From Intent to Expression: The Meaning of Payments in the Web 2.0 World

From Intent to Expression #w2eExpression Web 2.0 Expo/NY October 11, 2011 Ben Saren - Vice President, Marketing - Litle & Co. www.litle.com - @bsaren

Leading to a Revolution • In addition to the many digital revolutions happening, there’s another kind of revolution happening. • It’s not just the Middle East, Greece, Spain - it’s in the US too, the entire ﬁnancial industry is facing a revolt - a shift of power. • A Financial Services Revolution has begun. #w2eExpression © Copyright Litle & Co., LLC. 2011. All rights reserved.

The Data Frame• The theme of next week’s Web 2.0 Summit in SF is “The Data Frame.” - From Web 2.0 Summit 2011 blog: The Data Frame #w2eExpression © Copyright Litle & Co., LLC. 2011. All rights reserved.

The Data Frame• The theme of next week’s Web 2.0 Summit in SF is “The Data Frame.”• In his “What is Web 2.0” paper, Tim O’Reilly said, “Data is the next Intel Inside.” - From Web 2.0 Summit 2011 blog: The Data Frame #w2eExpression © Copyright Litle & Co., LLC. 2011. All rights reserved.

The Data Frame• The theme of next week’s Web 2.0 Summit in SF is “The Data Frame.”• In his “What is Web 2.0” paper, Tim O’Reilly said, “Data is the next Intel Inside.”• “Data is not only the web’s core resource, it is at once both renewable and boundless.” - From Web 2.0 Summit 2011 blog: The Data Frame #w2eExpression © Copyright Litle & Co., LLC. 2011. All rights reserved.

The Winning Field Goal• “We know that those who best leverage data will win.”• “Consumers now create and consume extraordinary amounts of data. Hundreds of millions of mobile phones weave inﬁnite tapestries of data, in real time. Each purchase, search, status update, and check-in layers our world with more of it. How our industries respond to this opportunity will deﬁne not only success and failure in the networked economy, but also the future texture of our culture.” - From Web 2.0 Summit 2011 blog: The Data Frame #w2eExpression © Copyright Litle & Co., LLC. 2011. All rights reserved.

dis-ruhp-shuhn • There’s increasing disruption in the traditional payments industry. • There’s increasing disruption in digital payments. • PayPal really shook things up years ago. Square is doing the same thing today. But this is just the beginning.This disruption is not only changing the traditional ﬁnancial services industry,it’s altering how businesses look at the real value behind each consumerpayment. #w2eExpression © Copyright Litle & Co., LLC. 2011. All rights reserved.

The Democratization of Finance Just as Web 2.0 democratized the web, threatened and changed the media industry forever, the democratization of ﬁnance has just begun. It’s a revolution. #w2eExpression © Copyright Litle & Co., LLC. 2011. All rights reserved.

Payments Intelligence• The faceless nature of e-commerce gives payments a level of meaning previously undiscovered - they’re not intentions, as with a click - they are expressions, the most meaningful statements about your buyers.• The most disruptive opportunity facing e-commerce today is leveraging purchase and payments data to better optimize a business’ top line and bottom line, optimize marketing, optimize competitive strategies.• I call this Payments Intelligence. #w2eExpression © Copyright Litle & Co., LLC. 2011. All rights reserved.

Redeﬁning “Know your customer”It’s incumbent on Web 2.0 businesses,particularly those with heavy reliance onrecurring revenue and recurring digitalpayments, to look through a paymentsintelligence lens to both derive and apply whatpayments say about their relationships - past,present, and future - with consumers. #w2eExpression © Copyright Litle & Co., LLC. 2011. All rights reserved.

Mission Critical• Understanding and measuring information about your buyers is the single most important thing you can do for your business.• Payments Intelligence is the closest and most critical touchpoint you have with your buyers.• Privacy is more critical than ever.• Not all merchants are created equal. Those who embrace these realities will not only survive the revolution, but they’ll thrive. #w2eExpression © Copyright Litle & Co., LLC. 2011. All rights reserved.

What’s the Intel?• Payments Intelligence allows online merchants to understand... • Who are the profitable customers? What’s their profile? • How do you acquire those customers most effectively, inexpensively? • How do you avoid the unprofitable customers? • Once acquired, how do you increase the annual profits those customers generate for the business? • How can you keep them longer as customers (CLV)? #w2eExpression © Copyright Litle & Co., LLC. 2011. All rights reserved.

Payments Value Chain !"#$%&&()*+,-./#(01+2-3%#+45-( !"#$%&%() *+,+)() !-.%() 4056+),3 *+,$.)&83/0.1+)23 !""+7,0)"+3 *+"$..%)234056+),&3 9;0.2+<0"1&3 90)"+::0()3 Various levers need pushing and pulling at each of these stages. #w2eExpression © Copyright Litle & Co., LLC. 2011. All rights reserved.

Levers• What are you trying to achieve with these levers? • Increase revenue • Decrease cost • Decrease risk • Do “what is right” for customers, employees • Optimize marketing • Develop competitive strategies #w2eExpression © Copyright Litle & Co., LLC. 2011. All rights reserved.

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From Intent to Expression: The Meaning of Payments in the Web 2.0 World

by Ben Saren on Oct 10, 2011

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From Intent to Expression: The Meaning of Payments in the Web 2.0 World — Presentation Transcript