Tackeling Retention in a #GenZ world. – My day 3 recap of #collisionconf @collisionHQ

Retention is the key word in a world filled with subscription models where you can get everything delivered per month. It’s all coming down to brand loyalty which creates customer succes. To have customer succes with your experience, it’s becoming very important to attract the right customer and to have him stick around. He’s future value (customer lifetime value) is more important than his acquisition cost. So instead of focussing on acquiring as many customers as possible, you need to focus on attracting the right customer and keeping him for as long as possible.

Onboarding of that customer is key in this model! The want to make sure that your customer is the right one. If you look at Apple Music for instance, they run you through a start menu where you (organically) select what you like. That way they make sure that they deliver the right music, and create a customer success. It might sound weird going to a start-up menu first or through a manual, but this is key for customer succes in the long run! This also means that you don’t need to acquire everybody! What you offer is something your customer needs, desires and has capability of. If all three are not present, long term retention is hard.

Your GenZ customer lives in this subscription world. On average they have one 100 dollar worth of subscriptions running each month. To create GenZ succes in this model, authenticity is very important. Brands need to know what they stand for, and align that over the company, sales funnel and experience they offer them.
Yes, GenZ is still a digital (mobile) first generation, but they want an omnichannel experience which they can show of (in the digital world).  For them there is only one reality, a mixed one where off- and on-line are aligned.
Instead of using traditional channels to influence them, it’s about creating great experiences which allow them to be successful. This way trust is build, and they will use the referral model of influence in an organic way. If you come in the organic way and do proper onboarding, you build trust and they will stick around.

Posted in Flat Author

It’s a new reality out there! An immersive one with Robots in it. – My day 2 round-up of #collisionconf @collisionHQ

A lot of talks on virtual reality today! Although (still) no breakthrough in the consumer segment virtual reality in any kind of form (immersive, mixed, augmented or virtual) is for real in the business/professional segment.
A top down approach in training using VR has a retention of 80 %, versus 20% through tradition training and is way more cost efficient. One VR set only cost a fraction of a simulator. Professional and military training therefore invest highly on VR or immersive applications in order to train their people.  To be successful the VR (or immersive) experience needs to be authentic and serve a purpose. To support both, storytelling needs to be part of the equation to build sustainable muscle memory.

Besides a new virtual world, we will notice robots taking the stand in our everyday life. Cobalt robotics has its robots working side by side with humans in security. Trained on the job to detect anomalies it can cover a lot of ground when human surveillance is not available (f.i. during the night). Through it’s screen people can interact remotely with the surveillance agent.
This cooperation combines the best of both worlds. A robot can have the best senses (smell, visuals, hearing) while humans remain friendly and build conversation.  To introduce robots in your organization, you need to make them part of your company culture. And the moment they (really) work, we won’t can them robots any more.
For now it’s all about a security ecosystem, but in the near future robots can be introduced in inventory, facility management, … This way they can be part of bigger ecosystem in which they communicate with other (smart)machines (IoT) and get the work done only using human interference when necessary.

Posted in Flat Author

Be creative, use data and build trust! – My round-up of day 1 #collisionconf @collisionHQ

With Joseph Gordon-Levitt and Timbaland I knew I was in for a treat on creativity. Both artists acknowlegded the importance of remaining creative. With the Hitrecord platform Joseph focusses on the collaborative nature of creativity. Together people can create awesome stuff, and the Hitrecord.org platform makes this creative collaboration possible. Timbaland, on the other end, focussed on the human aspect of creativity in collaboration with AI. AI could generate a massive amount of creative solutions and possibilities but it will always be up to humans to make final decisions in this creative process. AI as true enabler of human creativity.

 

A red line throughout several talks today was data usage to better understand your customer. Although a lot of people talk as if data is already the new oil, it still is in its toddler phase regarding relevant value creation for your customers through data and algorithms.
Dotdash, former about.com, has used the power of it’s data to build trust with its users. They noticed that generic content sides (like about.com) generated less traffic, then a specialized site focussed on specific content. Consumers tend to find specialized sites more thrustworthy. So they used their algorithms to be and act like humans.m with their data.
This is really necessary beacuse consumers aren’t always a voluntary element in the digital ecosystem. But if you can use data to help your customers, and less about doing commerce, your customer will start to build trust (and in the end generate revenue!).

 

Posted in Flat Author

Collision Conference is ON! #collisionconf @collisionHQ – Opening night

Opening night in Toronto for Collision Conference.
After several visits of SxSw, I decided to take a closer look at Collision Conference this year.

This first blog is all about opening night where 8 start-ups already inspired me, Prime Minister Trudeau explained why you need to invest in (international) talent to remain competitive in the tech start-up world, Jessie Reyez showed us what entrepreneurial mindset realy is all about and Seth Rogen wants us all on canabis, but in an educated way…because less sometimes realy means a better experience.

vmYGl4lQS16spRM6oyrWqAThe centre stage at the Enercare Centre in Toronto hosted Collision 2019’s opening night. And boy, what an opening that was!
As a sort of warm-up act 8 start-ups pitched their case for a vast audience of over 5000 people. Without going into detail I realy want you to check out Persky and Flipd. They can use your support and usage.

After this pre-show, it was time the start opening night. After Paddy (Cosgrave) said hi and explained why we they moved to Toronto, it was time for the main star to go on stage; Prime Minister of Canada Justine Trudeau. Boy, is he popular in Canada! But I think I understand why…he’s a smart guy.
He explained that Canada’s succes is all about the focus on the war for talent. Educated Canadians are teamed up with the brightest people they bring in to the country.  Each (bright) immigrant is responsible for multiple local jobs. Now that’s a bold vision on immigration.
Together with the fact that a more divers society builds resilient solutions, it seems normal that Toronto (and Canada) are becoming the (tech)start up centre of the world.

Jessie Reyez and Michelle Zatlyn put a spotlight on Entrepreneurship, and how you become entrepreneurial. In brief it’s all about what you make of life! Opportunities don’t just a happen, you make them happen. So simple, but so true.
Also the fact that starting your business is (only) a matter of focussing on a real problem you want to solve, and the connection with people instead of a good team and (seed) money. Again so simple, but so true we tend to forget it.

When Seth Rogen, together with his pall Evan Goldberg, took the stage it became clear that passion needs to be involved if you want to become succesfull. With HousePlant Seth and Evan want to clear the pad for canabis (usage) in a well educated way. Canadian legislation allows the use of canabis within a legal framework. Within this framework Seth and Evan builded HousePlant, a canabis brand and network to deliver canabis and educate on canabis. Interesting to see people talk on stage about regulated drug use…something I woulded see happing in Belgium any time soon.
What I learned though is that sometomes it’s better to sell less, to create a better experience.

Finally mayor John Tory officialy opened Collision 2019 in Toronto….but by that time I already left the venue. Preparing for the night and tomorrow, the first real congress day.

 

Posted in Flat Author

Humans are taking it back! And 2 other trends I got out of #sxsw2018

This was my third time into SxSw (interactive) – or South By (as locals tend to call it). As always, I came looking for new trends, tech and insights….and oh boy did South By deliver on the last one. 23 sessions later I have some insights to share!

People who followed my Instagram stories (@flatworldbusiness – Tom Fleerackers) already got a sneak peak on what I was up to, BUT I made a small aftermovie of my instagramstories – a sort of sneak peak into this SxSw-world!
Enjoy!

Out of each session I deducted one actionable insight! You can find these at the bottom of this post.
If I look at overal trends for the next year a few things arised over all my SxSw Experiences!

First the (re)new(ed) attention for the human side of the business both on customer side but especialy on the business side. We’ve got to the stage were we came aware that we – humans – are still around.

The last few years was all about tech making our lives better without thinking about the human side effects (both labourwize and experiencewize). Yes technology made our life a lot easier, and yes new technology like VR and AI will give humans completely new experiences, but where do wit the human in that proces. If you find the human side and you an elevate that than you will win the next few years! (You might want to read more about the human side of business my digital expert model!)

The second thing I got out of South By was that regarding Virtual Reality, we can create some amazing stuff, have us experience complete new things (even outside our body – yes you read that correct!), but that we’re still not there yet into making this mainstream! We miss a burning platform (and probably a dominant player that can get it out of the gaming and film industry)…but we’ll get there! Daniel McDuff, researcher at Microsoft, showed some cool things microsoft is working on regarding experience of one anothers physiological context…a little bit scary but very cool!

And third but not least, forget AI, forget VR…it’s quantum computing that will realy change the game! Well to be honest, it will be quantum computing that will make true AI and machine learning possible. Explaining quantum computing is hard (I experienced first hand), but know that things are realy kicking-off (with IBM and Goovle taking huge steps as we speak)….how this wil change our way of experiencing tech is still a bit hard to predict. Only know that quantum computing is far more powerfull than computing as we now it! To be continued.

What sessions did I attend?
What was my key take away or actionable insight?

#1 – I’ve got No screens: internet screenless future
We’re evolving from head down to chin up.

#2 – A conversational future:making technology adapt to us
Our conversational interface will be data informed.

#3 – What followers want: how social evolves in 2018
Social lets people have multiple persona’s (feed vs story)

#4 – A venture capital outlook on industry 4.0 tech
With automation realy taking of we have got to fix the skills gap (through education)

#5 – 7 non obvious trends
Look for intersections! There is opportunity!

#6 – 2018 Fjord trends
Although digital is the norm(al), physical is re-emerging.

#7 – How to speak to generation Z?
GenZ settles a debate in 60s thanks to Google! (GenZ = Google)

#8 – Beyond ads – when ad become entertainment
Engager-tainment shouldn’t be called content!

#9 – How to tab into consumers brain?
Technology distracts you from being a flow state.

#10 – Love the problem not your solution
Jobs don’t change. Solutions do!

#11 – A robot won’t take your job: a human will
Technology created more jobs in the past 144 years than it has taken away.

#12 – How brands grow in the AI era?
Move from an internet strategy to an AI strategy, and don’t just focus on your product, focus on your customer.

#13 – A new leadershipmodel for the digital age
In a world filled with (to much) data, focus on what you don’t need to know.

#14 – The lean digital revolution: speed at scale
Be humble. Fail fast and make the life of your customer easier.

#15 – Transformation is not digital, it’s constant
Digital transformation is not the end game. You need to think beyond the digital transformation.

#16 – Reaching for truth
Don’t just tell your story,live it!

#17 – The final computer interface:the human brain
A brain interface does not discrimate! Everybody has a brain.

#18 – The endless possibilitues of quantum computing
Quantum computing, not AI, is the space race of this generatio

#19 – How does VR truly become mainstream technology?
In the long-run aconsumer will not know what VR is, it will just become media.

#20 – Augmented minds: VR that pushes perceptual limits
The brain only cares about the content, not the source.

#21 – Chatbots & robots give rise to the “human” brand
The more complex the action the better the assisted experience can be.

#22 – Goodbey mad men, hello new gen
“We are for profit for shure, but also for purpose!” – Brandless

#23 – A conversation with Kim Deal & Steve Albini
“If it ain’t featured, fuck it!” – Kim Deal

Posted in Flat Author

You can seduice us Vero, but that doesn’t mean we will quit Facebook!

Last few weeks the new social network app Vero was the new number one social in the app-stores!

An app with only your friends, no commercials, no hassling newsfeeds or company stories, no monthly fees….just you and your friends, everything we always wanted from our social network. And when celebrities take a peek and make a profile their fans will follow.

vero-app-store

There’s onky one big but…you never get a chance for a second impression, and that’s where it all goes wrong for Vero. Due to its success developers can’t keep up, deleting your account seems impossible (but is not, just a bit hard)and the app crashes all of the time, or doesn’t work as it should be. Not to mention the owner Ayman Hariri, who’s past is a bit shaky!

The big rise will result in a big fall, and we’ll all return to business as usual; lurk around Facebook.

Although we all seem to dislike Facebook most off us tune in daily on the app. Just to check of they didn’t miss anything, because Facebook is your social network, social agenda, social memory….we all like it when Facebook reminds us of a birthday, we all like it when Facebook puts on a (long last) memory picture from this day a few years ago. It turns a small smile on our face!

Yes, we hate the advertising, sponsored posts, the timeline algorithm and the invasion of our privacy. On the other side we also like the convenience of Facebook: telling is what we want to know, reminding us what we forget and being our never-ending trip down memory lane!

So of you’re thinking on beating Facebook…think on how you can beat their convenience. Yes an app that works would go a long way (but know that’s not the only thing you need to do). Think how you can put a smile on people’s face and have them shares their stories, their passion(s).

Who’s next to challenge Facebook?

Posted in Flat Author

Creating operational excellence in the digital expert model (DEM).

With the digital expert model I want to help companies and organisations to create true digital value. The methodology focusses on 2 axes of value creation, and helps you communicate your (new) value.

One the Extreme Customer Centricity axe I focus on the human side of your Value Proposition and on your operational excellence. In a digital world operational excellence is the minimum offer your customer expects. Although you might think that this is a race to the bottom to implement any digital technology, I see it as a key differentiator from your competitor. Focus on that technology that helps you create a true digital value proposition. It’s always about why and how instead of what!

Why do you want to use this technology?
How does this technology add value for my customer?

This might seem hard at first, since most of your competitors (just) follow the digital crowd. I hope that a few basic questions help you!

How is your customer in control of your value proposition?

Today’s customer wants to be in control of his actions or better the customer is put in control of his actions.
A good example is banking. We switched from a counter based business model with a lot of physical touch points, to a (mobile) application based model where you can do most of your banking. Besides the fact that this is cost efficient is enables the customer to bank whenever and where-ever he wants.
This example shows that technology helps to put people in control.
It’s still a work in progress. We moved from online banking (bank anytime, but at home) to a mobile empowered model (bank anytime, anywhere – as long as you have a connection). And now we see that banks enable people to take up even more complex banking products (like loans or insurance) by themselves. No more waiting lines, no more hassle with banking hours, the customer is in control.

KBC

How can you enable customer control in your value proposition which helps your customer overcome possible pains they experience in experiencing your value proposition?
As a positive side effect it will be cost efficient for the company, but his can never be a driver for digital tools!

How does your value proposition simplify the life of your customer?

Your operational excellence should be that excellent that is simplifies your customer’s life. How can you achieve a simplification of your customers life – or better said: How can you make life easier?
Off course the mobile banking makes your customer’s life easier regarding how and when he’s banking, but most customers have a fear of making mistakes especially when transferring money or paying bills. To simplify that Belgian KBC-bank uses the camera on the mobile device to scan the pay slip and fill-out all the necessary field. All you need to do is check  and press the pay-button. Truly a way to simplify the customer’s life.

Answering these questions, and looking for opportunities for (digital) operational excellence is the easiest part. The next step is developing and implementation as your customer will only give you one chance to do it right!
Don’t implement any digital technology which you’re not shure off that it will deliver upon its value proposition! Also in digital you only get one chance to make a first impression.

In support of the search for operational excellence the digital expert model provides a second axe: technology as a facilitator. We look for opportunities in data, user interface and intelligence augmented to support your operational excellence and your customer experience.

Further reading:
Steven Van Belleghem (2017) Customers the day after tomorrow

 

Posted in Flat Author

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 815 other followers

Flat World Poll
  • 517,726 hits
%d bloggers like this: