A New Role to Lead Digital Business Transformation

Corporate change isn't a new thing. Businesses have always had to assess, re-think and re-invent themselves as the world changes around them.

In the past this was a lot easier though. Organisation had years (or sometimes decades) to change their ways. But more recently the cycles of technical innovation have increased, which means the speed of digital change is much quicker. In fact, those in market sectors which were first to be affected by online (e.g. Retail and Travel) had longer to transform their businesses than those being disrupted now - such as Financial Services and some parts of the Transport industry.

So how are some businesses dealing with Digital Transformation & change and how are they setting themselves up to understand and embrace the effects?

1. Create a Chief Digital Office role
Whilst just creating and hiring another senior role in the business might not be everyone's cup of tea, a fair number of organisations have hired (or promoted from within) a CDO to lead up their digital change.

2. Use a Digital-based Non-Exec Director
Although similar to taking on a CDO, a digital-centric NED provides their experience and skills to guide a company board. This role is usually filled by a new Non-Exec Director who has previously had a senior role in digital transforming another business. 

3. Creating a Director of Change

Whilst not exactly a direct comparison to either a Chief Digital Officer or a Digital-based Non-Exec Director role, some company's decide to wrap up their adoption of online tools and processes in a more general senior change position

4. Alternatively they could hire an agency / consultancy.... and most large & well-respected management consultancies are unsurprisingly only too keen to state how they've always been involved in digital transformation and have all the answers....

5 questions to ask your new SEO agency

So let's imagine you've recently hired a new search engine optimisation agency to improve your organic position in the popular search engines.

Before you actually engage with them, here are a few important questions you should ask:

1. Does the SEO agency understand my business?
Or again more specifically, do the people actually working on my account understand what my organisation does, its products or services and what it's unique proposition or selling point is?
There will almost certainly be some initial familiarisation with your offering or processes, but first check that this agency gets what you do and has a firm understanding of who your competitors are.
Note: The counter to this issue however is when you hire an SEO agency that knows your industry very well and already has a number of your competitors as clients in this market sector... are they really able to provide you with a unique and perhaps innovative approach to on-page and off-site optimisation?

2. How much of my monthly retainer is for actual work?
Or more specifically, how much of what you pay for is agency 'padding' in the form of 'Project Management', 'Account Management' or even worse... 'Administration & Reporting'?
(Note, most SEO tools these days have quite decent automated reporting functions. So sending out a regular report is just a case of configuring the reporting service once).
In one situation I saw last year, where my agency won the SEO business, The outgoing agency managed to fill over 60% of its monthly SEO retainer with non-specialist staff. Nice work if you can get it....

3. Who is actually doing the work?
It's a pretty good bet that you had a smart(ish) new business person put together the proposal that you accepted. Or if the agency is a smaller one, then it may well be the owner or other senior person that wrote the document that won them the work. But will this person be the one actually working on your account day-to-day or will it be a junior person they may not even have mentioned in their credentials? My guess is that in most SEO agencies it will be the latter that does the hard graft most of the time (not the 'Head of Search' or 'Head of SEM Services' you were promised)
Note: If it is someone you never get to speak to, then reconsider hiring them. And if it's 'someone in their [not this country] office' then get concerned quickly, really quick....

4. What tools & techniques do you use?
Some SEO agencies like to keep the tools and techniques they use a secret to their clients. I guess they feel it adds an air of mystery to the complex art of search engine optimisation. As far as tools go, there are a few good ones out there that the majority of agencies use for most of their clients. Also make sure that you are not being charged extra for these tools, the costs for them should be included in your retainer.
Note: Some of these tools use propriety indexing technology to work, whereas others need to link to your own site's Webmaster Tools accounts. Neither is wrong, but be prepared to grant them access in the same sort of ways you've granted them access to your website analytics package.
As for the techniques used... you should have full transparency about what they are doing and the rationale for doing it. However, if they mention the act of buying links... run a mile!

5. What do you want me to do next?
Getting started with a new agency is usually a process of learning, testing, evaluating and refining. Expect the agency to ask to speak with other stakeholders or 3rd parties in your business (e.g. PR company, website development agency and product / catalogue managers if you have an eCommerce site). Having an SEO firm that is not just technically competent, but has decent organisational skills can be a rare find. Also make sure that you have regular review sessions booked in the diaries. Even if these are done over the phone / Skype or webex... your business, the competition and most definitely the search engines change all the time.

GAP PPC misses important sale figure

Imagine the situation.  You're managing the PPC digital marketing campaign for your global retail client. However they haven't yet told you the specific discount they are applying at the post - Christmas Sale.

So you stick a couple of x's in for the meantime, with the intention of putting the real figure in later.

Oops.

Think Search Engine Optimisation is easy?

We often get new digital marketing clients come to us after hearing a lot of inaccuracies (or just plain lies) from others, so I thought it best to set down a points about SEO that might come as a surprise to those looking to hire a decent search engine optimisation company:

1. The improved placement of your site in search engines can’t be guaranteed. There are certain SEO things within our control such as on-site content, the code of your website and some in-bound links (e.g. from partners, etc.). But there is a lot beyond our control, such as how the search engines index & display sites, plus what the competition does… all of which may affect the positions of your site in the organic search engine result s (SERPs)
2. Reputable SEO agencies should not use any underhand or short-term 'black hat' SEO activity to gain an improvement, no matter how tempting this may be to the agency or the client. There's no instant way to get a significant lift in your site rankings without a lot of hard & genuine work. So don’t keep asking us to do it, or we will resign the account.
3. We are (to a certain extent) at the mercy of your web development agency to make code & configuration changes for the benefit of SEO. By the way, if that’s also us, then don’t worry. Your web developers may have their own opinions on what is good for SEO, we may have another...  we’re not saying we’re always right, but we may have the bigger perspective here.
4. SEO & PR now have to work together to be truly successful. We’ll therefore need access to either your in-house PR person or your PR agency. If you don’t have either then we can still do loads of great stuff, but our link-building activity may take longer.
5. We can't optimise your site without content... decent, credible, interesting, readable and shareable content. If you have no intention of producing it yourself, then we can suggest people for this job. But if you don’t want to use them… then the scope of how we can optimise your site is then limited.

In short, I don’t think Search Engine Optimisation is easy, although the positives of working in such an interesting and dynamic industry more than makes up for this.

Still segmenting financial products by life stage?

Back about a decade ago I used to work for a digital agency and we had one of the UK’s largest Financial Services as our client. Life was fun and the projects were interesting, for example we developed sites for acquiring new student accounts, we created digital marketing campaigns for first-time mortgage products and we built content-rich portals for customers of added-value current accounts.

Throughout all of this, we focused on targeting prospects according to their life stage. This followed the typical life stage breakdown of:

• Going to university (student account)
• First job (graduate or regular current account)
• Wedding / First house (mortgage, home insurance)

Other products, such as savings, loans and insurances were usually either seen as more opportunistic (e.g. Going on holiday? = holiday insurance or travel money) or obvious up-sells and cross-sells (e.g. Got a mortgage with us? = we think you’ll need contents insurance)

However this segmentation, aided by the banding potential customers by age (e.g. Ignore if under 17, try and grab customers aged 18 – 21, market the heck out of those who are under 50 with money) always seemed fairly rudimentary to me.

Now several years on and with more life experience under my belt, I see that these basic categories and product segments are less and less relevant. Why is this then? Well...

1. The customer is more demanding
They now require financial products based around them and not just any old thing that their existing FS company wants to tout. However most typical products offered still don’t provide the flexibility that the modern informed buyer wants (e.g. Could I find an offset mortgage when I recently went looking for one? Nope!)

2. Life has changed
Society is more diverse and multi-cultural, consumer choice has fragmented and so have the niches that went with this. Therefore the life stage someone is at is no longer as predictable an indicator of the propensity to buy a financial product as it once was. Nowadays a person of 55 and 25 could have the same requirements in cars or property (and therefore the insurances needed to cover both), just as they could also have in music, clothes and food.

3. Trust in finance by younger people has crumbled
Just in the same way as you once would have advised a smart young city-dweller to work in a bank but now wouldn’t so much (for fear of getting a slap), trust in products such as savings and pensions has been eroded... leading a lot of the millennial generation to ignore traditional financial institutions and use alternatives (from the ‘bank of mum & dad and beyond)

In short, people and their finance needs have evolved and fragmented over the last decade, with the impact that the old models used are not the new models now needed.

How they should now segment is perhaps the subject of a different post...