tag:econsultancy.com,2008:/topics/skills-capabilities Latest Skills & capabilities content from Econsultancy 2017-08-03T10:02:41+01:00 tag:econsultancy.com,2008:WebinarEvent/897 2017-08-03T10:02:41+01:00 2017-08-03T10:02:41+01:00 Ask Me Anything - Digital Transformation: Getting Started <p><img src="https://assets.econsultancy.com/images/0008/8065/ask-me-anything_landing-page.png" alt="" width="552" height="277"></p> <p>Ask Me Anything is our new interactive webinar series designed for you to discuss strategies and pick the brains of our experts when it comes to your digital transformation.</p> <p>For the first Ask Me Anything session, we will be exploring what Digital Transformation is all about:</p> <ul> <li>What does Digital Transformation actually mean?</li> <li>Roles &amp; responsibilities of the people involved</li> <li>How and where to start the digital transformation process</li> </ul> <p>Our panel of Econsultancy experts are <strong>Eu Gene Ang</strong>, Lead Trainer, Asia, <strong>Damien Cummings</strong>, Entrepreneur-in-Residence &amp; Principal Consultant, APAC, and <strong>Jeff Rajeck</strong>, Research Analyst, APAC.</p> <p>Register for the webinar and <strong><a href="https://docs.google.com/forms/d/e/1FAIpQLSeEwN7RdoocOUqr_PoAMuSuyw2zBy0Lyoe7NnNtxcyu1Z7eHw/viewform" target="_blank">submit your questions</a></strong> by <strong>25th August 2017</strong>. Each successful question submission will be entitled to a chance to win a ticket (worth SG$375) to <strong><a href="https://convergence.events/" target="_blank">Convergence 005</a> </strong>(18th September, Marina Bay Sands Singapore). We aim to answer all the questions during the webinar session.</p> <p>Tweet about the webinar using the hashtag <strong>#EconAMA</strong>.</p> <p><strong>Webinar done in collaboration with:</strong>   <a href="https://www.ntuc.org.sg/uassociate/" target="_blank"><img src="https://assets.econsultancy.com/images/resized/0008/7981/ua_logo-blog-flyer.png" alt="" width="205" height="50"></a></p> <p><strong>FAQ:</strong></p> <p><strong>I'm not an Econsultancy subscriber, can I join?</strong></p> <p>Ans: You sure can. The sessions are complimentary for existing customers and new friends.</p> <p><strong>Will the session be recorded?</strong></p> <p>Ans: Yes! We record all of our webinars, and we'll send out a link to the recording the following week.</p> <p><strong>What if I register but can't make it?</strong></p> <p>Ans: It's all good. We'll send a follow-up with key takeaways and a link to the recording.</p> <p><strong>Can I ask questions?</strong></p> <p>Ans: Absolutely! This session is for you. Please <strong>submit your questions <a href="https://docs.google.com/forms/d/e/1FAIpQLSeEwN7RdoocOUqr_PoAMuSuyw2zBy0Lyoe7NnNtxcyu1Z7eHw/viewform" target="_blank">here</a></strong> and hear our experts respond to your questions at the live webinar.</p> tag:econsultancy.com,2008:BlogPost/69283 2017-07-31T12:30:00+01:00 2017-07-31T12:30:00+01:00 10 things agency owners can do to help their Business Development Manager flourish Ben Potter <p>So what can agency owners do to ensure they make a success of their fledgling business development function? Here are a few thoughts based on someone who has been there and bought the t-shirt (from a very good salesperson might I add).</p> <h3>1. Develop your knowledge and appreciation of business development</h3> <p>If the discipline of business development is under-valued by agency owners (or anybody else for that matter) it’s because it’s misunderstood. It’s completely unrecognisable from the traditional, negative perception of ‘sales’ or ‘selling’. This is reflected in the heady blend of attitudes (blue), behaviours (yellow) and skills (grey) required to do the job well. </p> <p> <img src="https://assets.econsultancy.com/images/0008/7771/BDM_attitudes__behaviours_and_skills.PNG" alt="Attitudes, behaviours and skills of successful BDMs" width="741" height="415"></p> <p>Before you do anything, make an effort to read a <a href="https://www.amazon.co.uk/Only-Sales-Guide-Youll-Ever/dp/0735211671" target="_blank">decent book</a> or two and understand some of the <a href="https://econsultancy.com/blog/68385-ten-guiding-principles-to-help-small-digital-marketing-agencies-win-more-business/" target="_blank">principles of business development</a>. It will make you more appreciative of the role, more realistic in your expectations and a better manager.</p> <h3>2. Know what you’re looking for</h3> <p>If you haven’t recruited a BDM before, do your research and seek help. Look at other agencies and their job specs. Look at BDM’s on LinkedIn; their background, experience and the language they use. And speak to recruitment agencies with experience of placing BDM’s into agencies.</p> <p>The better you understand the responsibilities and requirements of the role, the more equipped you’ll be to put together a decent job spec, interview questions and tasks. You’ll also know what to look out for if using personality profiling techniques, such as <a href="https://en.wikipedia.org/wiki/Myers%E2%80%93Briggs_Type_Indicator" target="_blank">Myers Briggs</a>.</p> <h3>3. Ensure you have a credible value proposition  </h3> <p>Even the best BDM is not a miracle worker. If your <a href="https://econsultancy.com/blog/68869-why-your-agency-s-value-proposition-probably-sucks-and-what-to-do-about-it/" target="_blank">proposition is weak</a> or your products / services uncompetitive (due to price, quality, service), hiring a BDM will make little difference. </p> <p>A relevant, compelling and credible agency proposition is the foundation of a successful business development strategy. It forms the basis of how the BDM will communicate your agency’s offering and value to prospects. If it’s not right, work on it.</p> <h3>4. Become a Sales Director… of sorts</h3> <p>A BDM is not <em>the</em> solution to winning more business. They are <em>part of</em> the solution (albeit an important one). As an agency owner that means the hard work doesn’t stop once they are on board. </p> <p>Their success will be largely shaped by your ability to manage them. In effect, you become an overnight Sales Director, responsible for inspiring, motivating and holding the BDM to account.</p> <p>If a BDM is left to their own devices, with poor stewardship from someone who doesn’t understand business development, they are very unlikely to succeed.</p> <h3>5. Invest in marketing, especially content</h3> <p>Prospects are busy, they research on their own terms and are inundated by other suppliers. Therefore, buying lists, ‘hitting’ the phones or sending hundreds of generic emails doesn’t work. We are way beyond that. </p> <p>If a BDM is to open new doors and nurture relationships, they need to create value through their communication. This means understanding the challenges faced by prospects, empathising with them, advising when appropriate and being helpful.</p> <p>To do this, the BDM needs a ‘tool kit’ of relevant, useful and engaging content. They simply will not have the time or expertise to create or curate this on their own. They’ll need the support of the wider team, particularly the discipline experts.</p> <p>Positively, most agencies invest in creating content. The key is to ensure that the content plan is, in part, driven by the new business strategy. </p> <h3>6. Give the BDM time to build a sales function</h3> <p>The frameworks, processes and templates that will exist in a more established new business department are probably thin on the ground if you’ve never had a BDM. A lot of small agencies I speak to don’t even use a CRM (for someone as anally retentive as I am when it comes to recording every call, email or even the slightest of enquiring glances at a networking event, this frightens the hell of out of me).</p> <p>With nothing to work from, you are essentially tasking the BDM with building a sales function from scratch. There’s nothing wrong with this as long as you give them the time and support to do so.</p> <h3>7. Approach business development as a team effort</h3> <p>The BDM is on board to own and lead new business. But they can’t do it on their own. He or she will need help from the wider team. Along with content, they can support the BDM in all manner of ways, from industry research to attending pitches. </p> <p>Another often forgotten point is that a BDM needs to believe in what they are selling – in an agency that generally means its people. Yet too often business development sits to the side of the agency, rather than at its heart. All the onus is on one person, rather than a collaborative effort where everybody plays a part. </p> <p>If you want your BDM to succeed, put them at the centre of the agency where they can hear everything going on and build relationships with the team; the people whose expertise and experience they are ultimately selling.</p> <h3>8. Invest in their development</h3> <p>I’ve done business development for the best part of (uh um) 15 years. But I learn new things every day.</p> <p><strong>There isn’t a BDM in the world who is the finished article.</strong> In fact, there isn’t a human being alive who is the finished article (apart from Bruce Springsteen, obviously). </p> <p>This means your investment in a BDM goes way beyond their salary. They need the necessary support, internally or externally, to continuously build their knowledge, skills and network.</p> <h3>9. Give credit when it’s due… and support when perhaps it’s not</h3> <p>Only a seasoned BDM knows just how much commitment, patience, resourcefulness and attention to detail it takes to win that dream client.</p> <p>It might take months, sometimes years, of hard graft.</p> <p>Celebrate every win like it was the first. Ensure the BDM’s pivotal role is acknowledged and understood by everyone. Celebrate the small wins too – the appointment booked with a great prospect after months of trying, for example. </p> <p>People in sales are (hopefully) motivated by the opportunity to smash a target and the financial rewards that comes with doing so. But this isn’t all they care about. The pat on the back, the casual ‘well done’, the motivational ‘keep your chin up’ are just as important as any financial rewards, especially when they’re on a bad run... which, trust me, happens. </p> <h3>10. Don’t pull the plug too soon</h3> <p>It will typically take a BDM 6–12 months before they’re flying. This is of course dependent on a whole host of factors, some of which have been explored above.</p> <p>Yet I speak to agency owners that have got shot of a BDM after three or four months, blaming their poor performance. Granted, in some instances perhaps the BDM just wasn’t right for the agency. But in others, I’m not convinced the BDM was given the necessary support, time and resources to deliver.</p> <p>So before you give them the old heave-ho, consider whether it might be you, not them. Have you given them the best possible platform from which to perform?</p> tag:econsultancy.com,2008:BlogPost/69265 2017-07-20T17:43:59+01:00 2017-07-20T17:43:59+01:00 The evolving relationship between brand marketers and agencies [New research] Nikki Gilliland <p>Econsultancy’s <a href="https://econsultancy.com/reports/partners-in-transformation-what-brand-marketers-need-from-agencies/">Partners in Transformation report</a> in association with IBM delves into this topic, specifically looking at the areas agencies should be focusing on in future.</p> <p>Before we take a closer look at the research, note that the companies who took part in the study are split into ‘high performing’ and ‘mainstream’, with the former significantly exceeding their top 2016 business goals compared to others that are defined by a poor to average marketing performance.</p> <p>So, what do brands need from agencies in 2017 and beyond? Let’s get into it.</p> <h3>CX support for different stages of the journey</h3> <p>Improving customer experience remains at the heart of most brand growth strategies, however, agency input usually depends on where companies are in the process of implementation (and current levels of success).</p> <p>Our research shows that high performing companies are far more engaged with their agencies in areas related to customer service – 65% compared to 40% of mainstream companies. </p> <p>High performing companies also draw on different kinds of expertise, with 44% citing new and innovative ideas for improving CX as most important. In contrast, mainstream companies still in the early stages of development largely cite execution and implementation.</p> <p>This shows us that – while CX presents a massive opportunity for agencies of all sizes – it is vital to understand and recognise where brands are in the journey and to determine how they can move forward.</p> <p><img src="https://assets.econsultancy.com/images/0008/7612/CX.JPG" alt="" width="730" height="507"></p> <h3>Turning data into insight</h3> <p>90% of brands agree that knowing more about their customers is the key to improving CX. However, with an increasingly fractured customer journey – with people moving from one device to another and back again – it’s becoming all the more challenging for marketers.</p> <p>Intelligent use of data is the answer, with agencies able to play a vital role in more technical aspects of analysis. However, this doesn’t mean all companies are willing or well-prepared to heed agency advice.</p> <p>High performing companies are nearly 30% more likely to take advantage of their agencies’ ability to turn data into insight than the mainstream. </p> <p>This tells us that lower performing companies tend to get stuck in the cycle of collecting data but doing the minimum with it, whereas real success is generated from making sense of it.</p> <p><img src="https://assets.econsultancy.com/images/0008/7613/Data.JPG" alt="" width="730" height="368"></p> <h3>Technology and training</h3> <p>Similar to the challenges presented by data, many brands struggle to take full advantage of the existing technology they have in place. As a result, agencies can offer value by stepping in and helping brands understand and execute technology-driven marketing.</p> <p>What’s more, agencies can also play a vital role in helping brands to stay on top of innovation, with 42% of high performing companies citing the importance of them ‘helping to source technology providers’.</p> <p>Meanwhile, agencies can help to foster long-term partnerships with brands by providing technology training. This emphasises the fact that value does not just lie in providing greater access to tech, but in helping brands gain a deep understanding of it themselves.</p> <p><img src="https://assets.econsultancy.com/images/0008/7614/Technology.JPG" alt="" width="709" height="354"></p> <h3>Collaboration is key </h3> <p>Despite 92% of all companies saying that it’s important for agencies and internal teams to collaborate, levels of satisfaction are relatively low. </p> <p>Just 19% of mainstream companies say agencies’ collaboration with internal teams is ‘quite effective’, while just 13% say the same for collaboration between multiple agencies.</p> <p>In contrast, high performing companies are much more positive about the situation, citing close relationships, leadership, and regular reviews as the key to successful relationships. </p> <p><img src="https://assets.econsultancy.com/images/0008/7615/collaboration.JPG" alt="" width="740" height="369"></p> <h3>In conclusion…</h3> <p>In such a highly pressurised and competitive landscape, brands often need to turn to agencies in order to drive growth as well as expand their own internal capabilities and expertise.</p> <p>Perhaps the most important takeaway from the research is that there is no single or overarching strategy for success. </p> <p>Rather, the most successful agencies demonstrate the ability to adapt and hone relationships based on client-need, fostering communication, fast decision-making, and collaboration every step of the way.</p> <p><em><strong>Subscribers can download the full report: <a href="https://econsultancy.com/reports/partners-in-transformation-what-brand-marketers-need-from-agencies/">Partners in Transformation: What brand marketers need from agencies</a>.</strong></em></p> tag:econsultancy.com,2008:BlogPost/69254 2017-07-20T09:44:00+01:00 2017-07-20T09:44:00+01:00 Four key digital challenges for IT leaders in 2017 Nikki Gilliland <p>Based on a sample of more than 500 IT leaders, here are a few key charts from the research, highlighting the biggest hurdles IT professionals currently face.  </p> <h3>1. Threat of security breaches</h3> <p>While technical skill is still a given, the role of senior executive within IT departments has evolved into something much broader, requiring a deeper understanding of business objectives. This also means creating a bridge between technology and other areas of the business such as HR, finance, and marketing. </p> <p>This focus on the wider customer experience has also led to the concept of the ‘chief integration officer’ – someone who is able to influence the overall strategic vision of a business. Following on from this, it is clear that the challenges faced by IT leaders are much more complex than they once were.</p> <p>Now, the threat of security breaches and cyber-attacks is cited as a key concern by 41% of respondents – higher than any other area.</p> <p>Perhaps unsurprisingly, executives at organisations with annual revenues exceeding £150m are more likely than their peers at smaller organisations to reference security as a major challenge.</p> <p><img src="https://assets.econsultancy.com/images/0008/7501/Security_attacks.JPG" alt="" width="780" height="535"></p> <h3>2. Finding the right mix of skills</h3> <p>Interestingly, it is larger organisations that cite lower levels of confidence in their digital skills mix, with just 58% agreeing that they are well-positioned in this area compared to 61% of smaller organisations. </p> <p>Similarly, European organisations seem less confident than their American and APAC counterparts. Talent availability is seen as more of a challenge than in other regions, with availability of individuals with the right mix of skills being cited as a top-three internal problem by more than 34% of European respondents.</p> <p>This is also the case when it comes to culture, with 61% of European respondents describing their company culture as "innovative, adaptable and undertaking a ‘fail fast’ approach". When compared with 68% of respondents saying the same for North America and 75% in APAC, it’s clear that Europe is still playing catch up.</p> <p><img src="https://assets.econsultancy.com/images/0008/7504/Skills_and_culture.JPG" alt="" width="739" height="618"></p> <h3>3. Escaping silos</h3> <p>In terms of internal barriers, it appears the age-old problem of organisational structure remains the biggest. 42% of executives cited frustration with departmental silos and bureaucratic processes, while 41% expressed frustration over integrating legacy systems with new tools and technologies.</p> <p>This is even more the case for larger organisations in Europe, with 52% of European respondents citing bureaucracy as a top internal barrier.</p> <p>Interestingly, while support from senior management is less of a concern, a lack of shared vision relating to the meaning of digital transformation appears to be sustaining conflict. Again, this challenge is slightly more evident in Europe, tying in with the aforementioned struggles of skills and culture.</p> <p><img src="https://assets.econsultancy.com/images/0008/7506/Silos.JPG" alt="" width="780" height="541"></p> <h3>4. Keeping abreast of innovation</h3> <p>With IT executives now expected to help drive marketing strategy, keeping ahead of major technologies connected to innovation is another growing challenge – especially for larger organisations.</p> <p>46% of executives at larger companies are more inclined to feel pressure regarding tracking technology and innovation trends compared to 36% of smaller company peers. Interestingly, IT executives appear to be looking outside of their organisations to keep abreast of technological innovation. More than half of respondents say they exploit technology content sites and webcasts and webinars.</p> <p>Lastly, the challenge to keep on top of innovation also extends to finding talent, with increasing importance in striking a balance between traditional technical knowledge and softer skills such as communication, co-operation and strategic thinking.</p> <p><img src="https://assets.econsultancy.com/images/0008/7508/Innovation.JPG" alt="" width="780" height="550"></p> <p><em><strong>Subscribers can download the full <a href="https://econsultancy.com/reports/2017-digital-trends-in-it/">2017 Digital Trends in IT Report</a>.</strong></em></p> tag:econsultancy.com,2008:Report/4535 2017-07-20T09:35:00+01:00 2017-07-20T09:35:00+01:00 2017 Measurement and Analytics Report <p>Never have marketers, analysts and ecommerce professionals had more data to work with as part of their ongoing efforts to improve business and organisational performance.</p> <p>At the same time, the growing challenge for individuals and organisations alike has been to avoid being overwhelmed by proliferating sources of data and metrics across a burgeoning number of marketing channels and technology platforms.</p> <p>The <strong>2017 </strong><strong>Measurement and Analytics Report</strong>, produced by Econsultancy in partnership with analytics consultancy <strong><a href="http://www.lynchpin.com/">Lynchpin</a></strong> for the tenth year running, looks at how organisations are using data strategically and tactically to generate insights and to improve business performance.</p> <p>The report aims to cut through the noise to understand how companies are using measurement and analytics to boost revenue and profit growth, while also looking at the types of technology and data which are used to meet these ends.</p> <p>The research, based on a survey of almost 1,000 digital professionals, focuses on the important role for data and analytics in supporting their attempts to build a competitive advantage by becoming more customer-centric. The report also explores how the worlds of data science and digital analytics are converging as companies strive to extract valuable insights from a wealth of information relating to digital activity in the context of the wider business.</p> <h2>What you'll learn from this research</h2> <ul> <li>Understand how analytics can help to meet financial goals and what the most common growth and profit-related requirements are.</li> <li>Discover how organisations are using data and analytics to build a competitive advantage by becoming more customer-centric.</li> <li>Benchmark the make-up of your analytics or data team and investment plans against those of your peers.</li> <li>Find out where the biggest analytics skills gaps are and what the most common challenges related to deploying tools and technologies organisations face.</li> </ul> <h2>Key findings from the report</h2> <ul> <li>The majority of companies (64%) do not have a documented data analytics strategy.</li> <li>Only 50% of organisations report executive sponsorship of analytics.</li> <li>Half of organisations surveyed regard digital analytics as ‘very important’ to their digital transformation programme (a jump from 43% in 2016).</li> </ul> <h2>Contributors</h2> <p>Econsultancy would like to thank the following people for their contributions to this report:</p> <ul> <li>Amiy Chatley, Digital Analytics Manager, TUI</li> <li>Matteo Fava, Global Head of Analytics, Delivery Hero</li> <li>Graeme McDermott, Chief Data Officer, Addison Lee</li> <li>Andrew Morris, ‎Head of Digital Insight Delivery, RS Components</li> <li>Alejandro Pereda, Head of Insight, Euromoney Institutional Investor plc</li> </ul> <p><strong>Download a copy of the report to learn more.</strong></p> tag:econsultancy.com,2008:Report/4538 2017-07-17T01:00:00+01:00 2017-07-17T01:00:00+01:00 State of Marketing Automation in Australia and New Zealand <p>The 'holy grail' of marketing automation envisaged by marketers sees the complete elimination of internal data silos to build a 360-degree view of the customer, and the utilisation of this intelligence to enable deeper, personalised engagement with prospects and clients.</p> <p>But how close are today’s marketers to realising this?</p> <p>This is Econsultancy’s first <strong>State of Marketing Automation in Australia and New Zealand</strong> report, published in association with <a title="Oracle Marketing Cloud" href="https://www.oracle.com/marketingcloud/about/australia-new-zealand.html">Oracle Marketing Cloud</a>.</p> <p>The research is based on a survey of over 350 marketing professionals based in Australia and New Zealand, and evaluates current adoption levels, tools and processes employed as well as barriers to effective use of marketing automation.</p> <p>Key insights from the research include:</p> <ul> <li> <strong>The majority of companies are choosing to manage their marketing automation in-house.</strong> Three in five (59%) organisations have an in-house team managing marketing automation activities, with only a fifth outsourcing them to an agency. Large organisations (with annual revenues of more than $50 million) are more likely to outsource their marketing automation.</li> <li> <strong>Budgets and internal buy-in are there, but a capability gap is hampering the potential of marketing automation.</strong> Encouragingly, a lack of budget and organisational buy-in prevents only a minority of organisations (20% and 12% respectively) from implementing their automation strategy. The most common barriers are related to data integration and inadequate resources.</li> <li> <strong>There’s a pressing need for data unification.</strong> Only a quarter of companies are working towards the creation of a unified database. Furthermore, nearly half of companies say that integrating data is the most significant barrier to effectively implementing a marketing automation strategy.</li> <li> <strong>Cloud-based SaaS platforms lead the way at an enterprise level.</strong> Large organisations (with annual revenues of at least $50 million) are more likely to use cloud-based SaaS platforms that include automation (38% vs. 28% of smaller organisations).</li> </ul> <p><strong>Download a copy of the report to learn more.</strong></p> <p>A <strong>free sample</strong> is available for those who want more detail about what is in the report.</p> tag:econsultancy.com,2008:Report/4502 2017-06-08T11:00:00+01:00 2017-06-08T11:00:00+01:00 Digital Transformation in the Financial Services and Insurance Sector <p>The<strong> Digital Transformation in the FSI Sector: Gearing up for success in a changing market</strong> report builds on our <a href="https://www.econsultancy.com/reports/digital-transformation-in-the-financial-services-sector-2016">previous report</a> looking at digital transformation in the sector. The report aims to explore the approaches new entrants are taking and their focus on the customer experience and marketers' responses to challenges, as well as providing recommendations on approaches to and opportunities related to digital transformation.</p> <h2>Methodology</h2> <p>We carried out a series of in-depth interviews with senior executives from across the financial services and insurance industries to understand how a range of organisations were responding to different opportunities and challenges.</p> <p>Companies interviewed included: The AA, Atom Bank, Aviva, AXA PPP Healthcare, Bought By Many, Lloyds Banking Group, Monzo, National Australia Bank, OCBC Bank, HSBC Singapore, Salesforce and UBS Wealth Management, APAC.</p> <p>We also looked at sector-specific data from our <a href="https://www.econsultancy.com/reports/2017-digital-trends-in-financial-services-and-insurance">2017 Digital Trends in Financial Services and Insurance sector</a>.</p> <h2>What you'll learn</h2> <p>The financial services industry has seen more disruption in the last few years and continues to face significant challenges as new players are seizing the opportunity to enter these markets and new models emerge.</p> <ul> <li>Customer experience continues to be a major focus for marketers and new entrants are focusing on differentiating the customer experience and making the financial lives of customers easy.</li> <li>Having the right strategy and culture to deliver digital transformation is seen as essential with strong leadership from the top.</li> <li>Data is perceived as being a huge part of the digital transformation journey.</li> </ul> <h2>You'll discover findings around:</h2> <ul> <li>How companies are looking to differentiate the customer experience and deliver value to their customers.</li> <li>Ways in which companies are re-orientating their focus around customers and moving away from being product-focused to putting the customer first and delivering products and services more aligned to their needs.</li> <li>The importance of earning trust in the sector and delivering more transparent services to customers.</li> <li>Practices companies are adopting to work in a more agile way. </li> <li>Encouraging a digital culture where digital is not a bolt on. </li> <li>Unlocking the value of data to understand customer journeys and behaviour to deliver more personalised and relevant communications.</li> <li>Importance of innovation starting with the customer and how companies are collaborating and partnering to drive change. </li> </ul> <p>Download a copy of the report to learn more.</p> <p>A <strong>free sample</strong> is available for those who want more detail about what is in the report.</p> <h2>How we can help you</h2> <h2 style="font-weight: normal; color: #3c3c3c;"><a style="color: #2976b2; text-decoration: none;" href="https://econsultancy.com/training/digital-transformation" target="_self"><img style="font-style: italic; height: auto; float: right;" src="https://assets.econsultancy.com/images/resized/0004/8296/rgb_dt_logo-blog-third.png" alt="Digital Transformation" width="200" height="66"></a></h2> <p><a title="Digital transformation - Econsultancy" href="https://econsultancy.com/training/digital-transformation/">Digital transformation</a> is a journey that's different for every organisation. To enable delivery of your digital vision (or help you shape that vision) we’ve designed a comprehensive approach to tackle your transformation.</p> <p>Covering everything from strategic operational issues, down to specific marketing functions, we will work with you to achieve digital excellence.</p> <p>Talk to us about an initial, no-cost consultation.</p> <p>Contact our Digital Transformation Team on <a href="mailto:transformation@econsultancy.com">transformation@econsultancy.com</a> or call</p> <ul> <li>EMEA: +44 (0)20 7269 1450</li> <li>APAC: +65 6653 1911</li> <li>Americas: +1 212 971-0630</li> </ul> <p><iframe src="https://www.youtube.com/embed/2q_lWLm5qtg?wmode=transparent" width="560" height="315"></iframe></p> tag:econsultancy.com,2008:BlogPost/69117 2017-05-30T10:17:52+01:00 2017-05-30T10:17:52+01:00 Three digital challenges facing technology organisations Nikki Gilliland <p>Based on a sample of over 900 respondents working in the technology sector, the report investigates how committed tech organisations are to digital transformation, as well as how this impacts their wider customer experience strategy. </p> <p>Despite a digital-first approach – with increasing competition and shifting customer expectations – the sector is still facing some key challenges.</p> <p>Here are a few charts from the report to explain further, which subscribers can <a href="https://econsultancy.com/reports/digital-intelligence-briefing-2017-digital-trends-in-technology/" target="_blank">download in full here</a>.</p> <h3>Ensuring a consistent CX</h3> <p>81% of technology respondents agree that their organisation has a ‘cross-team approach with the customer at the heart of all initiatives’.</p> <p><img src="https://assets.econsultancy.com/images/0008/6359/Figure_2.JPG" alt="" width="780" height="559"></p> <p>Despite this, the real challenge lies in ensuring a consistent CX across the board. After all, the ‘customer’ could refer to anyone from an individual buying a single product to a large corporation implementing enterprise tech. </p> <p>So how can organisations diversify and personalise their product offering to suit individual customers?</p> <p>Many tech companies appear to be focusing on digital content in order to do so, with 56% planning to increase their budgets for content marketing in 2017.</p> <h3>The need for expertise and skills</h3> <p>Almost three quarters of tech respondents think that optimising the customer journey across multiple platforms will be ‘very important’ for their digital marketing over the next few years. This is especially the case for those who claim to be ‘digital-first’, with 82% citing its importance compared to 71% of the rest.</p> <p>Naturally, the biggest obstacle for implementing this is the expertise and skills required.</p> <p>It <em>is</em> becoming a growing priority, however, with the proportion of respondents saying they have ‘the people they need to engineer good customer experiences’ increasing by 9% in the last two years.</p> <p>Meanwhile, 90% of digital-first organisations already have the necessary skills in place, and 16% are more likely to consider training as ‘very important’ in the near future – which is especially encouraging considering the rate of innovation within the sector.</p> <p><img src="https://assets.econsultancy.com/images/0008/6360/Figure_4.JPG" alt="" width="780" height="575"></p> <h3>Investing wisely in a new wave of innovation </h3> <p>While 29% of respondents plan to use product or service innovation to differentiate themselves from competitors – compared to just 26% for customer experience – digital-first organisations have a different perspective.</p> <p>The survey found that digital-first organisations are 52% more likely than the rest to see customer experience as a key differentiator – which can be interpreted as a reflection of their digital maturity.  </p> <p><img src="https://assets.econsultancy.com/images/0008/6361/Figure_5.JPG" alt="" width="780" height="596"></p> <p>Unsurprisingly, the technology sector looks set to be the first industry to truly take advantage of innovation, being three times as likely as others to see artificial intelligence, virtual reality, and the IoT as exciting prospects in the next few years to come.</p> <p>Integration of this technology is dependent on budget, of course. But while large corporations will be better equipped to invest, the opportunity for smaller businesses could lie in collaborating with others to test whether or not these technologies will truly benefit the customer.</p> <p><img src="https://assets.econsultancy.com/images/0008/6365/Figure_6.JPG" alt="" width="780" height="592"></p> <p><em><strong>Download the full <a href="https://econsultancy.com/reports/digital-intelligence-briefing-2017-digital-trends-in-technology/" target="_blank">2017 Digital Trends in the Technology Sector Report</a>.</strong></em></p> tag:econsultancy.com,2008:BlogPost/68996 2017-04-13T15:22:31+01:00 2017-04-13T15:22:31+01:00 10 cracking digital marketing stats from this week Nikki Gilliland <h3>28% of marketers still feeling unprepared for the GDPR</h3> <p>With just over a year until the GDPR comes into force, a <a href="https://dma.org.uk/infographic/infographic-b2b-marketing-and-the-gdpr" target="_blank">new infographic</a> from the DMA shows that many marketers are failing to prepare.</p> <p>While general awareness of the GDPR is up, 28% of B2B marketers still feeling unprepared – down just 2% from previous figures. Only two-thirds of survey respondents said their business would be GDPR compliant in time for 2018.</p> <p>In terms of the causes of concern, 37% of marketers said profiling, while 50% said it was legacy data. The biggest was by far consent, with 70% agreeing that it would change under the GDPR.</p> <p><img src="https://assets.econsultancy.com/images/0008/5442/DMA_infographic.JPG" alt="" width="618" height="324"></p> <h3>Three fifths of marketing graduates have no knowledge of affiliate strategies</h3> <p>Affilinet has been researching how well marketing students are prepared for a career in the industry, with results showing that many are graduating with little or no knowledge of affiliate or performance-based marketing.</p> <p>In a survey, 41% of graduates said that they have studied modules related to affiliate marketing. Out of these, however, 67% stated that the information taught was ‘outdated and unhelpful’.</p> <p>52% admitted that they’d needed to teach themselves to progress in their career, with 22% learning through courses later on. The remaining 26% of marketing graduates said that they still had no knowledge of affiliate practices whatsoever.</p> <h3>Mobile drives digital ad spend past £10bn</h3> <p>According to a new report from <a href="https://iabuk.net/about/press/archive/mobile-drives-digital-ad-spend-past-10-billion-threshold" target="_blank">IAB and PwC,</a> digital advertising grew at its fastest rate for nine years in 2016, increasing 17.3% to £10.3bn.</p> <p>Mobile video is now the fastest-growing ad format, with spend on mobile video ads doubling to £693m. Consequently, it now accounts for 29% of the total growth in ad spend.</p> <p>Insight suggests that the rise reflects the increasing amount of users watching video clips on their smartphones, with two in five people reportedly saying they now watch mobile video more than they did a year ago.</p> <p><img src="https://assets.econsultancy.com/images/0008/5440/PwC_IAB.png" alt="" width="780" height="480"></p> <h3>Just 13% of employees able to name their company CMO</h3> <p>New research by eShare suggests that chief marketing officers are one of the least recognised board members, with just 13% of employees able to identify the CMO of their organisation.</p> <p>In a survey of over 1,000 UK employees, just 8% were able to identify the chairperson and 14% were able to identify the chief information officer and chief financial officer. In contrast, 36% were able to name the CEO, making this the most visible board member to UK employees.</p> <h3>66% of beauty shoppers use Instagram for inspiration</h3> <p>Facebook and Instagram has revealed how beauty shoppers are increasingly turning to social media to help inform their purchases.</p> <p>The Mobile Makeover Report states that 66% of beauty shoppers look to social media for inspiration on how to achieve their perfect look, 70% for learning make-up techniques and 62% for advice on products. </p> <p>Tutorials are among the most popular types of video, with 74% of beauty viewers watching ‘how-to’ content. You can read more about how mobile is impacting the beauty industry <a href="https://econsultancy.com/blog/68992-three-ways-mobile-is-impacting-the-beauty-industry/" target="_blank">in this article</a>. </p> <h3>41% of UK shoppers will spend more to make Easter special</h3> <p>Savvy has been exploring how consumers will spend their money over Easter, with 62% of UK shoppers planning to celebrate over the bank holiday weekend.</p> <p>In a survey, 41% of respondents said they don’t mind spending more in order to make their Easter celebrations special. That being said, shoppers will still be on the hunt for a discount, with 60% saying they already know where they’ll can find the best value Easter eggs.</p> <p>Unsurprisingly, eggs will be the most popular item to buy, followed by chocolate in general, and the ingredients for a roast dinner. </p> <p><img src="https://assets.econsultancy.com/images/0008/5441/Savvy.JPG" alt="" width="700" height="452"></p> <h3>62% of ecommerce brands don’t personalise digital experiences</h3> <p>Episerver’s <a href="http://www.episerver.com/learn/resources/research--reports/seven-digital-commerce-trends-for-retail-2017/" target="_blank">State of Digital Commerce</a> report suggests that just 38% of ecommerce brands are incorporating personalisation into their current marketing strategies. Despite 70% of companies using email marketing, only 28% are using triggered emails to re-engage non-converting customers.</p> <p>What’s more, despite the abundance of data available, 46% of marketers admit they wouldn’t be able to create an omnichannel campaign due to a lack of insight into the customer journey.</p> <h3>Paddy Power generates the most social engagements during Grand National</h3> <p>4C has analysed the level of social engagement generated from TV ads during the Grand National. Results show that Paddy Paddy stole the show, with its two ads generating 59,527 engagements from public mentions, retweets, comments and likes on social channels – double the engagement of competitors.</p> <p>SkyBet saw 16,840 engagements and Coral saw 18,733. Meanwhile, despite its close association with horse racing, William Hill saw just 2,812 over the course of the event.</p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">Looking for some guidance on how to pick the winner of the <a href="https://twitter.com/hashtag/GrandNational?src=hash">#GrandNational</a>? Watch this video to find out how the experts do it. <a href="https://t.co/27q9DPQJP0">pic.twitter.com/27q9DPQJP0</a></p> — Paddy Power (@paddypower) <a href="https://twitter.com/paddypower/status/850644686096281600">April 8, 2017</a> </blockquote> <h3>Consumers see Snapchat as a passing trend for brand communication</h3> <p>A new study by <a href="https://uk.mailjet.com/blog/guide/email-innovations-research-report/" target="_blank">Mailjet</a> has revealed that consumers are displaying a lack of faith in new platforms like Pinterest and Snapchat and their role in brand communication.</p> <p>41% of consumers believe that email is the platform most people will be using in 10 years’ time, followed by 26% of consumers saying the same for Facebook and WhatsApp. In contrast, just 11% of people are certain that Pinterest and LinkedIn will be used in a decade and only 14% are confident that Snapchat will still exist. </p> <p>Despite many brands getting involved, major updates to platforms are also going unnoticed by consumers, with just 6% of people noting Instagram’s ‘buy button’.</p> <p><img src="https://assets.econsultancy.com/images/0008/5443/Instagram_shop_now.JPG" alt="" width="680" height="452"></p> <h3>Supermarket promotions fall to lowest level in 11 years</h3> <p>According to <a href="http://www.nielsen.com/uk/en/press-room/2017/supermarket-promotions-at-lowest-level-for-11-years.html" target="_blank">Nielsen</a>, supermarket promotions have fallen to their lowest level in 11 years in the UK, with just 26% of consumer spend going towards temporary discounts or multi-buy offers in the four weeks up until 25th March 2017.</p> <p>Nielsen suggests that this is due to supermarkets becoming increasingly price competitive, turning temporary price reductions into permanent cuts as a result.</p> <p>Year-on-year supermarket sales have also fallen, with the late Easter period said to have contributed to a 2.6% decrease in the four-week period to March 25th.</p> tag:econsultancy.com,2008:BlogPost/68962 2017-04-06T11:03:00+01:00 2017-04-06T11:03:00+01:00 How HR professionals are adapting to the digital age Nikki Gilliland <p>Econsultancy’s <a href="https://econsultancy.com/reports/the-future-of-hr-in-the-digital-age/" target="_blank">Future of HR in the Digital Age</a> report delves into this topic, drawing on insight and knowledge from people within the industry as well as wider research.</p> <p>Here are a few key takeaways, highlighting how HR professionals are adapting to digital change.</p> <h3>Being proactive rather than reactive</h3> <p>While HR professionals are increasingly using data to gain a clearer picture of employees across organisations, it appears that this is still being done at quite a basic level – usually for diagnostic purposes such as measuring output. </p> <p>In future, it is predicted that data will play a more proactive role in HR practice, ultimately being used in predictive ways to develop greater understanding and impact for the HR function overall.</p> <h3>Following the focus on CX</h3> <p>The below chart shows that customer experience is still seen as the biggest opportunity for businesses – above and beyond other factors such as creating compelling content or data-driven marketing.</p> <p><img src="https://assets.econsultancy.com/images/0008/5200/CX.JPG" alt="" width="624" height="592"></p> <p>In turn, CX is also driving change in the processes, structures and practices across organisations as a whole – including HR. </p> <p>Whether it is finding ways to reinforce a collaborative culture or breaking down department barriers, the implications for HR are essentially a greater need to support cross-company collaboration and to facilitate change.</p> <h3>Improving digital literacy </h3> <p>Despite 71% of respondents in a survey saying that it is very important for business leaders to be technology-literate, just 28% said that they believe that is the case within their current organisation.</p> <p><img src="https://assets.econsultancy.com/images/0008/5201/Tech_literate.JPG" alt="" width="600" height="453"></p> <p>This is clearly one area that senior professionals need to work on, however it’s not just about improving technology knowledge in an operational sense.</p> <p>Rather, senior professionals need to understand the potential, integration and application of technologies, with the separation and clear distinction of these three contexts being key.</p> <h3>Recognising the employee experience</h3> <p>While CX is often cited as the main catalyst for <a href="https://econsultancy.com/blog/68216-six-iconic-retailers-and-their-digital-transformation-journeys/" target="_blank">digital transformation</a>, many professionals are beginning to recognise that employee engagement is also a core component.</p> <p>In other words, true transformation is about more than just technical expertise and channels, or indeed marketing and CX. It is about how organisations respond appropriately to the challenges and opportunities that the digital world creates, or in other words, how they reshape the way in which teams work, collaborate and behave. </p> <h3>Evolving leadership qualities </h3> <p>Finally, HR professionals are increasingly focusing on ‘softer skills’, with a change in the perception of leadership qualities seen overall. Rather than traditional leadership qualities such as being inspirational, highly commercial and action-oriented – skills such as adaptability, flexibility, curiosity and the ability to embrace change are growing in importance.</p> <p>Of course, a mix of both soft and traditional skills remain the ideal, with knowledge and empathetic emotional intelligence truly driving organisational change. For HR professionals, the greatest challenge remains being able to find it.</p> <p><em><strong>Related reading:</strong></em></p> <ul> <li><em><a href="https://econsultancy.com/blog/68873-what-exactly-is-company-culture-and-how-can-hr-change-it/" target="_blank">What exactly is company culture? And how can HR change it?</a></em></li> <li><a href="https://econsultancy.com/blog/67976-this-is-how-you-explain-to-hr-what-digital-means/" target="_blank"><em>This is how you explain to HR what 'digital' means</em></a></li> </ul> <p><em><strong>Econsultancy subscribers can also download the full <a href="https://econsultancy.com/reports/the-future-of-hr-in-the-digital-age/" target="_blank">Future of HR in the Digital Age</a> report.</strong></em></p>