Stuart Ross - Using technology to facilitate growth
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Gaining competitive advantage through technology
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Stuart Ross - Using technology to facilitate growth
- 1. Using technology to facilitate growth
- 2. Introducing Stuart Ross ● Started life as an actor ● 18 years retail, 8 years scale up ○ Brought Wok to the UK ○ Launched created the number UK 1 retail website ○ Introduced the meal deal ○ Received marketer of the year award in Japan ● Worked directly with >400 high growth organisations ● Hallam Managing Director
- 3. Hallam’s mission To help businesses and brands thrive in a world where success has a digital pulse
- 4. Most recommended digital agency 2018 Winners of The Drum Grand Prix Best Overall National Agency 2018 - 40-99 staff Best for Search Best for Usability Best for Client service Best for Digital full service
- 5. Agenda ● Framework to scale your business ● At what stages of growth to introduce technology ● How to introduce technology whilst keeping your team engaged ● Lessons learned….
- 6. How do you scale your company? Sales Delivery Finance MarketingManagement Offer People Leadership Team Strategy Implementation Vision Prove Grow Achieve
- 8. If the rate of change on the outside exceeds the rate of change on the inside, the end is near - Jack Welch
- 9. Technology Individuals Businesses 1970s 1980s 1990s 2000s 2010s Today Rateof Change What is really happening
- 10. What is going to have the greatest impact of your business over the next 12 months?
- 11. All businesses are being impacted by digital The challenges adapting to today’s operating environment: ● Rapid and disruptive technology innovation ● Dramatic increase in expectations by customers and the marketplace ● Gap between digital high performers and laggards faster than ever before ● New business models blurring industry boundaries
- 16. Valley of Death
- 21. Fundamentals based around 4 areas Finance Marketing/ Sales Operations People
- 22. Upgrading and consolidating systems HR system CRM system Accounts system OM/PM system
- 24. Differentiators strategy driven by…. Business model Market changes New technologies Resources
- 25. Differentiators strategy driven by…. Business model
- 26. USP Enhancing: Understand your Business Model IKEA Business Model
- 27. Prioritise technology to support strategic themes IKEA Business Model
- 28. Hallam Business Model Top of mind Customer Intimacy Best People Best Results
- 30. Differentiators strategy driven by…. New technologies
- 32. Differentiators strategy driven by…. Market changes
- 33. Full Customer Journey Marketing Automation Personalisation 2019 Marketing Drivers
- 34. Differentiators strategy driven by…. Resources
- 35. Questions ● What works? ● What is the objective? ● How does it improve customer satisfaction and intimacy? ● What technology is already in place? ● What skills are in place? ● What is the budget? ● How will we measure success?
- 36. In new areas, a different approach is required…. Company Outsource Strategy Skills Technology
- 38. 77% of change initiatives fail….(HBR) Historically the adoption of emerging tech has left a wake of failed efforts...ERP, CRM, etc
- 39. Follow a change process Ending ● Understand the change ● Recognise reality ● Expect strong reactions ● Be open ● Keep information flowing Neutral ● Keep demands reasonable ● Be prepared to scrap old rules ● Communicate, communicate, communicate ● Work with concise goals/steps New beginning ● Purpose, picture, plan, part ● Communicate quick wins ● Throw a success party Source: William Bridges
- 40. It takes leadership to overcome the barriers to digital implementation 39% No sense of urgency 33% Not enough funding 30% Roles and responsibilities not clear 28% 27% Unclear business case 19% Culture non amenable to change Lack of vision 16% Lack of leadership skills Source: MIT Digital Transformation Survey
- 41. The majority of challenges are people issues ● Lack of skills ● Don’t have time ● Lack of curiosity in new ideas ● Insular management culture ● Dislike of technology ● Lack of empathy ● Not invented here ● Lack of humility ● Commitment Source: Change agents worldwide
- 42. It is not about technology, it’s about people
- 43. Key enablers of digital change ● Continuous learning ● Rapid experimentation ● Tolerance for ‘eccentric behaviour’ ● Digital native thinking ● High EQ ● Comfort with uncertainty ● Unwavering support from leadership ● Data driven
- 45. We need a model that will move as fast as digital change
- 46. Could I ask a favour? @hallamagency #hallamagency
- 48. Lesson: Avoid Shiny toy syndrome
- 49. Lesson: What are you going to STOP doing?
- 50. Lesson: To stay ahead requires a different level of thinking
- 51. Lesson: Pace any major technology implementation
- 52. Lesson: Engage the wider team as part of the process What Who When/ Where How
- 53. Lesson: First 60 days is critical
- 54. Lesson: Make change/ technology adoption a culturally the norm ● Collaborate to Create ● Stay Curious ● Trusted to Deliver ● Just Take Action ● Respectful and Respected We are relentlessly curious about our clients, their business and the possibilities for marketing in a digital world. We support a culture of exploration and learning and challenge ourselves and our clients to ask “why?” and “why not?”
- 55. Lesson: Results will take longer that expected
- 56. Lesson: Your plan will change!
Notes de l'éditeur
- Question Approach 10x marketing - for Hallam and clients - and we work with clients to define and implement their martech stack Going back to fundamentals - use offline and online thinking How work with clients to build a martech stack
- 60+ experts, 19 years, 65% average lead gen increase, 200+ clients - such as Speedo, Raleigh, United Nations I joined
- Framework Tools
- 56% underway, 15% investigating, 7% improving
- The digital winners must adapt in all new way The current lifespan of a FTSE100 company is 15 years and falling.
- Sales per employee
- they focused on changing the mindset of its members as well as the organizational culture and processes before they decide what digital tools to use and how to use them. What the members envision to be the future of the organization drove the technology, not the other way around.
- Figure out your business strategy before you invest in anything
- Journey - every touchpoint Automation - machine learning - Predict what person will do through which channel and when Personalisation - sophisticated - trade relevancy vs loss of privacy Martech viewpoint - this is where we are investing time/resource in learning/innovation
- Time lag Skills required will change
- Digital change programs that use traditional adoption approaches usually do not work. Most digital change programs are project driven and in today;s world outdated before being fully implemented Traditional change programs are staticm cascading events Trtaditional adoption processes are technology centric while digital adoption requires a human centric lens - we must find a different way of driving change.
- Recognize employees’ fear of being replaced. When employees perceive that digital transformation could threaten their jobs, they may consciously or unconsciously resist the changes. If the digital transformation then turns out to be ineffective, management will eventually abandon the effort and their jobs will be saved (or so the thinking goes). It is critical for leaders to recognize those fears and to emphasize that the digital transformation process is an opportunity for employees to upgrade their expertise to suit the marketplace of the future.
- The problem comes down to human capital strategies: How businesses organise, manage, develop and align people at work to deliver successful customer and employee experiences
- Digital transformation beyond technology: the human differentiator To understand digital transformation, it’s key to put people and processes above technology, even if technology is a change agent – or at least the ways we use it to evolve, innovate, adapt and “pro-dapt”. Digital transformation is about using digital technologies to improve (and connect and often radically change) processes, enhance customer experiences, focus on the area where business and customer value meet and seeing new and better possibilities , while using different and digital-intensive ways to realize them. However, this so-called digital culture is not the start or essence of digital transformation. Digital transformation is also about responding to the changes that digital technologies have caused – and will continue to cause – in our daily lives, individual businesses and organizations, industries and various segments of society. These changes are obviously not brought upon us by the technologies themselves. The human dimension is not just an important focus of digital transformation, it’s a catalyst whereby the ways we use and see digital technologies can have very unexpected consequences, regardless of whether it concerns consumer/customer behavior or the innovative capacity of disruptive companies (nearly always a mix), in the end also people. In the end, the mindset, let alone somewhat vague term ‘culture’, and approach we need is one of continuous optimization, holistic improvement and a focus on what people need, far beyond the digital context.
- • Business impact. Any investment in technology must be outcome-driven. It may seem appealing to go for the solution with the most bells and whistles or the solution built on whatever tech trend is currently “en vogue.” The reality is that every organization has different needs to fill with digital transformation, and if a certain technology doesn’t directly link back to business goals or added client value, it’s ultimately a failure. That is why it is imperative that business goals be clearly defined first and only then followed by the technology that will help an organization reach those goals. Too often, companies invest in a technology and then retrofit goals to accommodate and justify their investment, when it should really be the other way around.
- Leverage insiders: Organizations that seek transformations (digital and otherwise) frequently bring in an army of outside consultants who tend to apply one-size-fits-all solutions in the name of “best practices.” Our approach to transforming our respective organizations is to rely instead on insiders — staff who have intimate knowledge about what works and what doesn’t in their daily operations. Upskill and inject new talent: Skills required: data science skills (data management, analytics, big data) an innovative mindset security and privacy knowledge legal and regulatory compliance knowledge the ability to make data-driven decisions collaborative leadership
- Project fatigue/give training when required
- Champions….
- • Culture and change. An organizational culture that is flexible and open to change is one of the biggest determining factors in the success of a digital transformation initiative. This commitment to change must begin at the highest levels of leadership within an organization, or it simply will not happen. If leaders aren’t on board, you can’t expect acceptance and adoption to trickle down among employees. Because change is hard and often met with resistance, it’s important to take the time to educate and train employees on new processes and technologies to make sure they feel comfortable and confident when the time comes for deployment. Organisations with cultures that embrace change move quickly, decisively and effectively to anticipate, initiate and take advantage of opportunities, yet they remain robust enough to absorb any setbacks. Effective executive sponsors bring thorough knowledge of a project or programme and how it connects to strategy For some, it is about embracing a start-up mindset as they expand and launch projects in new sectors. For example, household appliance innovator Dyson announced a project investment to develop an electric car by 2020. Furniture manufacturer Ikea veered into the tech realm, developing software for a series of connected lighting products and launching a new augmented-reality shopping app. These innovators understand that navigating new business terrain requires them to expand their ranks of talent rapidly and recruit new types of expertise.
- Linear thinking does not prepare for exponential times
- A well-cultivated network can be hugely valuable in making decisions around digital transformation investments. CIOs should think about who they can work with or bring together, and what information might be able to be securely shared to improve the overall experience for all parties that will be impacted.
- "It takes continual investment to keep skills fresh as technology evolves and to keep digitally skilled resources satisfied."