Slides from my talk at the Financial Services Forum on February 24th 2015.

1. Antony Mayfield
@amayfield
@brilliantnoise
brilliantnoise.com
Connected
customers =
disruption
Financial Services Forum:
From the digital to the connected
age event - 24.02.15

2. “Virtually every firm in every industry is
being shaken up by the digital revolution.
No chief executive can ignore the
onslaught of mobile computing, big data,
artificial intelligence and the like. These
new technologies offer the promise of
huge efficiency gains, but also the threat
of being walloped by some upstart from
Silicon Valley.”
The Economist | The World in 2015
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3. Two types of company:
1. Incumbents.
2. Disruptors.
3

4. 4
The Innovator’s Dilemma

5. 5

6. 6

7. 7

8. Connected?
8

9. Two futures for
marketing:
1. Promotions dept.
2. Customer experience
owners.
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10. Agility:
Move fast
and break
things.

11. Problems.
Solutions.
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12. Moving as fast as
the customer.
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13. Moving as fast as
the customer.
13
Get close and stay
close to customers.

14. 14
The world changes
every 18 months.
Which
coincidentally is
how long it takes
for a big company
to make a decision.
Hugh MacLeod

15. 15Model first published Harvard Business Review - McKinsey & Co
Customer decision journey

16. - Consider: Aware of need.
- Evaluate: Comparing options.
- Buy: Purchase process.
- Enjoy: Using product.
- Bond: Developing trust.
- Advocate: Active recommending.
Customer
decision journey
stages

17. Customer centric planning - digital channels
Customer Goal: Buy a return flight to New York for a shopping trip.
Search Engine
Brand website
Price Comparison
Social Media
Consider Evaluate Buy Bond Advocate
1 3
7 8
9 102
5
4 6

18. Customer journey mapping - omnichannel
Source: eConsultancy

19. “She wasn’t last
quarter…”
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20. Speed of change.
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21. Speed of change.
21
Pilot and scale.

22. 22
If in doubt, start
something.

23. Speed of change.
23
Pilot and scale.
Watch the horizon.

24. 24

25. 24

26. Financial Services
Trends Report
2015
Plotting a trends radar
25
brilliantnoise.com/CXexchange

27. Disruptor threats.
26

28. 27
The next disruptor in
financial services may
not be from our sector.
Look at ApplePay or
Bitcoin…
Tracy Garrad, First Direct

29. 28
What Amazon
and Google get
right is customer
experience, UX,
data.
Paul Wishman, Group E-Commerce Director, LV=

30. 29
Read this.

31. Disruptor threats.
30
Disrupt yourself.

32. 31
“The goal is to
become HBO
faster than HBO
can become us.”
Ted Sarandos, Chief Content
Officer, Netflix

33. 32
Learn from
disruptors.
- GE FastWorks based on The Lean
Start-Up method.
- 40,000 employees trained in its
principles.
- The “next Six Sigma”.

34. 33
Learn from
disruptors.
- Coca-Cola’s 70:20:10.
- Growing culture of risk-taking
and innovation beginning in
marketing.
- Coke Founders Programme:
serial-entrepreneurs let loose
inside the company.

35. Inertia and entropy.
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36. Inertia and entropy.
35
Strong strategy
and culture
change.

37. “It is the individual,
operating at the
peak of his or her
powers, who will
revive our
organizations, by
reinventing both
self and them.”
Warren Bennis, Leadership
studies pioneer and professor at
USC

38. 37

39. 38
Strategy &
culture.
- TUI Travel PLC response to
online travel disruption.
- Strategy - vertical integration
and own the whole customer
experience.
- Digital investment - new
platforms.
- Simultaneous people strategy to
build digital leaders and
literacy.
Digital mindset

40. 39
“Broken UX means
a broken brand.”
Alun Williams, European
Head of Digital at TUI Travel.

41. 40
http://bit.ly/1B4OBEj
Efficiency is the new premium.

42. Thank you.
@amayfield
@brilliantnoise
brilliantnoise.com
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