AIM Institute Technology Blog

James McQuivey – Forrester Research
Session powerpoint available at http://forr.com/CES2012

Speaking historically, there are so many things that didn’t exist just 10 years ago. There was no Facebook, no YouTube, etc. As digital consumers, we now find new ways to do old things: send mail, look at and organize our photos, store and watch our home movies, research information, play games, use coupons, etc.

Digital disruptors are here now: Zuckerburg, Biz Stone, etc. This is similar to an episode of the 6 Million Dollar Man–better, faster, stronger, etc. Many companies make the mistake of simply taking what they do and display it digitally. They usually miss the mark if they don’t completely disrupt their own business. Digital disruptors are Microsoft, Apple, Samsung, etc. These are the “platform creators”, although it’s important to understand that not every new device is a platform. There are also “experience creators” that create software applications that give the consumer the experience on the platforms that have been developed.

Imagine a group of disruptors have gotten together to create a “Disruptors Handbook.” It would have 3 sections: Harness the Power of Empowered Consumers, 2: Generate More Ideas More quickly, and 3: Deliver a total product experience.

Disruptive technologies examples: Cotton gin, printing press, apple iPod, + MANY MORE!

Today, there are many more people that are producing ideas, as well as more people that are willing to invest in these innovations. This is why it took Apple two years to sell 2 million iPods, but only took Kindle Fire 2 months to sell 2 million units. Kindle rode the wave and benefited from the road that was paved by Apple. That’s just good business. Apple produced products that people didn’t even understand that they needed or wanted, but made their followers feel like they couldn’t live without the product.

Businesses should look for the intersection of the next cool thing that consumers want with the most immediate thing that your company can provide. This is because there are so many more competitors now than there used to be.

Examples: A person wants to lose weight. They are asking what they can do next.
Answer: The research says that a person can very simply lose weight by keeping track of the calories that they consume. An app came out called “Lose It” which changed the landscape. No TV show, no magazine, etc. The research also says they need to keep track of calories that you consume–so an app was created to track exercise. The research says you need support–they added a feature to be able to communicate with others in the community. This was all created 3 years ago by 4 employees operating on a shoestring and has now been copied by WeightWatchers, etc. Now a company has created MealSnap–take a photo of your meal and the app will figure out the number of points.

The Magic Mirror: A young lady is getting ready for a date and looking in the mirror. What can the mirror (mirrored display) provide? The girl says “Magic Mirror” and the app appears and allows here to choose different hairstyles, makeup, etc. If you’re Mary Kay, you could also have a button where she can communicate instantly with a Mary Kay personal consultant to advise her. Maybe her hairdresser (as a service provider). Maybe Cosmo or Seventeen is the service provider?

Both of the platforms to make this happen already exist, but to be a disruptor you must simply build a “digital bridge” that connects the customer with your service to create the unique experience that they want. Mark Zuckerberg says he only wants 5 minutes of your day, but when that is scaled by the number of users that creates his gold mine for him. Businesses also need to think in that format–have them share 5 minutes of their day.

Forrester has an assessment that takes about 5 minutes to find out how ready you are to participate in digital environment at www.forr.com. Their research has shown that businesses recognize the digital era and are excited about it, but most have not yet developed policies that actively encourage and reward digital innovation among its business groups.

Talk ended with picture of 6 million dollar man, but next slide photoshopped Mark Zuckerberg’s face over Lee Majors as the 17.5 billion dollar man! Slides at forr.com/CSE2012.

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