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W2 & W3. Digital Leadership Framework, Prepared by: Sang Hua The…
W2 & W3. Digital Leadership Framework
Reimagine your BUSINESS
(The core Essence of Business)
BUSINESS SCOPE
(What do firms need to do to stay within the core competencies and stay competitive in the digital age?)
The Company Business
The business of Amazon
Competitive Advantage
2 potential strategies:
Cheaper
&
Different
Strong competitive advantage comes from
complementary
products
&
network effects
Platform connects buyers and sellers (
Direct network effect
&
Indirect network effect
)
Case study: Amazon's competitive advantage
Data & Customers
Focus > < Scope
BUSINESS MODEL
(What are the recent innovations in business models, and best practices across industries?)
Transform business model
(Create => Deliver => Capture => Defend)
Build an asset-light business
Transition to product-as-a-service
Demand-based economy
PLATFORMS & ECOSYSTEMS
(How can company manage a platform, and an ecosystem of players?)
Platform
Advantages
Developing a platform business
E.g.,
Ecosystem
Evaluate your VALUE CHAIN
R&D
(What are the new innovation models?)
Innovation Models
Producer-led/ company-led innovation model
User-led innovation model
Open innovation
OPERATIONAL EXCELLENCE
(What are the new technologies that drive operational excellence?)
Technology for Operational Excellence
OMNICHANNEL STRATEGY
(How to create an omnichannel strategy that synthesizes online and offline channels?)
Are Channels Substitutes?
Physical & Digital Diffusion
Reconnect with your CUSTOMERS
ACQUIRING
(How digital technology has opened new channels for customer acquisition?)
Customer Profitability
Implementation Challenges
Customer Acquisition Cost (CAC)
Moments of Truth (MoT)
ZMOT
FMOT
SMOT
TMOT
Paid - Owned - Earned
Personalisation & Retargeting
Social Media & Virality
Freemium strategy
(Pros & Cons)
ENGAGING
(Examine new ways to provide unique value to customers)
Right message - Right customer - Right time
Moment-based marketing
Micro-moments
MEASURING & OPTIMISING SPENDING
(What are the role of digital technology in making advertising more measurable and accountable?)
Social influence/Social contagion
Attribution Models:
Last interaction
First interaction
Linear
Time decay
Position-based
Regression-based
Experiment-based
Online - Offline interaction
Rebuild your ORGANISATION
TRANSITION
(Manage digital transition in a large organisation)
Digital transition
Impact of internal operation
Case study: Adobe
ORGANISATION DESIGN
(Finding a way to design an organisation for innovation)
Case study: Mastercard
SKILLS
(Moving to a more data-driven and less subjective approach to talent management)
Skills & Capabilities
Big data
Pattern recognition
Artificial intelligence
Machine learning
Impact of automation
Talent Management
Recruiting
Training & development
Performance evaluation
Talent retention
Required Reading '
The Dividends of Digital Marketing Maturity'
Prepared by: Sang Hua
The content is taken from the lecture slides of MKTG1420, Sem1/2021.
Data
Dashboard case study:
https://www.qlik.com/us/-/media/files/resource-library/global-us/register/ebooks/eb-how-to-design-best-in-class-dashboards-en.pdf