Customer relationships and experiences are at the heart of digitally-enabled business transformation. However, according to surveys of global companies, only 5% of companies have been able to leverage digital transformation to differentiate from competition as far as customers are concerned. This means that customer-centric digital transformation (CDT), while absolutely critical to business, is still barely understood in companies.
AIM offers a comprehensive incubation program on customer-centric digital transformation targeted at senior managers with 10+ years of work experience who are likely to lead or participate in digital transformation initiatives within their company. The program is conducted in a part-time format for senior managers who are sponsored by the participant companies. It includes a mix of in-person classroom guidance, online guidance from US-based experts, customized project guidance from experts in taking a CDT project from concept to project brief, and seminars by DT practitioners on the next practices of CDT. A distinguishing feature of the CDT program is that the digitally-enabled business initiative is incubated from concept to project brief during the program by the company’s senior managers and made ready for pilot funding and implementation.
Business Needs Addressed
As part of our market research on the business needs to be addressed by the CDT incubation program, we conducted detailed interviews with the CEOs and their DT teams from over a dozen leading Indian companies. The following business needs were identified and addressed by our incubation program:
- The program should enable us to rapidly create and develop an idea for transforming our business digitally so that it is ready for approval by senior management
- The program should enable seeing digital disruption as a major business opportunity, such as a new digital business model
- The program should lead to a tangible outcome such as a project rather than just build awareness among participants
- Bridging the gap between the DT opportunity or idea and the project plan is a key business need, i.e., the execution plan needs to be a key outcome from the program
- Participants need clear project guidance in terms of milestones and project monitoring in order to be successful in the incubation program
- The program should build in-depth rather than broad skills. Transforming the customer relationship is a key priority.
- The program should enable our senior managers to interact with tech startups, DT pioneers and leaders that are doing exciting things in DT
Digital Transformation Themes Emphasized in the CDT Incubation Program
- Industry trends in digital disruption, building awareness of DT as both threat and opportunity, digital mindsets and design thinking tools to enable DT, business model innovation concepts and tools.
- Digital business strategies and models that transform the customer relationship, online/mobile/social/hybrid business models, e-commerce business models and partnership opportunities, digitizing the customer journey, understanding customer search..
- Customer touch points, online/cross-channel/mobile digital experience, streamlining customer processes and enabling omni-channel coherence, social media and content & reputation management, enabling new customer relationships and experiences.
- Developing the business case for new customer-centric digital opportunities or models, creating the project brief for piloting or scaling the opportunity, digital performance metrics and tracking.
Benefits of CDT Incubation Program
- Actionable Learning: Senior managers get an actionable understanding of how to transform the customer relationship and experience through DT and how to transition from a conventional to a digital business
- World Class Guidance: Program guidance is provided by experts educated at top US business schools who have consulted with successful digital enterprises, or have deep practitioner experience in CDT at prominent Indian or US companies
- Concept to Project Brief: Unlike programs that focus only on executive education, The DT incubation program is focused on incubating a new digital business opportunity or new digital business model by taking it from concept to project brief, with structured project management guidance from experts
- Digital Ecosystem Leverage: Through seminars, program participants learn about the next practices of customer-centric digital transformation from pioneering companies/startups that comprise the ecosystem
- C-Level Consortium: C-level executives of participating companies get educated about the business opportunities from CDT by learning from peers and DT experts at innovative companies and startups.
Contact Rama Vivek at firstname.lastname@example.org for more information on the program.
The second program cohort is scheduled for Apr 2017-Jun 2017 and will feature in-person and online expert instruction, a live company-specific project and expert guidance, and next practices seminars from leading practitioners in the field.
During Oct 2016-Jan 2017, AIM conducted the first open incubation program in customer-centric digital transformation. The participants included senior vice presidents, vice presidents, business heads, general managers, associate directors, category managers, and brand managers. Many were experts at and deeply involved in DT efforts in their area. The companies who participated in the program included Godrej Consumer Products, Nestle, PepsiCo, and United Spirits.
The incubation program included four 3-day workshops conducted in Bengaluru, Gurgaon and Goa and extensive project guidance in between.