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
Bitcoin gets all the attention, but the underlying blockchain is the real hero.
Cloud computing became a buzzword just before blockchain technology did, and believe it or not, these two concepts are linked.
Entering 2018, over 57 percent of organizations use cloud computing. Storing data and running applications remotely can be a right pain. Imagine a cyclone hits your town, and you have to shut down your business for several weeks. This could mean the end of your business. But with cloud computing, it’s easy to replicate the office in another location in emergency situations.
Fiber broadband Internet speeds (not using the N(BN)-word) and multicore computers spurred a digital transformation from local storage to streaming across the board. Think about it – was the last song or movie you enjoyed stored locally on your hard drive?
It’s more likely you used a streaming service like Spotify for music, and Netflix or Stan for video.
The downside of cloud storage is security, which is a problem blockchain technology resolves. Let me explain; Blockchains enable applications to be created on a decentralised ledger. This is just a fancy word for having multiple storage locations instead of one storage location, and every transaction or exchange is irreversibly written into the transaction history. It cannot be tampered with. . This creates an offsite data backup that’s even safer than traditional cloud computing. And unstable servers will no longer be a problem, because our data is stored in multiple locations.
Here is the thing that will change our everyday lives…The distributed ledger uses smart contracts to store and enable trusted transactions, even between anonymous parties. Fancy that!. Smart contracts make transactions both transparent and traceable, which reduces the possibility of fraud.
Blockchain is the digital innovation that brings cloud computing to the next level, and it’s the two technologies combined that are causing today’s digital transformation. It’s poised to disrupt every aspect of our lives.
The Blockchain Beyond Bitcoin
Bitcoin is the media darling cryptocurrency, but it’s not the reason blockchain technology is so awesome. . Blockchain will be part of our future digital transformation, and a company culture that fosters it now will pay off when it goes mainstream.
Blockchain technology is typically associated with Bitcoin and other cryptocurrencies, but this is a fallacy. Bitcoin was certainly the first blockchain release, but it’s far from the only one. Blockchain technology represents a digital transformation to a new way of using the Internet and cloud technologies.
Beyond Bitcoin, blockchain technology is disrupting every industry, from healthcare and government to logistics, distribution, law, transportation, and more. Distributed ledgers are the way of the future, and major companies like Alibaba, Amazon, IBM, and more are on the bandwagon.
Alibaba, for example, is using the blockchain to create what it calls the Food Trust Framework. This blockchain, currently being piloted in Auckland, is designed to bring transparency to the global supply chain, starting with the food industry, where $10-15 billion a year is lost to food fraud. With food fraud, everything from honey to milk to mince is supplemented with cheaper (sometimes dangerous) ingredients that aren’t on the label. Fixing this issue is a major help to both the food industry and the public.
Dismissing blockchain technology is like dismissing the Internet, or even computers. Each technology represents a major shift in how organisations run, and ignoring this digital innovation could be hazardous to your company’s health.
Understanding Blockchains in other parts of our lives
There’s not just one blockchain that will inevitably hold all of the world’s data. Instead, unique blockchains like these are being created for every purpose in every industry to make data storage and tracking easier. This digital innovation is simply a better way to do what we’ve been doing anyway – storing data in the cloud.
It’s changing how every industry works.
In healthcare, for example, the blockchain can support the entire lifecycle of a patient’s electronic medical records, making it much easier to switch healthcare providers. Australia is miles behind on the ability to share medical data across providers safely. . It can also bring transparency to clinical trial results, reduce pharmaceutical tampering, and support IoT medical devices.
In government, the blockchain can bring accountability by allowing anyone to verify how both citizens and their representatives vote. We’d lose the ability to claim “it’s rigged” It also streamlines processes like analysing contractor proposals, budgeting, and record keeping.
Even streaming services mentioned above like Spotify and Netflix are facing competition from blockchain-based competitors. The POP Network, for example, uses the blockchain to help content creators track views of their work while giving viewers more content options.
The blockchain is revolutionising every industry at the foundation, just like the Internet did before it. Getting on board now can resolve a lot of headaches in the future. If you’re not already using the blockchain, you can bet a competitor is. You can’t afford to lose out.
No matter what business we are in, we must own the customer experience.
We live in a world now where our expectations, as customers or consumers has changed dramatically from those we had 20 years ago. The digital economy has contributed to this and largely facilitated it.
New technology facilitates all this change. Artificial intelligence, machine learning, and mobile are a few dominant forces that essentially reshape our expectations as consumers; everything is hyper personal now.
(As a note to the strategists and marketers – this means traditional segmentation is getting stale. Hyper personalisation is possible and already expected by your customers).
Resorting to simply activating more & more channels is not showing your customers that you understand them and that you can deliver them a message that is the right time, place and mindset, or the on device of their choice.
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.
This forces us to reimagine the companies we run. We must be in the business of creating solutions to human problems.
We are all customers and consumers alike and we are all expecting more now from our interactions with companies. But when we walk into our offices we often revert to business-as-usual. According to Forrester 80% of businesses think they do customer experience well, but only 8% of customers agree with that. T.h.a.t is some gap.
It’s an outside -in process. Your customers have changed, how they want to interact with you has changed, what they expect from you has shifted and your business models and processes will need to adapt to that. It’s do or die.
What is digital transformation?
This is what we call digital transformation. It simply means that constantly evolving and changing market behaviours and technologies drive your business and that you re-align existing, or invest in brand new;
Skills & resources
You do all of this because;
1 – You need to drive new value for customers
You can’t just buy a new CRM system or build a new website and be done with it. You have to start by evaluating what’s different about your customers. How has their behaviour changed and how does this affect the value they now expect?
2 – Staff are going to make it happen
Digital transformation is not just about technology, it’s about people and therefore about change-management. Big organisational change means that existing skill-sets may need to evolve.
For example, with the help of new technology, say Salesforce Marketing Cloud, a marketing manager may finally feel that the new tool will make them look like demi-gods. They can finally tailor messages to individuals rather than to whole market segments, and thus become more relevant. (resulting in more sales or conversions)
However, the skills required to map out a myriad of customer journeys, and automate the response process is far more technical than any generalist marketer has had to deal with previously. Therefore their skill-set will have to evolve too. It’s do or die.
You may also have to hire people with skillsets you didn’t think you needed before. For example; A business analysis who can make sense of your data and help you get insights about what changes your business needs to make to better service customers or potential customers, will be a vital asset to your team.
Ad 3 – You need to stay in the game. Disrupt or be disrupted
If you keep doing business as usual you’ll actively make yourself irrelevant. Even if you think your industry and category is still miles away from all “this modern stuff”, your customers’ changing behaviours will be driven by other categories and thus still affect you.
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.