Return on mobile: Capturing the value beneath the surface

Mobile ROI is more than a cool app

Mobile has become pervasive in society, accounting for an ever-increasing number of both personal and commercial interactions. Yet, even for its meteoric growth – there are now more mobile devices in the world than people – the vast potential of mobile is mostly untapped. While the benefits of mobile are indisputable, organizations still struggle with capturing its full value. And even the most successful endeavors fall short of established goals more than half the time. However, by strategically aligning initiatives, securing C-suite support, managing certain components of the mobile portfolio internally and striking a balance between commercial-off-the-shelf (COTS) and custom applications, organizations can learn to tap into the vast unrealized value of mobile.

Executive summary

The return on investment (ROI) for mobile currently accounts for only a fraction of what is possible. Like an iceberg—the small, visible tip hiding a veritable mountain of ice below the waterline—mobile has as its potential untold millions of dollars of untapped value. Today, some progressive mobile organizations are beginning to recognize the opportunities available and are moving aggressively to launch new platforms, products and services to take advantage. However, even the most insightful companies often develop and release mobile offerings on an ad-hoc basis, instead of as part of highly coordinated strategic initiatives designed to foster consistent, long-term customer value and business growth.

This executive report, based on surveys of more than 1,000 Global C-suite and mobile executives from 18 industries, will explore the vast opportunities hidden from view—the mountain of the iceberg beneath the surface. Further, we will show how different groups of organizations—Growers, Opportunists and Experimenters—approach ROI. Finally, we will use the best practices of the most successful organizations in our study, as well as insights gained from analysis of responses to questions in our interviews, to provide a path forward for those organizations wishing to explore new opportunities for greater ROI on mobile.

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Source: IBM Institute for Business Value; July 2016

The experience revolution: Mobilizing to win – are you ready?

Customer experience – an elite sport

Technology has always enabled companies to reinvent how they engage with customers. But now we are seeing a profound shift – the convergence of physical and digital customer interactions – which is fundamentally changing how customers will interact and transact with brands and businesses everywhere. To better understand these dynamics, the IBV is conducting a Customer Experience (CX) study, published as a series, with multiple reports organized by topic.

This second report in the series looks at how organizations are mobilizing to transform their CX. In today’s digital world, companies can maintain an intimate relationship with their customers and continually enhance experiences in ways that are affordable and immediate. We reveal how organizations approach CX ownership, strategy, cross-functional collaboration, use of data, use of Experience Design methods and customer feedback to enhance and measure CX. We also uncover the capability gaps that challenge some companies and provide a set of recommendations organizations can adopt to accelerate a CX-centric approach that is applicable today and can scale into the future.

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Source: IBM Institute for Business Value; Aug 2016

The CEO Guide to Customer Experience

Companies that create exceptional customer experiences can set themselves apart from their competitors.

What do my customers want? The savviest executives are asking this question more frequently than ever, and rightly so. Leading companies understand that they are in the customer-experience business, and they understand that how an organization delivers for customers is beginning to be as important as what it delivers.

This CEO guide taps the expertise of McKinsey and other experts to explore the fundamentals of customer interaction, as well as the steps necessary to redesign the business in a more customer-centric fashion and to organize it for optimal business outcomes. For a quick look at how to improve the customer experience, see the summary infographic on the following page.

Armed with advanced analytics, customer-experience leaders gain rapid insights to build customer loyalty, make employees happier, achieve revenue gains of 5 to 10 percent, and reduce costs by 15 to 25 percent within two or three years. But it takes patience and guts to train an organization to see the world through the customer’s eyes and to redesign functions to create value in a customer-centric way. The management task begins with considering the customer—not the organization—at the centre of the exercise.

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Source: McKinsey Quarterly; Aug 2016

Creating content for Millennials: The VICE Playbook

Summary:-

This article provides advice from VICE Media, the digital and media publisher, on how brands can create content that engages millennials across digital, social media and television.

  • VICE’s millennial readers read the most content between 2pm and 6pm when they are supposed to be working, and spend more than 11 hours every day consuming content across multiple devices.
  • Authenticity and transparency are defining virtues of the millennial set when it comes to content – brands should have a genuine point of view that they can “own” for a long period of time.
  • The internet and social media has prompted an evolution in how young people define themselves, from “simple paradigms” to complex personas with a lot of different facets, and they expect the same multi-dimensionality from brands.
  • Marketers don’t necessarily think about whether consumers want to hear from brands on a particular topic at a particular moment, they focus on the ‘brand need’, insert their brand into conversations, and lose focus of ‘audience necessity’.

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Source: Event Reports, Mumbrella360, June 2016