Here’s a tough business problem. Making the pivot to a matchmaker business model when you started life as traditional, single-sided business. Everything about the business changes – multiple customers, not just one. Pricing models that get turned on their heads. Design that’s about getting ignition, not just one side of the business to use. The hardest part isn’t just about making the pivot, but recognizing that one is needed. Latter as important, if not more so, than the former.
The hardest part of becoming a #Matchmaker isn’t making the pivot, but recognizing the need for change. #DAILY2CNTS: https://t.co/BlfirRHBvP
— Karen Webster (@karenmpd) July 15, 2016
Oh, what lies beneath the surface …overheard today..”fine, let them implement this new mobile system. But don’t force us to have to learn it. Let the people who want to learn, learn and then the rest of us use the systems we know how to operate and our customers use today.” Don’t underestimate the need to make sure the people on the frontlines facing the customer are as invested in innovation as you are.
From the frontlines to the CEO, when it comes to #innovation, EVERYONE needs to be on board. #DAILY2CNTS: https://t.co/BlfirRHBvP
— Karen Webster (@karenmpd) July 14, 2016
On my mind today is consistency – the mirror image of certainty. When things are consistent, they are predictable. When they aren’t, people and businesses stall. Often when actions are taken by regulators to “level the playing field” they can make things inconsistent- and unintended consequences follow. Then, no one really wins, even if the playing field is nice and level – or so it is in theory anyway.
Consistency, the mirror image of #certainty. Does leveling the field create inconsistency & uncertainty? #Daily2CNTS https://t.co/BlfirRHBvP
— Karen Webster (@karenmpd) July 13, 2016
It’s Prime Day! And a reminder of how Amazon has reengineered the notion of consumer loyalty in the retail space. But paying for “membership” isn’t unique to Amazon. In payments, Amex built its business around cards with annual fees and cemented the “membership has its rewards” mantra in the brains of the consumer. The rewards received, however, must be perceived as greater – much greater – than the dollars they spend to join. That value that can come in the form of access, experiences, trust in the brand, great products at great prices. More than half of Amazon’s customers in the US – 63M of them – now feel they do.
It’s @Amazon #PrimeDay. — An interesting lesson on consumer loyalty. #DAILY2CNTS https://t.co/BlfirRq07f pic.twitter.com/sF8sbScXw6
— Karen Webster (@karenmpd) July 12, 2016
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