Apple just announced that it has cumulatively sold more than 170 million iPads since the product first debuted in 2010. For context, if iPad Nation were a country, it would be roughly tied at No. 7 with Nigeria, set to eclipse Pakistan next quarter and Brazil the quarter after that.
This boldfaced proof of digital disruption’s power to upset markets has left companies in every industry struggling to keep up with a consumer population that is happily disrupting itself. For someone who spends his days researching digital disruption and modeling its effects, on the one hand, this is good news: Everybody believes in digital disruption. On the other hand, it raises a very real problem: Nobody knows what to do about it.
Today when I meet with companies bent on becoming digital disruptors, one of their first questions is no longer, "How much time do we have until we have to respond?" but rather, "How do we get started right now?"
There is no single answer to this. Some companies are best served by locating their disruption initiative outside the company in an innovation lab where it can quickly generate disruptive momentum. Others can get a boost of internal support by building an internal innovation team and drawing resources from a supportive corporate structure. And some companies can launch multiple focused disruptive initiatives across many different groups in the organization, each one tasked with a specific disruptive goal, as long as the culture of the company is ready to incubate the efforts.
At Forrester we spend a lot of time analyzing the impact of digital disruption on business, technology and marketing. We even wrote a book on the subject. But don't just take our word for it. At Forrester's Forum For Marketing Leaders EMEA, MickePaqvalén, Founder, Chairman and Entrepreneur at Kiosked- a platform that turns any online content, images, videos and applications into interactive and viral storefronts - will present his view on what it takes to think, and act, like a (digital) disruptor. The below Q&A gives a summary of my conversation with Micke as a preview to his session on day two of our Forum, which takes place in London on May 21 - 22.
Q: You've founded and sold several successful start-ups. How do you tell the difference between real innovation opportunities and over-hyped ideas?
A: When I hear about new business ideas I always ask one question: How does it benefit everyone involved or which existing problem does it solve? That’s it. It’s a simple test, but if it fails the business will fail. If a business idea is not beneficial it is an over-hyped idea, which sadly happens too often as well. Hype is an important factor of business but I would rather create long-lasting impact.
Mobile has gotten a lot of attention at banks recently. In fact, other teams in a firm’s organization are starting to feel like Jan Brady, the voices in their heads chanting “Mobile Mobile Mobile!”
But there’s good reason for the increased focus on mobile banking efforts: mobile is the most important strategic change in retail banking in over a decade. It is shifting your customers’ behavior, raising customers’ expectations, and opening up new opportunities for banks, their competitors, and new disruptors.
So how can strategists at banks assess the current and future state of the mobile banking market? How can they plan their own mobile banking roadmap? What do they need to successfully execute these plans? And how will they continue to improve and enhance their mobile offerings going forward?
Forrester’s new Mobile Banking Strategy Playbook seeks to answer all of these questions, drawing on mountains of research and deep dives into data in order to give eBusiness teams at banks a complete framework for building and maintaining a world-class mobile banking strategy. The playbook will include 12 chapters (plus an Executive Summary) that cover different aspects of mobile banking – and many of those chapters are already live. These chapters outline how to develop a successful mobile banking strategy. Specifically, we recommend that mobile strategists at banks:
I swear I've been here before. Not here, as in here at CES, where I spent the week checking my product assumptions against the actual offerings arrayed on the showfloor. But here, as in at a crucial moment in time when a single industry rushes to push a massively expensive, relatively unnecessary technology on unsuspecting consumers. That's the case with Ultra HD at CES 2013. Formerly known as 4k TV (because of the rough number of horizontal pixels employed in the technology) and now already truncated to UHD by company reps on the floor and in the hallways, Ultra HD is supposed to be the next thing every consumer will want.
It ain't gonna happen. The reasons evoke a ready comparison to 3DTV. And indeed, I have been here before, back at CES 2010 where I wrote a piece called 3DTV at CES: Poking Holes in the Hype. That year, some industry thinkers had conducted a survey and concluded that as many as 5 million consumers were ready to jump into 3D with both feet while opening their big, fat wallets. So I wrote the obligatory post that said, pointedly, no.
The comparison between 3D and Ultra HD is obvious. They were both too expensive at introduction (Ultra HD much more so than even 3D); they both suffered from a dearth of content availability; they both required a complete retooling of the equipment used by video production teams and film studios; and they both landed at a time when consumers were pretty happy with the awesomely large, cheap TV screens they already had.