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Digital entrepreneurship for independent financial agents.

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Digital entrepreneurship for independent financial agents.

  1. 1. Digital & entrepreneurship
  2. 2. Hi! My name is Bart. I work for digital 
 agency Find me on : @netlash.
  3. 3. - 4 basic forces are shaping digital today - independent agents have the advantage - adapt your core strengths to new reality - be the entrepreneurs I know you are…
  4. 4. Internet.
  5. 5. Internet. It’s not about e-commerce or websites or technology.
  6. 6. Internet. It’s not about e-commerce or websites or technology. It’s about changed behaviour.
  7. 7. First we change technology. Then technology changes us.
  8. 8. Let’s start with a story.
  9. 9. I worked at a bank end of the 90’s.
  10. 10. I worked at a bank end of the 90’s. Do you remember the 90’s?
 We still used these:
  11. 11. I worked at a bank end of the 90’s. I had to visit lots of clients in unknown places. Do you remember the 90’s?
 We still used these:
  12. 12. Remember these?
  13. 13. I prepared the night before by printing out lots of route descriptions.
  14. 14. Now I have this.
  15. 15. I don’t even think about preparing anymore. The information comes to me, frictionless, the moment I need it. Now I have this.
  16. 16. My behaviour changed. Induced by technology, I changed the way I prepare for driving.
  17. 17. ICT = Information and Communications Technology Emphasis on Information & Communication, not on Tech. The revolution is in I & C, not in T.
  18. 18. Information is always, anywhere and frictionless available.
  19. 19. Remember how we used to plan 
 ‚going out’ in the 80’s?Weeks ahead.
  20. 20. Now we have this. We don’t plan anymore. Connectivity is always, anywhere and frictionless available.
  21. 21. First we change technology. Then technology changes us.
  22. 22. Information is always, anywhere and frictionless available.
  23. 23. Behaviour change.
  24. 24. Another story.
  25. 25. I had to buy a washing machine. When I left school, I rented an apartment to live with my girlfriend.
  26. 26. I had to buy a washing machine. When I left school, I rented an apartment to live with my girlfriend. I know nothing
 about washing 
 machines.
  27. 27. This is how I came to a decision:
  28. 28. Supplier 1995 I went to a retailer, because they had a cool radio commercial and theme song.
  29. 29. Supplier Problem 1995 I explained my ‚problem’ to the sales guy: starting family, low budget, no kids.
  30. 30. Supplier Problem Solution 1995 He suggested 3 brands of washing machines that fitted my needs.
  31. 31. Supplier Problem Solution Product 1995 I chose the brand that best fitted my needs and feelings.
  32. 32. Supplier Problem Solution Product 1995 2014 19 years later, that washing machine broke down. I had to buy a new one.
  33. 33. Supplier Problem Solution Product Problem 1995 2014 I started with Googling my ‚problem’: family with 3 dirty kids, silence is important.
  34. 34. Supplier Problem Solution Product Problem Solution 1995 2014 I read reviews, descriptions, social info by experts and people like me.
  35. 35. Supplier Problem Solution Product Problem Solution Product 1995 2014 I chose the brand that best fitted my needs and feelings based on that information.
  36. 36. Supplier Problem Solution Product Problem Solution Product Supplier 1995 2014 Then I decided where to buy it, based on a mix of price, convenience and service.
  37. 37. Supplier Problem Solution Product Problem Solution Product Supplier 1995 2014 New decision funnel
  38. 38. Supplier Problem Solution Product Problem Solution Product Supplier 1995 2014 New decision funnel You want to be as high as possible in the decision funnel.
  39. 39. Supplier Problem Solution Product Problem Solution Product Supplier 1995 2014 New decision funnel Branding You want to get that cool theme song in their heads.
  40. 40. Supplier Problem Solution Product Problem Solution Product Supplier 1995 2014 New decision funnel Branding Content
 Marketing You want to be found in that research phase.
  41. 41. New decision funnel, because new availability of information.
  42. 42. New decision funnel, because new availability of information. In 1995, I had to go to a library to do research.
  43. 43. New decision funnel, because new availability of information. In 1995, I had to go to a library to do research. In 2005, I had to go to a special room in my house.
  44. 44. New decision funnel, because new availability of information. In 1995, I had to go to a library to do research. In 2005, I had to go to a special room in my house. In 2015, I can do research anytime anywhere.
  45. 45. (But ICT revolution will continue…) Caution! There is no complete frictionless information yet!
  46. 46. Supplier Problem Solution Product Problem Solution Product Supplier 1995 2015 Information friction Information frictionless
  47. 47. Supplier Problem Solution Product Problem Solution Product Supplier 1995 2015 Information friction Information frictionless Still some friction in information!
  48. 48. Supplier Problem Solution Product Problem Solution Product Supplier 1995 2015 Information friction Information frictionless Low involvement High involvement I’m only using the research decision funnel for high involvement items. Still some friction in information!
  49. 49. Supplier Problem Solution Product Problem Solution Product Supplier 1995 2015 Information friction Information frictionless Low involvement High involvement I’m only using the research decision funnel for high involvement items. Still some friction in information! Not prepared to do research for low involvement items.
  50. 50. Supplier Problem Solution Product Problem Solution Product Supplier 1995 2015 Information friction Information frictionless Low involvement High involvement I’m only using the research decision funnel for high involvement items. Not prepared to do research for low involvement items.
  51. 51. Supplier Problem Solution Product Problem Solution Product Supplier 1995 2015 Information friction Information frictionless Low involvement High involvement Tap into the right decision funnel!
  52. 52. Supplier Problem Solution Product Problem Solution Product Supplier 1995 2015 Information friction Information frictionless Low involvement High involvement Tap into the right decision funnel! But know that the ICT revolution will keep moving products to the new model.
  53. 53. Behaviour change.
  54. 54. Behaviour change. New decision funnel.
  55. 55. 4 basic forces: 1. changed behaviour
  56. 56. ‣ research not branding ‣ don’t sell, help to buy ‣ advise in decision ‣ this is your core strength! ‣ but use it in all channels Changed behaviour
  57. 57. But will it be strictly digital?
  58. 58. The SiliconValleyVC’s are digitizing your business.
  59. 59. Investing heavily in startups.
  60. 60. The hoodies are coming…
  61. 61. You’re digital. Face it. Finance is digital. There’s nothing more bits and bytes than moving money around…
  62. 62. So you have to follow the native properties of internet.
  63. 63. Platform thinking
  64. 64. “Small pieces loosely joined”
  65. 65. Metcalfe’s law.
  66. 66. In a network, the value is in the connections, not the nodes.
  67. 67. This is why the Apple ecosystem, Facebook (Instagram/Messenger/Whatsapp) and even P2P chat apps like Snapchat are working hard to become a platform and an aggregation layer.
  68. 68. Facebook owns 4 out of top 5 social networks. Facebook unbundles itself, driven by dedicated UX.
  69. 69. WeChat (Tencent) from chat app to payment platform.
  70. 70. In a digital user-centered world, winners own the connection with the end-user (UX).
  71. 71. Alibaba, the most valuable retailer, has no inventory. Uber, the world’s largest taxi company, owns no fleet. AirBnb, the largest accommodation provider owns no real estate. Facebook, the most popular media owner, creates no content. Platform companies, owning the front-end.
  72. 72. Disrupt the disruptors.
  73. 73. There’s always room for a front-end layer on top. You already own the connection with the end-user! (For now.)
  74. 74. 4 basic forces: 1. changed behaviour 2. front-end rules
  75. 75. ‣ own the front-end: connection with the user ‣ this is your core strength… ‣ but use it in all channels Front-end rules
  76. 76. So it will be strictly digital?
  77. 77. Digital trends? Internet is becoming like electricity.
  78. 78. Electricity was a thing an sich, a freak show on a stage. Electricity as a show.
  79. 79. Now we don’t see electricity anymore. We see light. We see cooking. We see tv’s and laptops.
  80. 80. This is happening to internet.
  81. 81. When asked how much time a day they spend on the internet, youngsters say less hours than 5 years ago.
  82. 82. When asked how much time a day they spend on the internet, youngsters say less hours than 5 years ago. They’re not.
  83. 83. When asked how much time a day they spend on the internet, youngsters say less hours than 5 years ago. It just feels less - they don’t know they’re online anymore. They’re not.
  84. 84. In a few years time, saying 
 „I’m going on the internet” 
 will sound as silly as saying 
 „I’m going to electricity”.
  85. 85. The end of internet as a different ‚space’. ‣ away from ‚cyberspace’ ‣ added to every object ‣ tightly integrated ‣ utility
  86. 86. Internet is moving away from the surface. It is becoming invisible, plumbing.
  87. 87. 4 basic forces: 1. changed behaviour 2. front-end rules 3. internet is disappearing
  88. 88. ‣ users don’t discern on- versus offline ‣ be where the user is ‣ this is your core strength… ‣ but use it in all channels Internet is disappearing
  89. 89. Be user centered
  90. 90. “Jobs to be done” Why is the user ‘hiring’ your service?
  91. 91. Don’t focus on the product. Get closer to the transaction. ‣ I want to buy shoes (not handle the debit card). ‣ I want to own a home (not take out a loan). ‣ I want to manage my budget (not look at my account). Build the User Experience around the transaction. Understand the final need of the user
  92. 92. Simple Can I afford these shoes?
  93. 93. Digital does not mean ‘computer- only’. The human smile is needed! Embed humans in the interface.
 Make the user experience as human as possible.
  94. 94. Be user centric.
  95. 95. Act contextual
  96. 96. The age of context
  97. 97. Data transforms into information or advertising, depending on the context of the consumer. The age of context
  98. 98. If I want to buy a car, and I find a bunch of paper advertising for diapers in my mailbox - they go straight into the bin. If I want to buy a car, and I find a bunch of paper advertising for cars in my mailbox - I take them with me to the couch and read them all night. The age of context
  99. 99. Data transforms into information or advertising, depending on the context of the consumer. The age of context
  100. 100. The age of context spam advertising info less context more context
  101. 101. ‣ demographic (segmentation) ‣ search word ‣ location ‣ friends ‣ browser history ‣ activity (work, home, bar) ‣ … The age of context
  102. 102. 4 basic forces: 1. changed behaviour 2. front-end rules 3. internet is disappearing 4. user-centric context
  103. 103. ‣ know the user ‣ understand his context ‣ this is your core strength… ‣ but use it in all channels User-centric context
  104. 104. What you should remember: Digital is changing us. Don’t focus on technology. Focus on your core strenghts. But adapt to new channels. Be entrepreneurial.
  105. 105. Conversation
  106. 106. Questions? Questions?
  107. 107. Questions? Questions? bart@wijs.be @netlash
  108. 108. Wijs bvba Voorhavenlaan 31/3
 9000 GENT 09 335 22 80
 09 330 09 83 http://wijs.be
 info@wijs.be BE 0473.071.275

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