2. 2TELSTRA DIGITAL | GERD SCHENKEL | 31 OCT 2012 |
Opportunities in the digital economy
Fund forum 2013, Monte Carlo
Gerd Schenkel
3. 3OPPORTUNITIES IN THE DIGITAL ECONOMY | GERD SCHENKEL | MAY 2013 |
Source: Bloomberg
IN THE BEGINNING…
4. OUR WORK & LIVES, GOING DIGITAL
4TELSTRA DIGITAL | GERD SCHENKEL | 31 OCT 2012 |
Source: Go-Globe.com 2012 OPPORTUNITIES IN THE DIGITAL ECONOMY | GERD SCHENKEL | MAY 2013 | 4
5. INFORMATION EXPLODING
5TELSTRA DIGITAL | GERD SCHENKEL | 31 OCT 2012 |
Source: Mary Meeker OPPORTUNITIES IN THE DIGITAL ECONOMY | GERD SCHENKEL | MAY 2013 | 5
0
1
2
3
4
5
6
7
8
9
2005 2006 2007 2008 2009 2010 2011 2012 2013E 2014E 2015E
Digital information produced and shared, Zettabytes
x2
x2
6. 6OPPORTUNITIES IN THE DIGITAL ECONOMY | GERD SCHENKEL | MAY 2013 |
NEW BUSINESS MODELS:
7. 7TELSTRA DIGITAL | GERD SCHENKEL | 31 OCT 2012 |
NEW OPPORTUNITIES FOR
OLD BRANDS
8. WE’RE ONLY AT THE BEGINNING
8OPPORTUNITIES IN THE DIGITAL ECONOMY | GERD SCHENKEL | MAY 2013 |
1831
Electricity
1876
Telephone
1879
Light-bulb
1888
Radio
Waves
1896
Wireless
Telegraph
1974
IP
Protocol
2004
Facebook
1993
Internet
browser
1903
Powered
Flight
? ??
1998
Google
INDUSTRIAL
REVOLUTION
DIGITAL
REVOLUTION
39
years
10. UBANK: A NEW KIND OF BANK
10OPPORTUNITIES IN THE DIGITAL ECONOMY | GERD SCHENKEL | MAY 2013 |
Source: AFSC Gerd Schenkel UBank Feb 2010
• Started from ground up by National
Australia Bank in 2008
• Aimed at new customer segment
• New brand
• Selective, niche product set
• Digital centric operating model
• Seemingly impossible
• Legacy processes & technology
• Controversial model, potential to
alienate colleagues
• Customer segment proved very valuable
• High average balance (~3x)
• Loyal (80%+ rollover)
• Low cost to serve (90%+ digital)
• Niche targeting strategy worked
• >90% of balances new to bank
• Timing was everything
• GFC made retail deposits very
valuable
• Now
• ~$16-17bn deposits (20% of parent)
• ~$2bn mortgages
11. THE FIVE MINUTE ONLINE BANK
ACCOUNT
11OPPORTUNITIES IN THE DIGITAL ECONOMY | GERD SCHENKEL | MAY 2013 |
Source: IT Wire 2009
12. A NEW LEVEL OF ENGAGEMENT
12OPPORTUNITIES IN THE DIGITAL ECONOMY | GERD SCHENKEL | MAY 2013 |
Source: AFSC Gerd Schenkel UBank Feb 2010
13. HAVING FUN WITH BANKING?
UBANK “TAX GANGSTA”
13OPPORTUNITIES IN THE DIGITAL ECONOMY | GERD SCHENKEL | MAY 2013 |
14. 14OPPORTUNITIES IN THE DIGITAL ECONOMY | GERD SCHENKEL | MAY 2013 |
TELSTRA IS CONNECTING WITH
CUSTOMERS
15. 15OPPORTUNITIES IN THE DIGITAL ECONOMY | GERD SCHENKEL | MAY 2013 |
SMALL THINGS MAKE A
DIFFERENCE: “USEABILITY IS KING”
16. 16OPPORTUNITIES IN THE DIGITAL ECONOMY | GERD SCHENKEL | MAY 2013 |
GOING WHERE CUSTOMERS ARE
17. 17OPPORTUNITIES IN THE DIGITAL ECONOMY | GERD SCHENKEL | MAY 2013 |
CUSTOMERS HELPING CUSTOMERS
18. 18OPPORTUNITIES IN THE DIGITAL ECONOMY | GERD SCHENKEL | MAY 2013 |
MANAGED INVESTMENTS AND
ADVICE ARE NOT IMMUNE
19. 19OPPORTUNITIES IN THE DIGITAL ECONOMY | GERD SCHENKEL | MAY 2013 |
1. GET SERIOUS ABOUT YOUR WEBSITE NOW
2. BE OPEN TO LEARNING THE RULES
3. DONT SPEND TOO MUCH ON I.T. UPFRONT
4. YOU DONT NEED A “SOCIAL MARKETING STRATEGY”
(& DON’T OUTSOURCE YOUR TWITTER ACOUNT)
5. EXPECT TO FEEL LIKE YOU’RE LOSING CONTROL, BUT TRUST THAT YOU WILL GAIN IN
THE END
6. WATCH FOR COMPETITION FROM OUTSIDE YOU’RE TRADITIONAL CATEGORY
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GETTING STARTED…
20. WANT TO KNOW MORE?
20
www.tinyurl.com/
leadershipdigitaleconomy
OPPORTUNITIES IN THE DIGITAL ECONOMY | GERD SCHENKEL | MAY 2013 |