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1IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation
The Experience Revolution
Digital disappointment - why some customers aren’t fans
Presenter’s Name | Optional presenter’s title/credentials
Cristene Gonzalez-Wertz
IBM Institute for Business Value
Electronics Research Director
Getting CX right to win
7 things I will not say during
the course of this hour
1. The words “Design Thinking”
2. You need to use Facebook more
3. How good are you on Instagram?
4. Millennials are lazy/don’t have loyalty/are
x,y,or z
5. Technology can fix everything
6. You need an omni-channel experience (you
do but it should go without saying by now)
7. Your problem is exactly like one I saw last
week (it’s not, we are all facing new, never
seen before challenges)
Setting your expectations
5IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation
Superannuation   don't change the player, change the game
5IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation
Opening Salvo
The vast majority of
experiences now include
at least some digital
elements
(and this is a good thing)
Data Rich
Mineable
Trackable
Easily combinable
Shareable
6IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation
In this age of digital disruption
executives are turning to digital technologies
to transform their CX.
They are optimistic this shift will have
a significant positive impact on their business.
7IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation
Source: IBM Institute for Business Value, Executive survey n = 600; Consumer survey n = 5,895
Doing things rightMillennials are far more likely to use companies’ digital
CX initiatives than other generations
Percentage of consumers who use companies’ digital CX initiatives regularly
MillennialsBaby Boomers Gen X
Receive mobile alerts near company
Explore with virtual reality
Locate products with app
Interact with voice command
Order online and pick up
Change order with mobile app
Purchase with mobile pay app
Design customized version with app
Use interactive digital displays
Learn
Get
assistance
Order
24%
16%
24%
17%
34%
30%
29%
18%
16%
8IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation
Easier processes
The big disconnect:
Executives and consumers are seriously misaligned
Factors driving customers’ willingness to try companies’ digital CX initiatives
2
4
5
6
7
Improved sense of control
Customer’s digital savvy
Improved convenience
Ability to self service
Easier processes
Takes less time
Curiosity
Faster results
Less expensive 7
Executive Ranking Consumer Ranking
Takes less time
Improved convenience
Faster results
Less expensive
Digital savviness
Ability to self service
Improved sense of control
Curiosity
1
2
3
3
4
5
6
7
8
1
2
3
5
7
7
1
2
5
6
7
3
Source: IBM Institute for Business Value, Executive survey n = 600; Consumer survey n = 5,895
Doing things right
But that is not what is really important here
Post-demographics -
meeting the world as it is
That’s what’s really important here
Doing the right things
IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation
Fixing the savings
problem is about
changing perceptions
$1mm today or a penny, doubled
every day for a month?
It’s not that they can’t do the
math, it’s all the stuff in the way of
the timeline that’s the problem.
Day 1 $ 0.02
Day 5 $ 0.32
Day 10 $ 10.24
Day 15 $ 327.68
Day 20 $ 10,485.76
Day 25 $ 335,544,32
Day 30 $10,737,418.24
Objectives and Objectivity
The millennial
timeline shapes their
perspective.
It also needs to shape
ours in communicating
with them
(this list is not in order nor is it comprehensive)
(the six millennials who proofed this list also
asked me to point out they are the most over-
analyzed generation ever as well)
11IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation
Medical Crises:
AIDs
Avian Flu
SARs
Opioids
Care Affordability
Wars/Violence/Unrest:
9/11
Afghanistan
Iraq
Middle East
Syria
Russian aggression
Politics:
Bush v Gore
Julia Gillard
Barack Obama
Justin Trudeau
Putin
Trump
Kim Jun -Un
Macron
Media:
Marketplaces
Y2K
Gaming
Social Media
YouTube
Wikipedia
Reddit
Culture:
School Shootings
LGBT Rights
Feminism
Men’s Rights
Hate Groups
Cybercrime
Economics:
The 10-5-1%
The Great Recession
Living at Home
Brexit
Student Loan Crisis
Side Hustles
Relationships:
Cohabitation
Marriage Deferral
Gay Marriage
Collapsing Birth Rates
Helicopter Parents
Dating as Sport
Technology:
Internet
Cellphones & Tablets
Apps
AI Explodes
IoT
Robots & Drones
VR/AR
Movements:
Organic
Green
Local
eCommerce
Crowd Sourcing
Micro-financing
Sharing Economy
12IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation
“My parents had their savings & life plans wiped out in the great recession - I’m
stable now while they work part-time, but it’s hard for older people to find jobs.
They won’t be able to retire; when will my income need to start supporting
them, too?
“So it’s not just “my credit is f-ed”,
it can be “by the time I pay off my
loans, I’ll maybe have kids, AND
maybe be supporting 2-4
additional adults.”
13IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation
Graduates in full time employment in 2008 56.4%
Graduates in full time employment in 2014 41.7%
IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation
Australia’s historically low wages growth may also have bottomed, he said, though a pick-up in
wages growth did not seem imminent.
But Lowe said the ratio of household debt to income was at a record high – at 189.6% – and
there were signs it was starting to affect spending.
“Households are carrying more debt than they have before and, at the same time, they are
experiencing slower growth in their nominal incomes than they have for some decades,” he
said.
“For many, this is a sobering combination. Reflecting this, our latest forecasts were prepared on the
basis that growth in consumption was unlikely to run ahead of growth in household income over the
next couple of years.
“This interaction between consumption, saving and borrowing for housing is a significant issue.
The Tipping Point
15IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation
Solving the obvious problems probably is not solving
the right problems (IOW, fixing your app won’t help much)
Finding Work Getting Responsible
Overcoming Inertia Creating Passion
Developing Continuity Enabling Autonomy
They can’t participate if they
aren’t working.
And they need to understand and
value of their plan once they are
They’re going to leave that job you
helped them find. How can you
make sure they want to keep you?
By creating reasons for them to
stay – from the way you interact
to the way you support them
So that you are not a deduction
from wages but a part of their
goal and self management
approach
And by helping them transition
into the next big thing – whether
it’s a new job, a new life activity or
starting a new business
16IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation
How do you create an experience worth staying with?
“With” Experiences Support#SquadGoals
The path to any great relationship
Among the first steps is to consider how you bring those
skills together – and look at platform creation
The Network Imperative Libert, Beck and Wind, 2016
Firm-centric
• Focuses internally
• Grows slowly
• Uses its own capabilities
• Sells its own product and services
• Has high marginal costs
• Has lower profit margins
• Has a low multiplier
Network-centric
• Focuses externally
• Grows quickly
• Uses capabilities of its network
• Lets others make and sell
• Has near zero marginal costs
• Has high profit margins
• Has a high multiplier
IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation 17
2.0x
Sales growth YoY
1.2x
Gross Profit Margin
1.8x
Multiplier
1.8x
Return on assets
creates connection by making it easy for others to plug
into the platform. This infrastructure enables
interactions between participants. Developers and the
ecosystems they leverage.
Connection
Gravity
Flow
creates pull that attracts participants to the
platform with a kind of social gravity. Both
producers and consumers must be present to
achieve critical mass. Incentives, reputation
systems, and pricing models.
Toolbox
Magnets
Matchmakers
Fosters flow of value by making connections
between producers and consumers. Data is at the
heart of successful matchmaking, and distinguishes
platforms from other business models. The
Matchmaker leverages data to facilitate connections
between producers and consumers.
Connection: how easily
others can plug into the
platform to share and
transact
Gravity: how well the
platform attracts
participants, both
producers and consumers
Flow: how well the
platform fosters the
exchange and co-creation
of value
It’s not about building “functionality,” it’s about helping people
to use it, extend it and share it
Platform Attributes
IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation 16
part.
The most important thing to remember
Platform Attributes
IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation 16
IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation
OM:
Can you feel it? It’s about a shared sense of consciousness
2
0
Resonant
Does what you’re saying
harmonize with who I
am?
Flexible
Is it your way or my way?
What are my choices? Is
it worth the effort?
Calm
I have enough stress. Is it
easy? Do you treat me
with respect?
Life is about making an impact
not making an income
– Kevin Kruse
Superannuation   don't change the player, change the game

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Superannuation don't change the player, change the game

  • 1. 1IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation
  • 2. The Experience Revolution Digital disappointment - why some customers aren’t fans Presenter’s Name | Optional presenter’s title/credentials Cristene Gonzalez-Wertz IBM Institute for Business Value Electronics Research Director Getting CX right to win
  • 3. 7 things I will not say during the course of this hour 1. The words “Design Thinking” 2. You need to use Facebook more 3. How good are you on Instagram? 4. Millennials are lazy/don’t have loyalty/are x,y,or z 5. Technology can fix everything 6. You need an omni-channel experience (you do but it should go without saying by now) 7. Your problem is exactly like one I saw last week (it’s not, we are all facing new, never seen before challenges) Setting your expectations 5IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation
  • 5. 5IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation Opening Salvo The vast majority of experiences now include at least some digital elements (and this is a good thing) Data Rich Mineable Trackable Easily combinable Shareable
  • 6. 6IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation In this age of digital disruption executives are turning to digital technologies to transform their CX. They are optimistic this shift will have a significant positive impact on their business.
  • 7. 7IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation Source: IBM Institute for Business Value, Executive survey n = 600; Consumer survey n = 5,895 Doing things rightMillennials are far more likely to use companies’ digital CX initiatives than other generations Percentage of consumers who use companies’ digital CX initiatives regularly MillennialsBaby Boomers Gen X Receive mobile alerts near company Explore with virtual reality Locate products with app Interact with voice command Order online and pick up Change order with mobile app Purchase with mobile pay app Design customized version with app Use interactive digital displays Learn Get assistance Order 24% 16% 24% 17% 34% 30% 29% 18% 16%
  • 8. 8IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation Easier processes The big disconnect: Executives and consumers are seriously misaligned Factors driving customers’ willingness to try companies’ digital CX initiatives 2 4 5 6 7 Improved sense of control Customer’s digital savvy Improved convenience Ability to self service Easier processes Takes less time Curiosity Faster results Less expensive 7 Executive Ranking Consumer Ranking Takes less time Improved convenience Faster results Less expensive Digital savviness Ability to self service Improved sense of control Curiosity 1 2 3 3 4 5 6 7 8 1 2 3 5 7 7 1 2 5 6 7 3 Source: IBM Institute for Business Value, Executive survey n = 600; Consumer survey n = 5,895 Doing things right
  • 9. But that is not what is really important here Post-demographics - meeting the world as it is That’s what’s really important here Doing the right things
  • 10. IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation Fixing the savings problem is about changing perceptions $1mm today or a penny, doubled every day for a month? It’s not that they can’t do the math, it’s all the stuff in the way of the timeline that’s the problem. Day 1 $ 0.02 Day 5 $ 0.32 Day 10 $ 10.24 Day 15 $ 327.68 Day 20 $ 10,485.76 Day 25 $ 335,544,32 Day 30 $10,737,418.24 Objectives and Objectivity
  • 11. The millennial timeline shapes their perspective. It also needs to shape ours in communicating with them (this list is not in order nor is it comprehensive) (the six millennials who proofed this list also asked me to point out they are the most over- analyzed generation ever as well) 11IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation Medical Crises: AIDs Avian Flu SARs Opioids Care Affordability Wars/Violence/Unrest: 9/11 Afghanistan Iraq Middle East Syria Russian aggression Politics: Bush v Gore Julia Gillard Barack Obama Justin Trudeau Putin Trump Kim Jun -Un Macron Media: Marketplaces Y2K Gaming Social Media YouTube Wikipedia Reddit Culture: School Shootings LGBT Rights Feminism Men’s Rights Hate Groups Cybercrime Economics: The 10-5-1% The Great Recession Living at Home Brexit Student Loan Crisis Side Hustles Relationships: Cohabitation Marriage Deferral Gay Marriage Collapsing Birth Rates Helicopter Parents Dating as Sport Technology: Internet Cellphones & Tablets Apps AI Explodes IoT Robots & Drones VR/AR Movements: Organic Green Local eCommerce Crowd Sourcing Micro-financing Sharing Economy
  • 12. 12IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation “My parents had their savings & life plans wiped out in the great recession - I’m stable now while they work part-time, but it’s hard for older people to find jobs. They won’t be able to retire; when will my income need to start supporting them, too? “So it’s not just “my credit is f-ed”, it can be “by the time I pay off my loans, I’ll maybe have kids, AND maybe be supporting 2-4 additional adults.”
  • 13. 13IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation Graduates in full time employment in 2008 56.4% Graduates in full time employment in 2014 41.7%
  • 14. IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation Australia’s historically low wages growth may also have bottomed, he said, though a pick-up in wages growth did not seem imminent. But Lowe said the ratio of household debt to income was at a record high – at 189.6% – and there were signs it was starting to affect spending. “Households are carrying more debt than they have before and, at the same time, they are experiencing slower growth in their nominal incomes than they have for some decades,” he said. “For many, this is a sobering combination. Reflecting this, our latest forecasts were prepared on the basis that growth in consumption was unlikely to run ahead of growth in household income over the next couple of years. “This interaction between consumption, saving and borrowing for housing is a significant issue. The Tipping Point
  • 15. 15IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation Solving the obvious problems probably is not solving the right problems (IOW, fixing your app won’t help much) Finding Work Getting Responsible Overcoming Inertia Creating Passion Developing Continuity Enabling Autonomy They can’t participate if they aren’t working. And they need to understand and value of their plan once they are They’re going to leave that job you helped them find. How can you make sure they want to keep you? By creating reasons for them to stay – from the way you interact to the way you support them So that you are not a deduction from wages but a part of their goal and self management approach And by helping them transition into the next big thing – whether it’s a new job, a new life activity or starting a new business
  • 16. 16IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation How do you create an experience worth staying with? “With” Experiences Support#SquadGoals The path to any great relationship
  • 17. Among the first steps is to consider how you bring those skills together – and look at platform creation The Network Imperative Libert, Beck and Wind, 2016 Firm-centric • Focuses internally • Grows slowly • Uses its own capabilities • Sells its own product and services • Has high marginal costs • Has lower profit margins • Has a low multiplier Network-centric • Focuses externally • Grows quickly • Uses capabilities of its network • Lets others make and sell • Has near zero marginal costs • Has high profit margins • Has a high multiplier IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation 17 2.0x Sales growth YoY 1.2x Gross Profit Margin 1.8x Multiplier 1.8x Return on assets
  • 18. creates connection by making it easy for others to plug into the platform. This infrastructure enables interactions between participants. Developers and the ecosystems they leverage. Connection Gravity Flow creates pull that attracts participants to the platform with a kind of social gravity. Both producers and consumers must be present to achieve critical mass. Incentives, reputation systems, and pricing models. Toolbox Magnets Matchmakers Fosters flow of value by making connections between producers and consumers. Data is at the heart of successful matchmaking, and distinguishes platforms from other business models. The Matchmaker leverages data to facilitate connections between producers and consumers. Connection: how easily others can plug into the platform to share and transact Gravity: how well the platform attracts participants, both producers and consumers Flow: how well the platform fosters the exchange and co-creation of value It’s not about building “functionality,” it’s about helping people to use it, extend it and share it Platform Attributes IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation 16
  • 19. part. The most important thing to remember Platform Attributes IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation 16
  • 20. IBM Institute for Business Value /Electronics/ September, 2017 / © 2017 IBM Corporation OM: Can you feel it? It’s about a shared sense of consciousness 2 0 Resonant Does what you’re saying harmonize with who I am? Flexible Is it your way or my way? What are my choices? Is it worth the effort? Calm I have enough stress. Is it easy? Do you treat me with respect? Life is about making an impact not making an income – Kevin Kruse