Tag: Marketing

AI, strategy

How AI is transforming strategy development – McKinsey

Colin Henderson

Citation: About the authors This article is a collaborative effort by Alexander D’Amico, Bruce Delteil, and Eric Hazan, with Andrea Tricoli and Antoine Montard, representing views from McKinsey’s Strategy & Corporate Finance Practice. At its core, strategy entails deriving insights from facts and data, developing real options based on those insights, making hard-to-reverse choices, and executing initiatives that convert those choices into value. Data analytics has assisted in this work for several decades, but never before has technology been able to not only augment and partially automate inputs into strategy but also combine them into complex analyses. In time, it may even recommend … Continue reading How AI is transforming strategy development – McKinsey

Innovation, VRM2 Comments

A market test alternative for credit cards

Colin Henderson

This is a variation on the theme I cover periodically called Vendor Relationship Management (VRM). The variation here is that the Vendor must place the consumers product up for bif from competition when they are considering changing the terms, such as interest rates.  The consumer would then have the choice of accepting the change, or accepting one of bidders. (HT Payments News) A Market Test for Credit Cards We have an alternative solution, employing a market test of a proposed change. At the time when the lender proposes a unilateral change, it would be required to put the existing account … Continue reading A market test alternative for credit cards

VRM2 Comments

On VRM, Facebook, and being misunderstood for long periods of time

Colin Henderson

I simply love this post at RWW.  The post is about how FaceBook could turn on the power of their userbase to the benefit of consumer power.  I have long been a fan of VRM and at the same time at something of a loss to see how it could be initiated.  Then I read this post, and new lights went on. The post is about FaceBook, but it is less about them, than it is about business models for dot.com companies with large userbases who insist on following tradigital advertising models. The whole ‘We have lots of eyeballs so … Continue reading On VRM, Facebook, and being misunderstood for long periods of time

Uncategorized4 Comments

Will Banks do social media?

Colin Henderson

One of the nice things about blogging is that you get to pick on friends as an example, so here goes with James. This is the comment I left on his post which rightly questions the validity of social media for banks as a marketing tactic. I wanted to make some additional comments, and they follow, and I REALLY look forward to Ron’s views. Why Banks won’t do social media | Bankervision James – couldn’t disagree more – message here from the echo chamber. This is social media. Here is why banks (that survive) will do social media. I picked … Continue reading Will Banks do social media?