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Transformation in Digital Marketing

Clare Elliott, 21st September 2016

Derrick Mabbott, is an experienced marketing and strategy director with a long track record of delivering complex digital transformation projects in the financial services sector. So he knows better than most the sorts of challenges and issues that business leaders in that sector face when they embark on change and transformation.

Determining what ‘digital transformation’ actually means is a fundamental part of the process, he says, because it can mean different things to different organisations. Is it about customer acquisition, about mining customer data for new insights, or about online delivery and fulfilment? Or is it simply about improving the customer experience – using online channels to deliver a better service? It’s easy to get excited about the potential of new technology, but there’s no point delivering lots of digital content if it has no practical, substantive benefits to customers.

It’s vital, he argues, to resist the temptation to get caught up in ‘E-hype’. The digital economy is changing the ways that organisations do business, but the laws of physics have not changed. Businesses still compete by understanding their customers, delivering what they want better than the competition and doing so profitably. And that should always be the starting point for any transformation program – how do we create competitive advantage? Where do we have points of parity with our competitors and where can we find the points of differentiation that mean customers will chose us rather than someone else? If you are not clear about these strategic priorities, then you risk being one of those companies dissatisfied with what digital transformation does for you.

So any conversation about digital strategy needs to bear in mind the fundamental goal: how does this help me to drive greater competitive advantage? If someone can’t answer that, it ought to ring big alarm bells that they don’t really know what they’re doing. It’s no good having a great grasp of the latest trends in digital marketing or technology if you don’t understand the fundamentals of what a business does and how it does it. The game of managing your customer experience and your brand reputation has been going on for decades.

Too many transformation programs lose sight of what it was they were trying to achieve. So its critical for executives to step away from the minutiae and the jargon and focus on the strategic agenda – and that’s why judgement and experience probably play a greater role now than ever before.

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Contact Us

To discuss how WBMS can help your business deliver your customer agenda, contact Clare Elliott at clare.elliott@WBMSglobal.com or +44 20 7621 3573 to arrange an introduction.


 

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