Forrester’s Digital Transformation Europe 2016 Forum in London starts today, and our first industry speaker will be Blake Cahill, Head of Digital, at Royal Philips. Over the past 20 years, Blake has led a series of marketing, creative, client management, product innovation, and thought leadership projects for both Fortune 500 organizations and digital start-ups. At Philips, Blake is helping to lead the Dutch company’s international rebranding and expansion into new technologies and markets. In his presentation, he will talk about the role of digital marketing in the transformation of Philips into a global digital business, and in entering the Chinese market, providing key best practices and lessons learnt.
As I prepared for my role as Forum co-chair, together with Benjamin Ensor, I spoke to Blake about his views on the age of the customer and the impact of digital on companies like Royal Philips. Here is what Blake shared with me, and I hope you will enjoy his answers as much as I did. If you would like to attend Blake's presentation in person, there is still time to register!
Q. How is digital transforming Philips' business and, as a digital marketer, how are you collaborating with and/or advising your peers in other parts of the business on the transformation?
This week, Forrester’s European Digital Transformation Europe Forum 2016 kicks off in London at the Lancaster on June 8-9. Myself and Forum co-host Benjamin Ensor are very excited about the program that we have been able to put together across the two days. Our list of industry speakers is impressive, and includes Blake Cahill, Global Head of Digital and Social Marketing, at Philips, Toby Wright, Chief Technology Officer, at Telegraph Media Group, Nina Jones, Global Owner Experience Director, at Jaguar Landrover, and Dr. Horst J. Kayser, Chief Strategy Officer, at Siemens AG.
On day one, we will also be hearing from Fergus Boyd, Vice President, Digital and IT at Yotel. Fergus is responsible for this start-up affordable luxury hotel brand’s digital strategy and services (web, mobile, social), IT innovation, and all back-end and guest-facing technology. He is a serial digital entrepreneur and technology transformation agent and led award-winning IT, eCommerce, and innovation initiatives at Virgin Atlantic and British Airways (BA).
In the run-up to the Forum, we asked Fergus to answer a number of questions on how Yotel uses digital to differentiate itself in the hospitality and accommodation market. His answers are a must-read for other tech management and digital business leaders facing similar challenges. I look forward to hearing Fergus’ presentation, “From Raw Fish To Moving Beds,” this Wednesday. Come and join us by registering today!
Q. How does Yotel use digital (web, mobile, social) to differentiate itself as a startup hotel brand?
In my earlier blog post, I talked about why you should attend this year's Digital Transformation Mumbai 2016 Forum. With the event just around the corner, I'm very much looking forward to the various sessions that we have in store that will help India's most senior business leaders understand Forrester's research on the customer-obsessed operating model, which will provide a blueprint for organizations on their digital transformation journey.
As I prepared for my role as Forum Chair, I spoke to Paul Cobban, Chief Operating Officer, Technology and Operations at DBS Bank, about his views on the need to be customer-obsessed and what DBS is doing to digitally transform themselves.
I hope to see you at the St Regis Mumbai in less than 2 weeks – register here! In the meantime, here's a sneak peek of what to expect from Paul's session at the Forum.
Q: How has the age of the customer impacted the financial services industry? How have you seen consumer needs evolve?
This year’s Microsoft Analyst Summit took place at the St. Regis hotel in Singapore, a prestigious place that hosted more than 90 analysts from the entire region. The Forrester team was impressed by Microsoft’s strategies in cloud, digital transformation and partnerships, and in particular, the main takeaway for us throughout the 2-day event was Microsoft’s innovation capabilities and ambition, especially in the APAC region.
HoloLens puts the spotlight on Mixed Reality. Unlike Augmented Reality, which is lightweight but has limited views and functionality, or Virtual Reality, which is very powerful but comes with bulkiness and dependence on a PC, Mixed Reality blends holograms with the real world to marry agility and powerfulness. HoloLens brings this concept to life, it is light enough for users to move around safely, and it is very powerful because it is a self-contained computer that doesn’t require tethering to another PC. There is even an emulator that allows developers to develop holographic apps for HoleLens without a device. HoloLens could drastically change the way people work, live or even think, we are all very eager to see if the first wave of HoleLens products will successfully establish an ecosystem that can sustain mass market deployments and future growth.
It’s that time of the year again. As we approach the month of June, Forrester brings its annual flagship India event Digital Transformation Mumbai 2016 to the country’s most senior business leaders.
As Indian businesses become increasingly familiar with the importance of digital to their success, they often ask “Where do we start, and how can we navigate the choppy waters of transformation?” We are now in the age of the customer, and its singular focus on customers is what will make or break any digital transformation. Our seminal research on digital maturity, customer experience, and business technology has helped our customers across the globe become successful in their digital initiatives. This event is about providing you a first-hand glimpse of our latest research.
Our main goal for this event is to help you understand where to start on your digital transformation journey. We will bring to you the theme of the customer-obsessed operating model, which provides a blueprint for your digital transformation. We have carefully curated a team of Forrester and industry experts to talk about how the four dimensions of this operating model help organizations in their digital transformation.
We will highlight the imperative for organizations to:
Become customer-led than simply being aware of customer needs.
Be able to drive actions from insights than simply being data-rich.
Be fast — because being perfect but slow doesn’t cut it anymore.
Get rid of internal siloes and derive power from being connected.
The pace of business – heck, the pace of life, gets faster and faster. Faster processing, faster delivery, faster innovation – and faster adoption and abandonment of that innovation -- is the reality we all live in today.
Leaders run fast businesses to win and to stay apace or in front of dynamic customers and disruptive competitive forces. They can’t out-slow the competition. Speed is the only option.
I had the pleasure of participating in a webinar panel to discuss what it means to work at one speed (fast) versus at two speeds as bimodal IT advocates. We discussed why businesses are forced to go fast, the reality and downside of a bimodal IT strategy, and the strategies and approaches to winning based on speed. Here is a quick view of the ground we covered.
The first part of our discussion focused on the factors that are making companies operate at fast speeds. Broadly, it comes down to three factors:
Hyper-adoption and hyper-abandonment: Customers are willing to rapidly try, use, and then possibly discard content, apps, and services in a world of seemingly infinite choices and extremely low cost to entry and exit. This dynamic fundamentally changes – speeds up – what it means to “have” a customer.
Faced with increasingly empowered customers, together with mounting pressure from existing and potential digital disruptors in the financial services sector (such as Alipay in China and Codapay in Southeast Asia), many banks across Asia Pacific have launched mobile banking apps to enable customers to make mobile transactions. Initally, these mobile banking apps suffered from abysmally low customer adoption and delivered poor customer experience. However, mobile banking apps have come a long way over the past five years, going from little more than an extension of online banking to what one digital banking executive calls “the most important part of my job.”
Through conversations with our FSI clients, we have observed a positive transformation in how eBusiness executives think about and execute on their mobile strategy, which contributed to rising adoption levels and better customer experience. The most notable shift that eBusiness executives have made is to perceive mobile as a crucial part of their organization’s broader business transformation imperative linked to specific business objectives and outcomes — this is fundamentally different from the early days when some eBusiness executives equated a mobile app to a mobile strategy.
Our exclusive FSI summit in Singapore on Friday, April 15 will bring together an intimate group of senior executives from banks, insurance companies, and selected fintech firms. At the event, my colleagues and I will share Forrester’s FSI digital business research, and facilitate discussions with industry leaders.
My presentation, “Who Does Mobile Banking Well In Asia Pacific?”, will explore:
Businesses must focus on those activities that they can transform into digital business models. Not every industrial activity can become a digital business, but it will be impossible to succeed in digital transformation by developing a digital business and an industrial business and then operating them side by side indefinitely. GE sold 40% of its business activities because it felt that it could not transform them into digital businesses. For those industrial activities that can become digital businesses, executives need to be aware that:
Every industrial worker has to develop digital DNA. Industrial workers and mechanical engineers have to be comfortable interacting with digital systems. At GE, mechanical engineers have to design a locomotive in such a way that they can place a local data center inside it. Every industrial worker will have to have analytics skills, whether that’s the ability to create sensible and reliable data sets or to analyze and interpret these data sets.
From discussions with our clients in the financial services industry (FSI) in Asia Pacific, we’ve noticed that their digital agenda has changed dramatically over the past 18 months, shifting from a consideration of acquisitions and distribution channels to a broader business transformation imperative.
In fact, leaders at banks and insurance firms are increasingly realizing that:
Customer experience is fast becoming the only competitive differentiator.
Banks and insurance have to accelerate their ability to innovate and deliver new sources of value to customers faster.
CEOs and their leadership teams are at a crossroads as technology underpins virtually all customers' expectations and unlocks new sources of customer value. The choice is rather straightforward: invest heavily in business technology (BT) to win, serve, and retain customers, or flounder under the weight of legacy IT.
This is no time to hedge. Strategies like bimodal IT that advocate for silos and two operating speeds may appeal to risk-averse leaders, but bimodal won't get the job done. In fact, it works directly against the key operating principles of customer-obsessed firms in B2B and B2C industries like General Electric, Netflix, and USAA. These firms and other leaders use the customer as the central design point for their business technology strategy and strive to be: