Commercial Lead Digital at Woolworths

MAIN PURPOSE:

This role is responsible for cascading the overarching WFS digital product strategy, owning associated digital product roadmaps, ensuring the commercial viability of our offerings, and enhancing both financial returns and exceptional customer experience. The primary objective of the role is to commercialise both existing and new digital products and capabilities through identifying Customer Value Proposition (CVP) opportunities that improve the total customer experience and deliver business value to the enterprise. The individual will be responsible for implementing strategic change and enhancements, that harness the best of what is offered in the digital marketplace, both locally and globally. In addition, the role is responsible for embedding digital as a pivotal strategic enabler across the WFS product portfolio and beyond.

KEY RESPONSIBILITIES:

Strategic alignment and contribution

• Together with Head of Digital, craft the digital product strategy, relevant to the commercial side of the business, based on an understanding of the WFS context and aligned to the WFS strategy.
• Drive digital product development, encompassing conceptualisation, design, development, business and value case, in support of the overarching WFS strategy.
• Collaborate with the WFS Customer team to ensure alignment of the WFS digital products to the customer strategy and essence of WFS as an entity.
• Commercialise the product strategy for the digital business as a digital champion across WFS, positioning the product strategy as an accelerator of the CVP, and a core driver of value and revenue creation.
• Draw upon market and broader external views to understand both current and future customer, competitor, and industry developments within the digital arena. Undertake on-going competitor analysis and benchmarking activities in this regard.
• Collaborate with other business units to sponsor or support and deliver product solutions, enabled by digital, that meet current customer needs and emerging expectations.
• Lead the process of bringing digital product concepts to customers.

Product development

• Own the holistic digital product roadmaps for web and app, ensuring both strategic alignment, maximum commercial and CVP value creation.
• Engage with key stakeholders across WFS, in particular Product Managers and Woolworths, to ensure that the digital application-level roadmaps align to the overall digital product strategy e.g., digital on-boarding as an application within WFS’ web capability.
• Drive potential CVP opportunities, by ensuring that the development of roadmaps is an iterative and continual process.
• Work in collaboration with the WFS Digital Factory, WWOL, WWIT and WFS PMO in owning the prioritisation and delivery of critical roadmap milestones.
• Identify new Digital CVP opportunities through existing and new digital capabilities (i.e., framing new products from existing partners and/or identifying potential new partner Products).
• Maintain an “outward thinking” focus across WFS as an enterprise, and beyond through conducting dynamic competitor analyses and maintain abreast of iterative and expansive elements within the Digital marketplace, both locally and globally.
• Explore the monetisation of digital offerings; analyse the potential projected value thereof and pursue viable opportunities accordingly.

Revenue and channel management

• Maximise value creation from both new and existing digital products (i.e., digital onboarding and digital CLI).
• Engage in the marketing of newly created and existing digital products (or with digital as an enabler).
• Elevate insights to focus the Digital strategy on distinct customer needs, thereby enhancing value propositions to WFS’s existing and target customer bases, to offer Continual compelling and attractive offerings.
• Create and implement operational plans to achieve the scalability requirements of the Commercial business.
• Own commercial targets (KPI’s and OKR’s) for each channel (comprising of multiple products and features), maintaining focus on ensuring that Digital offers and delivers on a compelling Customer Experience (CX) and Financial Value, and consequently drives aspirant scalability and growth.
• Provide specialist advice and guidance to other areas of the business to achieve commercial targets, with a particular focus on optimising customer journeys within Digital channels (e.g., by utilising straight through processing, to process transactions faster).
• Maintain close and critical liaison with Product and Marketing teams, overlayed with a deep understanding of customer behaviour, to drive new and non-digital customers to Digital channels.
• Work closely with the digital operational team to help ensure that customer expectations are sustainably met, and associated targets are achieved.
• Identify innovation opportunities for digital that offer maximum commercial potential and the highest propensity to increase or change customer behaviour; collaborate with the Head of Digital in building and implementing opportunities.
• Contribute to the review of Digital marketing campaigns, and drive insights for continuous improvement.
• Recommend adjustments to Digital product offerings as early customer perceptions of new products shape the CVP e.g., adopt a ‘test and learn approach’.
• Quantify metrics and targets for success of the digital products and develop strategies and tactics to achieve specified targets.
• Build and implement new Digital offerings that are aligned to the CVP and nudge customers towards adopting alternative Digital channels.
• Understand and optimise the “Risk vs. Reward” equation – working within, and challenging, risk appetite and credit decisioning (incl. profit model optimisation).
• Provide data and analytically led insights to proactively identify commercial growth opportunities for both new and existing customers.
• Take ownership of the commercial product income statement for delivery of short-term (STP/RAF) PBT targets.

Commercial Management

• Develop commercial models that accurately reflect the value of Digital offerings, considering the cost of their development and any other peripheral costs (i.e., marketing of products and services).
• Consider the Digital CVP, and shape the message being portrayed to customers on a dynamic basis, by setting prices at a particular level - ensure that the pricing models employed are consistent with the targeted customer segment.
• Monitor and evaluate the success of pricing frameworks, based on the uptake of Digital offerings and other pertinent metrics.
• Determine the accuracy of assumptions used for the financial calculations on cost versus benefit.
• Strive to continuously improve the digital cost per acquisition, driving efficiencies without compromising quality.

Partner and Stakeholder Relationships

• Maximise commercial benefit through continuous partner management and engagement of internal and external stakeholders (e.g., YoYo and Woolworths Online).
• Employ design thinking methodologies in partnering with the Customer team on Customer Experience (CX) and User Experience (UX) design for Digital products to guide the delivery of a range of Digital products, by clearly articulating customer touchpoints and customer journeys.
• Engage cross-functionally (especially with Customer team and other key digital users) with the objective of promoting ‘Digital First’ as a means of optimising the design of solutions for delivery via responsive Digital channels.
• Collaborate with the existing internal communication team to promote digital communications across the WFS product landscape.
• Participate in the management and integration of Digital touchpoints into WFS’s partners across the Digital product landscape to initiate new engagement opportunities and strengthen existing synergies.  
• Establish relationships with key stakeholders to enable decisions regarding solutions that are practical and viable from a commercial perspective; effectively aligning the product solution to the developed strategy.
• Understand the systemic nature of stakeholder engagement, which recognises the individual components as well as critical key integration points relating to products, customers, associated growth opportunities and complementary WFS sub-functional partnerships, to effectively realise both “grow” and “run” ambitions.
• People Management

Financial and Commercial Acumen

• Prepare the Commercial budget as a component of the overall Digital budget and manage financial performance against the budget to identify cost-saving opportunities.
• Maintain and apply a broad understanding of financial management principles to ensure decisions are fiscally sound and responsible.
• Monitor the overall performance of the Commercial business and recommend adjustments in the allocation of finances, based on progress against goals.

Requirements

QUALIFICATIONS

• Bachelor's Degree in Finance, Business Studies, Digital Strategy, or equivalent.
• Postgraduate Qualification (minimum Honors) in Finance, Digital Marketing or equivalent is an advantage.       

EXPERIENCE REQUIRED

• 5 - 7 years of experience working in a Financial Services / Consumer organization
• 2 – 3 years’ experience should be within a Commercial Leadership capacity
• Experience in scaling digital offerings to enhance revenue generation. 
• Financial background, coupled with product knowledge experience will be advantageous.