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TRANSFORMATION FROM
B2C LEADERS
By Claude Czechowski, Guillaume Combastet, and Antoine Gourevitch
Agile methods have been implemented 20 80 Agile methods are not standard
Recruitment plan for digital talents Plans for digital talent recruitment are not
are in place 15 85 in place
0 20 40 60 80 100
Sources: Interviews with 70 digital leaders and C-suite executives of B2C companies; BCG analysis.
out legal protections, these companies are Data Explosion. The increasing volume
being forced to adapt rapidly. In response, and diversity of data generated through
most incumbents now regularly scan the digital channels are providing compa-
horizon for new technologies and patents nies with valuable market insights that
to acquire attackers before they become too inform real-time, data-driven decision
dangerous. Unilevers $1 billion acquisition making and improve customer targeting.
of Dollar Shave Club offers a striking exam-
ple of this strategy in action. Legal Factors. In some sectors, laws and
regulations constrain incumbents by
In all sectors, the pressure to digitally trans- lowering competitive barriers for new
form the business is only getting more in- entrants. Conversely, laws and regula-
tense owing to five trends: tions that deter new entrants can protect
incumbents. New laws can also provide
Evolving Customer Behaviors. Digital a strong incentive for innovation. In the
newcomers are transforming customers automotive industry, for example, height-
expectations. Users want a simple, fast, ened emissions standards have support-
user-friendly digital experience in all of ed greater investment in fuel-efficient
their online transactions, but most say hybrid or electric vehicles.
that they are dissatisfied with their
online experiences. Companies need to Pricing. Many startups are focused
reinvent their customer engagement above all on moving quickly to gain
model to allow seamless switching market share, not turn a profit, which
between channels, mobile-friendly can put significant pressure on incum-
services, and first-time fixes (with no bents margins. In this environment, its
handoffs). more important than ever for compa-
nies to reduce costs, improve efficiency,
Technological Leaps. Increased and explore new ways of generating
connectivity and mobility, cloud-based revenue.
services, artificial intelligence, and the
Internet of Things are helping compa- With so many factors in play, companies
nies improve efficiency in almost every need to set a bold course toward digital
aspect of the business, including digital transformation. Some have already begun
marketing, manufacturing, R&D, and to do so: more than 70% of the executives
supply chain. we surveyed said that they have named a
Banking
Travel
Intense
Hospitality
Insurance
Pressure from new entrants
Media
Retail
Automotive
Telco
Consumer
packaged
goods
Luxury Energy
Emerging
Early Ongoing
Stages of digital transformation
chief digital officer who stays alert to dis- from multiple sources into a single reposi-
ruptive threats and opportunities and tory, and they can model the data so that it
drives a digital-first agenda. More than 60% supports decision making, research, and
have launched a startup incubator, and innovation.
45% have invested in new ventures. Never-
theless, more remains to be done. Companies also need to hire the right tal-
ent, such as data scientists, to gain an edge
in analytics and create tangible value for
Where Companies Need to Be the business. For example, AXA Equitable
To capture the full value of digital, compa- Financial Services, the multinational insur-
nies need to advance five fundamental ance firm, hired approximately 60 data sci-
strategies. entists to fuel data-driven innovation and
respond to requests from affiliates. They
Harness the power of data. With an are supported by data specialists in charge
endless stream of data flowing from of embedding culture throughout the com-
smartphone apps, website browsing, social pany to ensure that data is being mined
media messages, and customer transac- across business units.
tions of all kinds, companies have enor-
mous opportunities to harness the power Redefine the customer journey. The
of big data. But this data needs to be stored customer journey is more complex than
and managed in such a way that it yields ever. Todays consumers have become
accurate predictive modeling and meaning- accustomed to 24-7 availability and seam-
ful customer insights. Enterprise data less interactions across platforms and
warehouses, commonly called data lakes, devices, and they have very limited toler-
can be used to store and structure data ance for service delays and handoffs. To
Guillaume Combastet is a project leader in the firms Paris office and a core member of BCGs Technol-
ogy Advantage practice. You may contact him by e-mail at combastet.guillaume@bcg.com.
Antoine Gourevitch is a senior partner and managing director in the firms Paris office. You may contact
him by e-mail at gourevitch.antoine@bcg.com.
The Boston Consulting Group (BCG) is a global management consulting firm and the worlds leading advi-
sor on business strategy. We partner with clients from the private, public, and not-for-profit sectors in all
regions to identify their highest-value opportunities, address their most critical challenges, and transform
their enterprises. Our customized approach combines deep insight into the dynamics of companies and
markets with close collaboration at all levels of the client organization. This ensures that our clients
achieve sustainable competitive advantage, build more capable organizations, and secure lasting results.
Founded in 1963, BCG is a private company with 85 offices in 48 countries. For more information, please
visit bcg.com.