Practical strategies for the role of digital in your business
Digital Strategy; focus on what will bring success
Digital has a role to play in many areas of your business. But have you chosen the r.i.g.h.t activities?. For you business? Let us facilitate your thinking through workshops, stop wasting money on the wrong tactics and take decisive action.
Are you throwing good money after bad, from one tactical choice to the next? You need focus to take controlled action. In a series of collaborative & strategic workshops we will assist you to develop a roadmap (digital strategy) for the role of digital in your business. Tell me more about digital strategy
Digital Account Management
Correct execution of your digital strategy determines if you will achieve your bigger business objectives. Leave the management up to us. With our trusted suppliers (or working with yours), we can manage all or some of your strategy implementation and day-to-day digital functions and focus on achieving a rapid return on investment. Tell me more about digital account management
Digital transformation is the realignment of, or new investment in, technology, business models, and processes to drive new value for customers and employees and more effectively compete in an ever-changing digital economy. Transformation means you build your business around technology and around customer behaviours. Tell me more about digital transformation
The science around building products and services that really connect is available.
We often get asked; “how do we become a more data-driven company”?. No doubt you’ve heard people saying; ‘data is the new oil.’ What they mean by that is that your business has the ability to set their strategy and to take action, based on real-time facts served as data via the systems you use. No more guesswork – real data about your products, your partners, your customers on an ongoing basis. That’s the lubricant that is new oil that powers a company’s engine.
But data means process and science. This often means a fundamental change in how your company works. You presumably weren’t very scientific up until now?
Of course, most companies are too busy running their business to spend time learning about data, so if you’re just starting out, then it may be worth talking to an expert who can help you.
Thanks to the convergence of the cloud, big data, social media, and mobile devices, even SME companies that understand their technology and client base can compete with multinationals with massive budgets. But collecting the data won’t make you a data-driven company.
Data touches multiple departments. Every process, every individual task, every workflow has to be challenged if you are going to become more scientific; and silos will have to disappear. Different departments and their systems will have to start talking to each other. Only then you will start to deliver new value to your customers.
Data – Quickwins;
Some common and very simple things could be solved with data;
Try to structure your business in such a way that the data coming in is actionable; you can respond to what it’s telling you and measure the results. Collect and store data so that it is secure yet still accessible to the people who need it when they need it.
Make sure that the analysis which flows out of your data is not just sitting on a database somewhere, inaccessible to the people who could use it to make informed choices about how to improve the customer experience, or the product.
Buying a product from Bras N things recently saw me receiving a feedback email from the company despite the fact my product had not yet even arrived. So the marketing email got triggered without cross checking with the shipping department? The data is clearly not integrated or shared?. #quickwins
TicketMaster send me countless reminders to get tickets to Charlie and the Chocolate Factory. (I bought my tickets nearly 6 months ago) the purchasing of the tickets appears not to have taken me of the prospect list. #quickwins
Data-driven examples; Here are three ways to think about how you should use your data:
Data-driven product development
Product managers can utilise data to solve everyday problems and improve efficiency. They can use analytics to determine whether a particular launch of a product or service you offer is achieving the expected outcomes. Next, they can adjust the work or the product and then, once again, measure the results from the beginning of the next phase.
Data to improve team performance
Your journey into becoming a data-driven organisation will have a great impact on your employees. They may even feel nervous and fear getting “replaced”. But by improving internal process and automating functions with the help of data, your team can be freed-up to focus on other areas, e.g.improving customer service, or operational efficiencies.
Data to get to better serve your your customer
As we wrote in an earlier blog post entitled Digital Transformation – An outside in process, ‘any experience with a company that is not hyper-personal, relevant and tailored to our situation is a “mhew” experience. Customers know you collect data, so use it so that they benefit from that.’
Shape your marketing strategy with the help of the data you collect. The use of marketing automation tools is only as good as the data that is collected and used. And if you are a forward thinking company, and when you have data, you can train an AI system too to start adding value to your customers. (read our earlier blog entitled Adapting Your Business Priorities in the Face of Advancements in AI) Being a data-driven company is as much about the tools and systems that you need to have in place as it is about how you use that data to personalise marketing messages.
In many ways, this data-driven landscape is really a new, more effective approach to answering an age-old question: ‘How can I add value for my consumer?’ The ways that you use data to answer that question could be the success or failure of your endeavours.
Traffic Act helps its customers define what the role of digital is in the business and develops a roadmap with you of how digital will help you achieve your goals. Get in touch with if you want to extend the conversation about what your data can do.
Challenges of managing membership-based organisations
Achieving these goals and objectives is a challenging task. You are constantly faced with budget constraints, changes in the requirements and expectations of your members, internal resistance to change and many other factors that make the burden of leadership much heavier.
You also run the regular risk of members leaving if they feel that they are not getting good returns on their membership package.
To deliver genuine benefits to your members, increase your membership levels, and take your organisation to the next level, you must look for an effective means of surmounting these challenges.
Using digital technology to increase engagement
The good news is that you can leverage digital technology to do all this and so much more.
Engagement is vital since it correlates directly to relevance — which means that the more your members are engaged, the more they view your organisation as relevant to them. When this happens, they are far less likely to leave and may even begin inviting neighbours, friends, family, colleagues, and others with similar interests to join your organisation.
By the same token, unengaged or poorly engaged members are much more likely to cancel their membership because they feel no connection with your organisation.
Relevance also should be considered in the way you offer some of your services. Is the way they can join our organisation as easy and smooth as setting up an Uber account or do they need to hand over their first-born? Is the value they receive relevant to their lives or to yours?
All this means that you need to “up” your members’ engagement levels, as well as up the game in how you stay relevant, in order to increase your membership levels and retention rates.
The best way to do this is by digitally transforming your organisation and remodelling it into a data-driven one. You should also leverage relevant digital solutions and technologies to provide more engagement for your members.
You can start off with a CRM solution or membership management software, and integrate this with your CMS. Integrating these technologies helps you to deliver a bespoke user experience and more personalised content recommendations.
Implementing a CRM solution is a big task, and often the first piece of technology that gets reviewed in the quest to become more data-driven. Modern & global CRM solutions have a lot of Business Intelligence built in, but are not always natively built for membership based organisations. Those CRMs that specialise in memberships may lack the intuitiveness and UX to meet today’s expectations, and a well defined pitch process could help separating the wheat from the chaff.
The next piece of technology often considered in this quest is a marketing automation tool, where leveraging the data; tailored, personalised and relevant campaigns can be created fast. Social media channels can be integrated so that it becomes easy to create a holistic member journey regardless of the channel they are on.
Ideally, by linking it to a website CMS, each member will be served the content that is only relevant to them which in turn will increase our holy grail of engagement.
Adopting a ‘Member First’ approach
Now more than ever is the time for your organisation to adopt a ‘Member First’ approach. Focus on increasing engagement levels and meeting both current and future requirements/expectations of your members, which are set other companies and other experiences outside of your category.
This will create a more trusting relationship between you and your members, leading to increased retention rates and higher revenue levels.
Creating clarity, focus and clear action for your business
Before I started for myself in 2009, I spent plenty of time on your side of the desk and I know the pressures you are under, and the budgets you have to manage.
Since that time I have also set up two other businesses and I understand the challenges and requirements of running a business. It’s so v.e.r.y important to be focussed on your purpose, keep the customer at the heart of your decisions, and to have a clear strategy which helps when choosing what activities to spend your money on. I get it.
Your money needs to show a clear return on investment. I am metric driven and results focussed and help you identify the milestones on your way to success.
In the last 15 years, I have worked both in consumer driven and B2B environments, and a wide variety of industries, both in Australia and overseas.