Putting Digital to Work
Transcript of Putting Digital to Work
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Putting Digital to Work
4 Key Actions to Drive Digital Transformation
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2+ million search queries
Source: Intel
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204,000,000 e-mails sentSource: Intel
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120+ reviews
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30 hours of video uploadedSource: Intel
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100,000 tweets
Source: Intel
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208,000 photo uploads
Source: Intel
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• 44% of all cell users• 40% of those 35-44• 50% of smartphone owners• 60% of those 18-34
Source: Pew Internet & American Life Project
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Fragmented “Customer” Set
Industry Disruption/Disintermedia
tion
Risk-Sensitive Culture Highly Emotional Purchase
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4 key actions
1. Know your customer
2. Lead with data
3. Test and learn
4. Master accountability
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1: KNOW YOUR CUSTOMER
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Date Event Split-adjusted share price
December, 1996 •Launch online trading 3.71
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Date Event Split-adjusted share price
December, 1996 •Launch online trading 3.71
May, 1997 •700k/1.5MM online accounts 4.94
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Date Event Split-adjusted share price
December, 1996 •Launch online trading 3.71
May, 1997 •700k/1.5MM online accounts 4.94
Year-end 1997 7.66
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Date Event Split-adjusted share price
December, 1996 •Launch online trading 3.71
May, 1997 •700k/1.5MM online accounts 4.94
Year-end 1997 7.66
January, 1998 •Cut commissions to $29.95 in all channels
6.67
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Date Event Split-adjusted share price
December, 1996 •Launch online trading 3.71
May, 1997 •700k/1.5MM online accounts 4.94
Year-end 1997 7.66
January, 1998 •Cut commissions to $29.95 in all channels
6.67
Year-end, 1998 •59% commission revenue growth•Pre-tax margin 18% vs. 10.7% industry average•ROIC 5x industry average•50% market share
15.47
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Split-adjusted share price
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•30%-35% of all revenue-based trades occurred online (up from ~0%)•Schwab captured half•All by focusing on
customer
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2: LEAD WITH DATA
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• “You’re not losing placement on one site; you’re gaining placement on a dozen more”
• Defined potential lost revenue to each hotel
• Rolled out with only four brands
• Reported incremental hotel results monthly
• Additional brands asked us to enlist in program
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3: TEST AND LEARN
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“Swing for Fences” or “Slow and Steady”?
• Staged sequence of market tests for client
• Holdback and A/B tests on marketing messages
• Averaged 1.6% increase monthly
• 83% revenue increase over three years
• 22% CAGR
Image source: http://www.usmc.mil/marinelink/image1.nsf/ae82f18a8e1b160b852568ba007e7e5e/afd408b3a327a3d4852570850054af5b/$FILE/02padres01.jpg
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Not “Big Data.” Your data.
• Know your customer
• Competitive differentiator
• Scale when ready
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Visual Information Specialist Jason Johnston/U.S. Army
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4: MASTER ACCOUNTABILITY
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Image © 2011 Manu Cornet http://www.bonkersworld.net/2011/06/27/organizational-charts/
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RAPID• Input
• Recommend
• Decide
• Agree
• Perform
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4 key actions
1. Know your customer
2. Lead with data
3. Test and learn
4. Master accountability
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Thank youWeb: timpeter.com
Phone: 201-305-0055
E-mail: [email protected]
Twitter: twitter.com/tcpeter