tag:econsultancy.com,2008:/topics/strategy-operations Latest Strategy & Operations content from Econsultancy 2016-10-21T10:26:33+01:00 tag:econsultancy.com,2008:BlogPost/68434 2016-10-21T10:26:33+01:00 2016-10-21T10:26:33+01:00 A day in the life of... the Managing Director at Cure & Simple Nikki Gilliland <p>So, what was the motivation behind starting such a company?</p> <p>Let’s find out, as we go through a day in the life of the Managing Director of <a href="https://www.cureandsimple.com/">Cure and Simple</a> – Charlie Pyper.</p> <p><img src="https://assets.econsultancy.com/images/0008/0522/Charlie_Cure___Simple.jpg" alt="" width="500" height="632"></p> <h3>Please describe your job: What do you do?</h3> <p>I am the MD of the business, and so essentially, the responsibility of all aspects of the company falls into my remit. </p> <p>As a small company I also have to focus on the <a href="https://econsultancy.com/events/digital-transformation-and-the-convergence-of-marketing-and-sales/">sales and marketing aspects</a> as well as the technology elements.</p> <h3>Whereabouts do you sit within the organisation? Who do you report to?</h3> <p>I founded the company, so in a traditional sense I would have a role reporting into the Board and the other shareholders. </p> <p>However, it is safe to say we are not particularly traditional, and on a day-to-day basis I report into every person who works inside the business.</p> <h3>What kind of skills do you need to be effective in your role?</h3> <p>To take input from others on what the best direction for a particular task would be and to heed that advice. </p> <p>A deep understanding of the technology that underpins our services is also hugely important. </p> <h3>Tell us about a typical working day?</h3> <p>Unfortunately, it all starts when I am in bed, checking from my phone how many new orders have come in overnight and any feedback we are getting from our social media channels. </p> <p>Luckily, the office is next to my home so getting in of a morning could not be easier.</p> <p>As we are constantly trying to grow, we usually have a new initiative on the go at any one time, so this will be coordinated with production, finance and sales. </p> <p>More often than not I cook lunch for everyone and am on standby afterwards to assist with any of the orders that are being processed.</p> <p>Our day usually ends after Royal Mail has been to collect the day’s orders, and that is usually a good time to catch up with Stephen Hargreaves, a partner who looks after the finance, as well as Craig Watson (our first employee) who looks after production and customer enquiries. </p> <p>That’s the day in a nutshell, but as long as my phone is with me, I’m never not thinking about the business.</p> <h3>What do you love about your job? What sucks?</h3> <p>Where can I start? We make fantastic bacon; we send it in the post to thousands of customers throughout the UK. Customer feedback is what I love. </p> <p><img src="https://assets.econsultancy.com/images/0008/0588/cure_and_simple.png" alt="" width="815" height="412"></p> <p>However, it is also what sucks, like when a balls up happens - which unfortunately does happen from time to time. </p> <p>Something messing up or our end, or a mishap that gives our customers the hump, is a sure fire way to annoy me.  </p> <h3>What kind of goals do you have? What are the most useful metrics and KPIs for measuring success?</h3> <p>Achieving profit without being an arse. Not to over trade - I got caught out big time a few years back and still feel the sense of shame in letting down a client.</p> <p>With regards to measuring success, there are lots of things I could point to - from customer feedback to number of refunds, or indeed our churn rate. </p> <p>However, the number one measurement is that we bring in more money a month through sales than goes out. </p> <h3>What are your favourite tools to help you to get the job done?</h3> <p>MySQL Workbench is my number one tool for querying our databases - it saves a huge amount of time and money not having to pay someone else to do it for me. </p> <p>Google Analytics for all your standard web usage metrics.</p> <p>And it’s also safe to say that we probably would not have a business if Facebook and Twitter did not exist.</p> <p>People don’t exactly search for ‘Bacon by Post’ on Google.</p> <h3>How did you get started in the digital industry, and where might you go from here?</h3> <p>I got involved in streaming media back in the late nineties, essentially streaming event-based content on the internet, and this lead to building lots of web applications for the big tech companies. </p> <p>I always liked the subscription nature of software, so I just wanted to apply it to something a lot more tangible. </p> <p>The future - who knows! But putting our data to good work would be towards the top of the list.</p> <h3>Which brands do you think are doing digital well?</h3> <p>Any brand that is trying to use the underlining technology of digital (IP) to disrupt an industry gets my thumbs up. </p> <p>Amazon is probably the top of my list. The Internet of Things is a massively exciting space.</p> <h3>Do you have any advice for people who want to work in the digital industry?</h3> <p>The foundation of any career in digital should be a working knowledge of the tech that supports it.</p> <p>Know the difference between your API’s and KPI’s. Once you have that no one can pull the wool over your eyes. </p> <p>Finally, a quote from Facebook, and one which I firmly believe in - ‘Done is better than perfect’.</p> tag:econsultancy.com,2008:Report/3008 2016-10-20T16:10:00+01:00 2016-10-20T16:10:00+01:00 Internet Statistics Compendium Econsultancy <p>Econsultancy’s <strong>Internet Statistics Compendium</strong> is a collection of the most recent statistics and market data publicly available on online marketing, ecommerce, the internet and related digital media. </p> <p><strong>The compendium is available as 11 main reports (in addition to a B2B report) across the following topics:</strong></p> <ul> <li><strong><a href="http://econsultancy.com/reports/advertising-media-statistics">Advertising</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/content-statistics">Content</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/customer-experience-statistics">Customer Experience</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/web-analytics-statistics">Data and Analytics</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/demographics-technology-adoption">Demographics and Technology Adoption</a></strong></li> <li><strong><a href="http://econsultancy.com/uk/reports/ecommerce-statistics">Ecommerce</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/email-ecrm-statistics">Email and eCRM</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/mobile-statistics">Mobile</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/search-marketing-statistics">Search</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/social-media-statistics">Social</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/strategy-and-operations-statistics">Strategy and Operations</a></strong></li> <li><strong><a title="B2B Internet Statistics Compendium" href="http://econsultancy.com/reports/b2b-internet-statistics-compendium">B2B</a></strong></li> </ul> <p>Updated monthly, each document is a comprehensive compilation of internet, statistics and online market research with data, facts, charts and figures.The reports have been collated from information available to the public, which we have aggregated together in one place to help you quickly find the internet statistics you need, to help make your pitch or internal report up to date.</p> <p>There are all sorts of internet statistics which you can slot into your next presentation, report or client pitch.</p> <p><strong>Those looking for B2B-specific data should consult our <a title="B2B Internet Statistics Compendium" href="http://econsultancy.com/reports/b2b-internet-statistics-compendium">B2B Internet Statistics Compendium</a>.</strong></p> <p> <strong>Regions covered in each document (where available) are:</strong></p> <ul> <li><strong>Global</strong></li> <li><strong>UK</strong></li> <li><strong>North America</strong></li> <li><strong>Asia</strong></li> <li><strong>Australia and New Zealand</strong></li> <li><strong>Europe</strong></li> <li><strong>Latin America</strong></li> <li><strong>MENA</strong></li> </ul> <p>A sample of the Internet Statistics Compendium is available for free, with various statistics included and a full table of contents, to show you what you're missing.</p> tag:econsultancy.com,2008:BlogPost/68407 2016-10-14T16:21:27+01:00 2016-10-14T16:21:27+01:00 The five things every company can learn from the Wells Fargo scandal Patricio Robles <h3>Sales goals aren't bad, but...</h3> <p>In the wake of its scandal, Wells Fargo has vowed to end retail banking product sales goals.</p> <p>"We are eliminating product sales goals because we want to make certain our customers have full confidence that our retail bankers are always focused on the best interests of customers," Wells Fargo CEO John Stumpf said in a statement.</p> <p>But sales goals aren't inherently bad, and Stumpf's statement seems to take the misguided view that sales goals are in conflict with the interests of customers.</p> <p>That isn't the case.</p> <p>What is bad are<strong> sales goals that are unrealistic and that employees don't believe they can meet.</strong></p> <p>The fact that over 5,000 Wells Fargo employees were fired for being involved in the creation of more than 2m fraudulent accounts strongly suggests that Wells Fargo's sales goals were either not tied to reality or that the employees asked to hit them didn't feel they had the support and resources needed to do so.</p> <p>Indeed, one former Wells Fargo employee <a href="https://consumerist.com/2016/09/19/4-things-former-wells-fargo-workers-revealed-about-pressure-to-meet-sales-goals/">said</a> that she was told to increase sales 35% each year, a nearly impossible task given that she was in a small town with a finite customer base.</p> <h3>You need good products to cross-sell successfully</h3> <p>In response to the crisis it faces, Wells Fargo has also instructed employees to stop cross-selling.</p> <p>A memo sent to some Wells Fargo call center employees <a href="http://www.wsj.com/articles/wells-fargo-curbs-product-cross-selling-1473715298">stated</a> "please suspend referrals of products or services unless requested by customers until further notice."</p> <p>While that move may be advisable for Wells Fargo given the current situation, here too it's unwise to draw the broader conclusion that cross-selling is bad.</p> <p>It isn't. </p> <p>The reason it was so problematic for Wells Fargo is that the bank was cross-selling products consumers in many cases didn't want, or wouldn't want if they knew what they were buying.</p> <p>For example, one of the products that employees reportedly pushed hard to customers was overdraft protection, a "potentially costly" offering "they didn’t always need or realize they were getting."</p> <p>Effective cross-selling involves the promotion of quality products that customers might want or need based on their profile or purchase history.</p> <p>It does not involve deception or the pushing of products for the purpose of maximizing revenue without maximizing customer value. </p> <h3>Commoditisation sucks, especially when you don't deal with it</h3> <p>Wells Fargo's apparently unrealistic sales goals and aggressive cross-selling belied a harsh but simple truth: Retail and business banking are increasingly commoditised. </p> <p>Commoditisation is challenging in any industry, but it doesn't have to be a death knell.</p> <p>Wells Fargo could have recognised the nature of the market it is in and implemented <a href="http://www.strategyand.pwc.com/perspectives/2015-retailbanking-trends">customer-focused strategies</a>, but instead, the giant bank appears to have assumed that its existing customer base was an easily exploitable asset that it could take advantage of without consequence.</p> <p>That was a huge mistake.</p> <h3>Fear and pressure are not viable employee incentives</h3> <p>According to Khalid Taha, who worked as a personal banker for Wells Fargo in San Diego for three years, "I had to meet quotas every day, if I didn't then I could be written up and fired."</p> <p>His story mirrors that of other former employees <a href="http://money.cnn.com/2016/09/09/investing/wells-fargo-phony-accounts-culture/">who are speaking out</a>.</p> <p>Many of the rank-and-file workers who were involved in signing customers up for phony accounts didn't have nearly as much to gain monetarily as Wells Fargo executives, one of whom retired with a $125m payday. </p> <p>Instead, the picture that has emerged is one in which most employees who were engaged in the phony accounts scheme were doing so primarily because they felt fear and pressure, which should never be used to motivate employees who are responsible for selling.</p> <h3>A reputation can be destroyed in an instant</h3> <p>Wells Fargo has long been considered one of the most conservative of the large US banks, and emerged from the financial crisis of 2008 with far less reputational damage than most of its peers.</p> <p>But now, Wells Fargo has been turned into the latest poster child for everything that is wrong with the banking industry, proving what billionaire investor Warren Buffett once observed...</p> <blockquote> <p>It takes 20 years to build a reputation and five minutes to ruin it. </p> </blockquote> <p>Ironically, Buffett's firm, Berkshire Hathaway, owns 10% of Wells Fargo, making it the bank's largest shareholder and the <a href="http://www.vanityfair.com/news/2016/09/warren-buffett-wells-fargo">biggest loser</a> in the decline of Wells Fargo's stock.</p> <p>Buffett once stated, "Lose money for the firm and I will be understanding. Lose a shred of reputation for the firm, and I will be ruthless."</p> <p>Buffett hasn't yet spoken publicly about the Wells Fargo scandal, but if the octogenarian investor lives by his past words, Wells Fargo's reputational woes could quickly become even more costly.</p> tag:econsultancy.com,2008:BlogPost/68418 2016-10-14T13:33:36+01:00 2016-10-14T13:33:36+01:00 10 stupendous digital marketing stats from this week Nikki Gilliland <p>Luckily there’s lots of other good stuff to enjoy, including news on travel search, smartphone use and mobile ad spend.</p> <p>You can also download the <a href="https://econsultancy.com/reports/internet-statistics-compendium" target="_blank">Internet Statistics Compendium</a> for even more juicy stats and insight.</p> <h3>Visits to holiday rental sites double</h3> <p>According to new data from Hitwise, there has been a 112% increase in visits to holiday rental sites such as Airbnb and Homeaway.</p> <p>Based on the behaviour of 3m online consumers, the findings show that while the majority of visits to hotel aggregators come from search engines, a high proportion of visits to holiday rental sites originate on social media channels.</p> <p>The research also found a difference in search terms - the majority of hotel searches were related to “cheap” and “deal”, however, the biggest keywords for holiday rental searches were “hot tubs” or “villas”. </p> <p>This shows how consumers desire a more tailored approach to holiday-booking rather than one based on price.</p> <h3>Hasbro and Lego lead ecommerce race in run up to Christmas</h3> <p>Research from global ecommerce analytics firm Profitero has found that Hasbro is currently the leading brand in the Amazon UK best-selling toys and games category.</p> <p>The brand now has seven products in the top 100, meaning it has just edged out Lego.</p> <p>Despite winning in the UK last year, Lego is currently in a strong position in the equivalent US list, with a total of 11 products featured in the top 100.</p> <p><img src="https://assets.econsultancy.com/images/0008/0360/Toys_and_Games.PNG" alt="" width="532" height="307"></p> <h3>48% of millennials used a smartphone to plan travel in the past year</h3> <p>From a study of 2,000 people, Signal has found that consumers are becoming increasingly digital when it comes to booking travel - with millennials in particular driving this change.</p> <p>The study found that 42% of people now use their smartphones for booking both airline tickets and hotel rooms more frequently than they did a year ago.</p> <p>In comparison, booking via desktop has increased just 15%.</p> <p>Further to this, personalisation is becoming more important to young people.</p> <p>48% of millennials planned a trip with their smartphone during the past year, with 29% of this age demographic desiring a booking experience that is customised to their needs and preferences.</p> <h3>Mobile ad spend overtakes PC for the first time</h3> <p>A new report from PwC and IAB has found that spend on digital advertising increased 16.4% in the first half of 2016. </p> <p>Reaching £4.78bn, it saw the highest growth rate in two years.</p> <p>The report also shows that the amount companies spent on mobile display ads overtook that of PC and tablet display for the first time ever.</p> <p>This reflects the rapid growth of time spent on smartphones, as this June saw UK adults reportedly spent 46% of their internet time on a mobile compared to 41% on a desktop or laptop.</p> <p>The demographic that spends more time of their smartphones than anyone is women aged between 18 to 24.</p> <p><img src="https://assets.econsultancy.com/images/0008/0358/digital_ad_spend.PNG" alt="" width="662" height="409"></p> <h3>66% of consumers shop cross-border</h3> <p>The third annual Global Online Shopping Survey from Pitney Bowes has revealed that cross-border shopping is now more popular with consumers.</p> <p>The survey found that, as well as 94% of consumers making a domestic online purchase in the past year, 66% of them have also purchased online from another country.</p> <p>Out of the countries with the highest number of cross-border shoppers, Singapore and Australia top the list, with 89% and 86% of consumers regularly shopping elsewhere.</p> <p>Regardless of country, the survey also shows that approximately half of consumers say that most of their internet-based shopping is done through an online marketplace.</p> <h3>Disney is among the top US Halloween searches of 2016</h3> <p>Hitwise, a division of Connexity, suggests that Disney is having a big influence in this year’s US online Halloween trends. </p> <p>“Disney Moana” is the most popular overall search term so far, as well as “Belle”, “Beast” and “Ariels” all showing increased interest from 2015.</p> <p>Alongside this, Hitwise has also noted the emergence of a trend for beard-related search terms.</p> <p>Mentions of the word “beard” or “beards” in costume searches are up 18% YoY, while searches for “Halloween costume for guys with beards” are four times greater than in 2015.</p> <p><img src="https://assets.econsultancy.com/images/0008/0356/Halloween_search.PNG" alt="" width="303" height="495"></p> <h3>American consumers never plan to spend full price at Christmas</h3> <p>According to Accenture, 44% of US consumers plan to spend more than they did last Christmas.</p> <p>But despite this, 42% say they rarely or never expect to pay full price for gifts.</p> <p>Based on an online poll of 1,500 consumers, the Accenture Holiday Shopping Survey found that 67% of consumers plan to shop around from different retailers in order to get the lowest price.</p> <p>Moreoever, 72% would shop with a retailer they haven't used in the last year if they are offered a promotion or discount.</p> <p>Despite this, consumers are now becoming more open to share personal information, with 54% saying they would be willing to do so for an offer or discount in return.</p> <h3>60% of influencers assess a brand’s reputation before working with them</h3> <p>Econsultancy’s <a href="https://econsultancy.com/reports/the-voice-of-the-influencer/" target="_blank">Voice of the Influencer report</a>, in association with Fashion &amp; Beauty Monitor, has found that influencers are now taking more control when it comes to working with brands.</p> <p>From an online survey of a select number of influencers, 60% said that they always consider a brand’s heritage and reputation before entering into a working relationship.</p> <p>Second to this, 56% also said that a brand’s ethos and values are critical factors to consider. </p> <p>This demonstrates the shift of power within influencer marketing, with online personalities now calling the shots over big name brands.</p> <p><img src="https://assets.econsultancy.com/images/0008/0359/Influencers.PNG" alt="" width="296" height="494"></p> <h3>Southern Rail fail results in Twitter storm</h3> <p>British commuters were left frustrated again this week, with many taking to social media to vent their frustration at the latest strike action from Southern Rail employees.</p> <p>According to data from Spredfast, 10,000 tweets were sent in a single day on Tuesday – the first day of the official RMT walkout. </p> <p>The hashtag #southernfail was used in over 2,000 tweets, seeing a particular spike at around 8:30am during the delayed commute to work. </p> <p>Overall, 96% of Twitter activity showed no positivity at all, with very few tweets in support of RMT.  </p> <p><img src="https://assets.econsultancy.com/images/0008/0357/Spredfast.PNG" alt="" width="600" height="300"></p> <h3>Use of everyday mobile payments triples </h3> <p>In a poll of 36,800 online consumers across Europe, Visa has found that 54% of consumers now use a mobile device to make everyday payments – this is compared to just 18% in the same survey last year.</p> <p>In the UK, 74% of consumers regularly use their mobile device to manage their money or make a payment in person, online or in an app.</p> <p>Furthermore, 59% also use their mobile devices to transfer money to friends and family, while 45% use them to buy takeaway meals.</p> <p>Overall, the report shows that consumers are becomingly equally confident in making both large and small purchases using their mobile.</p> tag:econsultancy.com,2008:BlogPost/68371 2016-10-10T10:10:21+01:00 2016-10-10T10:10:21+01:00 Why travel retail is big business for beauty brands Nikki Gilliland <p>We all love a bit of duty free, don’t we? </p> <p>But when it comes to what people are buying at airports and stations, it appears that health and beauty is at the very top of the consumer's agenda.</p> <p>Today <a href="https://econsultancy.com/blog/68087-six-brilliant-blogs-from-the-beauty-industry/" target="_blank">beauty</a> accounts for around a third of all travel retail sales.</p> <p>So, it’s unsurprising that many brands are focusing in on this area. Here’s a few reasons why.</p> <h3>Capitalising on the 'golden hour'</h3> <p>The appeal of shopping at airports used to centre around the concept of duty-free – the fact that consumers might bag a bargain on the way to Majorca or Marrakech.  </p> <p>Now, it has become so much more, with travel retailers cottoning onto the fact that airports can provide a shopping experience to rival the biggest malls in the world.</p> <p>Labelled the <a href="http://thembsgroup.co.uk/internal/retail_takes_off_in_the_golden_hour/" target="_blank">‘golden hour</a>’, there is a period of time that begins when a traveller steps through security and ends the moment they board a plane – and it is prime time for spending. </p> <p>As a result, many retailers have begun experimenting with the airport as a unique space - one that is perfect for trialling new ideas and concepts.</p> <p><img src="https://assets.econsultancy.com/images/0007/9865/airport.jpg" alt="" width="780" height="494"></p> <p>We’ve seen the likes of Cath Kidston and Paperchase pop up with outlets in most major airports, and with more of a demand for their products, beauty brands seem to be following suit.</p> <p>Alongside World Duty Free, it’s not unusual to see the likes of Dior and Jo Malone as stand-alone stores.</p> <p>What’s more, as <a href="https://econsultancy.com/blog/67838-heathrow-airport-s-route-to-digital-transformation/" target="_blank">Heathrow Airport's</a> new personal shopper service shows, airports have become more about the experience consumers can have before they get on the plane, rather than about the act of travelling itself.  </p> <h3>Promoting convenience and exclusivity</h3> <p>Another reason beauty brands account for such a big part of travel-related spending is that the product itself is perfectly aligned to the notion of ‘on-the-go’.</p> <p>Minis or ‘travel sets’ are aimed at global jetsetters who don’t want the hassle of taking full-size products along with them. </p> <p>Meanwhile, for brands, it enables them to promote their products as being exclusive to airports or duty-free stores.</p> <p>An example of a company that cleverly combines both of these factors is Revlon.</p> <p>Last year, it launched a new Travel Series Collection of make-up specifically for on-board travellers.</p> <h3><img src="https://assets.econsultancy.com/images/0007/9863/Revlon.JPG" alt="" width="780" height="464"></h3> <p>Instead of creating a <a href="https://econsultancy.com/blog/62969-are-companies-merging-the-digital-and-physical-customer-experience/" target="_blank">physical presence</a> in an airport, Revlon counts on the fact that consumers will more be willing to spend on a sense of exclusivity – a product that cannot be found elsewhere. </p> <h3>Aligning the luxury and the everyday</h3> <p>Although Revlon’s foray into the sector shows that there is opportunity for more affordable brands, travel retail is traditionally a market for the luxury and high end.</p> <p>Research shows that airports account for <a href="https://mediaiqdigital.com/from-2006-to-2016-the-striking-growth-of-travel-retail/" target="_blank">5% of total luxury sales</a>.</p> <p>And with consumers that buy luxury traditionally having a higher holiday budget than those that don’t, it makes sense that this demographic will be willing to spend big at the airport.</p> <p><img src="https://assets.econsultancy.com/images/0007/9864/holiday_spending.JPG" alt="" width="780" height="416"></p> <p>Having said that, we cannot ignore the fact that budget airlines and accommodation marketplaces (such as <a href="https://econsultancy.com/blog/68225-10-examples-of-great-airbnb-marketing-creative/" target="_blank">Airbnb</a>) have made global travel more of a level playing field.</p> <p>As a result, this means more flexibility for beauty companies that might otherwise target a limited demographic.</p> <p>A company like L’Oreal, for example, has enough brands in its portfolio that it is able to target a wide range of consumers – regardless of their socio-economic status.</p> <p>Instead of online or even physical stores, where people are much more likely to stick to what they know, the area of travel retail presents a unique opportunity to target all kinds of shoppers – all equally eager to partake in a pre-holiday splurge.</p> tag:econsultancy.com,2008:BlogPost/68374 2016-10-06T12:12:00+01:00 2016-10-06T12:12:00+01:00 10 quotes from Unilever CMO Keith Weed at the Festival of Marketing 2016 Ben Davis <p><strong>On agencies </strong></p> <p>"Is the agency model broken? All models have decay in them. We have to move forward. Agencies <em>are</em> evolving though, let's be clear.</p> <p>"The big holding companies have changed over the last five years. I love agencies, by the way, we've been working with JWT and WPP for over 100 years.</p> <p>"Too often, the marketer's response when things aren't going well is to get rid of the agencies.</p> <p>"But you lose 6-9 months when you do that, through pitches, retooling etc. What you need to do is find the brilliant people inside the agency and get them to work on your business."</p> <p><img src="https://assets.econsultancy.com/images/0007/9963/keith.jpg" alt="keith weed" width="350"></p> <p><strong>On digital job titles </strong></p> <p>"I've never appointed a chief digital officer. It comes down to the same thing as <a href="https://en.wikipedia.org/wiki/Corporate_social_responsibility">CSR</a>, their shouldn't be just one department focused on the issue.</p> <p>"Is the CDO doing digital so that others don't have to? It should be mainstream. </p> <p>"I never put digital or data into anyone's job title, because it's the surest way to get them headhunted."</p> <p><strong>On staff training </strong></p> <p>"We created mandatory training in the form of e-modules. This was very much anti-cultural in Unilever - we didn't have compulsory training before.</p> <p>"I also threatened to stick photos on the wall of those that didn't take part from my team. You have to be cruel to be kind.</p> <p>"Either get another job or engage right now in making yourself a better marketer, because there's a generation coming through who are very skilled in this area.</p> <p>"Organise yourself and find the time to learn."</p> <p><strong>On digital trends </strong></p> <p>"We need to learn to 'live the space' - do everything our consumers do online."</p> <p><strong>On brand purpose </strong> </p> <p>"We need to build brands with purpose. We need to go from 'marketing to consumers', to 'mattering to people'."</p> <p><img src="https://assets.econsultancy.com/images/0007/8798/Unilever_SL.JPG" alt="unilever" width="600"></p> <p><strong>On calling Unilever 'the biggest digital startup'</strong></p> <p>"The biggest digital startup? Well, the easy answer is we’re not.</p> <p>"But it’s important to grab attention in this ever more cluttered world.</p> <p>And it’s important to change business models, to be inspired by startups, because the model of the past is not the model of the future."</p> <p><strong>On millenials</strong> </p> <p>"By 2025, 75% of the workforce will be millennial, so we need to understand them as a workforce, not just as consumers."</p> <p><strong>On experimentation</strong></p> <p>"Investing in stuff is hard. The cycle of 'experiment, fail, learn, repeat' is harder. But embracing disruption and agility is hardest."</p> <p><strong>On startup culture </strong></p> <p>"We do mentoring of startups and then reverse mentoring where we learn from the startups."</p> <p><strong>On success </strong></p> <p>"80% of success is showing up. We need to show up, then we can compete and build new brands for the future.</p> <p>"Pull the future forward and the outside in."</p> <p><em>For more from Keith's talk, <a href="https://econsultancy.com/blog/68376-unilever-the-biggest-digital-start-up-in-the-world/">see my colleague Nikki's write up</a>.</em></p> tag:econsultancy.com,2008:BlogPost/68376 2016-10-05T13:07:00+01:00 2016-10-05T13:07:00+01:00 Unilever: The biggest digital start-up in the world? Nikki Gilliland <p>Not quite.</p> <p>But an attention-grabbing headline is no bad thing, and Keith's talk focused on how Unilever's business model has adapted in an ever-changing world, inspired by the rise of the disruptive digital startup.</p> <p>Here’s a summary...</p> <h3>The changing landscape</h3> <p>Keith began by reminding us how the consumer journey has changed beyond recognition.</p> <p>And of course, you don’t have to be in advertising to have noticed this fact.</p> <p>With smartphone use taking over desktop for the first time this year, it’s not just what people are watching, but how people are watching it.</p> <p>Instead of seeing a TV ad on Thursday night and buying a product on a Saturday morning, the path to purchase is much more complex. </p> <p>Sharing, video, trust, sustainability, mobile - all these things are increasing important to millennials.</p> <p>And with millennials predicted to make up 75% of the workforce by 2025, understanding how to engage this core demographic is vital to understanding the workforce, not just Unilever consumers.</p> <p>So, how can a brand engage consumers at the right place and right time?</p> <h3>How can Unilever compete?</h3> <p>In order to keep pace with young and innovative brands, Keith highlighted three key parts of Unilever’s strategy.</p> <h4><strong>1. A differentiated strategy</strong></h4> <p>While any strategy is important to business, a digital strategy is fundamental in today’s changing landscape. </p> <p>When Keith first became CEO of Unilever, he undertook an exercise on trends within the business, discovering the four big drivers that would shape the business in future. </p> <p>Firstly, he cites the digital revolution, with companies like Twitter being the driving force behind this change. </p> <p>Next is how people are living differently, moving out of the countryside into towns and cities, as well as people and business moving south and east across the globe.</p> <p>Lastly, and probably most importantly for Unilever, is the environment under stress.</p> <p>In determining these four factors, the brand decided to move forward with social and environmental <a href="https://econsultancy.com/blog/68269-how-unilever-is-targeting-the-conscious-consumer/" target="_blank">sustainability as its core motivation</a>. </p> <p>Keith cited “building brands with purpose and which matter to people” as one of Unilever’s key engagement strategies. </p> <p>And a portfolio including the likes of T2 and <a href="https://econsultancy.com/blog/68139-the-rise-of-the-direct-to-consumer-model-it-s-not-just-dollar-shave-club/" target="_blank">Dollar Shave Club</a> also shows how Unilever is adapting to a distinct digital startup mentality.</p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">.<a href="https://twitter.com/Unilever">@Unilever</a> Keith Weed on millennials, disruption &amp; the rise of unicorns <a href="https://twitter.com/hashtag/FOM16?src=hash">#FOM16</a> <a href="https://twitter.com/FestofMarketing">@FestofMarketing</a> <a href="https://twitter.com/MarketingWeekEd">@MarketingWeekEd</a> <a href="https://t.co/bvEdrDuLYu">pic.twitter.com/bvEdrDuLYu</a></p> — Charlotte Rogers (@Chardy_Rogers) <a href="https://twitter.com/Chardy_Rogers/status/783583321494319104">October 5, 2016</a> </blockquote> <h4><strong>2. Being bold and experimentation</strong></h4> <p>Alongside Unilever’s differentiated strategy is a big focus on experimentation.</p> <p>Firstly, through Unilever Ventures - investing in the kind of companies that can better help the brand to understand the digital world.</p> <p>Keith cited Mirriad as a brand that is particularly impressive in its simple yet brilliantly innovative use of technology.</p> <p>Essentially, it inserts product placement into syndicated television during post-production, allowing brands to become visible.</p> <p>Further to this type of investment, the Unilever Foundry is another way the startup ethos has been purposely brought into the company, through a culture of 'experiment, fail, learn, repeat'.</p> <p>With a 50% success rate in working alongside startups, it is a division that continues to push boundaries with success stories such as the ability to personalise Marmite bottles or work with Olapic to capture user-generated imagery.</p> <p>By working with external companies, Unilever has ultimately changed the way it operates internally.</p> <p>Using mentors and advisors to inspire learning – and even implementing reverse mentoring from startups – it has created a culture built on innovation through collaboration, and one that embraces disruption. </p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">"Make investments that help you understand the digital world and innovate the way you do <a href="https://twitter.com/hashtag/marketing?src=hash">#marketing</a>" <a href="https://twitter.com/hashtag/FOM16?src=hash">#FOM16</a> <a href="https://t.co/Zbv8QqE9JP">pic.twitter.com/Zbv8QqE9JP</a></p> — Keith Weed (@keithweed) <a href="https://twitter.com/keithweed/status/783588358819835904">October 5, 2016</a> </blockquote> <h4><strong>3. Tooling up</strong></h4> <p>Lastly, Keith talked about how skills and capability building is at the core of Unilever’s strategy.</p> <p>You’d never see a sports team sitting around eating crisps before a game, would you?</p> <p>So why do marketers think so differently about training?</p> <p>Keith hammered home the fact that businesses need to accept that we need to take a different approach to skills and capabilities in this ever changing world. </p> <p>On one hand, we have the digital natives – those who have grown up with technology.</p> <p>But on the other we have the ‘lost generation’ - the people in their late thirties early forties who might lack knowledge, but do not seek help to further it. </p> <p>As a result, Unilever invests in training across the board, with an increased budget for mandatory training.</p> <p>Keith talked about this mandatory training as 'being cruel to be kind' because if we don't learn as marketers, there's another generation coming through that knows a lot in this area.</p> <h3>Living the space</h3> <p>Keith finished by emphasising the importance of ‘living the space’.</p> <p>In other words – doing all the things that consumers do in order to gain inspiration and insight. </p> <p>Instead of sitting back and watching changes happen, this means being at the forefront when they do.</p> <p>So, while Unilever might not actually be the biggest digital startup in the world, we can see why it might inspire the smallest.</p> tag:econsultancy.com,2008:Report/4263 2016-10-05T12:00:00+01:00 2016-10-05T12:00:00+01:00 Conversion Rate Optimization Report 2016 <p>This is the eighth annual Econsultancy <strong>Conversion Rate Optimization Report</strong>, in association with <strong><a href="http://www.redeye.com/">RedEye</a></strong>.</p> <p>The research looks at the types of conversion strategies and tactics organizations are using, in addition to the tools and processes employed for improving conversion rates.</p> <p>As well as touching on the use and impact of personalization, the report explores different areas of best practice and identifies methods and techniques which are most valuable for improving conversion rates.</p> <p>The aim is to provide data and a framework to help companies invest their time and resources as effectively as possible by examining which methods and processes are most likely to yield results.</p> <h2>What you'll learn</h2> <ul> <li>Find out the types of conversions and measurements organizations are using and the best practices that shape them.</li> <li>Discover the most valuable methods used to improve conversion rates and the methods organizations will be using in the future.</li> <li>Understand how companies are using personalization as part of their CRO efforts and the effect this has on conversions.</li> <li>Benchmark your organization's approach to CRO using the Conversion Maturity Model.</li> <li>The six key factors contributing to CRO success.</li> </ul> <p><strong>Download a copy of the report to learn more.</strong></p> tag:econsultancy.com,2008:BlogPost/68323 2016-09-26T14:33:00+01:00 2016-09-26T14:33:00+01:00 Getting started with programmatic? Here are some tips from the experts Seán Donnelly <p>If you are a Marketing Director and you’ve heard how your competitors are benefitting from programmatic and aren’t sure where to get started, you might find these suggestions from the GWTP panellists helpful.</p> <p>The key insight here is that all speakers emphasised the importance of people, skills and procedures above technology.</p> <h3>1. Knowledge</h3> <p>Marketers need to understand the programmatic ecosystem and the different use cases involved.</p> <p>Shamless plug: <a href="https://econsultancy.com/reports/the-cmo-s-guide-to-programmatic/search/?only=BlogPost&amp;q=programmatic">Econsultancy’s CMO’s Guide to Programmatic</a> has a whole chapter on understanding the programmatic ecosystem.</p> <p>Also, at the most basic level, marketers need to understand their customer.</p> <p>Panellists were at pains to point out that even if marketers spend lots of money on the tools required to deliver programmatic campaigns, if they don’t make the most of these tools to capture insights and optimise campaigns, then they may in fact end up delivering hyper targeted but irrelevant or annoying advertisements.</p> <p>For example, one speaker spoke of being retargeted with an ad to purchase a bicycle for three weeks after completing his purchase.</p> <h3>2. Procedures</h3> <p>While the tech may be ready, the last example demonstrates that skills and procedures may not be.</p> <p>Any company that makes use of programmatic technologies will need to examine current procedures and map out how these should change in order to integrate programmatic into other activities.</p> <p>This includes understanding what data you have and the role that your marketing agencies play in terms of bringing it all together. It's not just one person that can do all of this.</p> <h3>3. Skills</h3> <p>Companies require a team of people, right through from legal through to brand and digital expertise and data management. </p> <p>In addition, some of the key skills mentioned were of course data science and analytical thinking coupled with strong commercial awareness and an understanding of the fundamentals of marketing.</p> <p>There is huge demand for data science and analytical skills from all sectors.</p> <p>Research from <a href="https://econsultancy.com/reports/quarterly-digital-intelligence-briefing-2016-digital-trends/">Econsultancy’s 2016 Digital Trends</a> report suggests that only 37% of companies have the analysts that they need to make sense of their data.</p> <p><img src="https://assets.econsultancy.com/images/0007/9558/37__of_companies_have_the_analysts_that_they_need_to_make_sense_of_their_data.JPG" alt="" width="595" height="493"></p> <h3>4. Technology and data</h3> <p>Technology and data are key to running programmatic effectively.</p> <p>If you are having trouble getting your head around the tools involved and the plethora of TLAs (Three Letter Acronyms!), check out Econsultancy’s report: <a href="https://econsultancy.com/reports/programmatic-marketing-beyond-rtb/">Programmatic Marketing: Beyond RTB</a>.</p> <p>One speaker highlighted the importance of making sure that whatever technology is used, it must be integrated into other procedures and tools and not simply act as a third-party bolt on.</p> <p>Only when this happens will there be an opportunity to be able to surface customisable and actionable data.</p> <p>Finally, without actionable data, marketers run the risk of over or under targeting consumers.</p> <p>Without data, marketers will not be able to develop <a href="https://econsultancy.com/blog/65425-what-is-the-single-customer-view-and-why-do-you-need-it/">a single customer view</a> and so while they may apply frequency capping to different channels, there is still a chance of over targeting.</p> <p>A single customer view will allow marketers to frequency cap users rather than devices and, in addition, sequentially message users depending on where they are in their customer journey. <br> </p> <h3>5. Budget and strategy</h3> <p>Making effective use of programmatic requires a <a href="https://econsultancy.com/training/courses/big-data-driven-marketing-how-to-get-it-right/">data-driven marketing strategy</a> at the highest level.</p> <p>This means aligning programmatic with other media and integrating the approach into other marketing activities.</p> <p>Companies should also assign a portion of the budget to test and learn.</p> <p>This is important because how can marketers expect to make any progress if they don't test new ideas? This of course goes beyond programmatic and includes other tactics.</p> <p>Achieving a data-driven strategy might also require an internal sponsor or delegating to somebody who can focus on delivery and setting up the correct internal structure and procedures.</p> <p>The programmatic sponsor can translate programmatic to a level that people understand - these might be senior people who are responsible for assigning budgets, executive leadership and the wider marketing team.</p> <p>This doesn’t mean not making use of agency partnerships. Agencies can still offer guidance around different media approaches and layering different datasets on top of each other. <br> </p> <h3>Getting on top of programmatic</h3> <p>Econsultancy runs regular <a href="https://econsultancy.com/training/courses/programmatic/">programmatic workshops</a> to help marketers cement their understanding of the programmatic landscape.</p> <p>If you already have an understanding of programmatic and want to look at some of the wider strategic use cases and challenges to be aware of, Econsultancy has published a number of reports on the subject:</p> <ul> <li><a href="https://econsultancy.com/reports/the-cmo-s-guide-to-programmatic/">CMO’s Guide to Programmatic</a></li> <li><a href="https://econsultancy.com/reports/programmatic-branding/">Programmatic Branding, Driving Upper Funnel Engagement</a></li> <li><a href="https://econsultancy.com/reports/programmatic-marketing-beyond-rtb/">Programmatic Marketing: Beyond RTB</a></li> <li><a href="https://econsultancy.com/reports/the-role-of-dmps-in-the-era-of-data-driven-advertising/">The Role of DMPs in the Era of Data-Driven Advertising</a></li> </ul> <p>Econsultancy also regularly <a href="https://econsultancy.com/reports/the-cmo-s-guide-to-programmatic/search/?only=BlogPost&amp;q=programmatic">publishes blogs on the subject of programmatic</a>.</p> tag:econsultancy.com,2008:BlogPost/68316 2016-09-22T15:26:28+01:00 2016-09-22T15:26:28+01:00 Brew + Press: Why Molson Coors is merging its sales and marketing teams Nikki Gilliland <p>As highlighted by our <a href="https://econsultancy.com/reports/the-convergence-of-marketing-and-sales" target="_self">Convergence of Marketing and Sales report</a>, this approach is becoming increasingly desirable as a way of streamlining the customer journey.</p> <p>Here’s why the decision could prove effective for Molson Coors and many other brands like it.</p> <h3>Changing customer behaviour</h3> <p>With <a href="https://www.siriusdecisions.com/Blog/2013/Jul/Three-Myths-of-the-67-Percent-Statistic.aspx" target="_blank">67% of the customer’s path to purchase</a> now being conducted online, it has meant that the influence of both marketing and sales has been overtaken by self-directed online research.</p> <p>As a result, there is no longer a clear distinction between the roles of marketing and sales.</p> <p>See the below graph, which highlights how consumer research dominates the active consideration stage. </p> <p><img src="https://assets.econsultancy.com/images/0007/9440/touchpoints_path_to_purchase.JPG" alt="" width="612" height="482"></p> <p>For a company like Molson Coors, the decision to merge the teams means it is able to put on a united front, resulting in a single conversation with the customer rather than a disjointed one.</p> <h3>Focus on personalisation</h3> <p>As well as the changing path to purchase, another motivation behind Brew + Press looks to be the evolving needs of the customer – especially their desire to be educated as well as to enjoy immersive experiences.</p> <p>Speaking about the new division, Martin Coyle, Marketing Director for the UK and Ireland, commented:</p> <blockquote> <p>There is a growing appetite among consumers to learn more about beer, cider and spirits, as well as for experiences and learning about the brands themselves.</p> <p>Brew + Press intends to go after that market opportunity and talk to the consumer in the way they want to be spoken to.</p> </blockquote> <p>While sales teams were once the only way to deliver a personalised experience (through one-to-one interaction), marketing automation now means that companies can communicate highly relevant and personalised messages to consumers at all stages.</p> <p>Brew + Press looks set to target experience-hungry consumers by hosting events like beer and cider tasting, cocktail masterclasses, and food and drink pairings. </p> <p><img src="https://assets.econsultancy.com/images/0007/9441/Brew___Press.JPG" alt="" width="740" height="493"></p> <h3>Shift towards an omnichannel experience</h3> <p>Today, the customer journey is far more difficult to track than it used to be.</p> <p>Instead of the traditional funnel (seen below) and a single channel, consumers move from one device to another, from offline to online and back again.</p> <p>This means that opportunities for sales and marketing have also changed.</p> <p><img src="https://assets.econsultancy.com/images/0007/9443/Path_to_purchase.JPG" alt="" width="600" height="552"></p> <p>Sales teams are attempting to extend their reach into earlier stages of the customer’s journey, while marketers are encroaching closer to the purchase decision. </p> <p>As a result, taking into consideration the drive towards technology integration, it makes far more sense to join forces.</p> <p>In doing so, a seamless experience for the customer across all channels can be achieved. </p> <p>While Molson Coors is only merging its sales and marketing in London for now, it is hoping that the decision will set a precedent for other markets. </p> <p><strong>Subscribers can download the <a href="https://econsultancy.com/reports/the-convergence-of-marketing-and-sales" target="_blank">Convergence of Sales and Marketing</a> report here.</strong></p> <p><em>Further reading on the blog:</em></p> <ul> <li><a href="https://econsultancy.com/blog/68047-the-sales-marketing-departments-why-how-they-should-merge/" target="_blank">The Sales &amp; Marketing departments: Why &amp; how they should merge</a></li> <li><a href="https://econsultancy.com/blog/66736-marketing-and-sales-how-will-they-work-together-in-the-future/" target="_blank">Marketing and sales: how will they work together in the future?</a></li> </ul>