Biz Tips: Q&A with Digital Transformation Experts: Liz Jensen from Visa

Biz Tips: Q&A with Digital Transformation Experts: Liz Jensen from Visa

Biz Tip:

Q&A with Digital Transformation Experts: Liz Jensen from Visa

As a business concept, we’ve talked about digital transformation for the better part of a decade. But in 2020, digital transformation as we know it barreled ahead at a dizzying pace—causing product and marketing teams to make fast, learn-as-you-go decisions impacting billions of dollars. Due to stay-at-home orders enacted across the globe in response to COVID-19, the mobile channel has seen particularly extreme changes in how companies leverage it to support their broader business goals.

To explore what’s changed and what’s next for the future of digital transformation, with an emphasis on the mobile channel, we talked with some of the best minds in digital product management and mobile marketing. We’re excited to share their thoughts on what’s top-of-mind, how to overcome obstacles, where the marketplace is going, and tips for success.

Today, we’re excited to bring you thoughts from Liz Jensen, Senior Product Manager at Visa. Liz has deep experience in fintech product development. Prior to her time in fintech, she founded two connected car startups focused on car app development and the future of transportation.

Here’s what Liz had to say!

Q: What does digital transformation mean for today’s business leaders?

2020 has become an extraordinary year for digital transformation as many companies that thought that they had years to roll out a digital strategy were forced to change their business models and processes very quickly. In 2020, digital transformation changed from a feature on the roadmap to a means of survival.

Q: What are the barriers that usually block the path to transformation?

Even if business leaders have the desire to digitize, they must weigh costs versus resources versus necessity. When persuading decision-makers to adopt a digital solution, you must ask, is my solution a pain killer or a vitamin? Meaning, is this solution a need-to-have or a nice-to-have?

In my entrepreneurial days, I was building a connected car API and scoping out the needs of organizations who could benefit from data coming from cars. My thesis was that developers would be building connected car apps. I was talking to insurance companies and telecoms to understand how they could leverage the car data to create efficiencies and excellent customer experience. While they thought that my offering was forward-thinking, their main priority was selling their existing products rather than a new venture to monetize car data. My solution was a difficult sell because, at the time, it was seen as a vitamin and not a painkiller.

Q: What holds companies back from prioritizing their investment in mobile customer experience?

Timing and relevance can be major factors when prioritizing investment in the mobile experience. Take my BOPIS example. Until COVID-19, delighting the customer with in-store experiences was relevant to engaging customers in retail and dining. These days, safe, hygienic customer experiences are a higher priority. Mobile now solves a pain point at a critical moment, enabling companies to engage with customers at a comfortable distance.

Q: What is the mobile channel’s role in digital transformation?

I used to think of mobile as a tool for reaching users on-the-go. My view has shifted as people use mobile devices wherever they are and, for many people, mobile is their primary computing device. I view mobile as a tool that enables the human experience, whether it’s offering navigation, paying for your daily coffee, recording key life moments, tracking your fitness goals, watching movies at home, or sharing a connection with people remotely. I see mobile as if it were a digital extension of you.

Q: What’s your best tip for staying agile when implementing changes to your mobile digital transformation approach? How can teams respond quickly to what they learn?

Be empathetic. Empathy within teams sets the right tone for communication and collaboration. When team members lack empathy, it can lead to a break-down in communication and goal alignment. An empathetic team is in-touch with what is going on with each other, the project, and the customer experience. These teams are inherently structured to be responsive to changing priorities.

Q: How do you measure success? How can you track the value of mobile strategies?

Success metrics depend on the project goals. Am I looking for sustained brand engagement over years? Am I trying to make customer engagement a daily habit? I take a two-pronged approach, leveraging both quantitative and qualitative data. The quantitative results help direct me to ‘the what’ while the qualitative approach helps me understand ‘the why’. Part of my innovation work involves conducting both quantitative surveys and qualitative customer interviews. Analyzing the quantitative data helps me discover what the customer does, but the qualitative insights are what bring the customer narrative to life and aligns me with who I’m building for and why.

A huge thank you to Liz for taking the time to share her thoughts. Stay tuned for the next interview soon!

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