Why Your Company Needs You To Attend Forrester’s Business Architecture & Process Summit

Alex Cullen

The pace of business change is accelerating. The reason why it is accelerating is the mushrooming of disruptive factors: your customers expecting anytime/everywhere access to you through their mobile devices, competitors leveraging big data technology to rapidly execute on customer-centric value propositions, and new market entrants with lean business models that enable them to outmaneuver your business.

Most companies deal poorly with disruptive change. If they are the “disruptor,” seeking to use these disruptive factors to steal market share, they often run without a plan and only after, for example, a poor mobile app customer experience, realize what they should have changed. If they are the firm being disrupted, the desire for a fast response leads to knee-jerk reactions and a thin veneer of new technology on a fossilized back-office business model.

This is where the value of business architects and business process professionals comes to play: you help your company plan and execute coherent responses to disruptive factors. That’s why your company needs you to attend Forrester’s Business Architecture & Process Forum: Embracing Digital Disruption in London on October 4 and Orlando, FL on October 18–19, 2012.

  • We’ll start with James McQuivey describing how technology is changing the playing field for disruption in his keynote: The Disruptor’s Handbook: How To Make The Most Of Digital Disruption.
  • We’ll look at how firms have used technology to rethink their operating models, eliminating low-value activities to focus on what their customers value in Craig Le Clair’s Implementing The Different In The Age Of Digital Disruption.
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Delivering A Unified Digital Experience

Kyle McNabb

Every day our clients flood us with inquiries on what to do about mobile and social software and smartphone and tablet adoption—not just as it pertains to their customers but to their employees too. Many firms seem to be scrambling to develop their mobile application strategy, spinning up new teams or working with outside agencies in a rush to introduce their own “killer app” or deploy some mobile capability on their CRM platforms. Smartphones and tablets are just the beginning of an explosion of digital touchpoints we will use to engage with each other, commercial enterprises, and public sector institutions. Gaming platforms, smart TVs, goggles, “magical mirrors”—there’s no end in sight.

 
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Products Are Going Digital -- What Leading Examples Are *You* Seeing Out There?

Randy Heffner

Here's a flash of the blindingly obvious: More and more products are going digital. You know this, but what I'm interested in is how they are going digital and to what degree. I see three major aspects: (1) the product itself becomes digital; (2) a physical product adds digital technology; and/or (3) processes and context around a physical product become digitally infused. Let me offer a sort of continuum of examples, and then I want to ask a question:

  • Music (nearly 100% digital). The greater part of music bought these days is in the form of a 100% digital product. 
  • Health band. With a health band (e.g., Fitbit, Nike FuelBand), I don't really care about the physical product, but I'll put up with it to get the digital benefit: lots of data (and more) about my workouts and health.
  • Cameras. A digital camera is a physical product that uses a combination of physical and digital technology, and I actually care about some of its physical design (e.g., lenses). It produces a 100% digital artifact (photos), and the process around the photos is digitally infused.
  • USB picture frame. Part physical, part digital. By replacing the center of a picture frame with a digital screen, I get a new twist on an old standby. But, working with the digital part still requires a high degree of physical manipulation (carry a USB drive to the frame, etc., etc.).
  • WiFi picture frame. Part physical, even more digital. The WiFi bit bumps it way above a USB picture frame in terms of seamless integration into a digital world. I can email a picture to the thing, or maybe tag a photo on Facebook and suddenly it shows up.
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One Fifth Of European Mobile Users Use Mobile Banking

Benjamin Ensor

The longer we spend researching mobile banking, the more convinced I become that mobile banking is the most important innovation, or cluster of innovations, in retail banking in years, arguably in a century. Here’s why I think mobile banking is a much bigger deal than cash machines (ATMs), credit cards or home-based online banking:

  • In developing economies that lack a dense infrastructure of branches, ATMs and fixed-line telecoms, mobile banking and payments are bringing millions of people into the formal banking system for the first time.
  • In developed economies mobile banking will become the primary way many, perhaps most, customers interact with their banks. Banks need mobile banking to provide a platform for mobile payments and to protect their retail payments businesses from digital disruption as mobile payments start to replace card payments in shops.
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Introducing Engaged TV: Xbox 360 Leads The Way To A New Video Product Experience

James McQuivey

What to do when a failed product concept still lingers, haunting every attempt at injecting it with new life? That's the problem with interactive TV, a term that grates like the name of an old girlfriend, conjuring up hopes long since unfulfilled yet still surprisingly fresh. Gratefully, it’s time to put old product notions of interactive TV behind us because this week Microsoft will release a user experience update to the Xbox 360 that will do for the TV what decades of promises and industry joint ventures have never managed to pull off.

Meet engaged TV. From now on, I will no longer need to plead with the audiences I address, the clients I meet, or my friends who still listen to me to imagine the future of TV. Because Microsoft has just built and delivered it: A single box that ties together all the content you want, made easily accessible through a universal, natural, voice-directed search. This is now the benchmark against which all other living-room initiatives should be compared, from cable or satellite set top boxes to Apple’s widely rumored TV to the 3.0 version of Google TV that Google will have to start programming as soon as they see this. With more than 57 million people worldwide already sitting on a box that’s about to be upgraded for free – and with what I estimate to be 15 million Kinect cameras in some of those homes – Microsoft has not only built the right experience, it has ensured that it will spread quickly and with devastating effect.

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The Battle For The Digital Wallet

Benjamin Ensor

Over the past couple of years I have been intrigued by the concept of a 'digital wallet' that will combine mobile payments with a variety of other benefits for customers. The more people I talk to, the more convinced I am that mobile digital wallets will mark a big shift in retail payments. A mobile digital wallet is more than just a mobile payment system because it combines:

  • Mobile payment. Digital wallets are likely combine several different payments systems into a single service, including mobile contactless payments, online (i.e. web) payments, and over-the-network mobile payments, making it easy for customers to make a variety of different types of payment from a mobile device.
  • Barcode scanning. Scanning barcodes or QR codes will let customers get more information about products, and let them pay for items on their phones before showing an on-screen receipt to leave the store.
  • Loyalty rewards. Instead of carrying (and sometimes forgetting) a separate loyalty card, digital wallets will track customers’ spending and offer merchant-funded rewards, either on the phone or at the point of sale.
  • Coupons and offers. Digital wallets are likely to offer customers coupons and location-based offers.
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Are You Ready To Disrupt Yourself?

James McQuivey

Or will someone else do it for you? That's the principal question I have after seeing the first week's worth of responses to our Digital Disruption Readiness Assessment survey. This 5-minute survey (available at forr.com/digitalreadiness) is already revealing critical vulnerabilities in corporate readiness. Consider the following data point:

It's not that people think their industries are safe from digital disruption -- quite the contrary. A full 76% see "significant opportunity" for digital to disrupt the industry they serve. Yet only a third think their companies will put the right resources in place to adapt to the changes that digital will bring. 

I spoke at a private conference outside of San Francisco on Tuesday and shared our digital disruption research with the room, elaborating on the Lose It! case study I posted on Mashable last week. Afterward, several entrepreneurs spoke to me about their own experiences as digital disruptors. One of them -- who self-identified as a Gen Yer who had recently received $15 million in funding for his startup -- explained to me that the cost of disrupting has fallen so low that he doesn't even think people like him need to go for the big funding anymore (not that he refused it when it came!). He said, "Especially in software, it only takes $30,000 to build anything in software today."

That's a digital disruptor. He's not bound by traditional economics, old-school partnership boundaries, or even antiquated notions of customer privacy. How are you going to compete with someone who thinks -- and acts -- like that?

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Take Our Digital Disruption Readiness Assessment

James McQuivey

Yesterday I took the main stage at our 2011 Consumer Forum here in Chicago to introduce the 500+ members of the audience to digital disruptors. You can read about the guts of my presentation in my blog post and learn more about the effect of digital disruptors in "Beware the Digital Disruptors," my Mashable piece from earlier this week. 

But what I really want you to do is participate in our Digital Disruption Readiness Assessment. It's found at forr.com/digitalreadiness and takes just five minutes to complete. We launched it yesterday as part of my speech, and many thanks to the hundreds of you who have already hit the survey (even those of you who just checked out the first page and didn't proceed; I want you back). The results are already fascinating and will only get better as we get more of you to participate, so please pass this along to your friends and let's collect enough data that I can share more nuggets as they come through. Here's a teaser:

You're very optimistic: 43% think it's very likely that "My company will be a top provider of its goods and services in five years." Yet only 21% of you think it's very likely that "My company will be more innovative than other firms in our industry or category over the next five years." Red flag: How will your company lead in products if it doesn't lead in innovation? 

In our assessment, we ask you to evaluate your industry, your company, and your individual readiness for (or vulnerability to) digital disruption. And here's the real kicker: When we get to the level of the individual, the answers are sure to trigger empathy.

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Meet The Digital Disruptors

James McQuivey

As I write this blog post, somewhere in the hotel below me our Forum team is busily preparing for the opening day of our 2011 Consumer Forum. There I will take the stage as the opening keynote presenter and, although I'm going to be talking about the future, it makes me think about the past. Because in 1999 I stood on a similar stage and offered my first Forrester keynote address, entitled "Meet the Digital Consumers."

Back on that stage, with the help of Forrester's Consumer Technographics survey data, I explained how consumers -- once digitally enabled -- would forever alter the way companies serve them. It's now 12 years later, and everything I said then came true, plus some. I didn't know then about YouTube, Facebook, or Groupon. But I did know that digital consumers would want more benefits, more easily, than they received in an analog world.

Today I'll stand on the stage and introduce people to a new entity: digital disruptors. Because while disruption is not new (just as consumers have always been with us), digital disruption is more powerful than before. It allows more individuals to bring ideas to market more cheaply than ever before. Below is a sneak peek at a key slide from the presentation I'll deliver in an hour's time.

Digital product disruption is better, stronger, faster than before

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Netflix Offers Lessons For Digital Disruption In Any Industry

James McQuivey

All through the past decade, observers in industry and on Wall Street have offered reasons to discount Netflix’s efforts. Supposed obstacles ranged from Blockbuster to scant streaming options to recent rate hikes on DVD renters. When will these people ever learn? We understand why people cheer against disruptive players like Netflix — it would be nice if we could pretend all these digital disruptions will go away. But they won’t, and neither will Netflix. We’ve written about this in our latest report that people who keep an eye on content strategy will find valuable (see our newest report on Netflix).

But it’s not really written for them – it’s written for people who take an even bigger view, as do we. These people – today’s product strategists – know that Netflix is a powerful example of disruptive digital product strategy and are eager to learn how to act like Netflix in their own context and industry. In our report, we extract three specific lessons from Netflix:

  • Control the product experience. The company that controls the user’s total product experience will win, whether retailer, producer, distributor, or platform. That company will have ultimate control over what options people have, what prices they pay, and what value they believe they are getting. It’s a big responsibility, but it’s one that people charged with product strategy must be willing to accept. Makers of products as wide-ranging as sleeping pills, running shoes, and auto insurance should all follow Netflix’s lead and control the total product experience they deliver.
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