Geoffrey West: The Surprising mMath of Cities and Corporations:
– In biology, all organisms exhibit a universal growth pattern. Fast growth, followed by a slowing, and eventual death.
– The size of the animal relates to it’s energy needs in a 3:4 ratio, meaning, the larger the creature, the LESS energy it needs to maintain its size.
– Cities do not respond in the same way; their growth and innovation are exponential.
– In order to maintain exponential growth, cities must constantly innovate, and do so at a faster and faster rate.
– Corporations exhibit growth in the same way as biology; rapid growth, followed by a slowing, followed by death.
– All corporations die, cities rarely do.
– Isis is a collaboration between the "big 3" (Verizon, AT&T and T-Mobile) to produce an e-wallet system.
– Trying to institute a "wave and pay" system using your phone.
– Isis has been delayed due to the fact that they want to “make sure when we launch we do it properly and do it right”.
– Isis is, or would be, a direct competitor to Google Wallet, Square, and others.
– Online shopping intentions for food and beverage categories increased 44% in two years…
– Globally, 46% used social media to help make purchase decisions…
– 37% purchased from online-only stores most frequently…
1: Focus on the right shopper – Not everyone is going to use digital. Nielsen research finds that one-of-four CPG shoppers are considered ‘Trendsetters’. These are generally shoppers that love to keep ahead, try new things and tell others about them. They are typically younger compared to other segments, have children in the household and are a bit more affluent compared to the general population.
2. Engage shoppers with the right message – ‘Trendsetters’ tend to be more digitally engaged, but that is still dependent on what they are buying. Determine what activities are important to core shoppers and customize the offering. If shoppers are more deal- centric, provide coupon promotions.
3. Connect with shoppers via the right medium – An increasingly complex landscape provides consumers with a wide array
of choices. Marketers need to focus on the medium that provides the best return on investment. Think about product usage and devise strategies that speak to the needs of consumers. Pair mobility with need and create apps that, for example, make it easier to create a shopping list, refill prescriptions or navigate a store.