tag:www.econsultancy.com,2008:/topics/digital-transformation Latest Digital Transformation content from Econsultancy 2017-08-21T04:30:07+01:00 tag:www.econsultancy.com,2008:ConferenceEvent/899 2017-08-21T04:30:07+01:00 2017-08-21T04:30:07+01:00 Digital Intelligence Briefing 2017 <p>We know the <a href="https://econsultancy.com/events/digital-intelligence-briefing-2017-2/" target="_blank">first Digital Intelligence Briefing</a> is not enough to cover the entire digital marketing spectrum. This second Digital Intelligence Briefing will continue to highlight the most important digital trends and developments (curated by our research analysts) you should be aware about, and also sharing the latest trends, best practices and data on digital ROI and customer experience.</p> <p>Join us at this half-day session as we curate and highlight the key digital trends, challenges, opportunities and developments that are going to affect how markets are operating, what tools are being used, and how digital marketing practices are changing - making it simple for you to keep track of the key developments in digital technology and marketing.</p> tag:www.econsultancy.com,2008:BlogPost/69324 2017-08-14T15:05:00+01:00 2017-08-14T15:05:00+01:00 10 companies with a digital culture Ben Davis <p>But what is a 'digital culture'? Friedlein <a href="https://econsultancy.com/blog/67397-ashley-friedlein-s-10-digital-marketing-ecommerce-trends-for-2016/">suggests</a> there are seven defining characteristics of a digital culture:</p> <ol> <li>Customer-centric</li> <li>Data-driven</li> <li>Makers and doers</li> <li>Transparent</li> <li>Collaborative</li> <li>Learning</li> <li>Agile</li> </ol> <p>I thought it might be useful to highlight companies (10 in total) that each embody one of these characteristics. Here goes...</p> <h3>1. Customer-centric - Amazon</h3> <p>It may seem a hackneyed case study now, but that's because Amazon really does walk-the-walk when it comes to championing the customer.</p> <p>Infamous examples of customer-centricity at Amazon include managers undertaking two days of call centre training each year, so they truly understand the customer perspective, and Jeff Bezos taking an empty chair to meetings, claiming it represents the customer's seat in the room.</p> <p>This customer obsession has paid off in the long run. As Bezos puts it, "If you're competitor-focused, you have to wait until there is a competitor doing something. Being customer-focused allows you to be more pioneering."</p> <p><img src="https://assets.econsultancy.com/images/0008/8257/chair.jpeg" alt="chair" width="233" height="216"></p> <p><em>The customer's seat in the room</em></p> <h3>2. Data-driven - Google</h3> <p>Okay, I'm getting all the easy answers out of the way early on. But let's use focus on one illuminating application of Google's data science acumen - HR.</p> <p>Laszlo Bock, former SVP of People Operations at Google, has written about the HR department's ‘three thirds’ hiring model - recruiting some from traditional HR backgrounds, others from a consultancy background and, crucially, still more from academic fields such as science and mathematics.</p> <p>Google uses ‘people analytics’ to look for patterns in recruitment and retention, employee wellbeing, performance and tenure, and ultimately to define job roles with more than just words.</p> <p>Bock told The Wharton School in <a href="http://knowledge.wharton.upenn.edu/article/open-sourcing-googles-hr-secrets/">an interview</a> that the only way to truly measure the effect of a manager’s performance on his or her team be to make people switch teams. It’s a case of taking “two..groups — it doesn’t matter if they’re five-person groups or 500-person groups … and say, ‘We’re going to treat them differently, and let’s see what happens.’”</p> <p><img src="https://assets.econsultancy.com/images/0008/8254/g.png" alt="GOOGLE" width="470" height="157"></p> <h3>3. Makers and doers - BuzzFeed &amp; Hive</h3> <p>The makers invent and innovate, the doers are able to envision the big picture and point the company in that direction.</p> <p>I always think of BuzzFeed as a company full of makers and doers. It started with a new approach to social publishing, including hugely successful visual content, has pioneered new forms of native advertising, but has also explored seemingly tangential product ideas (for a publisher), <a href="https://shop.buzzfeed.com/">such as online retail</a>, as the company spies ways to improve its proposition.</p> <p>Another great example of this approach is the <a href="https://tastyonetop.com/">Tasty One Top</a>. This is a hotplate designed to work alongside BuzzFeed's new Tasty app, a home for all its Tasty video recipes. The hotplate syncs with your phone, setting the right temperature for you and chiming to let you know when to move on to the next step. There are clearly makers and doers at work here.</p> <p>Granted, the term 'makers and doers' can apply to more obvious companies, such as British Gas and its <a href="https://econsultancy.com/blog/67099-hive-a-startup-culture-in-a-corporate-behemoth/">development of the Hive connected thermostat</a>, but I wanted to tip my hat to BuzzFeed.<br></p> <p><img src="https://assets.econsultancy.com/images/0008/8255/TASTY.jpeg" alt="ONE TOP" width="275" height="183"></p> <p><em>The One Top</em></p> <h3>4. Transparent - Buffer &amp; Monzo</h3> <p>We have previously highlighted brands with a <a href="https://econsultancy.com/blog/67107-five-digital-organisations-with-a-transparent-company-culture/">transparent company culture</a>. My favourite is social media management platform Buffer which espouses a 'default to transparency' maxim.</p> <p>This includes the publication of all emails sent internally within the company - a list is cc'ed which is accessible to others in that department, and ultimately to the whole organisation. The Buffer blog explains that this policy of transparent email gives workers the ability to work 'surprise free'.</p> <p>Here is Buffer's 'default to transparency' policy in full:</p> <ul> <li>You take pride in opportunities to share our beliefs, failures, strengths and decisions.</li> <li>You use transparency as a tool to help others.</li> <li>You always state your thoughts immediately and with honesty.</li> <li>You share early in the decision process, to avoid 'big revelations'.</li> </ul> <p>Transparency, of course, is external as well as internal. There are many other companies, <a href="https://econsultancy.com/blog/68866-monzo-outage-is-it-possible-to-fail-in-a-good-way/">notably Monzo</a>, which are showing their inner workings to their customers and using honesty to enable them to fail gracefully.</p> <p><img src="https://assets.econsultancy.com/images/0008/4398/another_card.jpg" alt="monzo comms" width="300"></p> <p><em>An example of speedy Monzo comms</em></p> <h3>5. Collaborative - Basecamp</h3> <p>At face value, Basecamp not seem a good model for a collaborative company. For a start, each employee is free to live and work where they please, most doing so from home and from all over the world.</p> <p>The Chicago office is known to be very quiet, with <a href="https://blog.jabra.com/the-most-productive-and-collaborative/">reports</a> of 'no-talk Thursdays', as well as four day weeks in the summer months.</p> <p>But this is all part of co-founder Jason Fried's philosophy -  encapsulated in a TED talk titled “Why work doesn’t happen at work“). Fried <a href="https://qz.com/954675/this-company-trusts-its-employees-so-much-it-has-a-no-limits-expense-policy/">believes</a> technology has led to to much communication and co-dependency in the workplace - he experiments with self organization, where workers report to each other, rather than managers.</p> <p>At the heart of this belief is the idea that hiring the right people is the most important part of collaboration, and those people should be treated in the right way (see Basecamps <a href="https://m.signalvnoise.com/employee-benefits-at-basecamp-d2d46fd06c58">list of benefits</a>). This includes week-long get-togethers a couple of times a year where they focus on relationships, rather than business as usual. </p> <p>Technology does help with collaboration, too, with workers using online chat platforms to solve problems amongst themselves. On the whole, Basecamp's committment to easy-to-use products and speedy customer service dictates an atmosphere where collaboration is just as efficient.</p> <p><img src="https://assets.econsultancy.com/images/0008/8256/basecamp.png" alt="basecamp" width="615"></p> <h3>6. Learning - Co-Op &amp; Fjord</h3> <p>There's a fair amount of theory behind '<a href="https://en.wikipedia.org/wiki/Organizational_learning#Development_of_learning_organizations">learning organisations</a>'. Harvard Business Review lists a number of prerequisites to build such an orgainsation - a supportive learning environment, concrete learning processes and practices and leadership that encourages learning.</p> <p>Though learning organisations can seem like a bit of a nebulous concept, I like to focus on the idea of a company being open to new ideas (and failures), reflective about its current practices and appreciative of diversity.</p> <p>There are plenty of companies aspiring to these values in 2017. Two companies that come to mind are Fjord and the UK's Co-Op. Fjord is <a href="https://econsultancy.com/blog/68840-culture-and-digital-transformation-how-to-build-a-living-business/">investing heavily</a> in design leadership, diversity, a global training program (Evolution) and peer learning.</p> <p><a href="https://digitalblog.coop.co.uk/">Co-Op's digital blogs</a> are a fantastic example of an open and reflective culture, and include many examples of learning processes and practices coming into being (e.g. <a href="https://digitalblog.coop.co.uk/2017/08/01/what-weve-learnt-in-digital-product-research-adapting-research-techniques/">What we've learnt in digital product research</a>). In the video below, a software developer explains what it's like to work in this problem solving atmosphere at Co-Op.</p> <p><iframe src="https://www.youtube.com/embed/ibCwOIF2484?ecver=2&amp;wmode=transparent" width="640" height="360"></iframe></p> <h3>7. Agile - Government Digital Service</h3> <p>As I write this, I see that the UK's GDS has announced it is now focusing on quarterly missions, rather than annual ones. Here's part of <a href="https://gds.blog.gov.uk/2017/08/14/quarterly-missions-a-new-way-of-working/">the statement</a> from the GDS blog:</p> <blockquote> <p>The scope of the mission is flexible but the length of the mission is fixed. No mission is longer than 11 weeks. It might be the case that a theme extends over the course of the year, but we want iterative and complete delivery every 11 weeks, in case we need to change direction or stop. This will also help us to continually deliver value.</p> </blockquote> <p>GDS has pioneered an Agile approach in government since the start of GOV.UK, even producing a publicly available <a href="https://www.gov.uk/service-manual/agile-delivery">service manual for Agile delivery</a>. The guide provides advice on an Agile working environment, tools and techniques, user stories and planning.</p> <p>As the guide states, Government services need to be able to respond quickly to policy changes and the needs of the public. Agile is much better at this than Waterfall, especially when coping with changes to technology.</p> <p><em><strong>That's your lot. Which companies would you slot into these seven categories, and which have excellent digital cultures? Let us know below.</strong></em></p> tag:www.econsultancy.com,2008:BlogPost/69310 2017-08-04T11:57:14+01:00 2017-08-04T11:57:14+01:00 What is digital transformation? [video] Ashley Friedlein <p>So here we are chatting about what digital transformation is, including challenges around people, culture, talent, leadership and process. We discuss ways you can measure levels of digital transformation and get into business model disruption, and trends including <a href="https://www.econsultancy.com/reports/trend-briefings-artificial-intelligence-ai">artificial intelligence</a>, <a href="https://econsultancy.com/blog/68770-an-introduction-to-ai-and-customer-service/">conversational interfaces</a>, chatbots, driverless cars and more. </p> <p>So grab your own brew of choice, watch our chat, and feel free to ask questions or make your own comments below and we'll continue the discussion there.</p> <p><iframe src="https://www.youtube.com/embed/_LbtWZ0-LVE?wmode=transparent" width="425" height="350"></iframe></p> <p><strong><em>If your business needs help with Digital Transformation, <a href="https://econsultancy.com/training/digital-transformation/">get in touch with Econsultancy</a>. </em></strong></p> tag:www.econsultancy.com,2008:WebinarEvent/897 2017-08-03T10:02:41+01:00 2017-08-03T10:02:41+01:00 Ask Me Anything - Digital Transformation: Getting Started <p><img src="https://assets.econsultancy.com/images/0008/8065/ask-me-anything_landing-page.png" alt="" width="552" height="277"></p> <p>Ask Me Anything is our new interactive webinar series designed for you to discuss strategies and pick the brains of our experts when it comes to your digital transformation.</p> <p>For the first Ask Me Anything session, we will be exploring what Digital Transformation is all about:</p> <ul> <li>What does Digital Transformation actually mean?</li> <li>Roles &amp; responsibilities of the people involved</li> <li>How and where to start the digital transformation process</li> </ul> <p>Our panel of Econsultancy experts are <strong>Eu Gene Ang</strong>, Lead Trainer, Asia, <strong>Damien Cummings</strong>, Entrepreneur-in-Residence &amp; Principal Consultant, APAC, and <strong>Jeff Rajeck</strong>, Research Analyst, APAC.</p> <p>Register for the webinar and <strong><a href="https://docs.google.com/forms/d/e/1FAIpQLSeEwN7RdoocOUqr_PoAMuSuyw2zBy0Lyoe7NnNtxcyu1Z7eHw/viewform" target="_blank">submit your questions</a></strong> by <strong>25th August 2017</strong>. Each successful question submission will be entitled to a chance to win a ticket (worth SG$375) to <strong><a href="https://convergence.events/" target="_blank">Convergence 005</a> </strong>(18th September, Marina Bay Sands Singapore). We aim to answer all the questions during the webinar session.</p> <p>Tweet about the webinar using the hashtag <strong>#EconAMA</strong>.</p> <p><strong>Webinar done in collaboration with:</strong>   <a href="https://www.ntuc.org.sg/uassociate/" target="_blank"><img src="https://assets.econsultancy.com/images/resized/0008/7981/ua_logo-blog-flyer.png" alt="" width="205" height="50"></a></p> <p><strong>FAQ:</strong></p> <p><strong>I'm not an Econsultancy subscriber, can I join?</strong></p> <p>Ans: You sure can. The sessions are complimentary for existing customers and new friends.</p> <p><strong>Will the session be recorded?</strong></p> <p>Ans: Yes! We record all of our webinars, and we'll send out a link to the recording the following week.</p> <p><strong>What if I register but can't make it?</strong></p> <p>Ans: It's all good. We'll send a follow-up with key takeaways and a link to the recording.</p> <p><strong>Can I ask questions?</strong></p> <p>Ans: Absolutely! This session is for you. Please <strong>submit your questions <a href="https://docs.google.com/forms/d/e/1FAIpQLSeEwN7RdoocOUqr_PoAMuSuyw2zBy0Lyoe7NnNtxcyu1Z7eHw/viewform" target="_blank">here</a></strong> and hear our experts respond to your questions at the live webinar.</p> tag:www.econsultancy.com,2008:BlogPost/69254 2017-07-20T09:44:00+01:00 2017-07-20T09:44:00+01:00 Four key digital challenges for IT leaders in 2017 Nikki Gilliland <p>Based on a sample of more than 500 IT leaders, here are a few key charts from the research, highlighting the biggest hurdles IT professionals currently face.  </p> <h3>1. Threat of security breaches</h3> <p>While technical skill is still a given, the role of senior executive within IT departments has evolved into something much broader, requiring a deeper understanding of business objectives. This also means creating a bridge between technology and other areas of the business such as HR, finance, and marketing. </p> <p>This focus on the wider customer experience has also led to the concept of the ‘chief integration officer’ – someone who is able to influence the overall strategic vision of a business. Following on from this, it is clear that the challenges faced by IT leaders are much more complex than they once were.</p> <p>Now, the threat of security breaches and cyber-attacks is cited as a key concern by 41% of respondents – higher than any other area.</p> <p>Perhaps unsurprisingly, executives at organisations with annual revenues exceeding £150m are more likely than their peers at smaller organisations to reference security as a major challenge.</p> <p><img src="https://assets.econsultancy.com/images/0008/7501/Security_attacks.JPG" alt="" width="780" height="535"></p> <h3>2. Finding the right mix of skills</h3> <p>Interestingly, it is larger organisations that cite lower levels of confidence in their digital skills mix, with just 58% agreeing that they are well-positioned in this area compared to 61% of smaller organisations. </p> <p>Similarly, European organisations seem less confident than their American and APAC counterparts. Talent availability is seen as more of a challenge than in other regions, with availability of individuals with the right mix of skills being cited as a top-three internal problem by more than 34% of European respondents.</p> <p>This is also the case when it comes to culture, with 61% of European respondents describing their company culture as "innovative, adaptable and undertaking a ‘fail fast’ approach". When compared with 68% of respondents saying the same for North America and 75% in APAC, it’s clear that Europe is still playing catch up.</p> <p><img src="https://assets.econsultancy.com/images/0008/7504/Skills_and_culture.JPG" alt="" width="739" height="618"></p> <h3>3. Escaping silos</h3> <p>In terms of internal barriers, it appears the age-old problem of organisational structure remains the biggest. 42% of executives cited frustration with departmental silos and bureaucratic processes, while 41% expressed frustration over integrating legacy systems with new tools and technologies.</p> <p>This is even more the case for larger organisations in Europe, with 52% of European respondents citing bureaucracy as a top internal barrier.</p> <p>Interestingly, while support from senior management is less of a concern, a lack of shared vision relating to the meaning of digital transformation appears to be sustaining conflict. Again, this challenge is slightly more evident in Europe, tying in with the aforementioned struggles of skills and culture.</p> <p><img src="https://assets.econsultancy.com/images/0008/7506/Silos.JPG" alt="" width="780" height="541"></p> <h3>4. Keeping abreast of innovation</h3> <p>With IT executives now expected to help drive marketing strategy, keeping ahead of major technologies connected to innovation is another growing challenge – especially for larger organisations.</p> <p>46% of executives at larger companies are more inclined to feel pressure regarding tracking technology and innovation trends compared to 36% of smaller company peers. Interestingly, IT executives appear to be looking outside of their organisations to keep abreast of technological innovation. More than half of respondents say they exploit technology content sites and webcasts and webinars.</p> <p>Lastly, the challenge to keep on top of innovation also extends to finding talent, with increasing importance in striking a balance between traditional technical knowledge and softer skills such as communication, co-operation and strategic thinking.</p> <p><img src="https://assets.econsultancy.com/images/0008/7508/Innovation.JPG" alt="" width="780" height="550"></p> <p><em><strong>Subscribers can download the full <a href="https://econsultancy.com/reports/2017-digital-trends-in-it/">2017 Digital Trends in IT Report</a>.</strong></em></p> tag:www.econsultancy.com,2008:Report/4535 2017-07-20T09:35:00+01:00 2017-07-20T09:35:00+01:00 2017 Measurement and Analytics Report <p>Never have marketers, analysts and ecommerce professionals had more data to work with as part of their ongoing efforts to improve business and organisational performance.</p> <p>At the same time, the growing challenge for individuals and organisations alike has been to avoid being overwhelmed by proliferating sources of data and metrics across a burgeoning number of marketing channels and technology platforms.</p> <p>The <strong>2017 </strong><strong>Measurement and Analytics Report</strong>, produced by Econsultancy in partnership with analytics consultancy <strong><a href="http://www.lynchpin.com/">Lynchpin</a></strong> for the tenth year running, looks at how organisations are using data strategically and tactically to generate insights and to improve business performance.</p> <p>The report aims to cut through the noise to understand how companies are using measurement and analytics to boost revenue and profit growth, while also looking at the types of technology and data which are used to meet these ends.</p> <p>The research, based on a survey of almost 1,000 digital professionals, focuses on the important role for data and analytics in supporting their attempts to build a competitive advantage by becoming more customer-centric. The report also explores how the worlds of data science and digital analytics are converging as companies strive to extract valuable insights from a wealth of information relating to digital activity in the context of the wider business.</p> <h2>What you'll learn from this research</h2> <ul> <li>Understand how analytics can help to meet financial goals and what the most common growth and profit-related requirements are.</li> <li>Discover how organisations are using data and analytics to build a competitive advantage by becoming more customer-centric.</li> <li>Benchmark the make-up of your analytics or data team and investment plans against those of your peers.</li> <li>Find out where the biggest analytics skills gaps are and what the most common challenges related to deploying tools and technologies organisations face.</li> </ul> <h2>Key findings from the report</h2> <ul> <li>The majority of companies (64%) do not have a documented data analytics strategy.</li> <li>Only 50% of organisations report executive sponsorship of analytics.</li> <li>Half of organisations surveyed regard digital analytics as ‘very important’ to their digital transformation programme (a jump from 43% in 2016).</li> </ul> <h2>Contributors</h2> <p>Econsultancy would like to thank the following people for their contributions to this report:</p> <ul> <li>Amiy Chatley, Digital Analytics Manager, TUI</li> <li>Matteo Fava, Global Head of Analytics, Delivery Hero</li> <li>Graeme McDermott, Chief Data Officer, Addison Lee</li> <li>Andrew Morris, ‎Head of Digital Insight Delivery, RS Components</li> <li>Alejandro Pereda, Head of Insight, Euromoney Institutional Investor plc</li> </ul> <p><strong>Download a copy of the report to learn more.</strong></p> tag:www.econsultancy.com,2008:Report/4507 2017-07-20T08:45:00+01:00 2017-07-20T08:45:00+01:00 Digital Intelligence Briefing: 2017 Digital Trends in IT <p>The <strong>2017 Digital Trends in IT </strong>report, based on the seventh annual trends survey conducted by Econsultancy and <a title="Adobe" href="http://www.adobe.com/marketing-cloud.html">Adobe</a>, explores the digitally-driven opportunities and challenges facing organisations from the perspective of IT professionals.</p> <p>IT is now seen as an increasingly strategic function within the business, and pivotal to organisational attempts to embrace digital transformation and customer experience initiatives. It is no longer sufficient for the IT department to act merely in a support role when it comes to delivering against the company’s overarching business objectives. IT leaders need to take ownership and drive change within the modern, digitally-enabled organisation.</p> <p>The research is based on data from more than 500 IT leaders (manager level or above) who were among more than 14,000 digital professionals taking part in the seventh annual Digital Trends survey, carried out in November and December 2016.</p> <h3>The following sections are featured in the report:</h3> <ul style="font-weight: normal;"> <li>What keeps IT leaders up at night?</li> <li>2017 priorities for success</li> <li>Challenges of digital transformation</li> <li>Actionable tips to help future-proof your IT function</li> </ul> <h3>Findings include:</h3> <ul> <li>There is heightened pressure on IT practitioners to stay abreast of customer trends, and to deliver infrastructures that enable the real-time and personalised services users increasingly expect in the digital age. <strong>Keeping up with changing customer expectations and behaviour</strong> was cited as a key challenge by 40% of respondents, a greater proportion than those worried about keeping IT systems up and running.</li> <li> <strong>The threat of security breaches and cyber-risk threats</strong> is cited as a key concern by a higher proportion of respondents (41%) than any other area, and security of business and customer data is the most commonly cited IT leader priority for 2017.</li> <li>Larger organisations are less confident than their smaller counterparts when it comes to the <strong>adequacy of digital skills and talent</strong> within their business. With the rise of digital transformation, data scientists are at a premium, and few organisations have all the resources they need to make use of new analytics tools and capabilities.</li> <li>The impact of digital technology on workflows within organisations has been vast, affecting every business function from HR to finance, and marketing to procurement. Nearly half (49%) of IT executives indicate they have prioritised <strong>enhancement of digital workflows</strong>, for example via cloud-based tools, for 2017.</li> <li> <strong>Keeping ahead of major technology connected to innovation</strong> is another key challenge for IT leaders. Executives at large companies are notably more inclined to feel pressure regarding tracking technology and innovation trends than smaller company peers (46% versus 36%).</li> </ul> <p style="font-weight: normal;"><strong>Econsultancy's Digital Intelligence Briefings, sponsored by <a title="Adobe" href="http://www.adobe.com/marketing-cloud.html">Adobe</a>, look at some of the most important trends affecting the marketing landscape. </strong><strong>You can access the other reports in this series <a title="Econsultancy / Adobe Quarterly Digital Intelligence Briefings" href="http://econsultancy.com/reports/quarterly-digital-intelligence-briefing">here</a>.</strong></p> tag:www.econsultancy.com,2008:WebinarEvent/887 2017-07-13T08:49:27+01:00 2017-07-13T08:49:27+01:00 Digital Transformation in the B2B Sector <p>This webinar will highlight results from Econsultancy's upcoming report, Digital Transformation in the B2B Sector.</p> <p>The live session will be hosted by <strong>Jeff Rajeck, Research Analyst, APAC at Econsultancy</strong>.</p> <h4>Webinar done in collaboration with:  <a href="https://www.ntuc.org.sg/uassociate/" target="_blank"><img src="https://www.ntuc.org.sg/uassociate/images/logo.png" alt="NTUC (U Associate)" width="341" height="101"></a> </h4> <p><strong>FAQ:</strong></p> <p><strong>I'm not an Econsultancy subscriber, can I join?</strong></p> <p>Ans: You sure can. The sessions are complimentary for existing customers and new friends.</p> <p><strong>Will the session be recorded?</strong></p> <p>Ans: Yes! We record all of our webinars, and we'll send out a link to the recording the following week.</p> <p><strong>What if I register but can't make it?</strong></p> <p>Ans: It's all good. We'll send a follow-up with key takeaways and a link to the recording.</p> <p><strong>Can I ask questions?</strong></p> <p>Ans: Absolutely! This session is for you. Bring your questions and participate during Q&amp;A.</p> tag:www.econsultancy.com,2008:WebinarEvent/886 2017-07-12T05:36:58+01:00 2017-07-12T05:36:58+01:00 Digital Transformation in the Financial Services and Insurance Sector <p>This webinar will highlight results from Econsultancy's new report, <a href="https://econsultancy.com/reports/digital-transformation-in-the-fsi-sector-gearing-up-for-success-in-a-changing-market/" target="_blank">Digital Transformation in the Financial Services and Insurance Sector</a>.</p> <p>The live session will be hosted by <strong>Jeff Rajeck, Research Analyst, APAC at Econsultancy</strong>.</p> <h4>Webinar done in collaboration with:  <a href="https://www.ntuc.org.sg/uassociate/" target="_blank"><img src="https://www.ntuc.org.sg/uassociate/images/logo.png" alt="NTUC (U Associate)" width="341" height="101"></a> </h4> <h4> </h4> <p><strong>FAQ:</strong></p> <p><strong>I'm not an Econsultancy subscriber, can I join?</strong></p> <p>Ans: You sure can. The sessions are complimentary for existing customers and new friends.</p> <p><strong>Will the session be recorded?</strong></p> <p>Ans: Yes! We record all of our webinars, and we'll send out a link to the recording the following week.</p> <p><strong>What if I register but can't make it?</strong></p> <p>Ans: It's all good. We'll send a follow-up with key takeaways and a link to the recording.</p> <p><strong>Can I ask questions?</strong></p> <p>Ans: Absolutely! This session is for you. Bring your questions and participate during Q&amp;A.</p> tag:www.econsultancy.com,2008:BlogPost/69195 2017-07-11T14:00:00+01:00 2017-07-11T14:00:00+01:00 The tech & CX challenge: Playing safe doesn't cut it any more Blake Cahill <h3>Startup to global phenomenon</h3> <p>This change in tide has come to the forefront due to the recent wave of tech-savvy startups that have turned into successful global businesses overnight. Think Uber, Snapchat, Facebook and Deliveroo. With the success of these new organisations comes a new way of doing things, placing technology firmly at the heart of their core business strategy, underpinning everything they do. </p> <p>Because of this, it’s no surprise that consumers have become more tech savvy as well. With the rise of social media platforms and the ‘always connected, always on’ philosophy, consumers want to choose the playing field.</p> <p>The good news for the newer companies emerging on the scene is that they are proving to be a lot more nimble when it comes to change. They have the ability to make dramatic alterations to the way they operate with little notice, and without the usual bureaucracy that you would find in older, longer standing businesses. Because of this, they can improve and transform at a dramatic rate, providing consumers with the experience they require, and demand, in a relatively short space of time. </p> <p>For some longer standing organisations, the ability to quickly overhaul the way they do things has proven to be a challenge. With older, more complicated legacy technology systems in place, some organisations are finding it harder to provide improved customer experience as quickly or as perfectly as their more agile competitors. A recent <a href="https://www.gartner.com/marketing/customer-experience/">Gartner study</a> predicted that by 2017, 89% of marketers expect customer experience to be their primary differentiator. </p> <p>We know from listening to our customers at Philips that one of the key drivers of customer experience is speed. Because of this, we made Philips consumer care accessible through mobile messaging apps like WhatsApp, Facebook Messenger and WeChat to try and make it as easy as possible for customers to reach out whenever and wherever they like.</p> <h3>Every business is a tech business</h3> <p>To cope with this changing customer demand, big businesses with legacy systems in place need to be on the forefront of technology change to keep up. To put this in to play, here at Philips we pushed for a strong emphasis on leveraging the use of mobile technology to empower our customers and pass control over to them.</p> <p>Whether it’s providing young parents with insights into their baby’s development via the <a href="http://www.philips.co.uk/c-m-mo/ugrow-healthy-baby-development-app">uGrow app</a>, or enabling kids and parents to track their dental routine, it all comes down to providing the customer with the technological resource to find the information they need in the format and medium they want to use.</p> <p><img src="https://assets.econsultancy.com/images/resized/0008/7049/ugrow-blog-flyer.jpg" alt="ugrow app" width="470" height="362"></p> <p><em>The Philips uGrow app</em></p> <h3>What this means for customers</h3> <p>For customers, the new connected world has given them the power to take charge. They’re now able to decide where they communicate with businesses and in turn are expecting a more personalised experience than ever before. </p> <p>A prime example of this is that if they purchase an item online from your store – they then don’t expect to be targeted by advertisements the next day for the same item. Businesses need to be able to understand their customers as well as they understand themselves, with the ability to react to changes in customer demands and sentiment. This will be paramount in ensuring they get to where they need to be.</p> <p>Whilst re-evaluating your business processes can be a tiresome task, those businesses that see customer experience as a bonus rather than a necessity will soon find they were on the wrong side of the fence.             </p> <p>It’s clear that this new landscape filled with digital natives presents many challenges, but it also presents a vast amount of opportunity. Customer-savvy businesses with their fingers on the pulse of exactly what their customers want, often before they have even asked, will be clear winners in the game of customer retention. Big brands in particular should look to their newer, more nimble counterparts for inspiration; to play it safe, quite simply, doesn’t cut it anymore.  </p>