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jim-carroll-238x300.jpgHere’s a blog post that ran over at the Chicago Hospitality Insider blog with a report on my keynote last week.”

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Moving Beyond The Meltdown” with Jim Carroll
Posted on February 18th, 2010 by Jody Robbins

How is the tourism business impacted by a world where information is passed feverishly around the globe? Immediately and directly; that’s how, says Jim Carroll (Futurist and Trends & Innovation Expert!), today’s lunch-time speaker at the 2010 Illinois Governor’s Conference on Tourism.

“The future happens faster than you think,” said Carroll. “The likelihood is that seven out of ten kindergartners today will work in jobs that don’t exist today.

“[It’s also] estimated that half of what college students learn in their first year is obsolete by the time you graduate,” he continued. “The typical digital camera today has a shelf life of three to four months before it’s behind current technology.”

How can a company or a government entity make that change happen? Look for experienced people that know what they’re doing; i.e. build experiential capital and stay nimble.

“It’s not necessarily big corporations that will own the market, but those who innovate — try things they haven’t done before in order to stay in front of a very fast pace.”

How? Accelerate your innovation cycle, Carroll says. “It’s not, ‘We’ll get you in our brochure next year; it’s what can we do to partner with you right now?’

Other important factors: faster time to market and continuous reinvention to meet rapid consumer preference shifts. Again, how to do this? Go online, go mobile and use your staff and outside resources to find your customer and sell them your product when and where they want it.

Carroll’s Pertinent Points:

  • *1/3 of all leisure travel is booked last-minute
  • * Average planning time down to 15 days
  • * 36% of last-minute vacations 3-4 nights in duration
  • * 30% are 1-2 nights
  • *”More than 147-million people interact globally on social networks via their mobile phones – expect one-billion (!!!) within five years,” says Carroll.

In other words, to use a cliche, THE TIME IS NOW!

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It was a great talk, and I’ll have more to post on some of the observations from my keynote in the weeks to come!

fm-web_logo.gif
Here’s an article that I wrote for Food Manufacturing on trends in the consumer, food and packaging sector.

I spend a huge amount of my time as a keynote speaker at countless conferences and events, many of them within and to the food, packaging, retail and restaurant sector. I also spend quite a bit of time with smaller, strategy-oriented leadership session designed around the theme of ‘how to innovate in a high velocity economy.’

And I do know that while volatility rocks the economy, some fundamental truths about that velocity remain: the food, packaging and retail industries continue to be subject to dramatic rates of change–and innovative organizations succeed by mastering the pace of this new high-velocity economy.

Think about what is going on out there: customer mindset has become increasingly difficult to capture as we become a society with massive attention deficits–the Twitter era is having a profound impact on brand image. Marketing and advertising dollars are fleeing traditional media and moving online at a pace that surprises even the more hard-core technology-evangelists. Faster innovation means faster in-store format change. New digital signage technologies and other innovations march forward at a furious pace, providing yet another new influencer in the retail space.

And in the midst of all this change, business models are subject to upheaval due to economic turmoil, commoditization of product and the rapid emergence of new competitors.

It’s a fast paced world–and that’s why cutting-edge organizations are focused on key leadership strategies that provide for a fast-paced future. So what should you do to confront the “big trends” that have so much velocity–and what you should be doing right now?

I approached this very question as the opening keynote speaker for an audience of 5,000 at a recent Las Vegas event. The client organization certainly finds itself in the midst of high-velocity change. There are fast paced trends in terms of new branding challenges and marketing methodologies (think Web 2.0), consumer behavior, and many other issues. Yet, there are tremendous opportunities for growth through innovation.

My keynote addressed a variety of trends that impact every aspect of the food, packaging and retail sector today. For example, to be a leading edge innovator, you must confront and have a strategy that deals with a variety of fast-paced trends:

  • Rapid emergence of new methods of customer interaction. For example, in the next few years, we will likely see the emergence of contact-less payment technology, as our credit card infrastructure migrates to Blackberry, iPhone, and smart phones. This presents new opportunities in terms of customer contact.
  • New methods of brand and product promotion. Organizations must be able to scale to meet the demands of new intelligent infrastructure, and that will require a tremendous amount of innovation. Consider text messaging: technologies that provide for the remote retrieval of mobile coupon offers will define the future of brand interaction. With 147 million people already interacting globally on social networks via their mobile phone–and up to 1 billion in but five years–there are tremendous opportunities for new methods of achieving brand and product awareness.
  • Rapid change in consumer choice. Take the issue of health concerns and balanced diet. Fresh-cut snack foods grew from $6.8 billion in to $10.5 billion in a short time, according to the International Fresh-Cut Produce Association. Innovation comes from changing product mix to keep up with fast-changing consumers.
  • Rapidly emerging new menus and taste trends. It’s estimated that new flavors now move from upscale kitchens to chain restaurants in 12 months, compared to 36 months 5 years ago. This means that faster innovation is not a luxury–it’s a necessity. Change faster, and you’ll yeild new growth-based products.
  • Fast emerging issues involving green strategies. The Grille Zone, a restaurant chain in Boston, generates about 15 pounds of waste per restaurant, compared to an industry average of 275 pounds. The Green Restaurant Association took 14 years to go to 90 restaurants; it’s now at close to 1,000, with thousands more going through the certification program. Growth can come from evolving a brand so that it matches the social desires of the customer base.

What I stress at events like this is that organizations need to realize that innovation isn’t just about “big innovation”–the launch of new products and services. There’s also the issue of “fast innovation”–in which success is defined by the ability of the organization to respond to rapidly changing products, markets, business models, economic trends, competitive moves, consumer trends and just about everything else.

Innovation today is moving from more than just “products” to process, structure, capability, and speed.

Here’s the thing: in my keynotes, I focus on growth opportunities. There are enough people out there who are so focused on the doom and gloom of the economy, that they lose sight of the fact that if they focus on fast innovation–and keeping up with rapid trends–they can discover all kinds of new ways to grow the business.

Faster is the new fast. Think growth. Think innovation.

How is social networking impacting brands? Take a look!

(This post was originally written back in 2010 after I did a talk for the National Australia Bank financial advisory team. Sometimes, trends posts don’t bear up well with longevity. I think this one does)

I spend a lot of time speaking to global financial organizations — some of the world’s largest institutions — helping them understand what they need to do from an innovation perspective to stay ahead of fast paced change.

These talks are often aimed at the idea of “how do we need to transition our advisory services — financial planners, investment advisors, insurance agents and brokers — to keep up with fast paced change?” Here’s a laundry list of some of the strategies that I’ve been talking about:

1. Focus on growth

With so much volatility in the financial sector, it’s all too easy to take your eye off of the opportunity ball. As I noted in my remarks for a recent keynote to a group of senior bankers:

Never before has the need for financial advice for Australians been greater; only 20% of Australians are currently getting professional advice.”

That means there are tremendous opportunities for growth! For many, access to financial advice is still too hard and complicated – that’s why it’s a great time to innovate, in order to build market share!!!!

2. Structure for fast paced change

There are several certainties in the financial sector:

  • more business model change
  • more sophisticated competition
  • continuous business model disruption with new, young upstarts
  • continual shifts in consumer behaviour
  • technology-driven fast change, such as with the impact of mobile technologies

Quite simply, an innovative financial organization concentrates on aligning its structure and capabilities so that it can change quickly

3. Reshape brand messages faster

Clearly there’s a lot of fast-paced change in financial services with the rapid economic pullback, and it’s critical that financial institutions continue to reshape their brand at the pace of rapidly changing consumer perception.

Noted Jim Buchanan, Senior VP of Consumer Marketing at the Bank of America in an article in Advertising Age, October 2009:

Six months ago, we were trying to re-assure the market and consumers that we are safe and secure….now consumers are telling us they’re not worried about those things anymore…..What they are interested in is ‘How can you help me manage my finances?‘”

Innovative organizations ensure that the brand message evolves at the pace of a world in which volatility is the new normal.

4. Adapt to momentum of financial consumer change

Quite simply, the new financial client is online in a big way, and smart financial organizations will evolve their service and support message to these platforms. The numbers are staggering; in the case of my Australian keynote, I emphasized that:

  • 147 million people interact globally on social networks via their mobile phones – we can expect 1 billion within five years!
  • there are 1.6 million Twitter users in Australia – up 1,000% from last year
  • Australian’s now spend 16.1 hours a week on the Internet, compared to 12.9 hours watching TV
  • 25% of that time is spent on Facebook

The impact is clear: as noted by Mondaq Business Briefing in November 2009:

Australians visit social networking sites more often than financial services sites.”

The bottom line for financial and investment advisors is that social networks are an extremely effective tool to keep core clients in the loop; as an outreach tool, they’re fast, effective, unique, quirky, and certainly the story of the day.

Financial advisors have to go where the client is going, and should be thinking about how to become socially-networked oriented advisors.

5. Adjust platforms to this changing behaviour

I continue to emphasize with my global financial clients that the impact of mobile technologies on financial services is absolutely massive. Think about Wizzit, a South African service that is essentially a text message based banking system.

The reality is that the new financial consumer expects to be served on new platforms: as noted by Thomas Kunz, Senior VP at PNC Financial:

Gen-Y doesn’t reconcile checkbooks, and they don’t believe in float. For them, their balance is their balance.”

That’s why PNC has released a “virtual wallet app” available for iPhones. They’re reaching out to this new financial consumer in a big way.

Aggressive change with business platforms provides big opportunity for business model disruption. A key factor here has to do with new client acquisition: what’s happening is the point of origination of the relationship might change as people transition their banking to mobile devices. Opportunity can come from continuing to build the advisor and distribution channel into these new platforms.

And that’s not a threat – that’s a huge opportunity!

6. Leverage off of new peer-to-peer behaviour trends:

The new financial consumer relies more than ever before for advice from their social networks.

Peer-to-peer social driven advice through sites such as TradeKing is coming to the forefront: it’s a service that allows people to share stock tips and research through extended social networks.Does this diminish the role of advisory services — not at all, if you dive in and become a part of the peer-to-peer conversation!

7. Re-orient distribution channels

Here’s another key point: I’ve emphasized to my insurance and other financial clients that the next-generation advisor/broker/agent expects ever more sophisticated technology platforms to help support their role.You’ve got to make sure you are keeping up with their needs. In one survey in the insurance sector, 80% of brokers indicated that the sophistication of the technology platform of the provider would influence who they would choose to do business with.

According to Kevin Murray, EVP and CIO at New York-based AXA Equitable:

The younger generation of financial professional will almost demand online self-service….they will want to text any questions they have in to the service centre or self-service from their mobile device. We’re going to have to be able to provide that capability. It’s how they will operate.”

8. Build your own peer-to-peer collaborative knowledge networks

The new financial advisor is also thinking socially, and is actively looking for peer-to-peer collaborative knowledge.Imagine building a financial advisory team that is collaborative for ideas, shares insight on market wins, constantly leverages insight from new branding campaigns that work in unique ways, and constantly shares great ideas on new methods of converting leads into clients — that’s how this next generation works!

Back to Kevin Murray:

“They will also want an online collaboration tool to …find answers concerning product or questions from their customers. The X and Y generations are going to demand a different way of selling and servicing their customers.”

What’s it really all about? Freeing up their time to build opportunity, make sales, close deals.

9. Reduce churn through electronic relationships

Hsomething else to think about according to Chief Marketer (October 2009),

The average brand saw one third of highly loyal consumers in 2007 completely defect to another brand in 2008“.

People are far less loyal, and far more likely to jump ship at the drop of a hat. That’s why continuous innovation in terms of the relationship is critical — and that’s maybe why continually transitioning to new technology platforms such as an iPhone app might
reduce that churn

10. Better, more focused niche marketing

We’re in the new era of analytics and analysis, which provides new opportunities for advisors to reach out to markets previously unattainable. As noted by Money Management Executive in October 2009:

Financial advisers generally prefer to manage a small number of high-net-worth clients rather than a large number of small accounts, but recent advances in automation technology could change this dynamic.”

11. Innovate hard with the next generation

One of the biggest trends going forward is that right now, we are witnessing the early stages of a massive transition of wealth from one generation to another. The numbers are staggering: we’ll see $12 to $18 trillion in intergenerational wealth transfer In the next 12 years (US GDP is $12 trillion); and by 2053, some $130 trillion will have moved from one generation to another. That’s a lot of money sloshing around — and much of it is going to this new, tech-savvy financial consumer.

12. At the same time, rethink importance of boomer market

It’s easy with all of these points to think that new markets will come from new, uber-hip young people and hot new technologies.

But don’t stop with innovating with that market — also realize that there continues to be huge growth potential with the boomer market. In Australia, baby boomers will control 51% of the nations wealth.

Put that in the context of the reality that there is a huge adoption by Boomers of Facebook. They continue to more aggressively integrate technology into their lives; they’re busy researching health care, insurance, retirement planning and investment advice.

Online makes more sense than ever before — get your advisors there!

13. Evolve the approach

Insurance and financial services are products that are always sold based on fear — they aren’t bought. This reality doesn’t go away because of new technologies. What does change is that technology is a powerful enabler that frees advisors from having to focus on the mundane, routine, time wasting stuff, in order to focus on providing the advice & guidance that advisors can provide. Focus on the core role!1

14. Enact change

Many advisors will be in comfortable, established routines. Change is not easy. That’s why organizations in the financial sector that are trying to be innovative need to help existing advisors focus on the opportunity and the benefits that come with rapid change, rather than being fearful of the change that technology is bringing to the industry.

Bottom line? As I summed up in my talk — “Innovative organizations make bold leaps, in order to keep up — and stay ahead — of a faster future.”

hugh-hefner-jung.jpg>by Jim Carroll, CAMagazine, August 2009

When you travel like I do, you spend a lot of time reading. One ofthe recent books on my list provides a fascinating look back at the 1950s and ’60s: Mr. Playboy: Hugh Hefner and the American Dream. (No, I didn’t buy it for the pictures, because there are very few.)

I was struck by one paragraph about how Hef worked very hard in the early years to get advertisers on side. He was initially met with resistance, for obvious reasons, but he persisted and eventually succeeded at signing up some of the “leading brands of the time.”

Just what were those brands? Crosswinds House beach towels, Scintella Satin BedSheets, the Lektrostat Record Cleaning Kit, Mansfield Holiday II 8-mm cameras, Leslie Record Racks, Electro-Voice Musicaster loudspeakers, the Ronson Electric Shaver, Max Factor crew-cut hair dressing and the Rogers “Rocket Flame” cigarette lighter. And let’s not forget Merrin Gold Jewelry and the Batch Book, “a new and modern address book that lets you list every pertinent detail — the surest way to avoid social errors.”

Those brands aren’t exactly household names today; in fact, very few of them still exist. Some disappeared due to changing societal norms, others due to technological change. Some probably just ran out of steam.

Brands disappear for a variety of reasons: think Enron, E.F. Hutton and Woolco. Brands can also stick around and become tarnished, losing respect in the eyes of the customer because of a series of missteps. My own client list includes organizations such as Chrysler, Motorola and the US Army Corps of Engineers — brands that for a variety of reasons have lost respect in the marketplace.

Is your brand at risk? That’s a key question, because corporate brands today are no longer guaranteed longevity in the marketplace. They can disappear because of obsolescence, competition and business model change, or simply because, as we have seen of late, failure and error.

Brands now also have to contend with the potentially lethal challenge of social networks. Pizza chain Dominoes quickly discovered how much harm social network “terrorism” can do when employees posted a damaging video on YouTube in which they were less than reverent with customers’ food.

It is isn’t just the risk of events like this that can threaten a brand. People are extremely busy chatting online — on Twitter, Facebook and elsewhere– about the brands that they like, and the ones they dislike.
Consider the effort one customer put into a self-created commercial for US based grocery store Trader Joe’s.

All of a sudden, organizations are discovering a reality that I’ve been pointing out for years: a brand is no longer what you say it is — it’s what they say it is.

Think about your brand, whether you are in public practice, consulting or the corporate sector. Does your brand still resonate? I often talk to my clients about the need for constant brand innovation and challenge them days.” Better yet, I ask them if their brand looks tired because it is tired.

Many people don’t spend much time thinking about branding, but it is becoming more important considering how quickly perceptions can change. Here’s how you should challenge your thinking.

  • Recognize that brand longevity is a critical issue.
  • Ensure that everyone in the organization is relentlessly focused on the currency of the brand.
  • Make sure that continuous brand innovation is part of your corporate mantra.
  • Be incessantly focused on the innovations that are most likely to impact your brand.

:

  • Video: The impact of social networking on brands
  • How a customer sees Trader Joe’s
  • Blog post: Is your brand from the olden days?

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There are 147 million people interacting on social networks through mobile devices today – expect that to grow to 1 billion within 5 years.

A clip from a recent keynote in which I outline the dramatic impact that social networking — Twitter, Facebook, etc — is having on brand image, relevance of brand, and longevity of brand.

Here’s a clip from a recent keynote in Las Vegas.

I’m challenging the audience to think about the issue of maintaining brand relevance, in the era in which customers increasingly influence the perception of brands through social networking tools.

The key challenge today is preventing a brand from becoming “from the olden days.” I emphasize this with a quote from Multichannel Marketing, April 2008.

In some ways, brands are like people. They get stuck. They have habits that are hard to break. They don’t always see their blind spots, and they lost touch with their core essence. They resist change. They become irrelevant

Innovative organizations realize that they need to continuously address the issue of the relevance of their brands, and must work harder than before to keep them “fresh.”

2009Yum.jpgI was thrilled to be the opening keynote speaker for Yum! Brands 2009 Global Leadership Meeting. It’s the world’s largest restaurant company.

The organization, the owner of such iconic brands such as KFC, Taco Bell and Pizza Hut, certainly finds itself in the midst of high-velocity change. There are fast paced trends in terms of new branding challenges and marketing methodologies (think Web 2.0), consumer behavior, and many other issues. Yet, there are tremendous opportunities for growth through innovation.

My keynote addressed a variety of trends which are impacting the QSR (quick service restaurant) industry today:

  • opportunities for global growth. Chain restaurants account for but 1% of China’s commercial food service sales, and in Europe, it is but 2%. (Compare that to the US, which is at 50%.) Clearly, growth will come from continued expansion into global markets.
  • rapid emergence of new methods of customer interaction. For example, in the next few years, we will likely see the emergence of contact-less payment technology, as our credit card infrastructure migrates to Blackberry, iPhone, and smart phones. This presents new opportunities in terms of customer contact.
  • new methods of brand and product promotion. Organizations must be able to scale to meet the demands of new intelligent infrastructure, and that will require a tremendous amount of innovation. Consider text messaging: Subway is working with a “pRomo” program that provides for remote retrieval of mobile coupon offers. With 147 million people already interacting globally on social networks via their mobile phones, there are tremendous opportunities for new methods of achieving brand and product awareness.
  • rapid change in consumer choice. Take the issue of health concerns and balanced diet. Fresh-cut snack foods grew from $6.8 billion in to $10.5 billion in a short time, according to the International Fresh-Cut Produce Association. Innovation comes from changing product mix to keep up with fast-changing consumers.
  • rapidly emerging new menus and taste trends. It’s estimated that new flavors now move from upscale kitchens to chain restaurants in 12 months, compared to 36 months 5 years ago. This means that faster innovation is not a luxury – it’s a necessity. Change faster, and you’ve got new growth-based products.
  • fast emerging industry issues. Consider the “greening of the industry.” The Grille Zone, a restaurant chain in Boston, generates about 15 pounds of waste per restaurant, compared to an industry average of 275 pounds. The Green Restaurant Association took 14 years to go to 90 restaurants; it’s now at close to 1,000, with thousands more going through the certification program. Growth can come from evolving a brand so that it matches the social desires of the customer base.

What I stress at events like this is that organizations need to realize that innovation isn’t just about “big innovation” — the launch of new products and services. There’s also the issue of “fast innovation” — in which success is defined by the ability of the organization to respond to rapidly changing products, markets, business models, economic trends, competitive moves, consumer trends and just about everything else. Innovation today is moving from more than just “products” to process, structure, capability, and speed.

Is the industry innovating? You bet: in October 2008, the US QSR market saw the biggest number of “Limited Time Offers,” a unique method of increasing sales, with 547 new menu items (up 40% from the prior year. Noted Obesity, Wellness, Fitness Week magazine in November 2008, “operators appear quite open to partnering with suppliers on new products with shorter lead times.”

Here’s the thing: in my keynotes, I focus on growth opportunities. There are enough people out there who are so focused on the doom and gloom of the economy, that they lose sight of the fact that if they focus on fast innovation — and keeping up with rapid trends — they can discover all kinds of new ways to grow the business.

Faster is the new fast. Think growth. Think innovation.

08cellphone.jpgI’m off to keynote Tourism Alberta — and will speak to some 200+ tourism marketing professionals on trends within the sector.

Alberta, located in Canada, has an extremely hot economy — globally, it stands as the home of the 2nd largest provable oil reserves in the world, just after Saudi Arabia. Most of this is tied up in the ‘tar sands,’ which costs quite a bit more than traditional oil reserves to bring to market. Hence,there is a flood of infrastructure investment and other spending going on.

Needless to say, even thought it’s a hot economy, the economic ‘correction’ (and certainly volatility in the price of oil), as well as other issues, is providing for a bit of a challenge in the tourism sector.

What am I doing at the conference? Notes the brochure: “ Jim will speak to the fact that travel product innovations occur today at such a pace that simply keeping up can be a challenge. A furious pace of technological innovation continues unabated, with the rapid emergence of new technologies that change the way the travel consumer plans theirtravels. The Web continues to make massive inroads into tourism planning and business model change. It’s a fast paced world — and that’s whyleading edge organizations are focused on staying ahead of the trends that are impacting the high-velocity economy of today. Join international futurist, trends and innovation expert Jim Carroll as he puts into perspective how the world of tourism is changing — and how organizations are innovating in order to keep up with it!”


What I am talking about? Quite a few trends:

  • the new tourist is faster: 1/3 of all leisure travel is now last minute, and the average time for planning a trip is down to 15 days
  • the new tourist is connected: 86% of all North American’s now travel with a cell phone. They have expectations of finding data-heavy local tourism portals when they walk off a cruise ship looking for something to do.
  • the new tourist is influenced differently: 79% of travelers trust reviews by other tourists over advertisements. Social network tourism sites and stalwarts like TripAdvisor continue to have the biggest impact on tourism decisions.
  • the new tourism family is no longer nuclear: A grab bag of observations … only 1 in 4 of the population live in heterosexual, two-parent families …. .one in three people now live alone ……urban Americans remain single for more than half of their adult lives, a radical shift…
  • the new tourism product is faster to market: WhereI’veBeen started as a Facebook application that allowed people to post where they’ve travelled to. It exploded to 2 million users in a matter of weeks.
  • the new tourism product is being rapidly redefined: Online tourist mashups that allow people to combine online maps with travel schedules, destination information, and social networks are redefining the concept of trip planning.
  • the new tourism marketing is viral: Budget Rent A Car, Southwest Airlines and Sheraton Hotels are examples of 3 companies that are using blogs and Internet video to establish leading edge marketing campaigns.
  • the new tourist is, well, different a grab bag of trends: we’re seeing a lot more shorter term “pressure relievers,” themed holidays, adventure, health or well-being vacations, “authenticity” as a new trend, and the “unplugged” vacation. Not to mention an “old” trend from 2007 which involves “debaucherism” as the new travel trend.

My key message? As a tourism marketing professional, you must keep ahead of these trends….build your experiential capital by working with new methods of reaching the market ….. understand that the market is becoming faster, more global, and more challenging.

Bottom line — innovate!

I’m about to head out the door to keynote a leadership team, business analysts and IT staff for a leading multinational bank. The theme of my luncheon talk is, of course, innovation in the high velocity financial sector.
There’s been a tremendous amount of new research undertaken in the last day, so that I can add to the insight that I’ve already accumulated through the years as to the innovations occuring in this sector.

There are a couple of key observations that I’ll share with the crowd. I start out with a list of pretty scary headlines. American banks face financial meltdown if their reforms fail. Mortage Meltdown! Bloody and Bowed — Money Managers Remain Badly Shaken by the Meltdown. Market Cap Meltdown — Billions in Blue Chip Stock Values Have Been Blown Away.Congress caught in a bind over bank crisis. Crisis Looming As Realty Slump Becomes Global


Most of these headlines are from 1989-1990.

Key point being, we’ve been here before. Whenever there is market turmoil, there is also opportunity for growth through innovation.

And that’s what I’ll concentrate on the talk. How banks are transitioning staff from tactical to strategic roles so that they can provide the consultative services customers are demanding. How bank branches are becoming the “new Internet” as financial institutions rediscover the power of rejuvenated bricks-and-mortar networks. How the new era of Web 2.0 is going to have to drive a new form of “social wealth management,” particularly as we witness a massive intergenerational transfer of wealth from baby-boomers to the Twitter generation. And how maintaining brand relevance is critical when products and customer service expectations continue to increase at a furious pace.

Several months ago, I wrote a Memo to the CEO of banks worldwide, imploring that they don’t kill innovation it’s tracks as they scramble to deal with the subprime mess. It drew quite a bit of attention: and the comments and sentiment are still critical today. It’s worth a read.



  • Read the Memo to the CEO

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