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Dive into the transformative power of innovation, talent, and customer-centric strategies to propel your business forward in the digital age. Explore key insights and strategies from industry leaders on navigating the evolving landscape of commerce.
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Pentium III 800MHz: $42,893.00/#Hermes Scarf: $1,964.29Saving Private Ryan on DVD: $874.75Mercedes-Benz: $18.98Hot-rolled steel: $0.19Source: Fortune (3.20.00)
Forget > Learn“The problem is never how to get new, innovative thoughts into your mind, but how to get old ones out.”Dee Hock
“Change the rules before somebody else does.”Ralph Seferian, VP, Oracle
RR on “Assetless” [J.B.] Sara Lee“The most profitable businesses in the future will act as knowledge brokers, linking insights into what’s available with insights into the customer’s individual needs and preferences.”
Buzzsaw.comBuilders, Owners, Architects, Contractors, Suppliers$4T industry5,300 commercial bldg. projects’ specs on-line; +70 per day
These are …L.A.D.T.I.R.S.**Life-and-death-total-industry-reinvention-struggles
“Reward excellent failures. Punish mediocre successes.”Phil Daniels, Sydney exec
“Every project we take on starts with a question: How can we do what’s never been done before?”Stuart Hornery, CEO, Lend Lease
“Steve Ross had a wonderful philosophy: People get fired for not making mistakes.”Bob Pittman
The greatest dangerfor most of usis not that our aim istoo highand we miss it,but that it istoo lowand we reach it.Michelangelo
Characteristics of the “Also Rans” “minimize risk” “respect the chain of command” “support the boss” “make budget” Source: Fortune on “most admired global corporations” (10/26/98)
“Our business needs a massive transfusion of talent. And talent, I believe, is most likely to be found among non-conformists, dissenters and rebels.”David Ogilvy
Quality Not Enough!“While everything may be better, it is also increasingly the same.”Paul Goldberger on retail, “The Sameness of Things,” The New York Times
“The ‘surplus society’ has a surplus of similar companies, employing similar people, with similar educational backgrounds, coming up with similar ideas, producing similar things, with similar prices and similar quality.”Kjell Nordstrom and Jonas Ridderstrale,Funky Business
“The customer is a rear view mirror, not a guide to the future.”George Colony, Forrester Research“If you worship at the throne of the voice of the customer, you’ll get only incremental advances.”Joseph Morone, President, Bentley College
Good = Bad/ 1 of 30,000“We are crazy. We should do something when people say it is ‘crazy.’If people say something is ‘good’, it means someone else is already doing it.”Hajime Mitarai, Canon
Brand OutsideStrategy 2:UseE-Commerce toRe-inventthe Business!
I-24 to 1-28: BizRate.com Online Shopping Index [Consumer Goods]52 Weeks: +622%Source: The Industry Standard/02-00
Tomorrow Today: Cisco!90% of $14.4B(Cisco Connection ONLINE)Save $500M(service and tech support)C.Sat e >> C.Sat HCustomer Engineer Chat Rooms/CollaborativeDesign ($1B “free” consulting)
Service Call Center$300.00 per transaction to $1.50Savings: $550,000,000.00Source: Ralph Seferian, Oracle [part of O’s $1B saving – on a rev. base of $9B; $1B addnl this year]
Welcome toD.I.Y. Nation!“Changes in business processes will emphasize self service. Your costs as a business go down and perceived service goes up because customers are conducting it themselves.” Ray Lane, Oracle
Shop in your UnderwearSource: SM’d logo for www.ae.comae = American Eagle Outfitters
Anne Busquet/ American ExpressNot: “Age of the Internet”Is: “Age of Customer Control”
The Supply Side …The Age of the ChoiceboardThe War of the ChoiceboardsSource: Adrian Slywotzky, HBR 1-2/2000 [<1%]
W.W. Grainger*2X phone/fax*$220B “MRO” market (per Business 2.0/02-00)
“In the network economy, the Website becomes the company’s primary interface to the customer. The user interface becomes the marketing materials, store front, store interior, sales staff and post-sales support all rolled into one.”Jakob Nielsen,Designing Web Usability
“Most companies would do more business on the Internet if they fired their entire marketing department and replaced it with people who could produce interactive content that actually made it easier for users to buy.”Jakob Nielsen, Nielsen Norman Group
Red Herring (01/00)75% of online shoppers don’t complete their purchase!
“Where does the Internet rank in priority? It’s No. 1, 2, 3, and 4.”Jack Welch
“It’s better to be first with less than last with more. Success on the Web isn’t just about time to market, it’s also about ‘time to learning.’ ”Jeff Levy, eHatchery
?????????Home Furnishings … 94%Vacations … 92%Houses … 91%Bank Account … 89%Health Care … 75%Etc.
48% working wives > 50%80% checks61% bills53% stock (mutual fund boom)43% > $500K95% financial decisions/ 29% single handed
Women …49% of Web users; 6 of 10 new users; 83% of wired women are primary decision makers for family healthcare, finances, education.Source: Business Week (11-99)
Most Under-reported story!9M*/28M(1 of 4)/$3.6T [> Germany]* 400K in ’72; 132% since ’92Sources: NFWBO, Cognetics, Business Wire (030600)
Read This Book …EVEolution: The Eight Truths of Marketing to WomenFaith Popcorn & Lys Marigold