unleashing the next wave of innovation
DESCRIPTION
James McQuivey discusses digital innovation to deliver delightful experiences.TRANSCRIPT
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Digital Disruption: Unleashing The
Next Wave of Innovation
James L. McQuivey, Ph.D.
Vice President, Principal Analyst
@jmcquivey
October 2014 | Prepared for Delight 2014
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© 2013 Forrester Research, Inc. Reproduction Prohibited 2© 2013 Forrester Research, Inc. Reproduction Prohibited
Disruption is accelerating
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What used to stop digital disruption
1 People will never do that
2 It will cost too much to do
1We don’t know how to disrupt
ourselves
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Digital disruptors are better, stronger, faster
› They will build Better product experiences
› That create Stronger customer
relationships
› Bringing it all to market Faster
Everyone in every profession can – and must – do this, too
Faster
Better
Stronger
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How digital disruption economics work
Old disruption Digital disruption
10 xthe innovators
1/10ththe cost
100Xthe power
Source: October 27, 2011, “The Disruptor’s Handbook” Forrester report
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Step 2: Generate more ideas more quicklyBY INNOVATING THE ADJACENT POSSIBLE
?
Don’t build the future; build the next thing
people really need and let the future find you.
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Step 3: Deliver total product experiences
Total product experiences go beyond
traditional boundaries — onto new
platforms, during new moments,
leading to deeper, more measurable
customer engagement and satisfaction
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Mirror, Mirror on the wall…Digital relationships extend the product experience
Eyes Hair
Lips Skin
Image source: August 4, 2011, “Innovating The Adjacent Possible” Forrester report
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Mirror, Mirror on the wall…Digital relationships extend the product experience
Eyes Hair
Lips Skin
Call
Kerry
Image source: August 4, 2011, “Innovating The Adjacent Possible” Forrester report
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Mirror, Mirror on the wall…Digital relationships extend the product experience
Eyes Hair
Lips Skin
Call
Kerry
Image source: August 4, 2011, “Innovating The Adjacent Possible” Forrester report
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For which companies is the Magic Mirror an adjacent product experience?
› Media companies have the content
› Retailers sell the products
› Manufacturers want the customer loyalty
› Platforms want to enable all of it
Whoever holds the customer
relationship…whoever consistently
delights the customer will win
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What will those experiences look like?Someday… Today
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There are dozens of experience
points to design here – some to
invent completely
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The disruptor will get there first
› See the consumer need today
› Comprehend the experience in today’s context
› Foresee how it will expand in the future
› Design today with that “next” consumer in mind
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P
S
E
The spoils will go to those who can disrupt – the experience, the productYOU MUST HAVE A DISRUPTOR’S:
nergy
kills
olicies
We conducted a global survey of executives
to see if they are ready.
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People see digital coming but aren’t ready for it
PERCENT THAT AGREE WITH EACH STATEMENT (TOP-2 BOX)
89%
65%
38%
32%
There is significant opportunity for digitaltools and experiences to change the
industry we serve
People in our company are excited aboutthe changes that digital will bring to our
company
People in our company have the skillsneeded to adapt to the changes that digital
will bring to our company
Our company has policies and businesspractices that will enable us to adapt to the
changes that digital will bring to ourcompany
Source: June 2012 Digital Readiness Assessment
Detailed analysis in new report, Assess Your Digital Disruption Readiness Now, March 2013
P
S
E
49%
24%
Release the disruptor within
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Thank you
#digitaldisruption
James L. McQuivey, Ph.D.
VP, Principal Analyst
@jmcquivey