Slides from a client presentation given recently to a group of finance executives, outlining how to think about digital strategy and its relevance to their business. Works for just about any service industry in terms of thinking about digital strategy.

1. Digital Strategy
Building the Foundation for
Business Success

3. Strategy is about defining your future

4. Company
Customer
What is digital strategy?
Integrate digital
into all you do Integrate all you
do into digital

5. Strategy: A working definition
“Being strategic means
consistently making the
core directional choices
that will best move you
toward your hoped-for
future.” – Erika Anderson,
Being Strategic

6. • According to Ernst & Young, only
25% of American consumers say
brands influence their purchase
decision
• Just 12 months later, nearly half of
those who claimed to be “highly
brand loyal” weren’t (NPD)
• 80% of customers check reviews
before purchasing (NPD)

7. “Your margin is my
opportunity.” –
Jeff Bezos, CEO, Amazon

8. Disruption &
Disinter-
mediation

9. WSJ: “...as many as one-third of
the nation's [bank] branches now
may be unprofitable”
© 2015 - Tim Peter & Associates

10. Strategy Framework
Where
are you
now?
Where do
you want
to go?
What are
the
“walls” in
your way?
How will
you get
where
you want
to go?

11. 4 “P”s of marketing + 1

12. Content is,
was, and
always shall
be king

13. Context is Queen
• Segment customer behaviors
by context (screen, channel,
location)
• Observe, measure, and learn
your customer’s pain points in
each
• Improve by aligning customer
experience with context

14. Data is the Crown Jewels
• Must be willing to start small – but
you must start
• Anticipate, analyze, and adapt to
changing customer needs
• Protect the crown jewels: Privacy
and security matter; protect guest
information like the business
depends on it

15. Customer first drives business value

16. Start asking the right questions—be a reporter
• Who is contacting us?
• What are they contacting us about?
• Why are they contacting us?
• When are they contacting us?
• Where are they contacting us from?
• How are they contacting us?
1616

17. Look to personas to understand who you’re
trying to reach – why they care
17

18. Driven not by “Big Data.” But your data.
• Know your customer
• Competitive differentiator
• Scale when ready

19. Know yourself: Play to your strengths

20. Radical
Transparency

21. Attributes of digital that make this true
• The bad news: “Dis-
integration”
– Everything becomes digital
– “Software eats the world” –
Marc Andreessen
• The good news: Dynamically
assemble value chains

22. We must be ruthless about differentiation
•What is your company truly better at?
22

23. Use customer chatter to improve products,
services and brand image

25. Where do you want to go?
• Raise your brand’s profile
• Grow membership
• Grow use among members
• Improve customer service
• Reduce cost of customer
service
• Reduce cost of customer
acquisition
• Improve profitability

26. What haven’t we talked about yet?

27. Because channels come last

28. Seek channels that connect you to customers profitably
• Do they help you gain new
customers or new data?
• Do they reach a customer
you can’t reach on your
own?
• Do they provide access to
a higher-value customer?

29. Working together for the
customer

30. Company
Customer
Digital strategy
Integrate digital
into all you do Integrate all you
do into digital

31. Strategy Framework
Where
are you
now?
Where do
you want
to go?
What are
the
“walls” in
your way?
How will
you get
where
you want
to go?

32. Questions?
Web: timpeter.com
Phone: 201-305-0055
E-mail: tim@timpeter.com
Twitter: twitter.com/tcpeter