Digital Transformation: Making The Leap From Digital Dinosaur To Digital Disruptor
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Transcript of Digital Transformation: Making The Leap From Digital Dinosaur To Digital Disruptor
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Digital Transformation:Making The Leap From Digital Dinosaur To Digital Disruptor
Sponsored by
KATIE EVANSMODERATOR
Editor, Mobile Strategies 360Internet Retailer
BRENDAN WITCHERPrincipal Analyst
Forrester Research Inc.
PETER BLUMVP Product Management
Instart Logic
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Digital Transformation:Making The Leap From Digital Dinosaur to Digital Disruptor
Brendan Witcher, Principal AnalystMarch 24, 2016@BrendanWitcher
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Empowered customers give rise to a new era.
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© 2016 Forrester Research, Inc. Reproduction Prohibited 4
Empowered customers have given rise to a new era
Age of manufacturingMass manufacturingmakes industrialpowerhousessuccessful
• Ford• Boeing• GE• RCA
Age of distributionGlobal connectionsand transportationsystems makedistribution key
• Wal-Mart• Toyota• P&G• UPS
Age of informationConnected PCs and supply chains meanthose that controlinformation flowdominate• Amazon• Google• Comcast• Capital One
Age of the customerEmpowered buyersdemand a new level ofcustomer obsession
• Macy’s• Salesforce.com• USAA• Amazon
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5© 2016 Forrester Research, Inc. Reproduction Prohibited
The past.
Information
Price LocationTech
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Information
Price Location
Tech
Today.
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Organizations must focus on four market imperatives to meet the needs of customers
Transform the customer
experience
Embrace the mobile mind shift
Become a digital disruptor
Age of the Customer
Turn big data into business
insights
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Your business needs to dramatically change in the age of the customer or risk
being disrupted out of business.
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Welcome to “hyper-adoption”...
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…and “hyper-abandonment”.
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Complexity is the new reality
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Those that see digital as an opportunity for competitive advantage, thrive…
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And while some brands are born digital...
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…others evolve, and achieve digital mastery…
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…while others fail to become digital and disrupt, therefore becoming disrupted.
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No industry is immune
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To survive in the age of the customer, you must become a digital business...
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…which means you need a digital strategy.
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27%Of firms have a holistic digital strategy.
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48%Of firms have a limited digital strategy.
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21%Of firms have the right people setting strategy.
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16%Of firms have the skills to deliver.
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68%Of executives say functional boundaries inhibit their digital maturity.
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Digitize your business strategy.
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Digital businesses win, serve, and retain customers by continuously creating and exploiting digital assets to simultaneously deliver new sources of customer value and increase their operational agility.
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Source: April 16, 2016 “Understand The Digital Business Landscape” Forrester report
Master both sides of digital
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Dig
ital C
usto
mer
Exp
erie
nce
(DC
X)
Digital Operational Excellence (DOX)
Source: September 10, 2016 “ Brief: Take The Digital Business Readiness Assessment”, Forrester report
Digital mastery eludes most firms
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Dig
ital C
usto
mer
Exp
erie
nce
(DC
X)
Digital Operational Excellence (DOX)
Source: September 10, 2016 “ Brief: Take The Digital Business Readiness Assessment”, Forrester report
Don’t succumb to digital extinction
Digital Dinosaur
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Dig
ital C
usto
mer
Exp
erie
nce
(DC
X)
Digital Operational Excellence (DOX)
Source: September 10, 2016 “ Brief: Take The Digital Business Readiness Assessment”, Forrester report
Drive digital efficiency and agility
Digital Dinosaur
Digital Connector
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© 2016 Forrester Research, Inc. Reproduction Prohibited 30Image source: http://www.engadget.com/2016/10/01/starbucks-app-uk-mobile-order-pay/
Macy’s today is rich with content and functionality for serving customers
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The North Face learns the “why” of customers shopping instead of the “what” Image source: https://www.fluid.com/news/the-north-face-ibm-and-fluid-launch-new-interactive-shopping-experience-using-artificial-intelligence-ai
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Dig
ital C
usto
mer
Exp
erie
nce
(DC
X)
Digital Operational Excellence (DOX)
Source: September 10, 2016 “ Brief: Take The Digital Business Readiness Assessment”, Forrester report
Re-position yourself in the ecosystem
Digital Dinosaur
Digital Connector
Digital Operator
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© 2016 Forrester Research, Inc. Reproduction Prohibited 33Image source: http://www.engadget.com/2016/10/01/starbucks-app-uk-mobile-order-pay/
Starbucks reduces checkout time and allows for ordering ahead within one app
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John Lewis uses mobile location technology to optimize offline customer experience
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Package is ready for customer on arrival
Customer is sent notification asking if they would like to collect package
Stock Room is notified of customer arrival and starts to pick the order
App directs customer to collection desk
Discreet plastic “beacons” around the exterior of the store, activate when
customer is 70m away.
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Digital Dinosaur
Digital Connector
Digital Operator
Digital Master
Dig
ital C
usto
mer
Exp
erie
nce
(DC
X)
Digital Operational Excellence (DOX)
Source: September 10, 2016 “ Brief: Take The Digital Business Readiness Assessment”, Forrester report
Iterate and innovate to maintain mastery
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Nordstrom expedited digital transformation by partnering with Shoes of Prey
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Tablet Cradle Offers Customers Convenient Hands-Free Operation
Enough Space Allows For Customers To Relax And Feel Comfortable
Interface Is Simple And Guides Shoppers Through the Process
Designed To Compliment Look And Feel Of Nordstrom Stores
Customers Can Use Tablets With Or Without Associate Assistance
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How do we find digital masters…what do they look like?
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Business modeldesign
Customer experience
design
Technology design and
delivery
Design isn’t sequential any more
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This is not the answer.
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You need to operate iteratively
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Burberry’s iterates towards digital mastery
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Digital businesses think differently about strategy
Digital Strategy
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Bus
ines
s st
rate
gy
Dig
ital s
trate
gy
Strategy
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Bus
ines
s st
rate
gy
Dig
ital s
trate
gy
Strategy Execution
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Bus
ines
s st
rate
gy
Dig
ital s
trate
gyTechnology
Strategy Execution
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Bus
ines
s st
rate
gy
Dig
ital s
trate
gy Culture
Organization
Technology
Metrics
Strategy Execution
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Culture Foster a culture of digital innovation
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Kohl’s puts staff closer innovation by opening it’s Digital Center in Silicon Valley
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Culture
Organization
Foster a culture of digital innovation
Organize to deliver digitally enhanced experiences
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The Nestlé Digital Acceleration Team (DAT) is made up of marketing leaders from around the world who participate in an 8-mouth training
program in digital and social media.
Nestle uses a digital acceleration team and centre of excellence to govern change
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Culture
Organization
Technology
Foster a culture of digital innovation
Organize to deliver digitally enhanced experiences
Enable with technology
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54
Virgin Atlantic is building agility into its organization through technology…
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Look
Book
Travel
Tell
…and designing touchpoints around its lifecycle using web & responsive design…
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…enabling rapid, customer-centric innovation and value-oriented customer experiences
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Culture
Organization
Technology
Metrics
Foster a culture of digital innovation
Organize to deliver digitally enhanced experiences
Enable with technology
Underpin decisions with customer-centric metrics
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Sephora prioritizes understanding customers through digital engagement…
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…encourages self-identification by providing personal experiences offline…
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…and online, allowing them to better understand customers across all channels.
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?So it that it?
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Digital business transformation is a journey, not a destination.
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The Digital Maturity Model
Repair Elevate Optimize Differentiate
Culture
Organization
Technology
Measurement
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Source: Digital Maturity Survey 2016
Digital masters are hard to find
Automotive
Consumer products
Financial services
Health
Technology
Media and communications
Retail and wholesale
Telecommunications
Travel
Other
0% 20% 40% 60% 80% 100% 120%
RepairElevateOptimizeDifferentiate
Repair Elevate Optimize Differentiate
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Source: Digital Maturity Survey 2016
Digital Maturity delivers results
No impact
We have not implemented a multi-touchpoint digital strategy
Increased operating costs
Increased employee morale
Increased offline sales
Increased call center volume
Decreased operating costs
Satisfaction or similar metrics
Increased profitability
Increased online sales
0% 10% 20% 30% 40% 50% 60% 70%
What impact has the implementation of a multi-touchpoint digital strategy had on your company?
DifferentiateRepair
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Digital maturity drives topline growth
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To transform your business, the strategies, tactics, and technology you choose must:
›Meet the needs of today’s digitally-savvy customer, while addressing the rise in mobile commerce and engagement
›Allow IT the agility to move as quickly as the lines of business demand
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Peter BlumVP of Product Management
Instart Logic
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Poll
What is your company doing to drive towards digital mastery?
– Personalized, rich and immersive user experiences– Mobile technology in-store for better customer experiences– Digital Center(s) of Excellence– Adaptive websites tailored for mobile moments– Better understanding of customers using digital engagement
70 | Confidential and proprietary
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Tension between business and technologyLoB/Marketing
Technology
•Conversions, especially on Mobile•Cart Size, personalization, more features•Rapid Testing, New Offers and approaches
•Reliability and Scale•Web App Performance•Multiple Devices esp Mobile•Managing Changes Efficiently
•Performance vs Richness•TTM vs Reliability
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The rise of mobile and its challenges
Mobile commercetraffic growing
25%Mobile conversion
Much lower
73%Average response
time on mobile
5.75sSlower than1 year ago
28%Sources: ComScore, Monetate, Keynote
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Poor load times destroy conversions
0-1 1-2 2-3 3-4 4-5 5-6 6-7 7-8 8-9 9-10 10-11 11-12 12-13 13-14 14-5 >15
Load Time (seconds)
Population (%) Conversion rate (%)
Conversion rate vs. Load Time
Sources: Walmart, Amazon, GlassesDirect
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Looking for• Speed!
• Enable the business to move faster with reliability
• Plus a solution to address performance challenges especially mobile
74 | Confidential and proprietary
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Automatic performance optimizations allow more changes• Machine-learning allows system to discover changes automatically • Allows richer experiences like personalization and rich product
images• Enables a high volume of changes plus super fast performance
ANALYZE OPTIMIZE
LEARN
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Free up developer resources for moving the business forward • Leverage a smart application delivery service vs. building
internally– Optimization of performance for mobile, tablets, and desktops– Right-sizing and adapting images for each type of device– Device detection capabilities for responsive and adaptive web
experiences– Self-service for configuration changes and content management– APIs for everything
76 | Confidential and proprietary
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Already a trusted partner for online businesses
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78 | Confidential and proprietary
Case Study: World of WatchesMetrics
• Avg page load times from 8s to 3s (62.5%)
• 12% directly attributable conversion increase due to speed
• User testing ratings (NPS) score increase
• Controlled environment & minimal delays increasing designer productivity
• Optimized, consistent images across all future platforms
78 | Confidential and proprietary
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Questions?