The Secret to Digital Strategy Success
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Charlene Li emphasizes that successful digital strategy hinges on prioritizing people over technology, focusing on relationship-based components such as engagement, data, capabilities, and leadership. Key insights include the importance of understanding customer behavior, utilizing social data for targeted communications, and creating a supportive organizational culture. Developing trust and scaling engagement are crucial for achieving impactful digital transformation.
The Secret to Digital Strategy Success
- 1. Charlene Li, CEO and Principal Analyst @charleneli The Secret to Digital Strategy Success Putting People First, Not Technology
- 4. STRATEGY What you will do…and won’t do with digital
- 5. Digital is About Putting People First
- 6. Short -term Transactional Occasional Impersonal Long-term Two-way Constant Authentic What kind of relationship do you want?
- 7. Four Components of a Relationship-Based Digital Strategy 1. Engagement 2. Data 3. Capabilities 4. Leadership Digital Strategy
- 8. Four Components of a Relationship-Based Digital Strategy 1. Engagement
- 9. Why Most Digital Strategies Fail Measuring campaigns not relationships
- 11. Lead scoring Prevent Churn Conquesting Sampling Reward loyalty Promote advocates Reactivation Product personalization Identify influencers Lookalike Audiences Anticipate support find understanding customer behavior an extremely significant challenge 53% Mapping the Customer Journey
- 12. Maersk Line Maps and Plans Engagement by Type of Relationship
- 13. Wells Fargo’s Command Center Operates at Scale Strategy •Early alert system for emerging issues •Routing and triage to stakeholders •Data trends on a range of topics Structure •60 active users (dashboards and data) •Runs on Brandwatch •Rolled out in early 2014 Benefits •Insight for senior leaders •Speed to market for new products •Improved customer service 13
- 14. Wells Fargo Mortgage Brokers Empowered on Facebook and Linkedin Facebook Linkedin
- 15. Four Components of a Relationship-Based Digital Strategy 2. Data
- 16. SEM Website content Ads: display, retargeting, affiliate Email SMS Case Study: Universal Music Group uses social data to better target customers •Profile •Friends •Reviews •Comments •Location •Shares •Views •Likes
- 17. Universal Music Group uses social data to better understand customer interests 1.Match social profiles to email through social login Social scores Append to email database 2. Capture social signals •Facebook Likes •Twitter Follows •Spotify Listens •Youtube Views
- 18. Non-Targeted Email Unique Open Rate: 7% “Batch & Blast” Content Heavy 20+ Promoted Items UMG’s Interscope Records Customer Email
- 19. Interscope Sees Lift in Open Rates by Targeting with Social Signals Semi-targeted Email Unique Open Rate: 16% Targeted Twitter Followers of • Will.i.am • Britney Spears • Lil Wayne • Diddy
- 20. Note: for those unfamiliar, “The XX” is a band Combining Social Scores for Even More Relevance ∙ Targeted Email Unique Open Rate: 66.7% ∙ 10x increase ∙ Targeted by: ∙ “The XX” Social Scores* ∙ Great Gatsby Social Scores
- 21. Finding the value of digital transformation can be like navigating with a flashlight
- 22. Data Diversity Requires Data Expertise Content Type Social Action Type Content Lifespan Platform Demographic Type of User Relationships Data Types Location Awareness
- 23. Clean Data is Happy Data ∙Source: Altimeter Group 23 Publishers (Social Networks, Community, Enterprise Collaboration) Social Data Middleware (Gnip, DataShift, Topsy, Firehouse, Public APIs) Social Applications Listening/Monitoring Engagement SMMS) Publishing Analytics Enterprise Applications CRM BI Market Research Commerce Email Marketing Fraud Detection/Risk Mgt Supply Chain
- 24. Social Data Intelligence Emerges Over Time
- 25. Ask the Right Question about Value 25 “We tend to overvalue the things we can measure, and undervalue the things we cannot.” - John Hayes, CMO of American Express
- 26. Four Components of a Relationship-Based Digital Strategy 3. Capabilities
- 27. Biggest Challenges of Digital
- 28. Converged Media Challenges Culture and Organizations Media Buyers Advertising Sponsorships Content Marketing Communications Business Units Public Relations HR/Advocacy
- 29. Create a Center for Excellence with Clear Responsibilities 29 Executive Alignment Content & Customer Experience Policies Best Practices Sharing Metrics & Accountability Staffing & Training Enterprise Platforms Listening & Analytics Enterprise Digital Strategy Develops content strategy that supports CX. Oversees POE platforms including Web, Community, Facebook, Twitter, LinkedIn Coordinates digital policies and procedures Leverage best practices across Regions/LoB Align Investment in holistic digital approach Help set standards for staffing / roles and training Leads process across functions to prevent needless silos in strategy Provides insights for use throughout the organization Manage a set of common platforms all Regions/LoB need Manage common measurement framework to ensure ROI impact Digital Hub
- 30. TD Bank Focuses on Employee Engagement to Connect with Customers 30 •85,000 users in CND & USA •2M connections made •6,500 communities Business Value •Build for the Future •Supports Transparency •Supports Unique & Inclusive Employee Culture •Productivity •Employee Engagement
- 31. 7,000 Applebee’s employees in 1,000 locations monitor and respond to customers in social media
- 32. Planning is Needed to Scale Engagement Community ∙Where are they? ∙What are the touch points? ∙Who’s interacting with them? Content ∙Where is it coming from? ∙Local vs. regional vs. national ∙How is it distributed? Governance •Who has permission? Training? •What are the brand guidelines? •How do you empower but maintain oversight? Orchestration •Who’s responsible? (local/regional/national) •How do you monitor? •How do you analyze the data? EXTERNAL INTERNAL
- 33. Education Develops Judgment – and the Confidence to Use It What you should do What you shouldn’t do Judgment is needed in between
- 34. Four Components of Digital Strategy 4. Leadership
- 35. Leadership Framework for the Digital Era Create Shareable Digital Content Set Digital Engagement Strategy Filter Digital Signal from Noisy Data Drive Organizational Digital Capabilities Personal Organizational Internal External
- 36. Key Players in Digital Transformation CHRO CMO CIO
- 37. How to Get Results
- 38. #1 Develop Trust
- 39. #2 Focus
- 40. #3 Scale
- 41. Digital is About Putting People First