Connected customers = disruption

Antony Mayfield @amayfield @brilliantnoise brilliantnoise.com

Connected customers = disruptionFinancial Services Forum: From the digital to the connected age event - 24.02.15

“Virtually every firm in every industry is

being shaken up by the digital revolution.

No chief executive can ignore the

onslaught of mobile computing, big data,

artificial intelligence and the like. These

new technologies offer the promise of

huge efficiency gains, but also the threat

of being walloped by some upstart from

Silicon Valley.”

The Economist | The World in 2015

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Two types of company:

1. Incumbents. 2. Disruptors.

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The Innovator’s Dilemma

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Connected?

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Two futures for marketing:

1. Promotions dept. 2. Customer experience

owners.9

Agility: Move fast and break things.

Problems. Solutions.

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Moving as fast as the customer.

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Moving as fast as the customer.

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Get close and stay close to customers.

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The world changes every 18 months. Which coincidentally is how long it takes for a big company to make a decision.

Hugh MacLeod

15Model first published Harvard Business Review - McKinsey & Co

Customer decision journey

- Consider: Aware of need.

- Evaluate: Comparing options.

- Buy: Purchase process.

- Enjoy: Using product.

- Bond: Developing trust.

- Advocate: Active recommending.

Customer decision journey stages

Customer centric planning - digital channels

Customer Goal: Buy a return flight to New York for a shopping trip.

Search Engine

Brand website

Price Comparison

Social Media

Consider Evaluate Buy Bond Advocate

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7 8

9 102

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Customer journey mapping - omnichannel

Source: eConsultancy

“She wasn’t last quarter…”

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Speed of change.

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Speed of change.

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Pilot and scale.

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If in doubt, start something.

Speed of change.

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Pilot and scale. Watch the horizon.

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Financial Services Trends Report2015

Plotting a trends radar

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brilliantnoise.com/CXexchange

Disruptor threats.

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The next disruptor in financial services may not be from our sector. Look at ApplePay or Bitcoin…

Tracy Garrad, First Direct

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What Amazon and Google get right is customer experience, UX, data.

Paul Wishman, Group E-Commerce Director, LV=

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Read this.

Disruptor threats.

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Disrupt yourself.

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“The goal is to become HBO faster than HBO can become us.”

Ted Sarandos, Chief Content Officer, Netflix

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Learn from disruptors.

- GE FastWorks based on The Lean Start-Up method.

- 40,000 employees trained in its principles.

- The “next Six Sigma”.

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Learn from disruptors.

- Coca-Cola’s 70:20:10.

- Growing culture of risk-taking and innovation beginning in marketing.

- Coke Founders Programme: serial-entrepreneurs let loose inside the company.

Inertia and entropy.

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Inertia and entropy.

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Strong strategy and culture change.

“It is the individual, operating at the peak of his or her powers, who will revive our organizations, by reinventing both self and them.” Warren Bennis, Leadership studies pioneer and professor at USC

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Strategy & culture.

- TUI Travel PLC response to online travel disruption.

- Strategy - vertical integration and own the whole customer experience.

- Digital investment - new platforms.

- Simultaneous people strategy to build digital leaders and literacy.

Digital mindset

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“Broken UX means a broken brand.”

Alun Williams, European Head of Digital at TUI Travel.

40http://bit.ly/1B4OBEj

Efficiency is the new premium.

Thank you. @amayfield

@brilliantnoise

brilliantnoise.com

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