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How Burberry And Caesars Took Different Approaches To Dominate The Competition Online
Source: http://www.businessinsider.com/how-burberry-and-caesars-went-digital-2012-11
“It’s all very nice being a digital leader, but do you make more money?” According to a recent study from Capgemini Consulting and MIT’s Center For Digital Business, the answer is yes, to the tune of a 26 percent increase in profitability.
According to Didier Bonnet, Capgemini’s Global Practice manager, what distinguishes these companies is an intense focus on transforming in one area that they’re best at, getting it right, and then applying those lessons and data throughout the rest of the business.
These companies see digital technology as the thing that sets them apart, not just another tool. It’s not an experiment, but an intensely focused program based on getting business results.
“They were very focused to start with in their investment,” Bonnet says, “so rather than just going all over the place and investing in, you know, people, collaboration, customer experience, and operations, they had a pretty clear starting point.”
But that starting point can be very different depending on the company, as Bonnet highlighted with these two digital outperformers from the report:
Burberry: Starting with the customer
“For example, Burberry, the fashion retailer, really started with customer experience, they first tried to get their shop sorted out very well, they put screens in that connected all of the shops to the head office. From there, they moved on to slightly more sophisticated social media applications where they actually launch their collection on soc! ial medi a first before they’re at the Milan or Paris shows. From there they moved on to mobility, and now they’re right in the middle of using all of the data for analytic purposes that they’ve managed to gather from connecting their organization. But it started from the customer experience.”
Burberry took the customer experience, invested heavily, then used that data and experience across every channel. Bonnet says “it’s the difference between sticking a technology in an existing process, substitution if you will, versus really transforming the process with the power of what the technology can do.”
Caesars: Using data to make everything personal
“Caesars has really started on analytics, so they tried to really work on how to personalize the experience for the customer. Once the analytics were sorted out, they moved into mobility with location based marketing, eventually reaching a point where you can get recognized when you walk into a store and get preference based coupons and advice on what you can do in the resorts and the casinos. Now they’re moving more and more into the operations side.”
Caesars’ business encompasses shopping, restaurants, casinos, and more. Starting with data from their customers allowed them to take every other tool digital technology has to offer and use it to boost performance across all parts of the company.
Though the paths were very different, the lessons are the same.
Find the report here
NOW READ: Digitally Mature Companies Significantly Outperform Everybody Else
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The Best And Worst Industries At Going Digital
Source: http://www.businessinsider.com/these-industries-wont-touch-digital-2012-11
Whether it’s because of regulation, a conservative outlook, or simply because they don’t see the benefit, some industries have been incredibly slow to embrace the digital age.
However, even in the industries where it’s not widely adopted, making significant investments in digital technology and integrating it into an organization has a significant positive impact on the bottom line. Capgemeni Consulting estimates that ‘digital beginners,’ those companies who have barely touched digital technology are 24 percent less profitable than average.
Capgemeni’s research divides companies into four categories based on digital adoption:
“‘Beginners’ have barely started, usually because they’re unaware of the opportunities, ‘Fashionistas’ adopt the newest or sexiest digital innovations, but without a cohesive strategy or eye to maximizing business value, ‘Digital Conservatives’ have a cohesive vision, but are slow to invest in new technology, and finally, the ‘Digirati,’ who both invest in digital and integrate it with their whole organization.”
Here’s where major industries fit on the spectrum of going digital, from high technology at the top, to the pharmaceutical industry way at the bottom:
Read the full report here
NOW READ: The 10 Most Innovative Companies In The World
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‘Digitally Mature’ Companies Significantly Outperform Everyone Else
Source: http://www.businessinsider.com/digitally-mature-companies-outperform-novices-2012-11
A new report released by Capgemeni Consulting based on years of joint research with the MIT Center for Digital Business found that digitally mature companies are, on average, 26 percent more profitable, have a 12 percent higher market capitalization, and get 9 percent more revenue from current assets. The advantage is there in every industry.
‘Digital maturity’ is defined by two things. The first is digital intensity, which means significant and well thought out investment in digital technology and capabilities. The second is transformation management intensity, actually shaping the practices, governance, and future of the company around digital efforts.
The report divides companies into four different quadrants based on their performance on the above. ‘Beginners’ have barely started, usually because they’re unaware of the opportunities, ‘Fashionistas’ adopt the newest or sexiest digital innovations, but without a cohesive strategy or eye to maximizing business value, ‘Digital Conservatives’ have a cohesive vision, but are slow to invest in new technology, and finally, the ‘Digirati,’ who both invest in digital and integrate it with their whole organization.
Capgemeni’s examples of digitally mature companies include Volvo, Burberry, and Nike. They’ve succeeded by making social media and digital tools a fundamental part of the way they do business, instead of just an ongoing experiment.
The 397 global companies researched exist on a huge spe! ctrum. T he Y-axis is digital intensity, and the X-axis is transformation management intensity:
Here’s the profitability breakdown for the four quadrants:
Read the full report here
Display Media Buyers Favor Combined Contextual and Audience Targeting
94% of display media buying respondents to a Google and Forrester Consulting survey released in September 2012 currently combine contextual (i.e. targeting based on contextual category or contextual adjacency) and audience targeting. The primary reasons these respondents give for doing so are higher performance and greater accuracy than using one type of targeting alone. For […]
OMMA Social Panel – Going Beyond the “Like” Social Media Marketing
OMMA Social Panel Moderated by Augustine Fou, Chief Digital Strategist, Marketing Science Consulting Group, Inc. @acfou
Tim Fogarty, Senior Strategist, M80, a GroupM Company @n0her0es
Tom Gerace, Founder & CEO, Skyword @tomgerace
Matt Goddard, CEO, R2i @R2iMatt
Sandra Lopez, Global Marketing Strategy Director for New Business, Intel @nycsf
Samantha Skey, Chief Revenue Officer, RecycleBank @samskey7
Source: Recorded Video of Panel Discussion – http://www.ustream.tv/recorded/22604393
Surprise! Study finds internet worth a lot of money, is responsible for 4.7 percent of US economy
Source: http://www.engadget.com/2012/03/20/internet-responsible-4-7-percent-US-economy/
Ever wondered how much the interwebs contribute to the Uncle Sam’s bottom line? Thanks to the Boston Consulting Group, now you don’t have to. It’s estimated the net contributes a cool $684 billion is to the US gross domestic product. That’s roughly 4.7 percent of US GDP, the same tranche as its effect on Japan’s economy, but less than the 5.5, 7.3 and 8.3 percent clocked in by China, South Korea and the United Kingdom, respectively. And per the report, the internet is just getting started, with future growth expected to hit eight percent on average by 2016 for developed countries, and well north of 20 percent in booming economies like those of Argentina and India. Hit the source for the full report.
Surprise! Study finds internet worth a lot of money, is responsible for 4.7 percent of US economy originally appeared on Engadget on Tue, 20 Mar 2012 19:41:00 EDT. Please see our terms for use of feeds.
On your mark, get set, GOMC!
Source: http://googleblog.blogspot.com/2011/12/on-your-mark-get-set-gomc.html
Professor registration for the 2012 Google Online Marketing Challenge (GOMC) is now open.
GOMC is a global online marketing competition open to professors and their students in any higher education institution. Professors sign up for the contest and then serve as guides and mentors to their student participants throughout the competition. Over the course of three weeks, student teams are tasked with developing and running a successful online advertising campaign for real businesses or nonprofit organizations using Google AdWords. In the process, they sharpen their advertising, consulting and data analysis skills. (Note: student registration will open on January 31, 2012 and students can only enter if their professors have signed up already and must sign up under their own professors).
After running their online advertising campaign for three weeks, students summarize their experiences in campaign reports, which they submit online. Based on the performance of the campaigns and the quality of the reports, Googlers on the GOMC team and a panel of independent academics select the winning teams.
The global winners and their professor will receive a trip to Google headquarters in Mountain View, Calif. The regional winners (and their professor) will win a trip to local Google offices, and the social impact award winners will be able to make donations to nonprofit organizations that were part of the GOMC competition.
Last year’s challenge had 50,000 participants representing 100 countries, and this year we expect even more. For more information, visit www.google.com/onlinechallenge. Professors, here is a chance to help your students sharpen their marketing skills and make a global impact!
Posted by AJ Pascua, GOMC Team
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Digital Strategist
online reputation management for brands — see “digital footprint score”
Social Media Strategist
ClickZ articles by Augustine Fou, PhD
Dr. Augustine Fou is Group Chief Digital Officer of Omnicom’s Healthcare Consultancy Group. He has nearly 15 years of digital strategy consulting experience and is an expert in data mining, analytics, and consumer insights research, with specific knowledge in the consumer payments, packaged goods, food/beverage, retail/apparel, and healthcare sectors.
Dr. Fou has provided strategic counsel on the use and integration of online marketing to clients such as AT&T, IBM, Intel, ExxonMobil, MasterCard, Unilever, Pepsi, DrPepper, Frito Lay, Taco Bell. KFC. Atari, Conde Nast, Hachette Filipacchi, Victoria’s Secret, Liz Claiborne, and others. He has served as expert witness on online payments for the Federal Reserve Bank of New York, and advised government agencies such as the Norwegian Trade Counsel, the Gouvernement du Quebec, Invest in Sweden Agency, and the Canadian Consulate.
Dr. Fou is an Adjunct Professor at New York University in the Integrated Marketing Department of the School for Continuing and Professional Studies. He also writes a monthly column for ClickZ’s Experts Columns on Integrated Marketing and is a frequent speaker and panelist at online and advertising industry conferences.
He started his career with McKinsey & Company and recently served as SVP, Digital Lead at McCann/MRM Worldwide. Dr. Fou completed his PhD at MIT at the age of 23 in the Department of Materials Science and Chemical Engineering.
Recent articles by Augustine Fou
The 22 Immutable Laws of Marketing No Longer Apply, Part 3
Debunking the laws of singularity, unpredictability, success, failure, hype, acceleration, and resources. Last in a three part (3 comments) Apr 1, 2010
The 22 Immutable Laws of Marketing No Longer Apply, Part 2
Why the laws of duality, the opposite, and others no longer hold true. Second in a three-part (1 comments) Mar 4, 2010
The 22 Immutable Laws of Marketing No Longer Apply
The game has changed as the balance of power shifts away from advertisers to the very people they used to target. First in a three part (14 comments) Feb 4, 2010
10 Commandments of Modern Marketing
A list of the 10 rules every marketer should follow to meet consumer needs in (18 comments) Jan 7, 2010
Is Believing in Behavioral Targeting Like Believing in Santa?
Should we have grown out of our naïve belief in behavioral (25 comments) Dec 17, 2009
What’s Wrong With the Net Promoter Score
Three reasons why the Net Promoter score is a waste of (19 comments) Nov 19, 2009
How to Do Social Marketing in Heavily Regulated Industries
Financial services, pharmaceutical, and healthcare are ripe for social marketing. Here’s (11 comments) Oct 22, 2009
A New Definition of ‘Digital’
Defining ‘digital’ as the collection of habits and expectations of today’s consumers — and what that means to (7 comments) Sep 24, 2009
Metrics, Metrics Everywhere
Thanks to social networks and digital tools, metrics can provide relevant marketing research in real time and reveal new business (3 comments) Aug 27, 2009
Branding Today: Why It’s Ineffective, Irrelevant, Irritating, and Impotent
Brands must act on real-time consumer feedback to continuously develop awesome (51 comments) Jul 31, 2009
Advertising Does Not Create Demand, But…
It may help fulfill demand. Understand the (18 comments) Jul 2, 2009
Consumers Have Changed, So Should Advertisers
Five ways that consumers have irreversibly altered their expectations online and (7 comments) Jun 4, 2009
Social Media Benchmarks: Realities and Myths
Benchmarks to avoid and others to embrace. (5 comments) May 7, 2009
The ROI for Social Media Is Zero
If social marketing’s done right, the potential ROI could be infinite. Five tips to get you (51 comments) Apr 9, 2009
How to Use Search to Calculate the ROI of Awareness Advertising
Planning an awareness campaign in TV or other media? Advertisers can now correlate money spent on that campaign to a lift in sales — and estimate the return on (4 comments) Mar 12, 2009
Social Intensity: A New Measure for Campaign Success?
A look at two metrics that online marketers should pay attention to today. And they are not frequency and (4 comments) Feb 11, 2009
Beyond Targeting in the Age of the Modern Consumer
Three tips for using “missing link” marketing to solve targeting’s Jan 15, 2009
Experiential Marketing
Consumers are savvy and informed; they won’t just take your word on a product. Experiencing the product is more important than (1 comments) Dec 18, 2008
Search Improves All Marketing Aspects
Search is much more than just an opportunity for marketers to push out another Nov 20, 2008
Social Commerce: In Friends We Trust
How to integrate social networks into your marketing (1 comments) Nov 6, 2008
Please Euthanize This Big Boy Already – How Lack of Innovation Killed Another Giant
Not only did the shift towards digital communication cause a continuing decline in revenues, the lack of innovation caused the U.S. Postal Service to fall far behind able competitors like FedEx, UPS, etc. (lowering prices is not innovation; and delivering 3 days a week is not innovation either.) We are at a point now where if the USPS disappeared, consumers will shift their remaining habits towards digital and existing delivery competitors will (gladly) absorb the incremental business (because they already work the routes anyway, and can even lower prices due to extra volume).
Source: http://bit.ly/9RHDtQ (BusinessWeek)
March 4 (Bloomberg) — The U.S. Postal Service, facing a $238 billion budget deficit by 2020, should consider cutting delivery to as few as three days a week as the agency attempts to pare costs, a consulting firm said.
Those cuts are among changes McKinsey & Co. presented in a report this week at a postal conference in Washington. Options also included expanding business lines and restructuring retiree health benefits.
Digital Consigliere
Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.
http://twitter.com/acfou
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