This document outlines 4 key actions for driving digital transformation: 1) Know your customer by understanding their behaviors, preferences, and needs across different digital platforms and devices. 2) Lead with data by using customer data and analytics to test strategies, measure outcomes, and continuously improve. 3) Test and learn through staged market tests, A/B testing, and continuous learning from results. 4) Master accountability by establishing clear roles and responsibilities, and decision-making processes to enable rapid testing and learning. Taking these actions can help organizations capture market share and revenue growth through customer-centric digital transformation.
26. • “You’re not losing placement on one site;
you’re gaining placement on a dozen more”
• Defined potential lost revenue to each hotel
• Rolled out with only four brands
• Reported incremental hotel results monthly
• Additional brands asked us to enlist in
program
28. “Swing for Fences” or “Slow and Steady”?
• Staged sequence of market tests
for client
• Holdback and A/B tests on
marketing messages
• Averaged 1.6% increase monthly
• 83% revenue increase over three
years
• 22% CAGR
Image source: http://www.usmc.mil/marinelink/image1.nsf/ae82f18a8e1b160b852568ba007e7e5e/afd408b3a327a3d4852570850054af5b/$FILE/02padres01.jpg
29. Not “Big Data.” Your data.
• Know your
customer
• Competitive
differentiator
• Scale when ready
Showed this slide to my daughter. She said, “I recognize that sound. I’ve seen old movies.”
Source of Schwab financial returns:
The Charles Schwab Corporation
http://mail1.actionenvelope.com/about/overview/history.html
History of The Charles Schwab Corporation – FundingUniverse
http://www.fundinguniverse.com/company-histories/the-charles-schwab-corporation-history/
How We’re Different
http://www.schwab.com/public/schwab/investing/why_choose_schwab/how_were_different
History Timeline | About Schwab
http://aboutschwab.com/about/history
05/25/19 REMAKING SCHWAB
http://www.businessweek.com/1998/21/b3579181.htm
The bull has an identity crisis - Forbes
http://www.forbes.com/forbes/1999/0405/6307108a.html
Crossing the Digital Divide: A Transition Baedeker
http://www.strategy-business.com/article/10516?gko=1341b
Get Into E-Commerce Without Betting The Store
http://www.journalofaccountancy.com/Issues/1999/May/piturro.htm
Merrill Lynch to offer online trading | ZDNet
http://www.zdnet.com/article/merrill-lynch-to-offer-online-trading/