tag:www.econsultancy.com,2008:/topics/skills-capabilities Latest Skills & capabilities content from Econsultancy 2016-04-29T14:01:05+01:00 tag:www.econsultancy.com,2008:BlogPost/67758 2016-04-29T14:01:05+01:00 2016-04-29T14:01:05+01:00 Big data tools & techniques successful CMOs need to know John Kelly <p>Take the entertainment and ticketing business.</p> <p>Andrew Rentmeester, senior vice president of revenue planning and operations at The Madison Square Garden Company, sees it this way:</p> <blockquote> <p>What the CMO uses now (and will always need) are simple scrapes of the ticket inventory system and what’s sold today. If you don’t have that, you really don’t know where you are in the business.</p> </blockquote> <p>Rentmeester adds that, even though it’s just an inventory system for tickets, an old-school Excel sheet works. While it isn’t ideal, it’s needed, nonetheless.</p> <p>Consider the marketing of tires. Tire manufacturers struggle to understand the market value of their brand and products.</p> <p>Typically, they web-scrape prices listed by local retailers and make rough estimations of the value of their brand versus benchmarks.</p> <p>Even the application of this crude method of <a href="https://econsultancy.com/blog/67699-how-online-retailers-can-improve-price-optimization-strategies/">price optimization</a> improves margins in a very competitive market sector. </p> <p>Shawn O’Neal, vice president of global marketing data and analytics at Unilever, suggests that tool exploration begins before its analysis:</p> <blockquote> <p>You have to know what you want before you build the database with data tools. You have to understand what attributes you’re going to scale in the hierarchy and segmentation before you ever build the database.</p> <p>If you don’t have the database built for the data, you don’t capture it.</p> </blockquote> <h3>Big data tools on the CMO’s wish list<br> </h3> <p>Rentmeester says he would like to start his morning in this way:</p> <blockquote> <p>Marketing leadership and I need a dashboard concept that we look at and know what the overall state of our key marketing levers are so that we can use that to drive the business forward.</p> </blockquote> <p>He likes the idea of a type of dashboard mechanism that allows for quick insight into key sales drivers, year-to-date numbers, and prior-year numbers (and one that also provides a way to view the revenue funnels in parallel).</p> <p>For example, if you have a website and different digital marketing strategies for that website, you want to know which method is working best, how they are stacking up against each other and, most importantly, how they are relating back to sales. </p> <p>However, in a world where large, monolithic-type reporting engines still exist, Rentmeester finds that, by the time a report is generated, it’s already out of date because the questions have changed.</p> <p>If he wants to see one specific metric — such as the average ticket price in Section 340 for Knicks games — how does he get that metric quickly?</p> <p>He argues that the reporting structure isn’t usually oriented to answer that question at that point in time, which could prove to be a challenge for a CMO.</p> <p>He’s looking for a tool that allows him to get granular and to get as much data as he needs in order to make use of it as quickly as possible.</p> <h3>Tools or Techniques?<br> </h3> <p>Other executives claim there is more value to knowing a few standard analytical techniques above any one tool that should be leveraged.</p> <p>Sandeep Sacheti, executive VP at Wolters Kluwer, suggests the following “big five”.</p> <h4>1. A/B Testing</h4> <p><a href="https://econsultancy.com/blog/67249-a-beginner-s-guide-to-a-b-testing/">A/B testing</a>, as the name implies, involves a comparison or test. It is the simplest testing method possible, measuring the effectiveness of one path versus another.</p> <p>Some ideas for areas to A/B test include webpage design or timing of messages in an email campaign. One can test creative and response rates to specific offers as well.</p> <p>Although most marketers are well-informed of this basic technique, in the rush to get the job done and get to market, fewer employ it than one would expect.</p> <h4>2. Net Promoter Score (NPS)</h4> <p>NPS is an inherently simple concept to measure customer loyalty: It’s a tally of whether customers would recommend your business to others.</p> <p>While it might seem crazy that entire consultancies have been testing and reporting something as simple as the NPS concept, that number leads to the need for real strategic changes if not at its ideal level.</p> <p>Again, start simple: Are you asking your customers for it? And have you tracked how your score moves over time?</p> <h4>3. Customer Lifetime Value (CLTV)</h4> <p>Here’s another simple metric, but this one accomplishes a complex transformation — getting an organization to shift its priorities from quarterly profits to the health of customer relationships.</p> <p><a href="https://econsultancy.com/blog/65435-what-is-customer-lifetime-value-clv-and-why-do-you-need-to-measure-it/">CLTV</a> is most applicable to businesses that can successfully achieve an annuity from their clients (think financial services, for example).</p> <p>Beyond that, it answers this question: “What is this customer worth to me?” to which there are three more consequential questions:</p> <ul> <li>Should I encourage this customer’s business, or let it go? </li> <li>If I want to encourage his or her business, how likely is he or she to continue?</li> <li>And what do I need to invest to keep that annuity going?</li> </ul> <h4>4. Recency, Frequency, Monetary (RFM) Analysis</h4> <p>This is the most basic method of measuring CLTV.</p> <p>Scoring of all three — combined with a weighting of each to reflect the specific importance of each to your business — is the essence of this simple tabular calculation.</p> <h4>5. Customer Wallet Estimation</h4> <p>Maintaining a base level of analytics ensures you know what your customer spends with you in a given period.</p> <p>However, in a competitive marketplace, do you know how much money that customer is spending in that same time period across your industry?</p> <p>This measure involves more advanced statistical analysis and some outside market audit data, including a small sample of customer spend with competitors.</p> <p>A reliable marketwide number can be derived from this small sample by employing rules of statistics.</p> <p>Provided in context, knowledge of this number is good for relative comparison combined with other data.</p> <p>For example, are some of your marketing dollars achieving as much customer money as your competitor’s marketing dollars are? </p> <h3>Making the most of the CMO’s big data toolkit<br> </h3> <p>What needs to happen to make these tools most effective for CMOs today and in the future?</p> <p>O’Neal insists that setting up big data infrastructures with big groups of people and big budgets is no longer the way to go.</p> <p>Analytics should be built to empower people to do work in a demand-driven way — and not in the way IT systems were built in the 1990s.</p> <p>He goes on to agree with Rentmeester above:</p> <blockquote> <p>We build minimum requirements that are highly alterable, not capacity models that hope demand will grow and become what you envision. Because what you envision today is changing so rapidly that, tomorrow, it’s out of date.</p> </blockquote> <p>Rentmeester, however, believes that more people are the answer to actually marshal the data and make it quickly usable.</p> <p>A large staff, with enough data sense and business acumen to drive business by the numbers, can achieve the right balance of analytical agility, innovation, and most importantly, actionable results.</p> 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> tag:www.econsultancy.com,2008:BlogPost/67693 2016-04-04T11:27:55+01:00 2016-04-04T11:27:55+01:00 A day in the life of... Head of Marketing at a fintech startup Ben Davis <h3>Please describe your job! What do you do? </h3> <p>I run the marketing team for fintech startup <a href="https://www.clearscore.com/">ClearScore</a>. I’m responsible for all aspects of marketing - brand, advertising and acquisition activity, PR and <a href="https://econsultancy.com/blog/64545-what-is-crm-and-why-do-you-need-it/">CRM</a>.</p> <p>Last summer we launched a brand new service which allows people to come to our site and get a clear picture of their personal credit report data and score - for free.   </p> <p>Our mission is to make everyone's finances less of a hassle, starting with free access to the information about you that banks and lenders all get to see.</p> <p><img src="https://assets.econsultancy.com/images/resized/0007/3476/screen_shot_2016-03-31_at_15.10.11-blog-flyer.png" alt="" width="470" height="379"></p> <h3>Whereabouts do you sit within the organisation? Who do you report to?</h3> <p>I report into the CEO, Justin Basini. The marketing team is four people strong and <a href="https://www.clearscore.com/jobs/">we’re looking for more recruits now</a>.</p> <p>One of the brilliant things about working in a startup is the flat structure and close-knit team. Me and my team work closely with all 25 ClearScorers.</p> <h3>What kind of skills do you need to be effective in your role? </h3> <p>ClearScore is <a href="https://econsultancy.com/reports/data-driven-marketing-trends-briefing-digital-cream-london-2015/">a data-driven business</a> – we use technology and data to provide people with an experience that feels smart, calm and clear.</p> <p>Being able to interpret data and build insights into the customer experience is a key part of what I need to do.</p> <p>In general, to be effective in a small company with big ambitions, you need to be a multi-tasker with a ‘get it done’ attitude.</p> <p>It’s important to be comfortable with ambiguity and be able to forge a path and build structure from a blank sheet. You need to be able to focus clearly on what matters and not be distracted.</p> <p>In a growing business, having the ability to spot talent and draw a brilliant team of people around you is key to being effective as well. My team is wonderful and I couldn’t be effective without them. </p> <h3>Tell us about a typical working day…</h3> <p>I get in to the office between 8.30am and 9.30am - after starting the day with a run or yoga session and breakfast.</p> <p>I start the day reviewing the performance figures for the day before, and catching up with the team on priorities for the day.</p> <p>From that point on there isn’t really a typical day - I could be in a focus group testing a new feature with our users, reviewing some advertising concepts, at a shoot, media planning with my media agency, working on a PR story, reviewing priorities for the next sprint with the technology team... </p> <p>Depending on evening plans, I will leave the office any time between 6pm and 8pm.</p> <p><img src="https://assets.econsultancy.com/images/0007/3510/Screen_Shot_2016-04-01_at_10.54.42.png" alt="clearscore" width="615"></p> <h3>What do you love about your job? What sucks?</h3> <p>I genuinely love my job, mainly because I love our product and the team around it. The whole team is really proud - obsessing over how the website looks, each interaction and each new feature.</p> <p>It’s really a pleasure to take something we’re so proud of to our customers, and we love reading feedback from people who write in or post on forums.</p> <p>It's also rare that a marketer gets the chance to take a brand from conception through to mass-market. I feel very strong ownership of our marketing and love being able to shape our strategy and plans and see the immediate impact.</p> <p>Having no legacy of what has gone before is very refreshing. That can be quite hair-raising sometimes too.</p> <p>There is nowhere to hide in such a small team, and I do feel the pressure that comes with that.</p> <p>Our business needs to hit some incredibly ambitious targets to meet the expectations of our shareholders. Sometimes you need nerves of steel!</p> <p>Another favourite part of my role is working on product development - bringing to life the features conceived by our CEO and lead designer. We have so many ideas for smart new features that we are working on.</p> <p>Of course it is fantastic when hard work is rewarded with industry recognition - winning Innovative Product of the Year and Financial PR Campaign of the Year in the last couple of months were definitely highlights.</p> <p>As a business we’re good at celebrating success - any excuse to get down to the pub! </p> <h3>What kind of goals do you have? What are the most useful metrics and KPIs for measuring success?</h3> <p>It’s very easy to measure success in our business, and my goals are tangible - my team and I are focused on bringing traffic to our website, new registrations and return users.</p> <p>These, combined with building a strong brand, are my main deliverables. </p> <p>In order to achieve this I pore over a lot of metrics - advertising response rate, app store downloads, <a href="https://econsultancy.com/blog/66569-five-ways-to-use-social-proof-online">user reviews</a>, net promoter score, engagement rate, SEO performance. We measure everything.</p> <p>I have some fantastic Analyst colleagues who ensure I can access what we need to be successful.</p> <h3>What are your favourite tools to help you to get the job done?</h3> <ul> <li>Kissmetrics has been an invaluable tool for us to understand each phase of our registration process and user behaviour on site.</li> <li>Adalyser for enabling granular tracking and optimisation of TV schedules.</li> <li>Majestic and SEM Rush for SEO.</li> <li>I also really value Da Pulse - a team management tool which enables sharing of objectives, progress and keeps us really focussed in team meetings.</li> </ul> <p><img src="https://assets.econsultancy.com/images/0007/3514/kissmetrics.png" alt="kissmetrics" width="310" height="163"> </p> <h3>How did you get started in the digital industry, and where might you go from here?</h3> <p>I started out in the automotive industry, kicking off my career with BMW and then as National Communications Manager at MINI.</p> <p>After volunteering in Peru I came back to London interested in the challenge of working for startups.</p> <p>Following a stretch at Zapp, the bank-backed mobile payments service, the opportunity to join ClearScore as the fifth permanent employee came up and I couldn’t turn it down.</p> <p>Right now I’m focusing on growing our user base and developing this business into a world-class consumer service.</p> <p>We’ve got big plans to evolve ClearScore.com and completely shake-up the way people handle their money. Watch this space...</p> <h3>Which brands do you think are doing digital well?</h3> <p>It’s yet to launch but <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> is a very interesting business. It has been over twenty years since Amazon created a completely new way to shop and it’s taken financial services too long to show any innovation.</p> <p>I am also a huge fan of AirBnB - another business that uses technology to solve a human problem. <a href="https://econsultancy.com/blog/65322-how-to-rebrand-airbnb/">Its product design and brand</a> are amazing. </p> <h3>Do you have any advice for people who want to work in the digital industry?</h3> <p>Look for the right people and businesses to work with - is your company well-positioned to harness the developing technologies and innovations you want to be part of? Is this deep understanding coming from the very top of the company?  </p> <p>For people early in their career, I recommend specialising and training in a growing area like <a href="https://econsultancy.com/training/courses/seo-training">SEO</a> or content marketing. I also recommend <a href="https://econsultancy.com/training/courses/coding-for-professionals/">learning some basic coding</a>.</p> <p>You will be highly employable and if you choose the right organisation, you’ll then have opportunity to broaden your skill-set as you progress.</p> <p><em>If you're looking for a new challenge in digital, see the <a href="https://jobs.econsultancy.com/">Econsultancy jobs board</a> or benchmark your own digital knowledge using our <a href="https://econsultancy.com/training/digital-skills-index-lite/">Digital Skills Index.</a></em></p> <p><em>Alternatively, if you already work in the digital industry and would like a Day In The Life profile, you can email us via press@econsultancy.com.</em></p> 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:Report/4039 2016-03-07T09:00:00+00:00 2016-03-07T09:00:00+00:00 Digital Transformation in the Retail Sector <p>In a fast-moving and highly competitive retail market, companies are increasingly embarking on programmes to digitally transform themselves.</p> <p>The <strong>Digital Transformation in the Retail Sector</strong> report looks at the challenges that retailers are facing. The research seeks to understand best practice approaches from those interviewed, along with techniques and strategies that different types of retailers are adopting to increase their chances of success.</p> <h2>Methodology</h2> <p>We carried out a series of in-depth interviews with senior executives from across a range of retailers to understand how they were responding to different opportunities and challenges.</p> <p>Retailers interviewed included: AO.com, Asda, The Body Shop, B&amp;Q, Feelunique.com, Good Hair Day, Pandora, Schuh, Shop Direct, Tesco and Volcom, as well as a number of third parties.</p> <p>We also looked at sector-specific data from our <a title="Quarterly Digital Intelligence Briefing: 2016 Digital Trends" href="https://www.econsultancy.com/reports/quarterly-digital-intelligence-briefing-2016-digital-trends">2016 Digital Trends report</a> published earlier this year.</p> <h2>You'll discover findings around:</h2> <ul> <li>Ways in which companies are putting the customer at the heart of everything to optimise the customer experience.</li> <li>Making the experience more personalised is a top digital priority and how companies are focusing on ways to do this. </li> <li>The focus retailers are placing on blending the digital and physical experience and driving ownership of omnichannel across the customer journey. </li> <li>How retailers are looking to differentiate their offering and how pure-play digital players are focusing on delivering added value online. </li> <li>How retailers are driving forward cultural change in a digital-fast moving environment. </li> <li>How data-driven marketing is a key priority for retailers and the ways in which retailers are adopting a more data-driven approach.</li> <li>How companies are using technology to enhance the customer experience.</li> </ul> <p><strong>Download a copy of the report to learn more.</strong></p> <p>A <strong>free sample</strong> is available for those who want more detail about what is in the report.</p> <h2>How we can help you</h2> <h2 style="font-weight: normal; color: #3c3c3c;"><a style="color: #2976b2; text-decoration: none;" href="https://econsultancy.com/training/digital-transformation" target="_self"><img style="font-style: italic; height: auto; float: right;" src="https://assets.econsultancy.com/images/resized/0004/8296/rgb_dt_logo-blog-third.png" alt="Digital Transformation" width="200" height="66"></a></h2> <p><a title="Digital transformation - Econsultancy" href="https://econsultancy.com/training/digital-transformation/">Digital transformation</a> is a journey that's different for every organisation. To enable delivery of your digital vision (or help you shape that vision) we’ve designed a comprehensive approach to tackle your transformation.</p> <p>Covering everything from strategic operational issues, down to specific marketing functions, we will work with you to achieve digital excellence.</p> <p>Talk to us about an initial, no-cost consultation.</p> <p>Contact our Digital Transformation Team on <a href="mailto:transformation@econsultancy.com">transformation@econsultancy.com</a> or call</p> <ul> <li>EMEA: +44 (0)20 7269 1450</li> <li>APAC: +65 6809 2088</li> <li>Americas: +1 212 971-0630</li> </ul> <p><iframe src="https://www.youtube.com/embed/2q_lWLm5qtg?wmode=transparent" width="560" height="315"></iframe></p> tag:www.econsultancy.com,2008:BlogPost/67519 2016-02-12T11:13:42+00:00 2016-02-12T11:13:42+00:00 14 fascinating digital marketing stats from the past week Jack Simpson <p>Seriously, I sent the link to my wife last year along with the message 'from <strong>Me</strong>consultancy with love', and she didn’t even divorce me. In fact, I was out of the dog house within days without having spent a single penny. </p> <p>Totally worth it. Thank me later. </p> <p>This week we’re covering – yep, you guessed it – Valentine’s Day, along with lots of other exciting stats around marketing salaries, digital skills, ad viewability and much more. </p> <p>Buckle up, this is a good one...</p> <h3>Mobile highest-paid digital specialism</h3> <p>There’s a very simple way to gauge what the most in-demand skills are, and that’s to find out how much companies are willing to pay for them.</p> <p>That’s exactly what our <a href="https://econsultancy.com/reports/career-and-salary-survey-report-2016/">2016 career and salary survey</a> aimed to do, and mobile emerged as the top-paid specialism, with mobile-savvy marketers receiving an average basic salary of £49,280. </p> <p>UX still remains strong. Marketers with this specialism can expect to be paid £48,111 on average. </p> <p><img src="https://assets.econsultancy.com/images/0007/1773/Screen_Shot_2016-02-11_at_16.58.10.png" alt="digital marketing salaries by specialism" width="597"></p> <h3>Gender pay gap still persists</h3> <p>There is still a significant <a href="https://econsultancy.com/blog/67480-should-female-content-specialists-be-worried-by-our-salary-survey/">gender pay gap in marketing</a>, according to our salary survey. </p> <p>Male digital specialists enjoy an average salary of £46,378, while their female counterparts only receive £38,176 on average. </p> <p>The gap is equally wide for general marketers, with males getting paid £45,750 on average vs. just £37,477 for females. </p> <p><img src="https://assets.econsultancy.com/images/0007/1774/Screen_Shot_2016-02-11_at_16.58.44.png" alt="gender pay gap marketing salaries" width="597" height="128"></p> <h3>47% say young people can’t apply digital skills at work</h3> <p>Almost half of senior decision makers in UK companies say that while young people are digitally savvy they don’t know how to apply those skills in a work situation, according to a recent YouGov poll. </p> <p>Other key findings include:</p> <ul> <li>84% of respondents agree digital literacy is important in their place of business.</li> <li>18% believe that not enough young people have the specific digital skills needed for their organisation, rising to 20% in media, marketing and PR and 37% in IT and telecoms.</li> <li>The ability to use the internet for work purposes (87%), staying safe online (87%) and creating basic digital content (84%) were identified as the most sought after when recruiting young people.</li> </ul> <h3>80% of shoppers want to collect loyalty points on their phone</h3> <p>Eight in ten UK consumers would like to start collecting loyalty points on a retail app, according to <a href="http://www.apadmi.com/wp-content/uploads/2015/11/retail-app-report-november-2015.pdf%20">new research from Apadmi</a>. </p> <p>Other key findings include:</p> <ul> <li>29% of shoppers would be happy to share their location with a retail app to gain incentives and loyalty points when they walk around the store.</li> <li>51% of consumers claim they own more than one loyalty card.</li> <li>46% say they regularly collect and spend points on a reward card.</li> <li>Only 20% of UK smart phone users currently interact with a retail loyalty scheme on their phone, however.</li> </ul> <h3>Only 3% of European ad inventory is available at 80%+ campaign viewability goal</h3> <p><a href="https://econsultancy.com/blog/67246-advertisers-willing-to-shift-spend-over-viewability-report">Ad viewability</a> levels are suffering across Europe, according to new research from Quantcast, which analysed 5bn impressions per month across more than 10,000 publishers for three years. </p> <p>Other key findings include:</p> <ul> <li>An average of 16% of UK inventory not measurable from a viewability perspective.</li> <li>At 75%-100% viewability, inventory is 92% more expensive than RTB average.</li> </ul> <h3>Half of UK online retailers ignoring Chinese ecommerce</h3> <p>While two-thirds of the UK’s largest online retailers are selling internationally, almost half are completely ignoring <a href="https://econsultancy.com/blog/67212-10-eye-watering-stats-from-alibaba-s-singles-day-in-china">China’s growing ecommerce market</a>, according to new research from Global-e. </p> <p>Other key findings include: </p> <ul> <li>Just 26% of retailers present prices in Chinese Yuan.</li> <li>Only 22% of retailers that ship to China offer shoppers the ability to pay using local payment methods.</li> <li>Only one in ten retailers offers a Mandarin-language shopping experience.</li> </ul> <h3>98% uplift in conversion rate for flowers in lead-up to Valentine’s Day</h3> <p>Perhaps unsurprisingly (definitely unsurprisingly), online conversion rates for flowers increased by almost 100% in the days leading up to Valentine’s Day last year, according to new figures from Ve.</p> <p>But Mother’s Day saw an even bigger uplift in conversions for flowers (138%). </p> <p>Check out the table below for a breakdown of sectors and their respective conversion rates, split between Valentine’s Day (middle column) and Mother’s Day (right column):</p> <p><img src="https://assets.econsultancy.com/images/0007/1775/Screen_Shot_2016-02-11_at_16.10.06.png" alt="conversion rates valentine's day mother's day" width="538" height="390"></p> <h3>54% of Q4 2015 retail app traffic came from London</h3> <p>More than half of all Q4 2015 retail app traffic in the UK came from London, according to a new report by Poq. </p> <p>Other key findings include:</p> <ul> <li>App users in the North East of England generated the highest average order values of the UK, with average order values 126% higher than average.</li> <li>Revenue per user was highest for Scotland-based app users, who were 143% more profitable for retailers than the average app user.</li> <li>The average person shopping from an app generated 2.6x more revenue for a retailer than someone shopping from a mobile site, and 1.5x more than someone using a desktop device.</li> <li>Customers using apps also interacted with retailers 2.8x more often than customers using the mobile website.</li> </ul> <h3>57% plan on using Instagram for Valentine’s gift inspiration </h3> <p>More than half of people say they will turn to <a href="https://econsultancy.com/blog/67020-why-instagram-should-be-the-channel-of-choice-for-marketers">Instagram</a> to look for ideas on what to buy their significant other for Valentine’s Day, according to new research from Greenlight. </p> <p>Other key findings include: </p> <ul> <li>41% of Instagram users admit to dropping hints on the social network about what they want to receive.</li> <li>Celebrities posting luxurious presents on their profiles doesn’t influence us as much as we think, with 76% of us valuing our friends and family’s posts the most when searching for what to buy.</li> <li>35% of younger Instagram users will be influenced by celebrities, however.</li> </ul> <h3>‘Actionable emails’ best sent on Friday</h3> <p>The best time to send <a href="https://econsultancy.com/blog/67403-ecommerce-email-marketing-benchmarks-for-2016">emails</a> that require a decision from the reader is the end of the week, according to a new infographic from My.com.</p> <p>Check out the infographic below for more stats:</p> <p><a href="https://assets.econsultancy.com/images/0007/1781/t9V6yP7.jpg"><img src="https://assets.econsultancy.com/images/0007/1776/Screen_Shot_2016-02-11_at_16.21.44.png" alt="best time to send emails infographic" width="700"></a></p> <h3>TV no longer the dominant screen in the living room</h3> <p>When it comes to the coveted living room attention span, all screens are increasingly equal, according to new research from Sparkler. </p> <p>Only 50% of UK online adults now say the TV set is the focal point of their living room, while 70% report they ordinarily use a connected device while watching TV – this rises to 87% of 16-34s. </p> <p>Multi device activity peaks between 6pm-9pm, and during TV programmes more than one third (34%) check emails, 31% Instant Message or text and 25% shop online.</p> <h3>Half will use digital device to research and buy Valentine’s gifts</h3> <p>Almost half (49%) of people will do Valentine’s Day gift research on a digital device, with 27% using a smartphone or tablet, according to a new infographic from RadiumOne.</p> <p>Check out the infographic below for more stats:</p> <p><a href="https://assets.econsultancy.com/images/0007/1782/Valentine_Infographic.jpg"><img src="https://assets.econsultancy.com/images/0007/1777/Screen_Shot_2016-02-11_at_16.29.59.png" alt="valentine's day digital marketing stats infographic" width="700"></a></p> <h3>7 in 10 Valentine’s Day retail searches to be made from a mobile device</h3> <p>More than 70% of <a href="https://econsultancy.com/blog/66064-11-valentine-s-day-email-creatives-from-the-fashion-industry">Valentine’s Day</a> related searches will be made from a mobile in the lead-up to the day, according to <a href="http://www.slideshare.net/bingads/uk-valentines-day-insights%20">new figures from Bing Ads</a>.</p> <p>Other key findings include:</p> <ul> <li>More than half of Valentine’s Day searches are expected to be made on the move.</li> <li>Men leave it later to start searching for gifts.</li> <li>The most popular pre-Valentine’s day search times are 11am–2pm on mobile, with a last-minute rush between 7pm-10pm on PCs</li> <li>‘City breaks’ are the most searched-for romantic getaway.</li> <li>Wedding bells could be ringing with ‘engagement rings’ the most searched-for jewellery category.</li> </ul> <h3>Valentine’s gift searches grow 195% from 2013-2015</h3> <p>The number of people searching for ‘Valentine’s gifts’ in the run-up to the day increased by almost 200% between 2013 and 2015, according to new research from Connexity. </p> <p>The research also reveals the top sites cashing in over Valentine’s Day, with the results listed in the table below:</p> <p><img src="https://assets.econsultancy.com/images/0007/1778/Screen_Shot_2016-02-11_at_16.44.16.png" alt="search stats for valentine's day" width="600"></p> <h3>Timely and vaguely relevant stat of the week…</h3> <p><strong>On this day in 2004,</strong> Mattel announced that Barbie and Ken were breaking up. </p> <p>The dolls had met on the set of their first television commercial together in 1961. </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> tag:www.econsultancy.com,2008:BlogPost/67497 2016-02-11T15:27:15+00:00 2016-02-11T15:27:15+00:00 Five factors that help create strong company values Jen Todd Gray <p>Seventeen years later, we still have that pioneering spirit, but with a team of 400 across the country and a dynamic rhythm to our work.</p> <p>With a recent rebrand under our belt and new senior leadership in place, it made sense for us to breathe new life into our principles and empower our team to continue doing great work.</p> <p>In a world where workplace stress leads to an almost <a href="https://hbr.org/2015/12/proof-that-positive-work-cultures-are-more-productive">50% increase in voluntary turnover</a>, companies need to work to produce a positive culture so employees feel a sense of purpose.</p> <p>Here are five key points that seasoned companies, as well as sprightly startups, should consider.</p> <h3>1. Understand the importance of values</h3> <p>Company values are a roadmap of how a team strives to conduct business. Every company has a personality and something it stands for, giving prospective consumers and employees insight as to their ideals.</p> <p>Our values are ingrained into our interview process, part of our annual reviews, and woven into everything we do.</p> <p>Zappos, a company that prides itself on being "powered by service," rotates its <a href="http://www.zappos.com/d/about-zappos-culture" target="_blank">ten core values</a> on its <a href="http://www.zappos.com/" target="_blank">homepage</a>; doing so lets consumers know where they stand as a business and adds a level of accountability.</p> <p><img src="https://assets.econsultancy.com/images/0007/1738/Screen_Shot_2016-02-11_at_15.22.35.png" alt="" width="800"></p><p>Values also help leaders market their company, guiding messaging and tactics with strategies that pertain directly to their mission.</p> <p>Last fall, <a href="https://econsultancy.com/blog/67109-rei-opts-out-of-black-friday-sort-of/" target="_blank">REI made headlines</a> for its decision to forgo Black Friday altogether, urging consumers to #OptOutside instead.</p> <p>While many brands benefit from hyped up sales, REI decided that participating in Black Friday was brand erosive, as the company motto is “<a href="http://www.rei.com/stewardship.html" target="_blank">life outdoors is a life well lived</a>.” </p> <p>By taking a bold stance against the hectic and crowded indoor shopping day, it enhanced REI’s positioning as an outdoor fitness brand.</p> <p>When people are looking to do business, it’s not just about the product or service value, but how business is conducted.</p> <p>Ultimately, business is about building great relationships and choosing the right partner based on shared values - the common adage rings true, "People do business with people they like and trust."</p> <h3>2. Know when to modernize</h3> <p>When it comes to a refresh, companies should consider the impact they hope to make and the proper time for pursuing it - don’t just change for the sake of changing and don't change values often - that will lead to confusion.</p> <p>Often, a values revamp makes sense when a company enters a new phase.</p> <p>We began discussing modernization during our rebranding process back in 2013 and, in the months since, watched as our principles evolved alongside the company.</p> <p>While your core values shouldn’t make large swings, you may need to reinvigorate them as your business evolves.</p> <h3>3. Know what you stand for</h3> <p>When issuing corporate values, think about not only who you are as a company, but what you aspire to be.</p> <p>While it’s fine to include these ambitions in company standards, values should be attainable, embracing behaviors that can be embodied every day.</p> <p>Southwest Airlines, for instance, is known for its <a href="https://www.southwest.com/html/about-southwest/careers/culture.html" target="_blank">fun-loving attitude</a> despite the chore that travel can often be.</p> <p>When a FOX reporter <a href="http://metro.co.uk/2015/12/29/fox-news-reporter-live-tweets-budding-romance-at-the-airport-5589316/" target="_blank">live-tweeted a budding airport romance</a> while waiting for her flight, Southwest was <a href="https://twitter.com/SouthwestAir/status/681347758196838400?ref_src=twsrc%5Etfw" target="_blank">quick to jump in on the fun</a>, offering the couple pizza and branded swag.</p> <p>Above all, employees need to feel empowered to mobilize around these principles and implement them in daily operations.</p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr"><a href="https://twitter.com/bfreeland">@bfreeland</a> <a href="https://twitter.com/MartinaFOX23">@MartinaFOX23</a> we'll get the pizza and some Southwest goodies! ^BE</p> — Southwest Airlines (@SouthwestAir) <a href="https://twitter.com/SouthwestAir/status/681347758196838400">December 28, 2015</a> </blockquote> <h3>4. Create a sense of ownership</h3> <p>To ensure values are carried out at all levels of a company, leaders must actively demonstrate these beliefs - you can’t recite them once and be done.</p> <p>Leadership teams should frequently evaluate how well employees are invested in these values and find ways to reinforce positive examples.</p> <p>Publicly celebrate individuals who are 'culture carriers' at company meetings, in internal newsletters, on your company blog – whatever channel fits your business.</p> <p>Quarterly peer-nominated awards are a great way to actively empower employees to recognize these values among their peers.</p> <p>Send thank you emails to team members and copy their leaders; order buttons, magnets or small trophies to gift workers when they do a good job. As a whole, visible recognition is an effective way to reinforce key behaviors.</p> <h3>5. Live values everywhere</h3> <p>Whether you have one office location or 1,000 retail outlets, genuine culture adoption comes from full leadership buy-in and an intimate knowledge of the principles and how to live them.</p> <p>However, even when you give leaders the tools to succeed, understand that adoption won’t be instantaneous.</p> <p>For the best results, keep things simple and find opportunities to lead by example. Keep values in mind when hiring.</p> <p>Recruiters should seek individuals that personally embrace the same values to ensure a cultural fit.</p> <h3>Starting from square one?</h3> <p>If you don't have a core set of values written down already, take a hard look at who you are – ask both employees and clients what makes your company special, and begin there.</p> <p>What gets your team members excited? Why do they like working there?</p><p>Finally, keep in mind that cultural values aren’t the same as perks. Shy away from calling out your colorful walls, hip break room and foosball table, and instead focus on the qualities that help you stand out in your field.</p> <p>Values aren't tangible things, but a culture can certainly be felt the moment you walk in to a place. The more authentic your values are, the easier they’ll be to instill and the stronger your company will be. </p> <p><em>For more on this topic, read:</em></p> <ul> <li><a href="https://econsultancy.com/blog/67107-five-digital-organisations-with-a-transparent-company-culture/"><em>Five digital organisations with a transparent company culture</em></a></li> <li><a href="https://econsultancy.com/blog/67059-changing-company-culture-six-things-to-try/"><em>Changing company culture: six things to try</em></a></li> </ul> tag:www.econsultancy.com,2008:Report/4022 2016-02-04T12:00:00+00:00 2016-02-04T12:00:00+00:00 Career and Salary Survey Report 2016 <p>Building on our inaugural <strong>Career and Salary Survey</strong> in <a href="https://econsultancy.com/reports/salary-survey-2015-report/">2015</a> (previously called The Salary Survey), Econsultancy collaborated with sister brands <a href="http://www.marketingweek.com/">Marketing Week</a>, <a href="http://www.designweek.co.uk/">Design Week</a> and <a href="http://www.creativereview.co.uk/">Creative Review</a> to survey nearly 8,500 people across the marketing, digital, design and advertising industries.</p> <p>This report is based on data provided by those who classify themselves as <strong>general marketing and digital professionals</strong>, numbering over 4,300 individuals.</p> <p>It's been nearly three years since Econsultancy drafted its <a href="https://econsultancy.com/blog/62668-our-modern-marketing-manifesto-will-you-sign/">Modern Marketing Manifesto</a>, and this survey data goes some way towards showing how well the gap between digital and general marketing is closing, and what still needs to happen before digital thinking is embedded into all aspects of business strategy.</p> <p>The main objective of this research is to give a guideline of how marketers are remunerated and what the trends and variations are across different industry sectors and regions in the UK, but also to understand how they rate various remuneration packages, what benefits they receive, what their expectations are and how marketing departments evolved in the last 12 months.</p> <p>The survey will help you benchmark salaries for more than 50 individual job roles including positions such as chief marketing officer, digital strategist, marketing manager and eCRM manager. We are confident that this report provides real practical value both for those working in the marketing industry who want to understand how their peers are remunerated.</p> <p><iframe src="https://www.youtube.com/embed/3-7A7ZKWs6E?wmode=transparent" width="560" height="315"></iframe></p> <h2>Findings include:</h2> <ul> <li> <strong>Digital salaries are performing well. </strong>2016 sees more digital roles encroach upon the general marketing space, with digital specialists faring well in terms of average salary.</li> <li> <strong>Mobile skills are highly sought-after. </strong>Mobile emerges as the top paid specialism among digital marketers in 2016, receiving an average basic salary of £49,280.</li> <li> <strong>The gender pay gap persists. </strong>It’s disappointing to see that a sizeable pay gap continues between men and women working in marketing.</li> <li> <strong>Marketers want to up their skills. </strong>With digital marketing content, technology and channels evolving at a phenomenal rate, demand for high quality, digital marketing training has never been higher.</li> <li> <strong>Marketing needs greater representation at board level.</strong> Seeking representation at the top table is ultimately what marketing needs, to ensure its value in driving revenue throughout the business is properly acknowledged.</li> </ul> <h2>Who should read this report?</h2> <p>This report is aimed at marketing practitioners (working either client-side or for an agency) who are interested in salary trends and variations, and want to benchmark their current salaries, in addition to those interested in how UK marketeres are remunerated.</p> <p><strong>Download a copy of the report to learn more.</strong></p> <p>A <strong>free sample</strong> is available for those who want more detail about what is in the report.</p> <p>In addition, use <a href="http://bit.ly/1P1xnbr" target="_blank">Econsultancy's Salary Survey calculator</a> to find out whether you're getting paid enough and see how you rank against your peers.</p> tag:www.econsultancy.com,2008:Report/4001 2016-01-24T22:30:00+00:00 2016-01-24T22:30:00+00:00 The Rise of Marketing Technologists in Australia and New Zealand <h2>Overview</h2> <p><strong>The Rise of Marketing Technologists</strong> report, produced by Econsultancy in association with <strong><a title="IBM Marketing Cloud" href="http://www.ibm.com/">IBM Marketing Cloud</a></strong>, is based on a survey of almost 450 marketing, digital and ecommerce professionals based in Australia and New Zealand.</p> <p>The report, which aims to sum up the state of marketing technology in the region, looks at the extent to which companies value marketing technology, how they use various technologies, and their current and future marketing technology priorities.</p> <h2>What you'll learn from this research </h2> <p>The report reveals marketers’ technology priorities for the next 12 months, while exploring the extent to which companies are committed to investing in various technologies, the areas they are focusing their investment on, and the challenges they face in using marketing technology more effectively.</p> <p><strong>Key trends featured in the report: </strong></p> <ul> <li>A positive outlook for marketing technology</li> <li>The CMO is still the decision maker</li> <li>The majority of companies have integrated their marketing technology</li> <li>Email is still the most invested in and most important marketing technology</li> <li>Content-related technologies aren't far behind email</li> <li>Social media technologies are popular, but not seen as critical</li> <li>Companies are more likely to invest in easy-to-use technology</li> <li>Marketing automation and multivariate testing best for ROI</li> <li>Technology doesn't yet help with budget decisions or profitability</li> <li>Organisational issues are a significant barrier to effective use of marketing technology</li> <li>Overall, the future is bright for marketing technology</li> </ul> <h2>Features of the report </h2> <p>This 39-page report looks in detail at spending trends across a range of marketing technologies and investment priorities for the next 12 months. It explores the following areas:</p> <ul> <li>The strategic care for investing in marketing technology</li> <li>Skills and understanding</li> <li>Role and influence of key decision makers</li> <li>Current technology priorities</li> <li>Criticality versus ease of use</li> <li>Return on investment</li> <li>How organisations rate their use of marketing technology</li> <li>Barriers to effective use of marketing technology</li> <li>Looking ahead: investment in marketing technologies</li> </ul> <h2>Who should read this report?</h2> <p>The report is essential reading for both in-house marketers and agency professionals based in Australia and New Zealand, as well as those outside the region who want to understand how marketing technology investment is evolving in these countries.</p> <p><iframe src="https://www.youtube.com/embed/TotoIZdle3c?wmode=transparent" width="560" height="315"></iframe></p> tag:www.econsultancy.com,2008:BlogPost/67238 2015-11-26T11:00:00+00:00 2015-11-26T11:00:00+00:00 Redefining leadership in the digital age Neil Perkin <p>CEOs who were surveyed in IBM’s series of global C-suite studies, for example, have placed technology as the single most important external force shaping their organizations for the last four years in a row, more significant even than regulatory concerns, globalisation, macro-economic and market factors.</p> <p>The 2015 global C-suite study noted that so-called ‘horizontal innovation’, or companies that use digital technologies to expand rapidly into adjacent or entirely new markets, was now a major threat.</p> <p>Such industry convergence is seen to be the primary driver of the next wave of innovation. Where once CEOs could see the competition coming and could respond accordingly, today it is often invisible until it's too late.</p> <p>With this as context, Econsultancy set out to understand how leadership itself is changing in response to a digitally empowered world.</p> <p>Our new <a href="https://econsultancy.com/reports/effective-leadership-in-the-digital-age/">Digital Leadership research</a> and report reveals a worrying technology literacy gap amongst the most senior staff in our companies.</p> <p>While the vast majority of our survey respondents believed that it was ‘very important’ or ‘quite important’ for leaders to be technology literate in the modern business environment, far fewer of them actually believed that the level of literacy amongst their own leadership was strong.</p> <p> <img src="https://assets.econsultancy.com/images/0006/9485/Screen_Shot_2015-11-26_at_10.13.16.png" alt="how tech literate are your leaders?" width="615"> </p> <p>The expectation is not that leaders necessarily need to have specific operational knowledge of technologies and systems, but rather that they at least should have a good sense of the potential of new technologies, and the opportunities brought by their effective integration and application.</p> <p>When we asked research participants to identify the key characteristics of effective leadership in the digital age, it was notable how more traditional leadership qualities (visionary, commercial focus) were joined by those that focused more on operational orientation (technology literacy, customer-centricity, data-driven, adaptable and agile), and even also by ‘softer’ and altogether more human qualities (such as openness and curiousity).</p> <p>This echoes feedback on the growing importance of softer skills from our <a href="https://econsultancy.com/reports/skills-of-the-modern-marketer/">Skills of the Modern Marketer</a> research.</p> <p>So, might the best digital leaders benefit from a unique combination of skills and characteristics that bring together more traditional qualities that have long been thought to describe great leaders, but combine these with the kind of customer-centric, data-driven, technology-literate aspects that truly fit the digitally-empowered world?</p> <p>In his article on pi-shaped people, Econsultancy CEO Ashley Friedlein described these as the marketers:</p> <blockquote> <p>with a broad base of knowledge in all areas, but capabilities in both left brain and right brain disciplines. They are both analytical and data-driven, yet understand brands, storytelling and experiential marketing.</p> </blockquote> <p>Consistent feedback from our research showed how effective leaders in the digital age are able to combine a natural aptitude for understanding and drawing out insightful value from data, technology and algorithms, while combining this with an intuitive sense of the importance of more creatively driven disciplines such as customer experience, design, storytelling and inspiring visions.</p> <p>Might this be the vision for the new Pi-shaped leader?</p> <p>For a more detailed look at best practice in digital leadership, <a href="https://econsultancy.com/reports/effective-leadership-in-the-digital-age/">download the new report</a>.</p>