Post on 28-May-2020
Winning in the digital age Christopher J. Blackwell, PwC
www.pwcdigital.com
9 September 2014
Disruptions always seem to come as a surprise –
but rarely surfaces overnight.
… get ready for faster technology cycle speeds
hitting your business!
Burberry - A new way of customer engagement
17% CAGR since 2011 Stock value x8 Brand value >5bn USD e-commerce sales +50%
Nest • Google bought NEST for $3.2 billion to enter the
connected home market
• Nest provides amongst others a learning thermostat
that helps manage and optimize your energy
consumption and save money
• Nest has helped consumers save 2B Kilowatt hours via
smart thermostat controls since 2011
Automatic • Connected Car
• Collects / analyzes 100s m data points daily
• Personalized feedback to drivers, saving 30% fuel
• Discovered driving over 100km/h saves <5% time, but
wastes CHF500 fuel / year
Pandora • Tell us 3 songs you love and we will create a radio
station with streaming music you’ll love
• Music Genome project which analyzes the musical
structures present in the songs you like using over 400
attributes and then plays other songs that possess
similar musical traits
Fidor bank Pirates of banking
Participate. Innovate. Integrate.
Source: fidor bank
Building the foundation of the financial ecosystem
for third parties to innovate and build new services “The Fidor Smart Account kills
the traditional bank account,
like the smartphone killed the
mobile phone.”
Matthias Kröner – CEO Fidor Bank Group
Payment
Community Banking
Customer
Bank’s core banking system
Com-
munity Bonus Account
Pay-
ments
Third
party
Mobile and web front end
Fidor bank – building a banking digital ecosystem
Alibaba – Monetizing the community
China’s largest e-commerce company
Online payment escrow service
Alibaba Group Yu’E Bao investment fund
June 2013: Launch
Feb 2014: 81 million investors ($93b)
Disrupting the Chinese banking sector
Innovating in Internet finance
Prodding banks into offering investment products
Leveraging customer data (e.g. for credit scoring)
Increasing liquidity
Regulation to step in?
Interest spread development question
business model?
Uber – purchase a ride instead of a car
Find, ride, pay and share your experience Repeatable growth engine
Manufacturing Financial Services Healthcare Sports
Retail Education Energy Automotive
All industries SMACTed.
SOCIAL MOBILE ANALYTICS CLOUD THINGS
Companies can achieve new, sustainable growth by setting up or joining a digital ecosystem
Connectedness, interaction and digital identities are at the heart of the value
creation process and are amplified by reinforcing network effects
Community
Content
Commerce
Digital ecosystems Uber’s reinforcing network effects
Daimler – entering digital ecosystems to redefine
mobility
You don’t need a digital strategy. You need a business
strategy for the digital world! Winning in the digital age
Data is the new oil and provides a competitive advantage for taking each interaction to the next level
The world is in beta - all industries will be SMACTed by digital disruption
Move away from selling products to enabling delightful customer experiences anywhere, anytime
Digital ecosystems will replace traditional value chains and be a major driver of profitable growth
ACT
NOW
From strategy to execution
1. Understand your level of
digital fitness and what you
need to improve
2. Get insights about the
future of your industry and
assess opportunities and
threats
3. Embrace the SMACT stack
and decide on what options
to pursue
4. Develop a roadmap to
capture your opportunities
http://www.worldinbeta.com/
The world is in beta