#ForrForum Day 2 – Embracing Digital Change

#ForrForum

#ForrForum

Day 2 of Forrester’s eBusiness and Strategy Conference continued to focus on the impact of Digital.

Bill Doyle opened the day by providing prospective.

We Are In The Age of the Customer

1900 – Age of Manufacturing
1960 – Age of Distribution
1990 – Age of Information
2010 – Age of the Customer

Differentiate on how you treat the customer – be Customer Obsessed

Martin Gill Provided IT Advice

  • Nearly 25% of adults are online with 3 or more devices
  • 2.6 – avg # of operating systems developers deploy to
  • 4.1 – avg # of form factors developers support
  • 4.6 – avg # of browsers web developers test

What’s keeping IT from morning faster? Cost center, SLAs, Compliance, Consistency, Standards, Fear of failure, governance, waterfall processes

Optaros Provided Advice on Digital Strategy Development

Creating relevant digital commerce capabilities

  1. Strategy – Do you understand the priorities that will drive business success throughout this revolution?
  2. Customer Experience – How can you understand the new rules of engagement from the consumer’s point of view?
  3. Technology – Growing choice and complexity in technology creates huge opportunity – but is technology enough?
  4. Partners – Do your partners understand what it takes you help YOU win?

Impact of Digital on Business

Digital Commerce has profound business impact and the C-Suite has noticed
The 10 : 50 : 100 rule – Kantar Group
10% of retail is online today
50% of all retail is influenced by digital
100% of all retail is impacted by digital

Disruption: Customers have taken control

  • Erosion in Trust & Loyalty – more trust in what others are saying about the brand
  • Social Influence
  • Transparency – be prepared to react to the fact that everything is done publicly
  • Ubiquitous Access
  • Increasing Speed
  • Relevant & Consistent
  • New Basis of Competition – for example, how to compete with Amazon

Leading Digital Change – What you should be thinking about?

  • Organizational “Revolution”  align your corporate and digital strategies
  • Know your customers and what motivates them
  • Understand all your competitors
  • Think beyond .com and the single URL
  • Plan for the unexpected – be agile
  • Focus on both revenue generation and cost control
  • Priorities beyond the next budget cycle

By 2017, CMOs will spend more on IT than CIOs & CTOs – McKinsey

How Mobile Can Transform Your Customer Experience

Forrester Ron Rogowski provided great info on mobile

Why haven’t firms made the mobile shift?

  • Don’t understand how their customers operate
  • Focused on legacy interaction models
  • Lack skills to design and develop breakthrough mobile experiences
  • More devices = greater overall activity (it’s net new activity)

Mobile shifts all three core attributes of a customer experience

  • Enjoyable – how enjoyable are you to do business with?
  • Easy – how easy are you to do business with?
  • Meet needs – how effective are you at meeting your customers needs?

[important]Mobile Journey: Repair —> Elevate —> Optimize —> Differentiate[/important]

Repair

  1. Inventory your mobile presence
  2. Assess value from your customers’ POV
  3. Keep, throw out or fix

Elevate

Incorporate mobile expertise into your existing CX design processes

Optimize

  1. Get active and proactive about context to build enjoyable experiences
  2. Design experiences for those moments
  3. Determine the context around those moments… and use analytics to anticipate needs

Differentiate

  1. Innovate to differentiate: CX improvements & CX innovation
  2. Reframe the opportunity
  3. Rely on systematic and innovative tactics
  4. Build systems of engagement

Final thoughts

  1. Use customer experience — not mobile — KPIs to measure success
  2. Beg, borrow, steal, and buy native mobile talent
  3. Adopt and use analytical tools