0
suraj.mishra@aprikot.biz
Say Little – Do More
suraj.mishra@aprikot.biz
Say Little – Do More
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Good Afternoon. My name is SURAJ.
Wor...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Different Volks
Different Folks
for
1974
5
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
3
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
9
This Volkswagen.
now
26
2013
Unnawears.
My husband bought these
nerdtron Edison boxers from
‘The Gap’ a few days ago.
I like them.
The end.
56
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
CHOICE
What do consumer want?
What di...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Traditional Purchase Process
Traditio...
Stimulus
Advertisement
First Moment of Truth
At shelf In-store
Second Moment of Truth
Experience
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Something else happening ….
Second Mo...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Online research forever changed the g...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Ad location
TV
58%
Shop/business
57%
...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
So what does all this online research...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Second Moment
of Truth
Experience
Fir...
Stimulus
First Moment
of Truth
Second Moment
of Truth
TESTIMONIAL
When you were considering purchasing {PRODUCT}, what sources of information did you seek out to
help with the decision?
So...
45%!
42%!
39%!
32%!
29%!
75%!
64%!
60%!
53%!
40%!
36%!
60%!
53%!
Source of Information (Insurance)
When you were consideri...
56%!
38%!
33%!
23%!
21%!
54%!
49%!
41%!
39%!
30%!
23%!
22%!
26%!
24%!
21%!
20%!
Source of Information (Credit Card)
Emaila...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
This is the new World of ZMOT
50% 49%...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Average Number of Sources
5.8
7 7.3
9...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Gen X | Gen Y : Average Number of Sou...
Mobile as ZMOT 

will only grow in importance
61% 
of smartphone users call a
business after searching
45% 
of all consume...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
WHAT IS "
HAPPENING
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
640 Tweets
per second!
March 2006!
34...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
If
Facebook
was 
a 
country.
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
CHINA	
  
1.3	
  billion	
  
INDIA	
 ...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
0!
100!
200!
300!
400!
500!
600!
700!...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Feb 2005!
4 billion views
per day.!
1...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
NINETY-FIVE.The percentage of compani...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel© faberNovel 2013 ••• 6
IT’S THE FASTE...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
That’s	
  13X	
  more	
  than	
  the	...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
THESE WERE ALL
SOCIAL MEDIA
COMPANIES.
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
WHAT HAVE
THEY DONE! ?
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
WHAT ABOUT
DIGITAL
COMPANIES ?
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
§  Online Money Transfer (2000, USA)...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
§  Online Money Transfer (2000, USA)...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
AMAZON.COM
It is the world's largest ...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Did you know:
Market cap

US$ 105 bil...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Jeff Bezos
Every step was for Custome...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Will pay $5 to Walk-Out of Stores
Emp...
§  Scan the bar code of the product or !
§  Take a picture & type the product’s
name, or !
§  Say the name of the produ...
The customer will receive the
search results and the user
can decide if Amazon and its
merchant partners offer the
same pr...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Different Folks
for
Different Volks
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
How about
financial industry ?
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Car Insurance
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Aviva | AXA | Direct Asia | NTUC Inco...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
How about Banks?
FRANK.
EXPRESS
YOURSELF WITH
Easily manage your money !
through Online Banking!
Keep track of your
spending automatically!
Setup sub-accounts for
Savin...
New branch offers paperless
transactions, digitablets, financial
literacy workshops & more
“Bank by day, financial playgrou...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
needs; but on wants
must focus not ju...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
The CONSUMER
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
GEN X Y Z
You have heard of
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
C
The birth of
Generation
Control
Con...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
The consumers today are
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
I post on blogs and BBS because I can...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
I believe the bloggers and their idea...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Fortunately, banks are in a position ...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
personalized offers
targeted cross-se...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
BIG DATA & ANALYTICS
Spending
Pattern...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
§  sad
Mr. Ahmed
Leading Bank
Mr. Ah...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Mr. Ahmed is
renovating his kitchen
A...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Shares dinning
experiences
Likes 6-ri...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Using BIG DATA predictive analytical,...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Mr. Ahmed uses the additional credit ...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
The bank offers to hold in custody the...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
suraj.mishra@aprikot.biz
Say Little – Do More
suraj.mishra@aprikot.biz
Say Little – Do More
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
§  Meeting expectations is “boring”....
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
The most successful companies
recogni...
Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
Thank You
have a “great evening”
Sura...
Say little, do more.
Say little, do more.
Say little, do more.
Say little, do more.
Say little, do more.
Say little, do more.
Say little, do more.
Say little, do more.
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Say little, do more.

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I delivered this presentation at the Asia-Pacific Association of Banking Institute held in Kuala Lumpur on 7-8th October, 2013. My topic was Different Volks for Different Flocks. What do we need to do in the financial industry for our customers? I try to draw from the learnings from the Digital world. If you enjoyed the presentation, send me a small note. Suraj

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  1. 1. suraj.mishra@aprikot.biz Say Little – Do More suraj.mishra@aprikot.biz Say Little – Do More
  2. 2. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Good Afternoon. My name is SURAJ. Work: 23 years experience in banking, asset management and insurance. Job: Last 3 jobs > CEO for Prudential Fund Management in Singapore, Middle East and Malaysia (now called Eastspring) Education: MBA (Finance), B.Com (Hons), Chartered Wealth Manager (CWM), MFP, CIPM. Suraj Mishra MBA, B.Com (H), CWM, MFP, 23 Years – Experience Ex-CEO Prudential SG, UAE Author, Winning-the-Wealthy Day-to-Day Customers: 5 Children, ranging from 24 to 3 years old. Different strokes for Different folks. What now? Speaker, Author, Trainer and Consultant. Work on what I enjoy. 48 Years
  3. 3. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Different Volks Different Folks for
  4. 4. 1974
  5. 5. 5
  6. 6. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel 3
  7. 7. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel 9
  8. 8. This Volkswagen.
  9. 9. now
  10. 10. 26 2013
  11. 11. Unnawears. My husband bought these nerdtron Edison boxers from ‘The Gap’ a few days ago. I like them. The end.
  12. 12. 56
  13. 13. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel CHOICE What do consumer want? What did the consumer need? UNDER WEAR
  14. 14. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
  15. 15. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Traditional Purchase Process Traditionally, there have been three critical junctures within a customer’s purchase process where product must be successful: “stimulus”, “shelf”, “experience”. Second Moment of Truth Experience (Experience) - Once home with the product, the consumer uses it and forms an opinion of his or her purchase. First Moment of Truth At shelf In-store The consumer, driven by an advertisement or knowledge, visits your office and the combination of product packaging and salesperson claims, results in a purchase. Stimulus This is the moment when an advertisement/knowledge connects with a consumer in such a way that pushes him or her to visit a start the discussion. Advertisement
  16. 16. Stimulus Advertisement First Moment of Truth At shelf In-store Second Moment of Truth Experience
  17. 17. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Something else happening …. Second Moment of Truth Experience First Moment of Truth At shelf In-store Stimulus Advertisement ?
  18. 18. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Online research forever changed the game Query Volume, January 2008 – January 2012! Automotive +262% Real Estate +253% Travel +211% Legal Services +233% Source: Google Internal Data, 2011.
  19. 19. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Ad location TV 58% Shop/business 57% Magazines 48% Posters / Billboards 36% 66% have performed a mobile search after seeing an ad Source: Google and ipsos, “Our Mobile Planet: Understanding the Mobile Consumer, May 2012 Offline ad exposure leads to search
  20. 20. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel So what does all this online research mean to us? There is a new “Moment of Truth” to consider.
  21. 21. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Second Moment of Truth Experience First Moment of Truth Stimulus New Paradigm At the Bank or Meeting the Relationship Manager Experience Pre-Shopping / Evaluating Opening the Bank Account Advertisement or Call or meeting with Relationship Manager Zero Moment of Truth Zero Moment of Truth
  22. 22. Stimulus
  23. 23. First Moment of Truth
  24. 24. Second Moment of Truth TESTIMONIAL
  25. 25. When you were considering purchasing {PRODUCT}, what sources of information did you seek out to help with the decision? Source of Information (Banking) 40%! 36%! 30%! 28%! 28%! 61%! 59%! 58%! 48%! 36%! 51%! 43%! 39%! 31%! Adontelevision MailfromBank Readinformation Emailfrombank Noticedadonline Stimulus 40%! 36%! 30%! 28%! 28%! 61%! 59%! 58%! 48%! 36%! 51%! 43%! 39%! 31%! ZMOT Bankwebsite Searchengine Friends/family Comparison online Reviewsonline Talkedwithbanker in-person Readbrochurein bank Talkedwithcust. serviceonphone Lookedatsignage inBank 40%! 36%! 30%! 28%! 28%! 61%! 59%! 58%! 48%! 36%! 51%! 43%! 39%! 31%! FMOT Source: Google/Shopper Sciences, Zero Moment of Truth Study – Banking, Apr 2011 75% 91% 79%
  26. 26. 45%! 42%! 39%! 32%! 29%! 75%! 64%! 60%! 53%! 40%! 36%! 60%! 53%! Source of Information (Insurance) When you were considering purchasing {PRODUCT}, what sources of information did you seek out to help with the decision? Adontelevision MailfromInsurance Company Readinformation Company website Emailfrom InsuranceCo. Noticedadonline Searchengine Friends/family Comparison online Reviewsonline Talkedwithcust. serviceonphone Talkedto Representative in-person Stimulus ZMOT FMOT Source: Google/Shopper Sciences, Zero Moment of Truth Study – Insurance, Apr 2011 Customer serviceonline 79% 94% 79%
  27. 27. 56%! 38%! 33%! 23%! 21%! 54%! 49%! 41%! 39%! 30%! 23%! 22%! 26%! 24%! 21%! 20%! Source of Information (Credit Card) Emailatwork MailatHome Readinformation Company website Adonline AdonTV Searchengine Friends/family Comparison online Reviewsonline Talkedto Representative in-person Stimulus ZMOT FMOT Source: Google/Shopper Sciences, Zero Moment of Truth Study – Credit Card, Apr 2011 Customer serviceonline Readcomments TalkedtoCust. serviceonline in-person Signageat Bank Brochureat Bank 84% 81% 47%
  28. 28. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel This is the new World of ZMOT 50% 49% 38% 36% 31% 22% 22% 18% Searched online Talked with friends / family Compared product online Sought info. from manufacturers’ website Read product reviews Sought info. From retailers website Read comments Became friend/ follower/ ’liked’ a brand
  29. 29. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Average Number of Sources 5.8 7 7.3 9.8 8.6 8.9 10.2 10.8 11.7 14.8 18.2 14.7 Restaurant CPGHealth/ Beauty CPGGrocery OTCHealth CreditCard Investment Travel Banking Insurance Tech Automotive Voters Average # of Sources Used by Category Shoppers can range from using an average of 5.8 sources when choosing a Restaurant to a high of 18.2 sources used by Automobile shoppers. Shoppers use a range of sources, depending on type of decision Q2 When you were considering purchasing [PRODUCT], what sources of information did you seek out to help with your decision? Base:N=5,003 Investor use 10.8 and 11.7 sources respectively, when choosing a Banking and Insurance product. [Based on research in the USA] Source: Google/Shopper Sciences, Zero Moment of Macro Study, Apr 2011. www.google.com/think/insights. Google Confidential and Proprietary material.
  30. 30. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Gen X | Gen Y : Average Number of Sources Source 14.5 ZMOT 99% Source 11.2 ZMOT 90% Source 6.0 ZMOT 83% Source 13.5 ZMOT 94% Source 12.4 ZMOT 93% Source 9.6 ZMOT 96% Source 13.5 ZMOT 91% Source 5.5 ZMOT 79% Source 7.4 ZMOT 74% Source: Google/Shopper Sciences, Zero Moment of Truth Study – Apr 2011 18-34! 35-49! 50+! Banks! Insurance! Credit Card!
  31. 31. Mobile as ZMOT 
 will only grow in importance 61% of smartphone users call a business after searching 45% of all consumers use smartphones for in-store product research Source: Google TheMobilePlaybook.com 2012
  32. 32. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
  33. 33. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel WHAT IS " HAPPENING
  34. 34. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel 640 Tweets per second! March 2006! 340 million Tweets per day! 500 million registered users! IPO*! $10-11 billion! Market Value! *based on $17 per share private sale. Less than 10 years!
  35. 35. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel If Facebook was a country.
  36. 36. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel CHINA   1.3  billion   INDIA   1.1  billion   USA   300  million   Brazil    190  million   Facebook   1.1  billion   It will be the second largest populated country in the world. Feb 2004! 1.11 billion active users, globally.! Market Value! Crossed $100 billion in August 2013! Less than 10 years!
  37. 37. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel 0! 100! 200! 300! 400! 500! 600! 700! 800! 900! 1000! 1110! Aug' 04! Aug'08! Apr'09! Sep'09! Feb'10! Jul'10! Jan'11! May'11! Sep'11! Apr'12! Oct'12! Mar'13! First ! 4 years! Next 1 Years;! added 150 m.! Next 1 Years;! added 200+ m.! Next 1 Years;! added 350+ m.! Next 1 Years;! added 200+ m.!
  38. 38. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Feb 2005! 4 billion views per day.! 100 hours
  39. 39. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel NINETY-FIVE.The percentage of companies using LinkedIn to find and attract employees. 59% use Facebook and 42% use Twitter. 14 Dec 2002! 244 million monthly unique visitors! Market Value! US$ 32.56 billion!
  40. 40. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel© faberNovel 2013 ••• 6 IT’S THE FASTEST GROWING TALENT NETWORK. Source: “LinkedIn’s Road to IPO” – Mashable.com 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2 new members every second Members(inmillions) LinkedIn – Is Acquiring 2 members/second §  What are they doing?
  41. 41. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel That’s  13X  more  than  the  LIBRARY  of  CONGRESS  
  42. 42. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel THESE WERE ALL SOCIAL MEDIA COMPANIES.
  43. 43. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel WHAT HAVE THEY DONE! ?
  44. 44. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel WHAT ABOUT DIGITAL COMPANIES ?
  45. 45. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel §  Online Money Transfer (2000, USA) §  Oct 2002 > acquired by ebay for US$ 1.5 billion §  In EU, Paypal operates as a Lux-based bank. As of 2012 §  Payment volume : US$ 145+ billion; §  194 markets; §  232 million accounts. §  Customers can sent, receive and hold in 26 currencies worldwide. PayPal
  46. 46. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel §  Online Money Transfer (2000, USA) §  Oct 2002 > acquired by ebay for US$ 1.5 billion §  In EU, Paypal operates as a Lux-based bank. As of 2012 §  Payment volume : US$ 145+ billion; §  194 markets; §  232 million accounts. §  Customers can sent, receive and hold in 26 currencies worldwide.
  47. 47. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel AMAZON.COM It is the world's largest online retailer! | 152 million |
  48. 48. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Did you know: Market cap US$ 105 billion 1.7 X market cap eBAY Customers 152 billion 4 X # customers GROUPON Employees 51,300 13 X # more than FACEBOOK Revenue US$ 48 billion 27% more than GOOGLE Retail Brand #1 Better than WALMART In 15 years Amazon went from 1 category (books) to 16 main categories
  49. 49. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Jeff Bezos Every step was for Customer. “Be afraid of our customers, because those are the folks who have the money. Our competitors are never going to send us money.” §  CUSTOMER FOCUS §  FRUGALITY §  INNOVATION
  50. 50. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Will pay $5 to Walk-Out of Stores Empty-handed.
  51. 51. §  Scan the bar code of the product or ! §  Take a picture & type the product’s name, or ! §  Say the name of the product !
  52. 52. The customer will receive the search results and the user can decide if Amazon and its merchant partners offer the same product, including the price and the discount.!
  53. 53. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Different Folks for Different Volks
  54. 54. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel How about financial industry ?
  55. 55. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Car Insurance
  56. 56. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Aviva | AXA | Direct Asia | NTUC Income | MSIG | Great Eastern | The above image is from www.aviva.com.sg | Personally, I find dealing with Aviva Car Insurance is rewarding and professional.
  57. 57. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel How about Banks?
  58. 58. FRANK. EXPRESS YOURSELF WITH
  59. 59. Easily manage your money ! through Online Banking! Keep track of your spending automatically! Setup sub-accounts for Savings Goals! See how other people like you manage their money! Easily manage your money ! through Online Banking! Keep track of your spending automatically! Setup sub-accounts for Savings Goals! See how other people like you manage their money!
  60. 60. New branch offers paperless transactions, digitablets, financial literacy workshops & more “Bank by day, financial playground by night, ” “I-Designed-A-Bank” contest, former students from the NUS School of Design and Environment designed the DBS Remix branch. DBS Remix takes on a brand new platform. §  It offers all financial capabilities like most other branches, §  It also serves as a learning zone for the youth. §  It is an avenue to network, share ideas and spread creativity. The branch, §  Digital guest book available for customers and clients to provide comments and feedback. §  No marketing brochure. Paperless branch, DBS Remix will send by email. §  Embrace social media. Facebook. Everything, from the latest news to cyber advertising, in Facebook. §  Digitablets, touch screens, an e-queue system and an infotainment screen, have all been installed to make the experience a memorable one.
  61. 61. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel needs; but on wants must focus not just on The ORGANISATION
  62. 62. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel The CONSUMER
  63. 63. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel GEN X Y Z You have heard of
  64. 64. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel C The birth of Generation Control Content Communicate Creativity Channel Creative Class Community Connected Co-Creators Cash Consumer 2.0 Conversation
  65. 65. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel The consumers today are
  66. 66. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel I post on blogs and BBS because I can express myself to millions of people at once. I like the rush, and I feel empowered. “ ” Source: http://china.seekingalpha.com/article/30979
  67. 67. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel I believe the bloggers and their ideas. They are my friends and will tell me the truth, unlike advertisements. “ ” Source: http://china.seekingalpha.com/article/30979
  68. 68. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Fortunately, banks are in a position to take advantage of BIG DATA & ANALYTICSto generate new revenue and amazing customer relationship.
  69. 69. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel personalized offers targeted cross-sell improved customer service
  70. 70. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel BIG DATA & ANALYTICS Spending Pattern Behaviour Channel Usage Product Portfolio “ “ Bank Interaction Credit Information Social Media Customer Profitability “deliver offers at point of decision” More insight Deeper insight Faster insight
  71. 71. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel §  sad Mr. Ahmed Leading Bank Mr. Ahmed is a customer Housing Loan Checking Account Saving Account Credit Card
  72. 72. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Mr. Ahmed is renovating his kitchen And he buys a new set of chef Knives The bank recognizes that Mr. Ahmed has made a number of household purchases lately, and analyzes his financial and transactional data, including …………
  73. 73. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Shares dinning experiences Likes 6-ring Gas cooker Visits gourmet restaurants Loves to cook Spending Pattern Income Saving Balance Available Credit Loans Credit Score ⏏ Level of Risk Social Media Bank will also look at Mr. Ahmed’s related activities in Social Media (Public Information)!
  74. 74. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Using BIG DATA predictive analytical, the bank has the following information to take a decision: 1.  Mr. Ahmed wants a 6-ring Gas Cooker (Professional Quality) 2.  Stove will cost around USD 2,500 3.  Credit History of Mr. Ahmed has been good 4.  He has exhausted his credit limit, due to the latest kitchen renovation. 5.  There is good possibility that the appliance store will offer Mr. Ahmed credit (Store Credit – Courts). 6.  The banks compares with other individuals similar to Mr. Ahmed’s profile. The bank wants to ceased this business opportunity before the store credit is offered to Mr. Ahmed. The bank send Mr. Ahmed an offer to extend his line of credit: OFFER $2,500 at 0% for purchases made in the next 24 hours. Review Terms Accept
  75. 75. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Mr. Ahmed uses the additional credit to buy the 6-ring Gas Cooker (Professional Quality).
  76. 76. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel The bank offers to hold in custody the copy of the receipt and the warranty. OFFER Protect your purchases! Extend your warranty for $100 for 2 years Review Terms Accept ALERT Protect your purchases! Archive receipts and warranty with us. OK to Proceed The bank offers an extended warranty for a $100 for 2 additional years.
  77. 77. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
  78. 78. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel
  79. 79. suraj.mishra@aprikot.biz Say Little – Do More suraj.mishra@aprikot.biz Say Little – Do More
  80. 80. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel §  Meeting expectations is “boring”. §  Customers view products/services as “commodities”. We need to offer innovative and “engaging experiences” that will consistently excite and delight customers. §  Customers expect to receive greater value for their loyalty, heightening their wants and expectations for products, services and overall experiences. M E E T I N G VS. EXCEEDING EXPECTATIONS
  81. 81. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel The most successful companies recognize that they are engaged in a continuous battle for the hearts and minds of customers. Deliver not just what you promised; the key to deliver more than they were expecting. X Y C Z Recognize EXPECTATIONEXPECT
  82. 82. Waves of Change Oceans of Opportunities 7 – 8 October 2013 Hilton Kuala Lumpur Hotel Thank You have a “great evening” Suraj Mishra suraj.mishra@aprikot.biz +65 97916144
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