Mastering the Digital Innovation Challenge

In 2010, a small group of managers at the automaker Volvo Car Corp. assembled to craft a vision for the future involving wirelessly connected cars. They recognized that the company needed to renew its innovation capability to compete more effectively in an increasingly digital environment.

Many incumbent businesses share similar questions to those Volvo Cars faced in 2010. A recent report by MIT Sloan Management Review and Deloitte found that nearly 90% of managers surveyed report that their industry is likely to be disrupted by digital technologies, yet less than half report that their company is doing enough to prepare for this disruption. Our four-year research project at Volvo Cars offers insights into a challenge that established companies must master — and competing concerns that they must balance — as they pursue digital innovations. (Detailed findings from our research were published in the March 2017 issue of the journal MIS Quarterly. See “Related Research.”)

Source: Mastering the Digital Innovation Challenge

Advertisements

Key #CX charts from Adobe’s #Digital Trends 2017 Report

Last year, the Adobe Digital Trends report showed data-driven marketing to be the top priority for marketers, with 90% of survey respondents citing it as their number one choice. Fast forward to 2017 and the tables have turned. Read more…

Source: Four key CX charts from our Digital Trends 2017 Report

Drive revenue with great customer experience – Forrester 2017 analysis will help you make the case for CX investments

331e1a58-87ed-4397-827c-c81f4bac171d-large

If you are like other CX pros, at some point in your CX career you’ll encounter the “money question.”

Your CEO will ask you: “What’s an improvement in our customers’ experience worth in dollars and cents?” And it’s likely that you won’t have a (good enough) answer. I say that because I know that 50% of CX pros we surveyed have not modeled how CX quality influences customer behavior.

We know great CX drives revenue.

But to make the case, you need a more nuanced and sophisticated understanding. So we used data from our Customer Experience Index (CX Index™) and modeled the revenue impact of improving CX.

To do that, we asked three questions:

What is a customer’s loyalty (retention, enrichment and advocacy) worth in revenue dollars?

Is there a relationship between CX quality and loyalty-based revenue?

How does the relationship between CX and revenue potential differ by industry?

Read all at (report only after paywall) Drive revenue with great customer experience – Our 2017 analysis will help you make the case for CX investments | Forrester Blogs

Come play with us – the Tesco Service Design playbook | Roman Schöneboom | Pulse | LinkedIn

“bridging complexity fast I am very proud that the Tesco Service Design playbook was launched officially (internal for now).

The team and I created this resource over the last months to be a useful reference and guide for project teams while they work through a typical project.

The playbook is written from the perspective of teams doing service design projects.

The content is based on actual use of plays – this means: sharing what we learned from using and testing these tools in customer-facing research and design projects.

I hope the playbook can be used to support training and to make people comfortable in using service design techniques when they do their own projects. While the main target audience is teams in research and design, all the tools and plays are produced so they’re easily accessible to people who aren’t researchers or designers by trade.

The playbook is currently made up of 22 plays. There will be more added every fortnight.Teams may find that they are using similar tools in their own work already and that this is a natural extension of their current skills. They may also find new areas of personal growth—new skills and the excitement of being involved in service innovation”

Source: Come play with us – the Tesco Service Design playbook | Roman Schöneboom | Pulse | LinkedIn

Andrew White: #McKinsey Seeks to Have It’s Cake and Eat Yours at the Same Time? #strategy

tumblr_okq8j39nrm1s2tva9o1_500

“I really enjoyed reading a recent article on “strategy” from McKinsey Global Institute.

The article was, “Discussion on digital: How strategy is evolving- and staying the same – in hypergrowth digital age“.

I read the article and surmised that most of what I read was common knowledge, at least around these parts, and pretty consistent with many conversations we have with clients in the area of data and analytics strategy.

Here is my summary of the article, in my words:

3 year strategy is OK but such a strategy is not the same old strategy that you used to know

Strategy needs to live and breathe and not be an annual offsite – some call this “execution is the new strategy” though “think big, act small” works just as fine

Strategy is not only kept in the board room – it needs to connect and thus be visible and understood at operational and tactical levels of the business (e.g. all) in different ways and levels of granularity”

Read more: McKinsey Seeks to Have It’s Cake and Eat Yours at the Same Time? – Andrew White