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Article
Publication date: 3 February 2020

Saul Berman, Carolyn Heller Baird, Kevin Eagan and Anthony Marshall

A new IBM Institute for Business Value (IBV) study has now found that the appointment of a CDO–along with a robust digital transformation program–is strongly correlated…

Abstract

Purpose

A new IBM Institute for Business Value (IBV) study has now found that the appointment of a CDO–along with a robust digital transformation program–is strongly correlated with stronger corporate financial performance.

Design/methodology/approach

IBM IBV surveyed more than 1,500 business executives in 23 countries and across eighteen industries, of which 750 were CDOs. Based on our analysis, we have created a framework to determine under what circumstances it makes sense to appoint a CDO, and if a CDO is appointed, the set of CDO characteristics and responsibilities that are most likely to yield maximum business benefits and returns.

Findings

The analysis indicates top CDOs’ strongest characteristic is actually business strategy, not technology. The data indicates there is a higher positive financial impact when a CDO reports to the CIO—not when they report to a CEO

Practical implications

Top CDOs take a balanced approach toward transformation. They seem to be evolutionaries and not revolutionaries.

Originality/value

The study found that, contrary to conventional expectations, CDOs most valuable skill could well be their ability to think and act strategically.

Details

Strategy & Leadership, vol. 48 no. 2
Type: Research Article
ISSN: 1087-8572

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Article
Publication date: 4 January 2011

Carolyn Heller Baird and Cristene Gonzalez‐Wertz

The IBM Institute for Business Value recently surveyed nearly 500 customer relationship management executives – across roles, industries and management responsibilities

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5186

Abstract

Purpose

The IBM Institute for Business Value recently surveyed nearly 500 customer relationship management executives – across roles, industries and management responsibilities – in 66 countries. The goal was to assess the current state of marketing, sales and service and to document how top performers achieve customer‐focused market leadership in the emerging digital age.

Design/methodology/approach

Using the survey the paper seeks to identify the best practices of market leaders.

Findings

Analysis of the survey responses indicates that three categories of market leaders are likely to emerge by 2012: customer insight leaders – companies that optimize data analysis, transform it into something useful and create measurable value; digital channel leaders – companies that harness new methods of creating value through customer interactions and new products, services and business models in an always‐on digital world; and new era leaders – companies that incorporate the best practices of each.

Practical implications

The success of companies will depend on the degree to which they embrace new digital communications, service, marketing and delivery channels (digital channel leaders); cater to the needs and demands of a new breed of enlightened and empowered consumer (customer insight leaders) or do both (new era leaders).

Originality/value

IBM asked participants what tactics they would take to differentiate themselves in the next three years. The paper groups them into three core strategies: cost and complexity reduction, strategic service delivery and innovative market making.

Details

Strategy & Leadership, vol. 39 no. 1
Type: Research Article
ISSN: 1087-8572

Keywords

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Article
Publication date: 6 September 2011

Carolyn Heller Baird and Gautam Parasnis

The purpose of this paper is to present the augment of the authors, who are IBM consultants, that companies need to meld social media programs with customer relationship

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68020

Abstract

Purpose

The purpose of this paper is to present the augment of the authors, who are IBM consultants, that companies need to meld social media programs with customer relationship management (CRM). This new paradigm – Social CRM – recognizes that instead of just managing customers, the role of the business is to facilitate collaborative social experiences and dialogue that customers value.

Design/methodology/approach

Social media holds enormous potential for companies to get closer to customers and, by doing so, increase revenue, cost reduction and efficiencies. However, using social media as a channel for customer engagement will fail if the traditional CRM approaches are not reinvented,

Findings

According to IBM research, there is a large perception gap between what the customers seek via social media and what companies offer. Consumers are far more interested in obtaining tangible value, suggesting businesses may be confusing their own desire for customer intimacy with consumers' motivations for engaging.

Practical implications

To reinvent the company's CRM strategy it is important to recognize social media is a game changer and the customer is in control; make the customer experience seamless – across social media and other channels; start thinking like a customer – if one isn't sure what customers value, they should be asked; and monetize social media, if that is what customers want.

Originality/value

Social CRM is a new approach that recognizes consumers have strong opinions about relationships as customers being managed in a social media context and that their willingness to engage with companies should not be assumed or taken for granted.

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Abstract

Details

Strategy & Leadership, vol. 39 no. 6
Type: Research Article
ISSN: 1087-8572

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Article
Publication date: 16 March 2020

Robert M. Randall

Downloads
158

Abstract

Details

Strategy & Leadership, vol. 48 no. 2
Type: Research Article
ISSN: 1087-8572

Content available
Article
Publication date: 4 January 2011

Robert M. Randall

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440

Abstract

Details

Strategy & Leadership, vol. 39 no. 1
Type: Research Article
ISSN: 1087-8572

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Article
Publication date: 13 April 2012

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.

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4137

Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

New phenomena come and go on a frequent basis. But every now and then something with true game‐changing potential comes to the fore. The business world is rarely immune to any reverberations that ensue. Few would argue that social networking is the latest addition to this category. The unrelenting global expansion of Facebook and Twitter is testimony to that fact. User numbers for these platforms alone are now measured in hundreds of millions. As a result, massive scope exists for organizations to exploit social media as a means of productively engaging with consumers. Given the size of the captive audience, many firms have not surprisingly jumped on the social networking bandwagon. A fear of being left behind is also a motivating factor. However, simply establishing a presence on key sites provides no guarantee of success. Making it fruitful demands significant effort on a company's part, together with the realization that traditional approaches to customer relationship management (CRM) are all but redundant in this online world.

Practical implications

The paper provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to digest format.

Details

Strategic Direction, vol. 28 no. 6
Type: Research Article
ISSN: 0258-0543

Keywords

Content available
Article
Publication date: 16 March 2020

Larry Goodson

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192

Abstract

Details

Strategy & Leadership, vol. 48 no. 2
Type: Research Article
ISSN: 1087-8572

Content available
Article
Publication date: 6 September 2011

Catherine Gorrell

Downloads
680

Abstract

Details

Strategy & Leadership, vol. 39 no. 5
Type: Research Article
ISSN: 1087-8572

Content available
Article
Publication date: 8 November 2011

Catherine Gorrell

Downloads
491

Abstract

Details

Strategy & Leadership, vol. 39 no. 6
Type: Research Article
ISSN: 1087-8572

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