Digital Transformation for Management Consultants

Here I will show you what to do if a blurry image appears.

Here I will show you how to find additional resources attached to the course like Excel files, presentations, links, etc.

We will start by looking and the essential concepts and the general framework that you can use to define the strategy of digitalization. This will help you define your next steps.

Let’s have a look at the general framework for digital transformation. We will look at 4 different areas that will help us define the potential options.

As we have mentioned, in many cases, digitalization will mean using many useful tools. We will try to group them to show you what tools you can consider.

Different firms stop at different levels of digitalization. This will heavily depend on the industry as well as their preferences. Bear in mind that different firms stop at different levels of digitalization. This will heavily depend on the industry as well as their preferences.

Digitalization has many advantages. Let’s briefly discuss the main ones.

Digital products, help firms scale businesses and stay relevant. In this section, we will see how you can explore this direction of digitalization.

Another way to innovate is to turn a physical product into a digital one. In this way, you can increase the value of the customer and reach new customers. Let’s look at some examples

Many firms that sell physical products have created a digital component that doesn’t replace the product but makes it more useful. We can distinguish 2 types of digital components: free and paid components

Some firms combine physical products with services that are quite often delivered by other firms. This enables them to improve customer experience and increase profits. This drive toward services started before the era of digitalization as a way to boost very low margins. Already GE in the 80s has been heavily using this approach.

Imagine that you are working for a producer of domestic appliances. The firm considers adding digital services to its products. Analyze whether it makes sense or not.

In this lecture, we will solve the previously introduced case study.

More and more SMCG businesses are considering switching from just selling the product and losing track of the customer to selling service which usually, helps you increase your link with your customer base and earn more at the same time

Here we will introduce the case study of a smartphone producer who wants to switch from selling the product to selling the service. We will try to estimate and compare both options and see what makes more sense.

The development of new solutions in digital technologies allows companies to quickly reach new customers. In this section, we will discuss how to digitize your sales and marketing.

More and more firms will move a bigger chunk of their sales to the so-called digital channels. We will look broadly at this category of channels.

Let’s look at the main groups of digital marketing methods. We have divided the methods into 3 main groups: Own, Earned, and Bought.

In this lecture, we will compare freemium, free, and free trial options.

In many cases, firms use the so-called freemium model to attract a big number of new customers and let them use part of their product for free.

Free trial is another way to help attract quite a lot of customers by providing an opportunity for the customer to try the product for free and see whether it’s something from him.

Surprisingly, a lot of businesses can thrive despite offering their products for free. Let’s see how it is possible.

Imagine that you have to decide what kind of model to pick for the SaaS business: Freemium, Free, Free Trial. In this case study, you will have to decide when each and every tactic makes sense.

Here I will show you some examples of SaaS business models using often freemium, free, and free trials.

Here I show you how to analyze the profitability of sales channels in Consulting

Here we show to analyze the profitability of sales channels

Here we analyze the situation for cases when you are selling smaller services i.e.per hour consultation on SEO tactics

Firms devote a lot of attention to the digitalization of processes. This enables them to save a lot of money, move faster and provide a better customer experience.

Digitalization can affect different stages of the process. Let’s define the general stages and have a look at some examples.

Imagine that you were asked to digitalize the process of selling insurance. Currently, the process is time-consuming and far from the best practices.

Imagine that you were hired by a chain of restaurants that wants to digitalize the process of ordering food by the customer.

Imagine that you were hired to increase the capacity of the Customer Service Department in a Fashion Retailer without increasing the number of people.

In this lecture, I will show you the solution to the previously introduced case study.

In more and more cases you have to find ways to replace or support people with machines to lower production costs

Offices are perfect places for automation. Let’s see what you can automate and how you can do that in the office.

Imagine that you are working for a ceramic tiles producer that has 10 factories in Eastern Europe

You can have a much simpler and more efficient business if you transfer costs to your customers. The customer quite often does not notice or does not mind the additional effort.

You can also transfer some of your costs to your suppliers. In this way, you can get higher margins or concentrate on more valuable activities.

As e-commerce has been a significant distribution channel traditional retailers were forced to transform into multichannel players (operating both in traditional stores, the offline world as well as online business). Here I will show you the main challenges and how to tackle them.

Let’s have a look at the main problems with multichannel.

Imagine that you have a chain of physical stores and an online store. What pricing would you use? How you would come up with the right pricing?

In this lecture, I show you the solution to the case you had to solve in the previous lecture

When you start building more stores you are bound to cause a lot of cannibalization. I will show you in this lecture how to approach this subject.

When you start building an online presence you are bound to cause a lot of cannibalization. I will show you in this lecture how to approach this subject.

Let’s have a look at an example of cannibalization

Now let’s look at some case studies that will show you the bigger picture of digital transformations. We will look at 3 different industries: healthcare, retail, restaurants, and hotels.

Due to shortages of labor and high labor costs, more and more firms resort to wide-scale digitalization and automation in the hotel industry. Let’s look at the main areas of digitalization.

Retail is being pressured by the online world to drastically change. Digitalization has played a huge role in their attempts to recapture the attention of customers. Let’s look at the main areas of digitalization.

Healthcare is struggling to meet the rising demand. Digitalization is perceived as a way to help increase the supply of healthcare services. Let’s look at the main areas of digitalization.

Let’s imagine that you want to build an automated parcel locker network that will enable people to pick up goods that they have ordered online.