The proportion of our client’s sales generated from digital channels was lagging behind best practice and competitors. The Australian telco had a pressing need to lift digital sales, and understand how to take advantage of changes in consumer behaviour towards cross channel purchasing.
Venture’s primary objective was to increase digital sales to meet a stretch goal, within 12 months and without any additional investment. Specifically we needed to identify the long term strategy required to make a greater stepped change in digital performance and lay the groundwork for omni-channel transformation.
The Venture team reviewed the external landscape and provided clear evidence of the shift in consumer behaviour towards digital and cross channel purchasing.
We conducted a detailed diagnostic of our client’s current online purchase process to identify key leakage points and to prioritise where to focus efforts to improve sales.
We also mapped their online purchase process against that of key competitors to benchmark performance and confirm priority areas to improve.
Drawing upon our expertise in online retail best practice, we recommended specific and measurable initiatives to increase sales. These initiatives focused on enhancing the online user experience and optimising the marketing spend allocated to driving site traffic.
The projected impact of our recommendations was modelled to provide clear guidance on the metrics that would be required to move to increase sales by c. 3x.
We also identified the longer term strategic initiatives required to move towards an omni-channel operating model. This included identifying key actions and high level costs for backend infrastructure changes and recommending how to organise internally to boost digital capabilities.
All recommendations were presented to the CEO and Executive Team.