Digital Transformation assessment helps to streamline the Acquisition process leading to 14% growth
Like in many of our assignments, the problem was clear but the underlying cause was not. The Customer found it increasingly difficult to obtain and retain new customers for the range of digital products. While the problem was clear, the solution to the problem was expressed but not always understood by all involved. So what do you do? Execute based on an unclear mission or try and get a better version of the truth and in doing so, create more value for the Customer.
The customer in this case is a well-known brand name right across the globe but operates independently within each country.
Data Trust Associates approach to such challenges is to provide quick insights within the first days to show that the nature of the problem will not be solved by purchasing new/more Prospect lists or buying the latest predictive analytics tools to solve a problem. We were fortunate enough to work with senior management and convince them rather quickly that:
- the core issues would need to be identified and agreed upon by Board of Management
- that a plan is required to implement the quick wins and build a coalition of the willing (John Kotter)
- and that ownership of processes and data would be needed
With this understanding in place, we embarked in a short 360° Digital Transformation assessment to pinpoint the real causes and to get to know the capabilities of the organization and its readiness for Change. The conclusion of this assessment and assignment after just 4 months led to:
- A common understanding within the whole organization of the problem relating to acquiring and retaining new Customers
- A pragmatic solution to the problem using the available resources
- A Road map to address the As-Is and the To-Be situation highlighting the quick-wins
- Identification of the key Value Streams and related processes
- Identification of a Data Governance operating model to support the company in becoming a data driven company
- Implementation of Quick wins to improve the Customer Acquisition rates
While many of the steps outlined are not rocket science, courage is necessary to push the change through in a convincing and human manner. Luckily, we did persevere as those changes met all expectations and now the customer is working on implementing the next steps.
increase in Acquisition rate after 3 months
reduction in manual administration through process automation
improvement in data quality by implementing data enrichment techniques.