It’s the Tools and technology chapter, which has been an absolute beast of a research project. After all, where do you start outlining all of the tools and technologies you need to transform your business to become truly digital? To digitize your business strategy?
The short answer is you don’t.
In most of our research for the Digital Business Transformation Playbook we’ve concentrated on finding and outlining best practice examples of traditional firms that are transforming to embed digital into the heart of their business strategy. As one of our Research Directors so rightly pointed out early in this research, “horses don’t like stories about unicorns”. It’s not so helpful for us to tell you “hey, just copy Amazon” when you run a retail bank with a chain of a thousand branches around the world.
But in this instance we do need to hunt for unicorns.
Because the unicorns are nailing it.
Firms like Amazon, eBay or Spotify manage digital technology on the massive scale, yet retain a high level of innovation and agility. So what sets them and other digital masters, apart from digital dinosaurs in their relationship to technology? What can we learn from how they plan, manage and invest in technology? What we found was:
Federal customer experience (CX) professionals are trying to wage a conventional war against bad CX. But they usually don’t have the budget, personnel, or authorities they need to win big, decisive battles. That’s why federal CX pros should consider changing their approach and use some proven CX guerrilla tactics instead. To make the most of their limited resources, federal CX pros should use their available data, foster rapid-fire experimentation, and create memorable moments that build coalitions. Here’s how.
Make The Best Use Of Available Customer Data
A formal voice of the customer program with both quantitative and qualitative feedback mechanisms is ideal — and you’ll definitely need one eventually — but you don’t need anything that fancy to start improving your CX. Instead:
Aggregate and use the customer data you already have. Most federal agencies have way more customer data than they realize. Even a motley collection of one-off surveys, website and social media analytics, call center logs, and customer emails can be mined to uncover pain points. Don’t worry about painting a photo-realistic picture of your customers. Just aim for a few broad brush strokes that can guide basic CX improvement.
Go for big impact by exposing the unfiltered voice of the customer. If you don’t have the data to impress decision-makers’ left brains with intricate multivariate regression analyses, awe their right brains with dramatic quotes and stories of major customer problems. All the numbers in the world aren’t as powerful as listening to a call center recording of a crying mother or reading an email from an irate retiree.
When it comes to engaging Chinese mobile consumers, top digital-native apps like WeChat attract more attention than brand-owned ones. Smart marketers are starting to borrow mobile moments rather than create their own. So how can you pursue a similar strategy? My most recent brief, The Power Of Borrowed Mobile Moments, provides marketers with the guidance needed to successfully borrow mobile moments.
Forrester defines a mobile moment as a point in time and space when someone pulls out a mobile device to get what they want in their immediate context. Mobile moments are the key to winning the mobile battle, as they create an opportunity to transform consumers’ perception of a brand. For B2C marketers in China, the opportunity is great — the country is the world's largest smartphone market — but so is the challenge: Chinese consumers have extremely high expectations when it comes to mobile services.
Our research indicates that, of the different types of mobile moments, borrowed moments are the most essential to winning over Chinese consumers. There are a few reasons for this:
WeChat and a few mega-apps dominate consumers’ mobile moments. Metro Chinese consumers already spend more than half of their mobile Internet time on WeChat. A few other popular apps, such as Didi Dache and MeituPic, have attracted hundreds of millions of users and enjoy high daily usage.
“Owned” mobile moments are less likely to work in China. The country’s relatively slow mobile Internet speeds have shaped consumers’ preference for data-light apps and resistance to downloading and using individual brand apps.
Here's a new exploit on Samsung Galaxy S4, S4 and S6 Swiftkey: remote code execution is possible which can lead to root access to the device, data loss, password sniffing and keylogging, Man-in-the-Middle attacks and compromised passwords. Another reason why we need to think about 'What's beyond passwords?'. We will shortly publish a report on this topic. Stay tuned.
It’s no great shocker that digital skills are in short supply.
In our annual organizational and staffing survey of eBusiness and channel strategy professionals, we found that while eBusiness budgets have grown by more than 10%, finding the skills and capabilities to execute on a digital strategy is becoming harder and harder.
Millennials: We can’t seem to get enough information about them. Recent reports that focus exclusively on how Millennials use new technologies have misled eBusiness execs into believing that they must focus primarily on Millennial dollars.[i] But as my colleague Sucharita Mulpuru discusses in her latest report, the kids are overrated.
History has shown us that technology innovation has an impact on all generations —even if adoption rates and motivations differ by age. We even see this trend when examining the role that mobile devices play in the consumer purchase journey today. For example, although 26- to 34-year-olds lead in tablet adoption, 35- to 44-year-olds show the highest levels of tablet use during the research process —more than a quarter of US online researchers within this age group use a tablet!
As Europeans become more familiar with mobile banking, they use it for a growing range of banking tasks such as money transfers and bill payments. Consumers’ behavior will continue to shift as mobile experiences with retailers, airlines, and the Airbnb’s and Uber’s of this world raise expectations about what mobile apps and sites can offer and how convenient they can be to use. Customers across Europe now want access to their accounts 24/7, the ability to perform a range of transactions with only a few clicks, and the possibility to manage their finances directly on their smartphones.
Yesterday we published our "2015 European Mobile Banking Functionality Benchmark" report, after evaluating the mobile banking services of thirteen leading European banks. Faced with a fast-moving competitive and technology environment, digital teams at European banks have striven to keep up with customers’ rising expectations. A cluster of banks in Spain, Poland, and Turkey – CaixaBank, Bank Zachodni WBK, mBank, Işbank, Akbank, and Garanti – now stand out as world-class, raising the bar to deliver great customer experiences, create new value, and engage customers in their mobile moments.
Here are some highlights from this research:
The European banks we reviewed offer extensive mobile transactional functionality. Turkish and Polish banks in particular make it easy for customers to pay a bill directly on mobile.
While kicking off a project last October, a client showed us slide after slide of reports, architectures, and data flows. Overwhelmed by information, the client looked at us and asked — what do I do with all this data? It's a plea for help I have heard on almost every engagement since. Due to this trend, I am starting a blog series answering the question from a multitude of perspectives. Each blog will dig deeper into a particular dimension including organizational communication, analytics processes, reliance on technology, and creation of actionable data dashboards.
Clients usually start conversations thinking they need to re-evaluate their technology in order to more efficiently automate their insights-to-action process. However, after digging under the surface, this is rarely the crux of the problem. Technology is usually just the easiest target. In addition, vendors usually overpromise on what they can deliver.
Due to the marketer’s pursuit of a magic bullet to automate data into insights and insights into action, leaders enter into contracts with solution providers boasting “omnichannel” capabilities that “connect data across channels to personalize communications.” Unfortunately, technology companies rarely focus on or understand the process and organizational changes that need to happen in order to successfully leverage these capabilities.
Big data and Hadoop (Yellow Elephants) are so synonymous that you can easily overlook the vast landscape of architecture that goes into delivering on big data value. Data scientists (Pink Unicorns) are also raised to god status as the only real role that can harness the power of big data -- making insights obtainable from big data as far away as a manned journey to Mars. However, this week, as I participated at the DGIQ conference in San Diego and colleagues and friends attended the Hadoop Summit in Belgium, it has become apparent that organizations are waking up to the fact that there is more to big data than a "cool" playground for the privileged few.
The perspective that the insight supply chain is the driver and catalyst of actions from big data is starting to take hold. Capital One, for example, illustrated that if insights from analytics and data from Hadoop were going to influence operational decisions and actions, you need the same degree of governance as you established in traditional systems. A conversation with Amit Satoor of SAP Global Marketing talked about a performance apparel company linking big data to operational and transactional systems at the edge of customer engagement and that it had to be easy for application developers to implement.
Hadoop distribution, NoSQL, and analytic vendors need to step up the value proposition to be more than where the data sits and how sophisticated you can get with the analytics. In the end, if you can't govern quality, security, and privacy for the scale of edge end user and customer engagement scenarios, those efforts to migrate data to Hadoop and the investment in analytic tools cost more than dollars; they cost you your business.