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Would the Real Mobile Wallet Please
Stand Up? (or at least stand out?)iMedia Breakthrough Summit – Mobile Bootcamp
October 20, 2013
Dr. Phil Hendrix
Director, immr and Gigaom Research analyst
www.immr.org
1 (770) 61211488
Title
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@phil_hendrix
#iMediaSummit
More Information in these ReportsEngaging Connected Consumers Mobile Shopping
Download at www.immr.org/reports.html
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Topics for DiscussionTopics for Discussion
� Mobile Payments, Wallets & M1commerce
� Frameworks
� PEERSM
� 8 Layers of Location
� M4M (Metaphors for Mobile)
� Implications/Strategies for Brands
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� Research ConsultantResearch�based Strategy forVery New Products and Markets
� Advisor – Startups• Product�Market Fit• Value Proposition• Growth strategy
� Catalyst• Innovation• Strategy
� Analyst• Emerging Technologies• Mobile/M�Commerce• Location, Context
PreviouslyMercer Diamond Cluster
About me
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Mobile Payments and
Mobile Wallets
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Value to Value to Consumers
Value to Value to Merchants
Speed/
Ease of Use
Speed/
Ease of Use
Awareness/
Familiarity
Awareness/
Familiarity
Merchant
Acceptance
Merchant
Acceptance
SecuritySecurity
Incentives
to Adopt/Use
Incentives
to Adopt/Use
Unique
Benefits
Unique
Benefits
Mobile
Payment
Mobile
Payment
Drivers of M1Payments
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Value to Value to Consumers
Value to Value to Merchants
Speed/
Ease of Use
Speed/
Ease of Use
Awareness/
Familiarity
Awareness/
Familiarity
Merchant
Acceptance
Merchant
Acceptance
SecuritySecurity
Incentives
to Adopt/Use
Incentives
to Adopt/Use
Mobile
Payment
Mobile
Payment
� Authentication(visual, proximity, etc.)
� Digital receipts� Integration w/ shopping,
offers, rewards� Others TBD
Unique
Benefits
Unique
Benefits
M1Payments Unique Benefits
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What Will Spur Adoption of M1Payments?
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Significance for
Brands
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Examples
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“The Remote for Our Lives”
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MobilePayment
MobileConcierge
Mobile Marketing
MobileRewards
A Broader View of Mobile Wallets
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Mobile Marketing Influencing prospective buyers with communications, incentives
Search Advertising Offers
Mobile Payment Enabling payment for goods and services via mobile devices
FIs/Issuers Operators Challengers
Mobile Rewards Brands and businesses rewarding customers via mobile devices
Points Offers Experiences
Mobile Concierge(including shopping)
Brands, businesses and TPPs assisting mobile customers
Information Recommendations Assistance
Mobile Wallet Enabling M1Commerce
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MobilePayment
MobileConcierge
Mobile Marketing
MobileRewards
Data Data
Data
Data
Data Fueling M1Commerce
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Frameworks
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Wroblewski’s Theorem
“Anything that can be connected to the Internet, will be.”
Philips Hue Bulbs
Luke Wroblewski
Nest Learning Thermostat
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Corollary – “Everything’s “Everything’s “Everything’s “Everything’s a a a a Pixel”Pixel”Pixel”Pixel”
8 Layers of Location
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Evolving toward Micro1Locations
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PEER
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From the 4 P’s to PEER
Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix, immr
Learn† &Adapt
Remove Frictions
Surprise/Delight
Reinforce†Securely, with full transparency
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PEER Strategies
PersonalizeLeverage data about consumers and their context to
increase the relevance, timeliness and value of
communications, offers and customer experiencesAllows airports to tailor info for
travelers based on profile,
destination
EnableHelp customers complete tasks and accomplish their
goals by minimizing the risk, time, and effort as they
shop, compare, purchase and use your products Mini owners can detect other
owners, share tips
EnhanceSurprise and delight customers by anticipating and
helping them fulfill functional requirements, emotional
needs and aspirationsGuests can manage experience
(FastPasses, reservations, rides,
etc.)
RewardUsing feedback, encouragement, rewards and social
influence, reinforce customers as they engage in
behaviors that are mutually beneficial
Allows hotels to personalize
rewards, experiences based on
guest’s social profile
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M4M(Metaphors for Mobile
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Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix
More Metaphors for Mobile
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PropositionsConsumersValue
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Frictions, Shoulds and Wants
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Discover Choose
Buy Use
Path1to1Purchase and Ownership
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†Source: immr Shopping Survey
Consumers’ Love1Hate Relationship
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Can Mobile Save Shopping?
Source: If Shopping is Broken, Can Mobile Fix It? Dr. Phil Hendrix, immr
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Social = Currency
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Litmus Tests for
Your Strategy
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Are You Tuned in to Consumers’ Digital Signals?
LocationLocation SocialSocial HistoryHistory
Source: Tuning into Consumers’ Digital Signals, Dr. Phil Hendrix, immr
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Are you Engaged? Or Merely Engaging?
What What
I Like
Who I am…Where I Where I
am
What’s
Nearby
What’s
Nearby
What’s
going On
What’s
going On
What I
respond to
What I
respond to
What I’ve
bought
What I’ve
bought
Where Where
I’ve been What
I need
What
I need
Where
I’m going
Where
I’m going
Source: How SoLoMo is Empowering Consumers, Transforming Shopping and Disrupting Advertising and Retailing, Dr. Phil Hendrix
KnowKE
xp
ec
tati
on
s
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Are You Engaging by Consumers’ Rules?
Right1time
Relevant
Personalized
Rewarding
Source: Drive Revenue and Loyalty by Engaging Mobile and Social Consumers, Dr. Phil Hendrix, immr
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Are You Tapping into PEER?
Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix, immr
Learn† &Adapt
Remove Frictions
Surprise/Delight
Reinforce†Securely, with full transparency
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#iMediaSummit
Are You ManagingNumerator and Denominator?
Customer Benefits
Customer EffortLoyaltyLoyalty = ffff
Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix
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Are You Enabling Customers?
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And Aligned Organization around Role(s)?
Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix
Have You Defined YourRole(s) in Customers’ Lives?
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Is Your House of Loyalty “Built to Last?”
Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix
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Are You Doubled Down on Innovation?
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Are You Making the Right Strategic Bets?
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Are You Hitting on All 8 Cylinders?
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More Info
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immr – Recent and Forthcoming Reports
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Bio – Dr. Phil Hendrix
Dr. Phil Hendrix
Director, immr
www.immr.org
+1 (770) 61211488
@phil_hendrix
Dr. Phil Hendrix is the founder and director of immr, a research and advisory firm focused on market opportunities afforded by new technologies, and an analyst with GigaOm Pro. He specializes in helping
organizations evaluate and capitalize on opportunities that are new3to3customers and new3to3market. Dr. Hendrix
has extensive experience uncovering customer needs, identifying triggers and hurdles to adoption, and developing
strategies that unlock market opportunities, both B2C and B2B.
As an analyst, Phil focuses on mobile innovation and the implications for companies across industries. He is a
regular contributor at leading industry conferences, including GigaOm’s Mobilize, Structure:Data, Street Fight
(hyperlocal), ad:tech, iMedia Summit, Social3Loco and others. His current work focuses on mobile and its impact on
consumer behavior, especially shopping, M3commerce and mobile payment.
As a consultant and advisor, Phil has led significant engagements with startups and Fortune 100 clients in mobile,
consumer electronics, and related categories, including financial services, transportation, insurance and others. He
works closely with senior management and project teams on key issues, including market sizing, segmentation,
positioning, and branding as well as innovation, user experience, and customer retention. Over the course of his
career, Phil has helped clients conceive and successfully launch dozens of new products, services and businesses.
Before founding immr, Phil was a partner with DiamondCluster (strategy and technology consultancy), founder and
head of IMS (Integrated Measurement Systems), and a principal with Mercer Management Consulting (now Oliver
Wyman). He has held faculty positions at Emory University and the University of Michigan, where he taught courses
in marketing, research, and buyer behavior for MBAs and executives. While at Michigan Dr. Hendrix also held a joint
appointment as a research scientist in the Survey Research Center, Institute for Social Research.
Additional information on immr perspectives and reports prepared by Dr. Hendrix is available at immr and
Slideshare, with additional information available at GigaOm Pro.