WSO2Con EU 2016: Keynote - How To Become A Digital Predator

@NigelFenwick
Digital Predator Or Digital Prey?
Nigel Fenwick, Vice President, Principal Analyst
@NigelFenwick
June 8th, 2016

@NigelFenwick
3© 2016 Forrester Research, Inc. Reproduction Prohibited
Source: Birds Wallpapers
Predator?

@NigelFenwick
Or Prey?
Source: Birds Wallpapers
© 2016 Forrester Research, Inc. Reproduction Prohibited

@NigelFenwick
Source: Starwood Hotels & Resorts
As companies
innovate we
experience new
digital services
every day

@NigelFenwick
Sales not
influenced by
digital
Sales
influenced
by digital
By 2020,
47% of exec’s expect
digital
to influence
>50%
of sales.
Source: “The State Of Digital Business, 2015 To 2020” Forrester report

@NigelFenwick
Every sector, including B2B, will see a dramatic shift

@NigelFenwick
Big companies will see the most disruption
Large orgs must
learn to become
agile and
innovative.

@NigelFenwick
Are companies prepared?

@NigelFenwick
Just
26%
of CEOs set
a clear vision for
digital to employees.

@NigelFenwick
25%
understand potential
for digital to change
how the company
creates and delivers
value
to customers.

@NigelFenwick
21%have the right
culture.

@NigelFenwick
21%have the right
people
defining strategy.

@NigelFenwick
19%have the right
tech.

@NigelFenwick
16%have the right
people and skills
to execute.

@NigelFenwick
14%have the right
processes.

@NigelFenwick
Are Digital Predators Different?

@NigelFenwick
Source: Forrester/Odgers Berndtson Q3 2015 Global Digital Business Online Survey
Predators
Transformers
Dinosaurs
Base: 435 respondents
% of Business Influenced By Digital

@NigelFenwick
Predator Leaders Are Great Communicators
“To what extent do you feel you personally unders tand your ﬁrm’s s trateg y
for/approac h to digital bus ines s?”
(On a s cale of 1 [do not understand at all] to 10 [completely understand]).
0-3 4-6 7-9 10
Dinosaur 8%21% 55% 17%
Transformer 2% 16% 56% 25%
Predator 1% 10% 49% 42%
Base: 431 respondents in companies with 10+ employees

@NigelFenwick
The #1 Success Factors Of Predators
New
sources of
customer
value
World class
customer
experiences
Customer
Obsessed

@NigelFenwick
Source: Forrester Research, Inc. Unauthorized reproduction, citation, or distribution prohibited.120306
Source: Watermark Consulting
A customer-
value-oriented
strategy pays
dividends

@NigelFenwick
New
experiences
change our
expectations
and impact our
future value
perceptions.

@NigelFenwick
Experiences
Shape
expectations
Outcomes
Shape value
perception
Experiences must deliver desired
outcomes to create value

@NigelFenwick
“Does your ﬁrm have a dig ital bus ines s s trateg y?”
Preda
Trans
We have a full strategy in place that
deﬁnes how our business will create
customer value as a digital business
66%
24%
23%
We have a limited strategy in place
that adds digital elements to
the existing business model
27%
53%
57%
No, but we are developing
2%
18%
Predators Create Customer Value With Digital
Predators
Predators
Transformers
Transformers
Dino’s
Dino’s

@NigelFenwick
Today’s business

@NigelFenwick
Digital
Today’s business

@NigelFenwick

@NigelFenwick
Digital
Bolt-on is not
a winning strategy.

@NigelFenwick
Digital transformation:
A fundamental shift in how a
firm delivers value and drives
revenue

@NigelFenwick
It’s time to rethink how your business will
create value for your future customers
Old New
Desires
Outcomes
Experiences
Services
Products
Digital prey Digital predator
Design
Deliver
Satisfy

@NigelFenwick
There are two sides to the CX story
New
sources of
value
New
expectations

@NigelFenwick
Create New Sources Of Customer Value
Source: Direct Energy

@NigelFenwick
Source: Nest Rush Hour Rewards
Digitize inside your customer’s digital ecosystem
Source: Forrester: March 2015 – “How To Craft A Better Digital Vision”

@NigelFenwick
Security
TalentVision
The #3 Success Factors Of Predators

@NigelFenwick
“10 years ago inside GE, we would say
software is just not our business.
Now I think it's maybe one of the most
important themes around the company…
I'm now going back to school on
software and analytics”
Jeffrey Immelt, CEO General Electric

@NigelFenwick
https://www.flickr.com/photos/yusamoilov/13334048894

@NigelFenwick

@NigelFenwick
Needs Desires

@NigelFenwick
Source: DuPont Pioneer

@NigelFenwick
Experience
Expectation
Perceived Value

@NigelFenwick

@NigelFenwick
What are my
customer’s
desires
0 16 804021 30 6555
Angst
College
Family
Crisis
Gandchildren
Freedom
http://orig14.deviantart.net/4fc8/f/
2009/220/9/6/
the_one_ring_by_todd587.jpg
Image source: todd587.deviantart.com

@NigelFenwick
Image source: cerzus69.deviantart.com
› Outcomes:
What are the
best outcomes
that will satisfy
my customer’s
desires?
Identify The Outcomes That Satisfy Desires

@NigelFenwick
Image source: petugee.deviantart.com
› Experiences: What
new experiences
might we create to
better deliver these
outcomes?
› Can we change
today’s experiences to
better deliver
outcomes?
Design Experiences To satisfy Desires

@NigelFenwick
Image source: Apple
› Personal Value
Ecosystem: What
other experiences
does the customer
have today in their
journey to satisfy their
desires? Can we
partner / replace?
Design Ecosystem Experiences

@NigelFenwick
Source: Microsoft
Drive rapid
customer centric
innovation

@NigelFenwick
49© 2016 Forrester Research, Inc. Reproduction Prohibited© 2015 Forrester Research, Inc. Reproduction Prohibited
LVMH / Sephora
acquired Scentsa’s
digital business
capabilities to enrich
its business
ecosystem
Source: Forrester: March 2015 – “How To Craft A Better Digital Vision”
Source enhanced operational capabilities

@NigelFenwick
Source: Rebekka Minkoff
Design high value experiences

@NigelFenwick
Beware of setting
expectations
beyond your
operational
capabilities

@NigelFenwick
Build your digital DNA
& design experiences
to deliver outcomes
that satisfy desires.

@NigelFenwick
forrester.com
Thank you
Nigel Fenwick
Twitter: @NigelFenwick
http://bit.ly/nigelblog

WSO2Con EU 2016: Keynote - How To Become A Digital Predator

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WSO2Con EU 2016: Keynote - How To Become A Digital Predator