Marketers are on a – Digital Beach Head

 

The Beach Head

Traditionally Marketers formulating Enterprise Marketing Strategy used to be based on Growth Market Identification, Market Positioning & Gaining Market Share – Customers were traditionally identified by; Type, Segment and Clusters, Transactions & Buying behaviour via Channel – share of voice and sentiment analysis and empathy mapping came later.

The Market Tactics deployed were based on the the ability to successfully traverse The Chasm to the Main Street. Where the ‘choice pickings’ were perceived to be.

Whilst still a valid approach today for most Organisations and Enterprises today and a valid strategy to gain Market Entry & Share. Things have changed. There is a new challenger in The Main Street.

tornado-bowling

Inside the Tornado

 

Digital Disruption & Digital Re-Invention.

Inside the Tornado

New Digital Disruptive companies are breaking all the business rules and models within the Tornado.

Companies such as Uber ( who doesn’t own a Taxi), Airbnb (doesn’t own any hotel real estate) and Amazon (doesn’t even own any inventory). Are changing the way consumers think and react and interface with brands, products and services.

Digital Disruption is changing the purchase propensity models daily, creating a unique relationship with the brand and the Enterprise – the business model is changing and is closely coupled with collaborative Cognitive Technology to devise Digital Strategies that work.

Main Street

Digital Transformation and Digital Re-Invention coupled with a collaborative Ecosystem is the new DNA that Enterprises are seeking to embrace.

As far as the economics go – in a recent study with a High Street Retail Bank it was reported on average that for every $1 spent on Digital initiatives the bank returned a $10 ROI – far more rewarding than traditional bank marketing methods initiatives.

It is understandable with this kind of ROI and the need to differentiate the consumer proposition Enterprises are prepared to be Disruptive and embrace Digital Strategies and Transformation to change the business – to achieve commercial success.

We will see more Disruption in the future I am sure……

 

Credits to: Geoffrey Moore Inside the Tornado

 

 

70% of businesses in Europe have failed to meet their CRM objectives. http://wp.me/p3aCAV-4K

70% of businesses have failed in Europe to meet their CRMs objectives according to D&B research.

Some of the key factors are;

  • Failure to plan for change -transformational barriers and issues
  • No clear defined objectives – not underpinned with rigour or metrics
  • Failure to align with the business – lack of user buy in
  • Poor Data and Information – lack of accurate, current  data
  • Over customisation – need for simplification of message and program structure

Take a look at some of the key factors behind the failings and the pointers to avoid being part of this statistic.

Comments welcome as usual please.

Customer Lifetime Value is still a valuable metric (LTV)

How To calculate Lifetime Value (LTV) – Interesting example Starbucks Infographic

Net Promoter Score or traditional LTV model  or predictive analysis. Many ways to look at LTV myself I still prefer the traditional LTV model for customer acquisition to estimate retention (“LTV”) of a customer. Roughly defined, LTV is the projected revenue that a customer will generate during their lifetime. What are your views welcome as always.

Interesting Infographic on the model.

How To Calculate Customer Lifetime Value

Airline Fees – Blessing or Burden? http://wp.me/p3aCAV-58

Airlines have been adding so many extra  passenger fees lately

Due to the increased costs imposed on Airlines by Airport charges and increased fuel costs, Airlines have had to pass on the additional costs by way of ancillary fees. These fees range from carry-on luggage to in-flight drinks, pillows and food. As a result of that what you see  on your ticket is not the true cost of flying. From overweight bags to flight changes and pets to unaccompanied minors, there is no shortage of fees that airlines will have to pass the additional charge to you as a customer.

Is the passing on of ancillary fees and charges to the passenger justified or is it just another way of making money?

Is there a need for a better  understanding of all of the true operational airline costs- in other words a more joined up holistic view? Or an increased need for the community to collaborate and lobby against Government regulations imposed on the Airline community to avoid passing on the costs to the customer.

In the final analysis I believe everybody in the industry has an agenda to improve the customer experience of travel not negate it – I am sure the Airline industry is doing everything it can not to pass on additional charges to the customer.

Your views welcome as always.

Here is an in-depth look at the complex world of airline fees. See the different add-on fees of 10 major domestic  airlines here.

A Guide to the Complex World of Airline Fees

Boss or Leader- what style of Management do you have? http://wp.me/p3aCAV-4s

Leadership today is in short supply

The difference between a Boss and a Leader is collaboration and team understanding . Good leaders can make a management team aspire to greater heights and increase employee motivation.

Bad bosses can instantly break it!

What is your Management style?

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Urban Cloud & Social Media- is it flawed! http://wp.me/p3aCAV-4B

LinkedIn and Facebook high use channels.

This infographic shows the rise of the ‘Urban Cloud’ and the do’s & dont’s in respect of platforms and solutions. Interestingly LinkedIn seems highly used both privately & professionally followed by Facebook but there are notable exceptions.

What are your views

Airports – who’s on time and who’s not, Airport /flight performance http://wp.me/p3aCAV-4d

Airport punctuality and on time performance
The UK has a number of small and large airports serving the Airline Community,  delays in flight arrivals & departures impact punctuality and on time performance as the  number of flights are increased.
Which of the UK Airports contribute most to on time performance and has the best punctuality record from year to year.

Find out below

Skill Gap affects the Global Economy http://wp.me/p3aCAV-43

Employers in the world’s 10 largest economies are all struggling with the same task: finding skilled workers to fill open positions.

When businesses lack the necessary skilled workers, they suffer from less effective business performance, lower quality work, lower morale and higher employee turnover and inhibit’s company performance.

What are companies doing to address this gap that is crucial to the Global success of business?

Marketing Cars- through Social Media

Mobility as a Marketing Tactic – car sales
With the advent of the Social Media channels available today – the Automotive Industry have taken the advantage to utilise these channels to their best advantage ; below are examples of the kinds of success they have realised.

‘ The Sphere of Influence’ – what really impacts our daily lives? http://wp.me/p3aCAV-3n

What influences and impacts our daily lives, Friends, Business Co workers, Loved ones, the Media?

It would appear it is all of these;

Commonly referred to as ‘ The Sphere of Influence’ diagrammatically illustrates this point.

Between friends, family, and an ever-increasing influx of media the influences on us are harder and harder to quantify.  This simple infographic breaks it all down.

Sphere of Influence

Your comments are welcome as always.

Customer Retention – poor relation to customer aquisition who really cares? http://wp.me/p3aCAV-2S

As Marketers – we should care!

As we know disgruntled customers will be the worst advocate for your Company or Service. Ultimately the cost to service will be higher than satisfied customers.

5 Reasons why Customers Leave A Company:

1. They receive bad treatment.

2. They are dissatisfied with the products and service offered.

3. They have chosen to go to the competition.

4. They have sought an alternative product or service.

5. They have moved away and nobody has thought to track them or contact them.

Interesting infographic below;

Logistics – ‘Transit Triggers’- Improve the Customer Experience. http://wp.me/p3aCAV-2A

e-tailers  in the Logistics industry have taken to more frequent communications with customers at pre- defined ‘Transit Triggers’ in the distribution life cycle.

They deploy a tailored communications plan that they buy as a managed service and couple the communications plan with their distribution plan to identify the trigger points when customers are more sensitive to communication.

The use of ‘Transit Triggers’ defines the communication type and message and enables e-tailers to generate incremental revenues by reorders.

The benefits in my view are obvious; improved and more efficient cycle of goods from delivery & returns, incremental revenue opportunities and improved customer engagement & experience.

In my view it could be enhanced further as a service to cross sell and upsell, thereby improving the levels of customer satisfaction through a more positive customer experience.

See the Infographic below;

Retail purchases via mobile phones will increase to $689Billion by 2016. http://wp.me/p3aCAV-2o

Mobile is a great influencing factor in retailing trends and a key preference for consumers.
Mobile helps provide real data targeting opportunities- 33% of smartphone owners have shared their location details with favoured Retailers to make themselves available to promotional messages and personalised communications.
Loyalty coupons are in growth mode with 18% of consumers having redeemed a mobile coupon within their chosen Retail outlet.

Watch this space.

Your comments welcome as always.

Average of £73 per minute in UK Rail passenger delays caused by incidents – http://wp.me/p3aCAV-27

On average their are in excess of .8million incidents per annum leading to 14million minutes of delay to franchised passenger Rail services in the UK.

Infrastructure faults come high on the list but equally so do Weather and Signalling- Communication to Passengers of incidents is highlighted as a key concern. Planning and re-plan is crucial to ensure minimal risk and delay.

A formidable challenge that can impact the Rail Franchise Operators profit at every point of the Journey. Rail operational factors are not always attributable or within the Rail Franchise Operator’s control.
Factors that cause major disruption and impact both from a customer experience perspective and a financial perspective are;

Weather Impact of Rail delays due to unavoidable weather changes
Mechanical issues Aging rolling stock lead to increased mechanical issues
Train Utilisation Operational delays can impact network utilisation
Station/network Congestion Re routing of trains, station delays impact efficiency
Union obligations Staffing overun on crew hours, compensation payments affect operational productivity and efficiency
Rail regulations Increased penalties and impositions on Rail operational delays

All of these factors can and do impact and disrupt operational core functions such as, Finance & Revenue Management, Call Centers, Freight Operations, In- train catering & cleaning services, Ground Ops, Engineering, Crew Planning & Scheduling, Network Planning, Customer Service.

The compounded effect of this is a direct impact both in terms of the customer experience and operational efficiency & financial/risk imposed on the Rail Operator.

I believe there is a need for a single INCIDENT MANAGEMENT SYSTEM in ‘real time’ based on a common integrated IT platform.

If we take a different view of individual business impacts and classify them as ‘events’ that can and do re occur over a timeline we can take a very different perspective on the risk and financial impact to the Rail Operator.

The reclassification or construct of business impacts as EVENTS would enable by use of an event processing engine to group and categorise the core events by severity of impact and construct a model dynamically that turns data into information and presents this via a ‘holistic real time view’.

This information would the be presented via a series of dashboards back to the Rail Management/operators in real time for action.

In addition if we couple the ability to ‘analyse’ the customer experience and financial impact of these events, we could pre rank and scenario re plan alternative business solutions to ‘minimise future disruption, ring fence operational costs,  and improve the customer service proposition – this must in my opinion be a major benefit to any Rail Franchise Operator.

(Source: National Audit Office)

Inside the ‘Big Data’ Tornado – The Holy Grail. http://wp.me/p3aCAV-1p

Big Data and Digital revival in search of (The Holy Grail)

As we are all aware Airlines, Hotels, Financial Services organisations and Retail businesses today are undergoing a Big Data revival and Digital revolution – It is in the pursuit of the ultimate Customer Experience and the potential incremental profits that spur on the enterprise –  The speed and pace of progess is alarming and somewhat likened or akin to rushing head on in over a chasm!

The anology of a Chasm brings me to a book I read many years ago on the growth and development of organisations within the Hi Tech Industries authored by Geoffrey Moore. The book was titled ‘Crossing the Chasm’ and the anology and principles it is grounded on still hold true today, this was followed by another book called ‘Inside the Tornado’ which builds on the former book.  Both books a recommended read.

Below is a recent quote from the Author Geoffrey Moore in respect of Big Data and The Digital experience;

Geoffrey states;

We are putting the entire world on the Web and have digitized the consumer experience,” Moore said. “We are now digitizing the business experience including government and healthcare. The tool set you need to digitize requires Big Data because it’s not just about handling data before and after, it’s about handling data during transactions. Without Big Data, you are blind and deaf and in the middle of a freeway.”

Crossing the Chasm

In Mr Moore’s analogy organisations go through phases of maturity and evolve. It would be true to say they re -invent themselves and develop strategies and tactics to succeed and ‘Cross the Chasm’ or they fall off into the precipice to be forgotten.

Once on the other side they position their Brand, Products & Services to meet the needs of the customer and enter ‘The Tornado’ the place to be – where it is all happening, eventually emerging as a successful organisation into Main Street.

Inside the Tornado

Inside the Tornado

However I have an issue – My Issue with Big Data and playing inside a Tornado!

My issue is…

Most organisations have been advised, understood and embraced the idea of Big Data and indeed spent many $M in the process. They are now in a rush wholeheartedly towards the chasm to get inside the Tornado without fully understanding what is inside or what is required to gain entry!

Now in anticipation at the precipice they stand and reflect – they are indeed wondering what to do with all this data they have amassed and how they can use it to get them across the Chasm to ‘Inside the Tornado’ and the Holy Grail!   

What is needed now- Customer Insight, Segmentation and understanding of Customer Value -Perhaps?

More will follow on this topic – your views please welcome as always?

Mobile Strategy- what Mobile Strategy?

In a recent study published CIO’s have ranked Mobility as a priority No 2 in 2016. I find it slightly disturbing only 54% of companies have a mobile strategy in place yet only 34 % have any in-house mobile development skills. in a connected world I would have expected the figures to be higher and of more importance to organisations today. Especially as the consumer usage is on the up see below;

Design Thinking – is it just another Consultant Workshop?

Not Really – Today’s Enterprises are seeking a more holistic view of there Customers and their individual and personal experience with the brand – in addition the impact the brand has in a social, environmental and global arena.

Design Thinking Methodology

Design Thinking when applied with a proven Design Thinking Methodology enables the enterprise to understand the key brand attributes and differentiate your brand or service in the marketplace.

Slide1

Understand

Discover & Understand the Hills and Blocking issues that are preventing you from moving forward Emphasise and understand the Social, Political and Economic barriers to entry. Component Business Modelling and ‘Heat Maps’ are a useful starter for the teams to level the playing field.

Explore

Explore every channel, idea or opportunity and Journey map or Touch map the process.  Examine the customer journey ‘trigger points’ in detail and understand the technology required as the enabler to fast track the idea’s.

Ideate and Innovate

Create no holds barred ideation sessions ‘think out of the box’  develop solutions that define and bring out the true essence of the Brand. Prototype and prototype the solutions endlessly and rigourously. Playback initiatives to the teams.

Evaluate the output

Apply metrics and rigour measure to analyse the results, align the commercial results against the defined Business Model and Brand Objectives. Decide on stop,start or go implementation strategy.

 

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Mobile Strategy- what Mobile Strategy?

In a recent study published CIO’s have ranked Mobility as a priority No 2 in 2017. I find it slightly disturbing only 54% of companies have a mobile strategy in place yet only 34 % have any in-house mobile development skills. in a connected world I would have expected the figures to be higher and of more importance to organisations today. Especially as the consumer usage is on the up see below;

‘ The Sphere of Influence’ – what really impacts our daily lives? http://wp.me/p3aCAV-3n

What influences and impacts our daily lives, Friends, Business Co workers, Loved ones, the Media?

It would appear it is all of these;

Commonly referred to as ‘ The Sphere of Influence’ diagrammatically illustrates this point.

Between friends, family, and an ever-increasing influx of media the influences on us are harder and harder to quantify.  This simple infographic breaks it all down.

Sphere of Influence

Your comments are welcome as always.

To be competitive today – Employees need strong communication skills

The workplace is rapidly changing. Managing talent is essential to keep pace with the demands of a changing work landscape

In a research study we recently conducted we set out to understand;

  • Which skills employees must have to be competitive today
  • What are the most significant people challenges currently facing organizations
  • Identify the most effective ways to develop talent now

More than half of the 506 survey respondents agree that communication followed by leadership agility are the most valued skills in 2017.

To be competitive today –  Strong communication skills – top the list of characteristics employees must.

In addition, these skills include writing, listening, speaking and presenting,

Respondents from the survey identified 3 key skills;

Communication | Leadership | Eagerness to learn |

Close behind is eagerness to learn [being open to learning, with solid reading, listening and thinking ability].

Emotional intelligence [recognizing, understanding, and managing your own and others’ emotions] and understanding analytics [reading and understanding data, projections, demographics] round out the top five most valued skills.

Managing change was also most frequently mentioned.

Picture1

Respondents were asked “Which 3 skills are most valued in your firm right now?”

What is your view – what do you think?

Interested: Read the full report at http://www.hda.co.uk