Fra sporadisk til strategisk

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From sporadic initiatives to strategic goalsetting

Kristoffer Okkels, Senior Digital Business Consultant Simon Kibsgård, Lead Digital Business Consultant

© Creuna

How to develop, prioritize, and measure your digital efforts






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Agenda

© Creuna

1. A digital perspective on strategy

2. How we work with strategy at Creuna

3. Strategy applied and measured


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A digital perspective on strategy

Times are changing. And we’re in need of…

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Top-PowerPoint menu Digital changes everything © Creuna

Image Courtesy: Gratisography




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Digital changes…

…how products are made …digitally enhanced… …and delivered to us

…how we are educated Image Credits: #1 #2 #3 #4 #5 #6 #7

…how we pay for our coffee …and how we interact




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© Creuna

Consumer

behavior is

changed

for good




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© Creuna

But the

B2B world

is just as

affected




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© Creuna Image courtesy: Oxfam

And it’s

definitely

not only a

local thing




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Every century or so, funda-mental changes in the nature of consumption create new demand patterns that existing enterprises can’t meet. - Shoshana Zuboff, Harvard Business School

© Creuna http://www.mckinsey.com/insights/strategy/creating_value_in_the_age_of_distributed_capitalism

”

”




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Innovation across all industries

© Creuna


The 5 forces revisited

Heavily borrowing from Forrester

New entrants barrier lower than ever Industry competition

getting fierce

Substitution via disruption

Purchasing power with power-ups

Production, distribution and service come

plug&play

technology empowers buyers with

information and tools Digital services commoditizes physical

products

perfect insight in competitor pricing and

policies

Employees are key to supply

Hiring & retention of talent is key as they carry their ideas with

them




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Go downstream, not upstream

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Production Logistics Sourcing

Customers Insights Innovation




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Don’t ask “What else can we make?” but rather “What else can we do for our customers?” © Creuna

Source: Niraj Dawar, Harvard Business Review. http://hbr.org/2013/12/when-marketing-is-strategy/ar/pr




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Looking from the outside-in customers don’t care about silos

© Creuna Imge Courtesy: https://www.flickr.com/photos/thepurpledog1031/12424759184/




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That’s why this picture is flawed

© Creuna

Digital Strategy Acme Inc.

Social Media Strategy Acme Inc.

Innovation Strategy Acme Inc.

Marketing Strategy Acme Inc.

Product Development Strategy Acme Inc.

Ello Strategy Acme Inc.




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Digital isn’t a strategy. Digital is the gunpowder that enables a powerful customer experience. © Creuna


© Creuna

Customers

Business

Technology

Put digital in the sweetspot

Digital







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Global innovation top 1000

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Need seekers

Market readers

Technology drivers

Source: http://www.strategyand.pwc.com/media/file/Strategyand_2013-Global-Innovation-1000-Study-Navigating-the-Digital-Future.pdf








The key to succes is understanding all three areas, making

deliberate choices about where to compete and applying the

right digital enablers.




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Using digital enablers pays off Percentage saying they outperfom their competitors

© Creuna Source: http://www.strategyand.pwc.com/media/file/Strategyand_2013-Global-Innovation-1000-Study-Navigating-the-Digital-Future.pdf

53%

30%

Significant use of Digital Enablers

Low or moderate use of Digital Enablers




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How digital has enabled the post-it…

© Creuna Source: http://www.post-it.com/wps/portal/3M/en_US/PostItNA/Home/Ideas/Plus-App/

Business

Technology Customers

Digital





How we work with strategy

The Creuna Approach

© Creuna


Digital is in the sweetspot of competitive advantage

Customers

Business

Technology

Digital

Customer Experience Design

Digital Business Development

Strategic Technology Optimization

Creuna’s offerings are designed to grow your business




Top-PowerPoint menu The Brand When everything is up in the air

The Program A new market, solution or target group

The Product When we want to improve a core product

We typically see 3 types of projects…

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Top-PowerPoint menu Vision What’s our purpose?

Strategy What will we do to fulfil this purpose?

Tactics How and when are we doing it?

Brand, program or product …and 3 levels of strategy



This is our strategy process

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1. Insights 2. Vision and directives 3. Must-win battles

4. Tactical initiatives 5. Priorities 6. Roadmap




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© Creuna

Acme Bank Low market share among young population

Market fragmentation due to digital disruptors

Desire to be considered a thought leader



© Creuna




© Creuna

Customers

Business

Technology

Insights across the plate

Digital

touchpoint analysis analytics observations and interviews external focus groups

platform analysis compatibility research digital maturity analysis

market and competitor analysis stakeholder interviews internal focus groups



© Creuna




Visions aren’t just fluffy words

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Makes strategies easier to communicate

Unites and motivates employees…

…and leaves room for contextual interpretation








Without a vision it’s just parts

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The vision is foundation for design principles

…and makes tactical prioritization easier




Top-PowerPoint menu Sense In what way do you provide a sensory experience? Feel What feelings are left behind? Think Which mental implications are implied? Act What physical implications are proposed? Relate What identifies you as a group or culture?

Visions should be engaging

© Creuna Source: Bernd Schmitt: Experiental Marketing (1999)




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© Creuna Source: Bernd Schmitt: Experiental Marketing.

To be a visually appealing and elegant bank, a kind and trustworthy bank, responsible and foresighted, service- and action-oriented, and international and German at the same time.




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© Creuna Source: Bernd Schmitt: Experiental Marketing.

To be a visually appealing and elegant bank (sense), a kind and trustworthy bank (feel), responsible and foresighted (think), service- and action-oriented (act), and international and German at the same time (relate).



© Creuna




While the vision sets the ambition, must-win battles represent the strategies needed to realize the vision.

Must-win battles

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Must-win battles 1 2 3 4 5

Business


The Vision


A must-win battle framework

To be a visually appealing and elegant bank, a kind and trustworthy bank, responsible and foresighted, service- and action-oriented, and international and German at the same time.

Vision Key success factors •  Build brand awareness and image among young consumers utilising both segment

specific marketing activities and cross segment synergies

•  Introduce digital customer facing tools

•  Digital customer service

•  Build and launch targeted online platform

•  Establish ecommerce sales on specific test markets

•  Develop detailed country-specific retail channel strategies (direct markets)

•  Implement tiering model for indirect markets

•  Work closely with key growth markets to ensure that they get the necessary support and focus in order to realise the potential

•  Strengthen (expand) product innovation team

•  Establish strategic technology partnerships

•  Expand product categories to attract new customer groups (digital generation) integrating with mobile devices

•  Optimise existing product portfolio

Must-win battles

Increase brand value and reach through stronger marketing and a new online channel strategy.

Increase market effectiveness in direct markets and large indirect markets.

Strengthen the product development team and launch new products targeted young consumers.


A must-win battle framework

• Build brand awareness and image among young consumers utilising both segment specific marketing activities and cross segment synergies •  Introduce digital customer facing tools • Digital customer service • Build and launch targeted online platform

Increase brand value and reach through stronger marketing and a new online channel strategy.




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Business Performance

Net income

Margins

Price Cost

Volumes

Market share Market size

Customer Satisfaction

NPS Loyalty

Customer Effort Score

How do we link must-win battles to business performance?

© Creuna

Increase brand value and reach



© Creuna




Coherence is key

© Creuna

Tactical initatives

Every tactical concept should be able to be traced back to the must-win battles in order to be aligned with the vision.

Must-win battles 1 2 3 4 5

Business


The Vision


Sources of inspiration

© Creuna

Ideation workshops

Existing idea backlogs

Service and support center …

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Which initiatives will stick around?





Top-PowerPoint menu Let’s use Facebook for customer service

Let’s launch an online mortgage calculator

Two tactical concepts

© Creuna


Insights E.g. “A lot of direct mails/calls to Support are from people, that did already visit Service & Support section without any luck. Support estimates, that manual handling of trivial support costs € per enquiry.“

Anchoring tactics Facebook for customer service

Net income

Margins

Cost

Facebook support

Performance Tactics

Tactics # Use Facebook to respond more effectively to customer enquiries

Tactics# Use new Facebook presence to market superior digital customer service.


Insights E.g. "of people using our mortg. calc., 36% file an application. Sales estimate, that 20% of these are converted into new customers. A new customer is worth € in life time value“

Anchoring tactics Online mortgage calculator

Net income

Volumes

Market share

New application

filers

Users of mortg. Calc.

Performance Tactics

Tactics # Calculator to make it easier to find the right mortgage for first time buyers

Tactics# Use Twitter to get more urbanities to know about and try our calculator.


Enter the business case

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The actual metrics for the business case are obviously dependent on the context of the specific initiative, but the case should ultimately be cohesive with the business KPIs.




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Tactical concept example #1 Facebook for customer service

© Creuna

Trustworth-iness (vision)

Service-orientation

(vision)

Brand value (MWB)

Market reach (MWB)




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Tactical concept example #2 Online mortgage calculator

© Creuna

Trustworth-iness (vision)

Service-orientation

(vision)

Brand value (MWB)

Market reach (MWB)


New biz sales: + 4,9% Churn: - 5,9%

Revenue: +3.500.000 EUR

+23.000 customers

PERSONALISERET WEBOPLEVELSE

0

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

© Creuna

Tactical concepts ROI forecast



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How to pick and prioritize

Contribute most significantly to bottom and/or top line

Are critical to a large volume of important customers

Fit customer journeys and create unique and memorable experiences

Are likely to create customer satisfaction and loyalty

Are currently under- or over performing

Define and prioritize by asking which tactical initiatives:

© Creuna




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start small!




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© Creuna



© Creuna




A combination of at least goals, time and scope of tactical initiatives in a way that is: •  Prioritizable •  Executable •  Communicable

What’s a roadmap?

Preferably the roadmap will also relate to other current focal points of the organization like: •  Prioritized target groups •  Strategic and practical constraints •  Implemented technologies •  Internal stakeholders

Image Courtesy: Gratisograpjy © Creuna


Initiatives often come in wonderful spreadsheets…

57 © Creuna




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Initiatives relate to strategies

© Creuna

Create platform

Enable Sales

Personalize Shopping Experience

Expand Choice

Engage Customers

Secure Retention + Loyalty











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s

© Creuna


Relating to must-win battles…

© Creuna


A good roadmap…

1.  Catches eyeballs 2.  Invites to dialogue 3.  Is easy to communicate 4.  Relates to established

strategic ambitions 5.  Is both proactive and a way of

”exhausting crazy ideas” 6.  Is open to change

© Creuna




Strategy applied and measured

© Creuna


Meet Peter.

© Creuna Image Courtesy: https://www.flickr.com/photos/thomas-luebke/13385750213

Peter needs a new credit card. Peter goes online to apply for the card.

Three levels of a relationship…

Level 2. A customer journey E.g. getting a new credit card

Level 3. An interaction E.g. applying via an online form

Level 1. The entire ongoing customer relationship E.g. being the customer of an online bank

© Creuna

Descriptive metrics are about what happens, for example which steps a user goes through, or how many users click through on a banner.

…and three types of metrics

B

A C

Descriptive metrics Experience metrics Outcome metrics

Experience metrics are about how it was perceived, i.e. the users’ perception and feeling of what happened. For example, how satisfied a user is with a product, or what he associates with the brand.

Outcome metrics are about what we as a business get out of it. For example higher sales or lower costs, or other things that lead to either of those.

© Creuna



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Defining metrics for each experience

© Creuna

1.  There should be a logical hierarchy of metrics

2.  Outcome metrics should align with key business drivers

3.  Perception metrics should reflect quality attributes from brand and customer experience strategy

4.  Descriptive metrics should relate to what affect customer perceptions the most

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Overall CX

Metrics in a relational framework

(examples)

Transactions

Accounts opened

Product registrations

Time on hold

Use of help function

Task time

Negative sentiment in social media Call hang-ups

Etc.

Right items available

Key information available

Help available

Quick order

Clear information

Help accessible

Empathic CSR

Visually appealing website

Pleasant store ambiance

Meets needs

Easy

Enjoyable

Journey satisfaction

Proxy outcomes (e.g. Net Promoter Score,

likelihood to deflect, revenue at risk)

Actual outcomes (e.g. repurchases, churn

rates, EBITDA, new leads)

Descriptive metrics What happened

Experience metrics How was it perceived

CX attributes (examples)

CX quality / brand attributes

(examples)

Overall perception of experience

Outcome metrics What we get out of it

as a business

Source: Forrester Research, Creuna research and methodology



Surveys at interaction, journey and experience levels with e.g. Qualaroo, Questback. Qualitative research through e.g. interviews, social media, call center logs, observations etc.

Operational tracking e.g. Web Analytics, CRM, data from products & software

Business intelligence systems, e.g. CRM, ERP,

DSS. Surveys.

…

(examples)

Typical data sources and analytics tools à



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© Creuna

Peter’s back.

Image Courtesy: https://www.flickr.com/photos/thomas-luebke/13385965964/

This time, he’s out to buy his first house. He’s a bit uncertain about the mortgage, though, so he goes online.



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Online mortgage calculator Customer service on Facebook

Two features trigger his interest…

© Creuna



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The framework applied

Proxy: Effect on

overall NPS, likelihood of repurchase

Actual: Economic

value added

Descriptive metrics What happened

Experience metrics How was it perceived

Outcome metrics What we get out of it

as a business

Source: Forrester Research, Creuna research and methodology © Creuna

Bounce rate Unfinished forms

abandoned Applications

received

Avg. time to reply Share of

problems resolved Positive sentiment

Mortgage calculator Use of help / chat

Time on hold

Customer service

Had my expected information

Help quickly available

Task completion

Quick completion

Clear information

Effective auto fill

Confident to continue

Service feel

Foresighted tone of voice

Effectively meets needs

Seamless experience

Service & action-or.

experience


rate



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start small!

1 segment

2 journeys

4 interactions

Make it a mantra to define which..

© Creuna

..are the most important

© Creuna

© Creuna

Acme Bank



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7 steps to successfully measuring CX

Source: Based on Forrester Research, Creuna research and methodology. Image Courtesy: Gratisography

Choose customer segments 1

Select which experiences to measure 2

Pick CX metrics for each experience 3

Design a data collection strategy 4

Set targets for each CX metric 5

Identify and act on CX issues 6

Share insights gained from CX measurement 7 © Creuna




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thanks for listening! Kristoffer Okkels, Senior Digital Business Consultant Simon Kibsgård, Lead Digital Business Consultant

[email protected] [email protected]

+45 22 49 83 39

© Creuna

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+45 22 49 83 41