DIGITAL PROGRAM TURNAROUND
A global retailer, with fledgling store and online sales, faced a brutal truth: The company was falling behind in market share, they needed to accelerate growth, and they were stuck for over 2 years, trying to launch a complex digital program...
SETTING THE STAGE...
No progress equated to declining revenue and morale. They were part of the 75% of transformations that fail. The leadership team couldn’t get to the finish line because they couldn’t find the starting line. They had no clear path, so their digital transformation was doomed for failure before it even began. They needed fresh perspective immediately to get back in the game or lose critical market share.
“Roger,” the growth-minded CEO of this enterprise service retail company, recognized the need for change. He hired Reach to get the company back on track--to reboot the problematic digital transformation effort in which they had already invested millions of dollars. We partnered with the Client to turn around their digital program immediately to drive top-line growth. What they couldn’t accomplish in 2+ years, we were able to help them achieve in just 9 months.
HOW WE SOLVED IT...
A critical element of this transformation was Reach’s ability to immediately infuse our pool of talent into the program to coach the Client with our methodology for sustainable growth and to help them succeed. We mobilized human resources across the board—teams from Reach, from the Client, and from third party consultants hired previously. This effort included 120+ resources onsite, nearshore, and offshore. We also led the creation of a new, collaborative culture to force out the old, siloed behavior and innovation paralysis that plagued the organization.
Together with the Client, we built a new tech stack to support revenue growth (both online and in store), led a website redesign to enhance CX, built sustainable systems to drive a faster go-to-market strategy and optimized organizational effectiveness through technology and change management.
The lives and livelihoods of their stakeholders were depending on it.
Realizing that their company was losing their ability to grow without a massive capital infusion, the CEO for a healthcare provider in the senior living space reached out for help. They needed a new strategic plan to get out of their current state and launch into their future. They needed a growth strategy...
SETTING THE STAGE...
Healthcare is in crisis, and it started before the COVID pandemic. With antiquated systems and operations, and oftentimes a fixed leadership mindset, healthcare struggles to embrace technology and seize growth opportunities.
Senior Living facilities are an especially vulnerable segment of the healthcare industry and need to accelerate their digital transformation (DX). Perhaps even further behind than hospitals and other care facilities, senior living organizations must now pivot quickly to respond to their patients’ needs and their board’s expectations for transformation.
As CEO, "Anna" sees the writing on the wall: The pandemic disruption brought with it unexpected cost structures that will only continue to accelerate if Management doesn’t identify their problem and solve for it, quickly—for the short term and for the longer term. At the current pace, the company is running out of cash. The old way of growing by erecting more buildings isn’t going to solve their real problem.
The CEO and her company know this, but they don’t know how to change.
HOW WE SOLVED IT...
Reach partnered with the company to help them transform. Working collaboratively with the CEO, Executive Team and Board, Reach built a new vision for the future, the long-range strategies to get them to that vision, their investment thesis, roadmap and organization redesign. Today, Reach continues to work closely with the CEO, Executive Team, and Board. Reach leads the Transformation Office, guiding their implementation, continually focusing on accelerating results while prioritizing positive impact to the resident experience.
As CEO, Anna knew she needed a trusted and objective partner, an outside source, to help her get the company and her team on track for growth. What Anna appreciates most is that she works directly with our own CEO to create a new vision and strategic plan. Having regular, respectfully direct strategic conversations CEO to CEO gives Anna the crucial confidence that the big change that needs to occur is actually possible to achieve.
We prioritize clarity of vision, strategic plan alignment, and a roadmap, so CEOs, like Anna and her team, can see immediate impact on revenue and growth. We help the people and the organization transform at the same time. One doesn’t happen without the other. This client is making big moves with their culture, leadership team, investment focus, and business model. The results are beginning to be realized as positive, early indicators of improvements in revenue & cash flow.
QUICK WINS TO
ACCELERATE REVENUE GROWTH
SETTING THE STAGE...
A traditional retailer in the B2C home products space needed an experienced strategic partner to pull them into the digital future. They needed to accelerate revenue growth and improve customer experience. This retailer’s CEO, “Dan”, had a long history in retail and knew the company needed to accelerate growth and uncover cost efficiencies in order to survive. Culturally, they were resistant to change, but the pandemic made it clear they needed to pivot quickly. They fell into the statistic that Forrester reported in their 2021 Predictions that, until 2020, only 15% of companies prioritized digital transformation. In 2021, Forrester predicted that every company will be prioritize technology investment.
This retailer was losing critical share in a market that was actually growing. Their Board of Directors was putting on the pressure to make swift changes that would drive results.
The CEO sought to look at all areas of their business to determine how to improve digital CX and the in-store customer experience. We broke the project into 2 phases to focus on immediate wins, freeing up the product, improving the ecommerce experience, enhancing digital marketing efforts, and building customer trust.
HOW WE SOLVED IT
Reach worked with the CEO and his team to create a sustainable strategy for how the company can drive revenue growth. In an effort to determine the strengths and weaknesses of their current state, Reach uncovered the need for our Client to attract and engage with an important customer segment they were ignoring. Digital enablement for mobile-first technology solutions needed to play a prominent role in their customer experience (CX) and transformation efforts.
In order to move the cogs in the wheel, everyone needed to collaborate and work together and celebrate the small, incremental wins. It has been siloed for so long that the teams needed our help building internal relationships and trust in order to succeed at the overall digital transformation.
What’s making this transformation work? The CEO and his leadership team were ready and willing to move swiftly to gain some momentum and drive revenue. They were willing to take an honest look at where they were falling short in the customer experience journey and do something about it, quickly. We are working together to clarify the Client’s competitive differentiation and position in the market, adding customer data analytics to drive the new growth strategy.
INFUSING TALENT TO DRIVE GROWTH
SETTING THE STAGE...
A widening leadership gap exists in corporations, and businesses are suffering due to lack of key leadership. A 2020 Harvard Business Review report highlights the urgency of closing the leadership gap that the pandemic has created. This talent gap is affecting the day-to-day profitability and long-term growth of businesses globally.
The problem is not as much about the dwindling numbers of executive roles, as it is about the lack of appropriate leadership to tackle true transformation and accelerate growth. Companies need to be able to do more with fewer resources. Therefore, companies must identify their most critical leadership gaps if they are going to compete and succeed in a post-pandemic business world.
“Sarah,” CEO of a non-profit consumer product organization, had a critical gap in her leadership team. The pandemic brought urgency to the need to fill the role in order to save the business. Sarah needed an executive on her team in order to pivot the organization. Timing was critical. They were losing market share and needed to swiftly shift their focus on how to drive immediate and sustainable growth. Competitors were more nimble and able to pivot more quickly, so Sarah and her team had to respond with strategy and decisiveness or face unrecoverable market share and revenue loss.
As the CEO, Sarah faced a key question: What kind of leader would this CEO need for the future? There was uncertainty as to what kind of technology leader would best occupy that seat. Sarah came to Reach Partners for direct, respectful guidance and an interim CXO. Our CEO worked directly with this CEO Client to determine growth opportunities and priorities. Knowing the problem that needed to be solved, Reach helped Sarah discern the role and qualifications of the leader that would help them transform their business.
HOW WE SOLVED IT...
Our team swiftly and effectively landed a key leader (and their team) into a leadership seat to hit the ground running without losing time. Reach placed an interim CIO to get Sarah’s company from Point A to Point B. Our experienced CIO has a 20+ year career of transforming companies, so she was able to jump right in to get this transformation in motion. We helped Sarah, the CEO, see that her leadership gap was costing her time and money that she didn’t have to lose.
Since infusing this key leader where there was once a gap, the Client is able to move with the speed and agility in the direction of change and revenue growth. They are seeing momentum in market share and growth, along with positive shift in their corporate culture and morale.
The right leadership talent is crucial to creating a vision, strategy and roadmap for success. Even the greatest CEOs will fail if their leadership team doesn’t contain the right humans for the job. Most of our Clients struggle with the same reality—in order to drive revenue growth, you need to have the right talent at the table.
What gaps do you have in your organization? What is it costing you in terms of lost time and revenue? Might an interim executive assist you in driving growth?
If you need an objective, outside perspective that’s respectfully direct, with in-the-C-suite-seat experience to back it up, we can help. Our CEO, Ashlee Aldridge, spent 20+ years as a C-suite Executive for publicly held, and private, large global and also has big Firm consulting experience. Our Client Delivery Executives have also held C-suite positions, so we know what you’re going through because we’ve been there and had to work through it ourselves. We look forward to starting a conversation about how you can drive growth in the areas of your business that need it most.
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