Decoding Digital Week 2: Building the right digital foundations

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Decoding Digital

Week Two: Building the right digital foundations

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How to engage with us by webinar

• Chat box

• Polls

• Twitter

– We will be answering questions during the session on Twitter. Contact us directly at @Symphony3Think and/or use the hashtag #DigitalVic

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Where to contact us - #DigitalVic

• We will be answering questions every Friday via YouTube/Twitter/Google Hangouts

• Tweet us directly @symphony3think or use #digitalvic in your tweet

• Post questions on Facebook: facebook.com/symphony3think

• decodingdigital@symphony3.com

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Webinar Schedule

Week One: Digital Leadership (May 7)

Week Two: Building the right digital foundations (May 14)

Week Three: Understanding your customer (May 21)

Week Four: How to generate brand awareness and position your products and

services evaluation (May 28)

Week Five: Ecommerce – making it easy for your customers to buy online (June 4)

Week Six: How to support your customers online (June 11)

Week Seven: How to engage your customers and create loyal advocates (June 18)

Week Eight: Tying it all together – Developing your digital strategy(June 25)

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Today’s Session: Digital Foundations

Today’s focus is on setting up the right digital foundations in your business

1. Is your business model right?

2. Have you set aside a budget?

3. Do you have the right skills?

4. Standards and policies

5. Data – what can you measure?

6. Cloud technology – what is it and why you should use it?

7. Your website as the platform for your business

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What are your customer going to want in the future?

• You

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What does your business need to look like in the future?

• Key trends:

– Aging population

– NBN: High speed broadband

– Internet of things – devices

– Smart Cities

– Pop up stores/ Concept stores www.thisisstory.com

– 3D printing

– The sharing economy

– Crowd-funding

– Climate changeSources:http://www.afr.com/p/boss/the_future_what_the_experts_predict_IEZ3j6cwXzVx8cMlPjIHRJ http://www.businessinsider.com.au/predictions-for-the-future-of-retail-2014-1 http://www.globaltrends.com/monthly-briefings/60-monthly-briefings/198-10-key-trends-to-watch-for-2014-trends-1-to-5

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Question?

• What future trends will have the biggest impact on your business in the next 5 years?

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What is a business model?

Definition of a Business Model:

“A business model describes the rationale of how an organisation creates, delivers and captures value.”

Source: Business Model Generation, Osterwalder and Pigneur, Wiley 2010.

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The Business Model Canvas

• http://www.businessmodelgeneration.com/canvas

Areas of the canvas:

1. Key partners2. Key Activities3. Key Resources4. Value Propositions5. Customer

Relationships6. Channels7. Customer

Segments8. Cost Structure9. Revenue Streams

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Examples of new business models:

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We must redesign business processes

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Delivering services digitally – where can you start

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Simple on line solutions can work really well

http://digitalhume.com.au/wodonga-ski-shop-embraces-ecommerce-to-drive-new-business/

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Digital Leaders deliver additional value via digital

http://www.dirtgirlworld.com/

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Building blocks

• Budget and finance

• Skills and expertise

• Policies and procedures

• Data and information

• Tools and technologies

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Budget and resourcing

• Have you set aside a budget for digital development of your business?

• POLL: How much budget have you set aside in the next 12 months for digital development in your business?

• How can you best spend the resources you have available to you?

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Budget and resourcing

• POLL: What is your top digital priority in the next 12 months?

– Redevelop/develop my website

– Develop my social media presence

– Provide digital training for my staff

– Redesign my business model

– Start collecting and using data in my business

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Skills – what are the skills you need

• Important Digital Skills:

– Data analysis skills

– Web development skills

– Digital marketing and basic website management and editing

– Content writing skills

– SEO expertise

– Graphic/Web design skills

– Basic Video and Photo editing skills

– Online advertising skills

– Social media for business

– Outsourcing, collaboration and partnering skills

http://www.business2community.com/human-resources/10-skills-make-perfect-digital-marketing-manager-0695817#!MRj3z

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Skills – what are the skills you need

• Where are your skills gaps?

• What are the skills that you need in-house?

• What skills can you outsource?

• What skills do you need to develop?

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Can you outsource or partner?

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Skills

• POLL: Have you previously outsourced any of the following skills? (select any that apply)

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Do you have a digital advisor?

• You get financial advice from your accountant and legal advice from your lawyer.

• Should you have a digital advisor?

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Standards and Policies

• Social media policy and guidelines

• Data and Privacy policy and cookie policy

• Response guides

• Returns policy

• Records management policy

• Accessibility

• Terms of use

• http://socialmediagovernance.com/policies/

• http://www.symphony3.com/blog/social-media-guidelines-infographic

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Data

• What data do you collect in your business?

• What data do you review daily/weekly/monthly?

Types of data:

• Customer data

• Sales data

• Production data

• Web analytics data

• Social media data

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CRM – Customer Database

• You must have a customer database

• There are many options.

– Excel spreadsheet, Outlook, ACT

– Salesforce.com or Sugar CRM

– Adobe Business Catalyst, Magento, Drupal

– LinkedIn, Sproutsocial

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IT Infrastructure

What is the Cloud?

• Cloud computing is a type of computing that relies on sharing computing resources rather than having local servers or personal devices to handle applications.

• In cloud computing, the word cloud (also phrased as "the cloud") is used as a metaphor for "the Internet," so the phrase cloud computing means "a type of Internet-based computing," where different services — such as servers, storage and applications — are delivered to an organisation's computers and devices through the Internet.

http://www.webopedia.com/TERM/C/cloud_computing.html

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Benefits of the cloud for small business

Benefits of cloud for small business:

• Pay as you go – only pay for what you use

• Scalable and flexible – can grow with your business

• Available anytime, anywhere via browser on any internet connected device

• Automatically receive upgrades

• You no longer need to pay for servers, reduce onsite IT service costs substantially

Considerations:

• Buyer beware – choose recommended suppliers

• Know the costs – many services use freemium model that scales to Enterprise pricing

• Privacy and security

• Look for products that can integrate with others (part of an eco-system)

Small Business in the Cloud

yourbusinesswebsite.com

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Cloud services to consider

• XERO accounting or Saasu.com

• Google Apps – email, calendar, hangouts, documents

• Customer Relationship Management System – Salesforce, SugarCRM

• Evernote

• Dropbox or Box.com or Basecamp

• Gotomeeting.com or Skype.com or Viber (overseas)

• Shoebox

• Workflowmax,

• Paypal – for online payments

• Content Management Systems

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Your digital platform

• Your website will remain your online storefront for the foreseeable future

• It is the online destination for your customers

• You need to build your website on a content management system that matches your needs and budget

• For small businesses the following systems are popular:

– >$2000 (Low cost/free): Wordpress, Wix, Weebly, Squarespace, Shopify, Big Commerce

– $3000 - $15,000: Adobe Business Catalyst, Wordpress, Magento, Joomla

– $15000+ For more complex sites: Sitecore, Drupal, DotNetNuke

• http://www.business.vic.gov.au/marketing-sales-and-online/online-business-and-technology/setting-up-an-online-presence/questions-to-ask-my-web-developer

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Choosing your CMS

Each business is different

• Develop a functional spec for your business

• Trial various CMSs before buying

Should be self-managed:

• Editing of pages

• Ability to create forms

• Ability to sell products

• Blogs

Also consider non-technical issues

• Support community around the product

• Good support people and material?

• Can your provider become a trusted adviser to your business on digital?

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Follow-up Resources

1. Social Media Guide

2. Your Digital Foundation Audit

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Conclusion

1. What future trend will have the biggest impact on your business?

2. Do you need to change your business model?

3. What processes can you put online that will improve your profitability?

4. Consider the digital skills you need and how you will acquire those skills?

5. Do you have the right policies and procedures in place?

6. How are you going to collect and use data?

7. Consider your current IT infrastructure:

1. What cloud solutions would suit your business

2. Do you have a content management system? Is it suitable for your business?

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Have your say

Tweet your questions with the hashtag: #DigitalVic

Tweet us at @Symphony3Think

Contact us at: https://www.facebook.com/Symphony3

Snapchat us at: Symphony3Think

Email us at: decodingdigital@symphony3.com

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Weekly Q&A

Every Friday 12:30 – 1pm

YouTube / Google Hangout Q&A session

Stream Live from the Business Victoria website!

Send us your questions before Friday to have them answered!

Tweet your questions with the hashtag: #DigitalVic

Tweet us: @Symphony3Think

Facebook us: https://www.facebook.com/Symphony3

Snapchat us at: Symphony3Think

Email us : decodingdigital@symphony3.com