing professionals have a deep understanding of how digital communications work and are more familiar with the world of social media for business. </p> <p>Finally, they have a clear overview of all the content that is being created to promote and inform prospects about their organisation. For all these reasons, bridging the gap between marketing and sales is an opportunity that no company should pass on.</p><p>The benefits for both disciplines are far reaching. While a good amount of time and money is spent on the creation of innovative and relevant content (think images, infographics, GIFs, thought leadership pieces, campaigns) that could easily be used to start conversations with prospects, marketing tends not to have a process in place to pass this kind of information on to sales teams. </p> <p>This is what’s usually happening: monthly newsletters or sporadic messages on the company’s intranet go out, asking colleagues to copy-paste a specific article as a LinkedIn update or as part of a tweet. </p> <p>But even with great information, sales professionals often lack the<a href="https://econsultancy.com/training/courses/social-media-and-online-pr/"> social media training</a> needed to quickly post company messages online.</p> <p><em>Ashley Friedlein has previously advocated the Customer Director as a key role for uniting marketing and sales.</em></p> <p><img src="https://assets.econsultancy.com/images/0006/1400/Organisational_structure.png" alt="model for dt" width="615"></p> <h3>Kickstarting employee advocacy</h3> <p>Of course, it’s not simply a one-way street connecting marketing to sales.</p> <p>For instance, all the information sales teams gather on a daily basis regarding their clients’ and prospects’ pain points. This could be extremely useful for the marketing team to help forge appropriate messages, but easily gets lost without a dedicated strategy in place.</p> <p>To overcome this deadlock, an employee advocacy solution can be extremely useful. In a nutshell, it makes it easy for sales teams to have access to fresh, 100% on-brand content that can be used to reach thousands of contacts.</p> <p>Sales reps’ personal networks include a number of prospects and existing clients, representing an untapped source of new and relevant leads. The power of this network becomes fully clear when considering that leads developed through employee social marketing convert seven times more frequently than any other leads (IBM).</p> <p>Also, quality content should not be undervalued in relation to the sales process, as 65% of buyers feel that the vendor’s content has an impact on their final purchase decision (Brainy Marketer). </p> <p>Through employee advocacy, marketing teams can easily and effectively feed this content to their sales team, who are then enabled to share it with their online connections. </p> <p>Once empowered to share content on social media through an employee advocacy solution, sales professionals tend to share 50% more frequently than colleagues in other departments (SoAmpli). </p> <p>Also, because of the nature of their role, sales teams tend to be active on social media at times when colleagues in other department are not, for instance sharing (or scheduling posts to be shared) during evenings, weekends or holidays.</p> <p>A referred customer through social media is proven to be 4x more likely to close than a cold lead your sellers are trying to reach (LinkedIn). </p> <p>Selling is rapidly changing and sales reps need to adapt to the digital age of social selling. By implementing an employee advocacy programme, companies can empower their sales teams digitally, maximising leads and improving their profiles as social sellers.<br></p> <p><em>For more on marketing and sales, read Ashley Friedlein's post, <a href="https://econsultancy.com/blog/66736-marketing-and-sales-how-will-they-work-together-in-the-future/">Marketing and sales: how will they work together in future?</a></em></p> tag:www.econsultancy.com,2008:BlogPost/67661 2016-03-18T11:31:00+00:00 2016-03-18T11:31:00+00:00 Nine exciting digital marketing stats from the past week Jack Simpson <p>This week we’re covering the ever-present importance of managing the multichannel customer experience, email marketing benchmarks, the impending EU referendum and much more. </p> <p>Get those painkillers down you and have a read…</p> <h3>Multichannel biggest priority for digital marketers</h3> <p>97% of digital marketers surveyed for our recent report on <a href="https://econsultancy.com/blog/67596-digital-transformation-in-the-retail-sector-challenges-opportunities">digital transformation in the retail sector</a> say that optimising the customer journey across multiple touchpoints will either be quite or very important to their digital marketing over the next few years.</p> <p>A further 96% say ensuring consistency of message across channels is either quite or very important, suggesting marketers are taking the multichannel customer experience extremely seriously.</p> <p><strong>Q: How important will the following be for your digital marketing over the next few years?</strong></p> <p><img src="https://assets.econsultancy.com/images/0007/2512/Optimising_customer_journey_Retail.JPG" alt="biggest priorities for digital marketing 2016" width="700"></p> <h3>Email open rates are on the rise</h3> <p>Average open rates for emails in the UK increased 0.43% year-on-year (YoY) to 24.88%, according to <a href="https://econsultancy.com/blog/67649-the-ultimate-2016-email-marketing-benchmark-guide">a new email benchmarking report</a> from Sign-up.to.</p> <p>Other key findings include:</p> <ul> <li>Click-through rate (CTR): <strong>3.42%</strong> (up 0.29% YoY).</li> <li>Unsubscribes: <strong>0.52%</strong> (down 0.03% YoY).</li> <li>Click-to-open (CTO) rates: <strong>10.88%</strong> (up 0.09% YoY).</li> <li>Unsubscribe-to-open (UTO) rates: <strong>2.72%</strong> (up 0.04% YoY).</li> </ul> <h3>Instagram sees drop in interactions</h3> <p>Average interactions with posts on Instagram dropped from 4.96 to 3.10 between January and December last year, according to <a href="https://www.quintly.com/blog/2016/03/instagram-study-2015/%20">a new study by Quintly</a>.</p> <p>Presumably Instagram feels like this could be partly driven by the way the site’s timeline is sorted, given <a href="https://econsultancy.com/blog/67655-three-reasons-instagram-s-algorithmic-timeline-is-yet-another-terrible-idea/">its recent decision to make it algorithmic</a> and show people what it thinks they will be most interested in.</p> <p><em>Interaction rate on Instagram over time (all interactions divided by number of posts and followers)</em></p> <p><img src="https://assets.econsultancy.com/images/0007/3116/Screen_Shot_2016-03-17_at_15.21.38.png" alt="Drop in Instagram interactions" width="536" height="403"> </p> <h3>Search data shows Brits still unclear on EU referendum </h3> <p>With under 100 days until the EU referendum, search data shows that people in the UK are still not sure what either decision would mean for the country, according to a new report by Hitwise, a division of Connexity. </p> <p>Other key findings include:</p> <ul> <li> <strong>18-25 year olds</strong> are five times more likely to search for ‘EU Referendum Wiki’ than 55+ year olds, who instead opt for the ‘BBC News Referendum’ (167% more likely to search ‘BBC News Referendum’ compared to 18-25 year olds)</li> <li>Men search for phrases such as ‘question’, ‘facts’ and ‘odds’ over 100% more often than women.</li> <li>18-25 year olds are 33% are more likely to search for <strong>‘register to vote’</strong> than those 55+.</li> <li>18-25 year olds are nine times more likely to search for the ‘latest’ EU Referendum opinion than those aged 55+.</li> <li>Over 55s are still trying to get their head around the news, searching five times more for <strong>‘EU Referendum explained’</strong> than their younger counterparts.</li> <li>‘Boris Johnson’ appears to be resonating with the older generation in the run up to the EU Referendum, with 55+ year olds searching five times more than those aged between 18-25.</li> <li>Men are <strong>122%</strong> more likely to search for Boris Johnson than women </li> </ul> <h3>61% of travel loyalty programme members want more choice of rewards</h3> <p>Just over six in ten travel <a href="https://econsultancy.com/blog/67568-starbucks-shows-perils-of-loyalty-program-changes">loyalty programme</a> members look for programmes with a greater choice of rewards, while 71% say the value of a loyalty programme decreases when the range of rewards is limited, according to a new survey by Collinson Latitude. </p> <p>Other key findings include:</p> <ul> <li>42% of programme members think programmes offering only core inventory rewards are dated and old-fashioned.</li> <li>40% would tell friends and family about a programme following a positive redemption experience, while 33% would actively encourage them to join the programme.</li> <li>59% would buy a brand’s core inventory whenever possible following a positive redemption experience.</li> </ul> <h3>Facebook beats email and Twitter for retail customer service</h3> <p>Between Facebook, Twitter and email, Facebook performs best when it comes to customer services, according to <a href="http://www.eptica.com/eptica-uk-retail-multichannel-customer-experience-study%20">a new study by Eptica</a>. </p> <p>The study found that UK retailers could answer 59% of questions asked on Facebook, 55% on email and 45% on Twitter, and just 10% provided consistent responses across all three channels.</p> <p>Other key findings include:</p> <ul> <li>Entertainment retailers finished bottom, answering just 38% of questions on the web, email and Twitter, followed by food and wine (60%), consumer electronics retailers (55%) and fashion (68%).</li> <li>Company websites <strong>answered an average of 66% of queries</strong>, up just 1% since 2015.</li> <li>Only 88% of companies (10% fewer than in 2015) made email available to non-customers.</li> <li> <strong>Twitter was the fastest channel</strong> for an answer, with an average response time of 5 hours 40 minutes, ahead of Facebook (6 hours 36 minutes).</li> </ul> <h3>TV accounted for 76% of the UK’s total video consumption in 2015</h3> <p>Despite massive increases in online video viewing, TV is still very much the dominant channel, according to Thinkbox’s latest report, <em><a href="https://www.thinkbox.tv/News-and-opinion/Newsroom/A-year-in-TV%20">A year in TV</a></em>.</p> <p><img src="https://assets.econsultancy.com/images/0007/3117/Screen_Shot_2016-03-18_at_10.37.59.png" alt="TV consumption in the UK report" width="700"></p> <p>Other key findings include: </p> <ul> <li> <strong>TV ad revenue surpassed the £5bn mark</strong> for the first time in 2015, with a sixth consecutive year of growth.</li> <li>33% of media-driven Facebook interactions are created by TV ads.</li> <li>Viewers aged 16 to 24 watched more than twice as much TV on other devices as the average viewer in 2015.</li> </ul> <h3>Mums relate to 66 different identities</h3> <p>UK mothers relate to 66 distinct identities and define themselves with at least six of these on average, according to <a href="http://www.mumsnet.com/surveys/marketing-to-mums-2016">a new survey by Mumsnet</a>.  </p> <p>Other key findings include:</p> <ul> <li>19% of mothers report seeing ads that depicted them in a way they could relate to.</li> <li>The four most important identities are lone parents (2.3m), mums of children with special needs (1.4m), mums of teenagers (6m) and self-employed mums (1.7m).</li> <li>The top 10 identities also included mothers with children at secondary school (31%), those who live in a town (28%), mums who had a caesarean section (22%) and mums who work out of home (17%).</li> </ul> <h3>Global adspend to hit £387bn in 2016</h3> <p>Global adspend is expected to increase 4.4% in 2016 to hit $561bn (£387bn), according to <a href="http://content.warc.com/read-warc-global-adspend-outlook-2016-2017">the latest forecast from Warc</a>. </p> <p>Other key findings include: </p> <ul> <li> <strong>$90bn will be spent on mobile ads</strong> in 2017 (44% of all online ad investment).</li> <li>Adspend on mobile search expected to hit $40bn by end of 2017 (double 2015 levels).</li> <li>Overall global adspend growth will drop to 3.7% next year, with almost all regions experiencing slowed growth. </li> </ul> <h3>Timely and vaguely relevant stat of the week…</h3> <p><strong>On this day in 1999,</strong> France's largest music retailer, Fnac, became the first major European music retailer to sell song downloads on its website.</p> <h3>For lots more up-to-date statistics…                                           </h3> <p>Download Econsultancy’s <a href="https://econsultancy.com/reports/internet-statistics-compendium/?utm_source=Econ%20Blog%20&amp;utm_medium=Blog&amp;utm_campaign=BLOGSTATS">Internet Statistics Compendium</a>, a collection of the most recent statistics and market data publicly available on online marketing, ecommerce, the internet and related digital media.</p> <p>It’s updated monthly and covers 11 different topics from advertising, content, customer experience, mobile, ecommerce and social.</p>