Lorna Nightingale - 'Persona Marketing' to fuel revenue growth strategy (#ExecLN Event)
Dom grounsell -The good & bad of digital transformation (#ExecLN Event)
-
Upload
executive-leaders-network -
Category
Technology
-
view
35 -
download
0
Transcript of Dom grounsell -The good & bad of digital transformation (#ExecLN Event)
Travelex is a large & diverse global business
• Multi-channel
Retailer
• Diverse B2B Play
• 29 markets
In 2014, the business made the decision to pivot
• Consumer behaviour & tech changing market
• Rapid shift to Digital & Customer
• Embrace bold, disruptive plays
Since then, we’ve been moving through 5 stages of transformation
1. Strategy - Definition & Alignment
2. Build - Capabilities & Teams
3. Delivery – Quick Wins & MVPs
4. Growth – Drive Scale & Significance
5. Re-wire – Culture, Org & Processes
There has been a lot of good….
• New products & services launched
• New capabilities starting to bear fruit
• New ideas & perspectives
• Organisation is changing
There has also been some bad
• Building the engine while flying the plane
• Competing priorities
• Catch 22 & Chicken / Egg
• Death by interview!
That said, the hardest parts have been cultural
• Aligning old with new
• Managing expectations
• Cultural whiplash
Key learning 1… It’s all about the people…
• Got to win hearts & minds
• Get ‘most’ people on the boat
• Spot the saboteurs
• Move quickly on square pegs
Key learning 2… Communicate, communicate, communicate
• Why, What, When, How
• Storytelling
• Don’t let questions / uncertainty breed
Key learning 3… Execution beats strategy every time
• Move quickly to deliver results
• Nothing builds belief better
• Don’t try and eat the elephant in one go
Key learning 4… Be bold, ambitious & unreasonable
• Set yourself big goals
• If you’re hitting all your targets, you’re not being bold enough
• Push hard and hold a very high bar
Key learning 5… Resilience is essential
• Need to stand up in the headwinds
• Need to keep your energy high
• Need to keep everyone facing forward