We asked global executives about their agenda for digital transformation (DX), as organizations emerge from survival mode of the last 2 years of Covid.
Among the findings:
Digital priorities are shifting — From business continuity and efficiency to accelerating innovation and growing the customer base
People matter — Firms that are succeeding in DX have a much higher commitment to culture change, and to involving the entire organization
Strategy first — Rather than starting from new technologies or legacy metrics, companies should begin DX with a clear vision of growth and the future customer
Along with myself, other experts shared exceptional insights: Tom Davenport, Charlene Li, Melissa Swift, and George Westerman.
Many thanks to Kristin Burnham for including me in the research study and white paper, which was sponsored by Red Hat.
It was such a pleasure to welcome back alumni from all five cohorts of my Columbia Business School’s Digital Business Leadership Program for our first Global Reunion – 2022!
There were so many amazing stories of what each of them has been doing since their time in the program, and it was so great to see them all connecting with each other!
Thank you to Bob Dorf, Dr. Athina Kanioura, and David Bell, for joining me to share insights with the group. And huge thank yous to Olivia Wiles, Stephanie Boyd, and Heather Hinson for all the planning and preparations to make this happen, and all in our amazing new Columbia Business School buildings!
Congratulations to the amazing graduates of our 5th cohort of my Columbia Business School’s Digital Business Leadership Program! It was such a pleasure to complete our 6-month journey back on campus, teaching in-person to all who could make it, and virtually to our amazing group of “streamers”!
Tremendous thanks to Bob Dorf for guiding our Lean Startup journey, to Jeremy Kagan for accelerating our startups with tremendous coaching, and to all the rest of our faculty and guest speakers throughout the program.
Exceptional thank you’s to Stephanie Boyd and Olivia Wiles for going waaaaay “above and beyond” to navigate every imaginable hurdle to make this happen: the first on-campus program of Columbia Business School Executive Education since Covid began. So glad that we could blaze this path together!
Congrats on joining the alumni of Columbia Business School!
Great visual of themes by Jorge Merchán from my keynote at the INCmty conference! Looking forward to returning to Mexico soon, to support the innovation and digital transformation of so many amazing companies there!
I am delighted to release the results of a new global business study — “What Is the Future of Data Sharing? Consumer Mindsets and the Power of Brands.” (Download here.)
(click lower-right button to view full-screen)
As data becomes an increasingly important asset for any business, access to accurate data from customers—about their interests, behaviors, and identity—is vital to successful, durable relationships. Our research explores how businesses can make data sharing a “win-win” for both companies and the customers they serve.
With my co-author Matthew Quint, we surveyed attitudes towards sharing data with business in six different industries, talking with 8,000 consumers from the US, UK, Canada, France, and India.
Our surprising findings show that even consumers who are actively protective of their data are often happy to share it for relevant offers and value. The study revealed four distinct “mindsets” that consumers have towards sharing data. And we uncovered clear opportunities for business to use data to add more value to their relationships with consumers.
The research goes far beyond general consumer attitudes towards data, in order to answer:
How do consumers think about specific types of personal data (e.g. sharing their name vs. their purchase history) – and how do men and women differ?
Which industries do consumers feel more comfortable sharing their data with?
Do trusted brands fare any better in persuading consumers to share personal data?
What is “the Amazon effect,” and what does it tell us about who consumers will share data with?
How do attitudes around data-sharing vary between US, UK, Canada, France, and India?
Do Millennial and Gen X consumers really differ in their attitudes towards data?
How does a consumer’s “data-sharing mindset” predict her likelihood to share data—and what does this tell us about future trends?
What new kinds of value can companies offer to consumers— security, recommendation tools, even societal benefits—that may persuade them to share their data?
Today, businesses that hope to build an effective data strategy need to invest in building both data, and the trust of customers that makes it accessible. By giving customers more value—not just with traditional offers, but with new kinds of data-enabled benefits—and offering more transparency and control, businesses can develop a long-term relationship with customers that puts data at the center of a true value exchange.
The research study “What Is the Future of Data Sharing?” was produced by Columbia Business School’s Center on Global Brand Leadership (www.globalbrands.org), in conjunction with the Aimia Institute (aimiainstitute.aimia.com).
Chinese ecommerce giant Alibaba has grown into a powerhouse within China’s fast-growing market, as the equivalent of both eBay and Amazon. Now, as CEO Jack Ma tours the US in preparation for the biggest IPO in history, many are asking what this means for US Internet firms. Will Alibaba be a direct competitor? If so, where? And does Alibaba even have a US market strategy yet?
I sat down with The Wall Street Journal’s Paul Vigna this week to discuss.
I spoke today with Maria Bartiromo on CNBC’s “Closing Bell” about the new iPhones announced this afternoon. As I expected, Apple’s launch event offered a lot of nice, but underwhelming, new features. Slightly faster gameplay. Better camera flash. New colors. As is typical in the “off year” announcements (think iPhone 3s, 4s, and now 5s), there is no game-changing new feature.
I’m not surprised, but I was hoping until the end that Tim Cook might pull a real surprise here. A bigger screen. A really different Apple TV. Or what we all wanted — a smartwatch to work with the iPhone.
TouchID, the new fingerprint identification system, could have been that killer app. But so far, it’s just a feature that saves you a couple seconds logging in. If they can manage to link it to multiple profiles on a device (like the new Google Nexus tablets), or make it a password to controlling smart devices in the home (your stereo, thermostat, etc.), that could make for a truly killer feature. But they just didn’t get there today. Consumers will be moderately impressed, though, and the iPhone will sell well in the US for another year.
The huge question though, is whether the iPhone 5c will make major inroads into the emerging markets like China, Brazil, and India. That is where all the growth remains in new smartphone owners. And this is the story Apple almost skipped over today, with no mention of a distribution deal with China Mobile (probably the #1 reason the market turned on Apple’s stock after the presentation). The bigger problem may be price, though. The 5c will start at $549 for an out-of-contract phone, which is how most smartphones are bought in emerging markets. That’s only $100 less than the iPhone 5s, and likely translates to a Chinese sticker price that’s double the competition from rising brands like Xiaomi. If that’s true, it’s hard to see how Apple will stop it’s declining revenues in Asia Pacific (see Josh Ong, for TNW, on this).
That’s disappointing news, because the iPhone 5c was really a phone for global markets. I’m not even sure they expect to sell these things in the US. it’s a mid-tier product, half-way between the starting price for the iPhone 5s (their new flagship phone), and the iPhone 4s (which Apple confirmed would still be offered free with a 2-year contract to US customers).
As I told Maria Bartiromo – “Americans don’t buy mid-price products. We either want low price with great value, or we want the premium customer experience.”
Maybe the pretty colors will prove me wrong, but I expect if the iPhone 5c sells here, it will be cannibalizing sales of the iPhone 5s.
-David
ADDENDUM:
Whew! It’s been a 24 hour press whirlwind. More links…
Le Figaro (in French) picked my brain about “Les Nouveaux iPhone” http://ow.ly/oMDQJ
CNN.com spoke to me about “The iPhone & Fingerprint Technology (Mileage May Vary)” http://ow.ly/oL4gu
ABC News talked with me about why Apple’s China pricing strategy may not work http://ow.ly/oMEgC
A weekly newsletter with insights from David Rogers, bestselling author, Columbia Business School professor, and the world’s leading expert on digital transformation.