Music has always been part of my everyday life. Through the good times, and the bad. During special moments I won’t forget. It has the power to shape every moment with the right notes and melodies. It has only recently become possible to have a limitless catalogue of music with you at all times – and when Spotify launched in October 2008 they made it possible. A lot has changed in ten years. Today, Spotify does even more than just music streaming. Let’s take a look at their track record and explain what other companies can learn from it to drive their digital business.
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German companies are fit for the digital transformation from the inside out. Not just external macro data such as the status quo of the online retail has proven this. Working methods and internal organisation are adapting to the pace of the digital world. Agile methods are no longer empty promises. On the contrary: Every other major company already relies on agile project management, as a from Bitkom Research makes clear (German only).
From cash to mobile payments. From password to fingerprint. The online payment sector is evolving rapidly to meet the steady pace of technological development and recent legislative changes within the EU. At the heart of these innovations are biometric payment procedures designed to ensure better security standards and a better user experience.
Why biometric payment methods via fingerprint or selfie become more important and why retailers and manufacturers should take this type of authentication seriously, we’ll share below.
After Summer is over and September rolls around, opportunities to review fresh input and goals come around. Events (like #dmexco) help businesses and decision-makers continually listen to the market and give guidance heading into the last quarter of the year. Market figures also serve as a basis for intensifying or adjusting business strategies.
Of course, the question arises, how fit is German online retail, which online shops are at the top, and what lessons can be learned?
Statista’s and the EHI Retail Institute’s annual study “E-Commerce-Markt Deutschland 2018” (Germany’s E-Commerce Market in 2018) provides answers.
Digital transformation or the radical change we’ve been able to witness since the late eighties does seem quite insane. This year the iPhone only turns 11 years. Google has just turned 20. The minds behind the brands seem inseparably linked with their success. Microsoft: Bill Gates. Google: Larry Page & Sergey Brin. Amazon: Jeff Bezos. Apple: Steve Jobs. Facebook: Mark Zuckerberg. And for those who still remember: studiVZ was founded by Ehssan Dariani und Dennis Bemmann.
» The people who are crazy enough to think they can change the world are the ones who do.
Steve Jobs «
But to what extent does the brands’ success depend on these iconized characters? What can CDOs and drivers of digital innovation learn from this?
Contactless payment with a smartphone, without use monetary notes, coins, or cards are the way of the future. But this isn’t anything new for many countries already. Forms of mobile payment have long been established and analogue forms of payment money a distant past. Compared to China or the USA, Germany is so old-fashioned in this aspect. On one side there Google and Apple and on the other the traditional German banks. Both want to change the way people in Germany pay for things every day.
But German customers and businesses don’t just change their ways because of “innovative” ways of doing things – even if analysts say a potential for change is very high.
Cross-border e-commerce is booming. Consumers are increasingly buying online and are increasingly attracted to foreign brands and retailers. Cross-border retail is, therefore, a great opportunity for brands and retailers looking for growth. But entering this market is not easy and requires a lot of preparatory work.
One of the questions that you should ask in advance is: Which channel offers the greatest opportunities in the target market? Do you start with your own localised version of the online shop or do you test marketplaces like Amazon, eBay, Tmall (Alibaba) oder JD?
Getting started with international e-commerce via the marketplace is not only worthwhile because of the lower initial costs. There are also countries where marketplaces are worthwhile because of user preference. In China, where Tmall and JD are the market leaders, online retail takes place in marketplaces primarily. In fact, brands like Burberry, Estée Lauder, Swarovski or RayBan, and others have opened stores on Tmall. In addition, retailers multiply their customer base via international marketplaces.
It was not so long ago when various scandals came to light about data abuse and fake news on Facebook. The company was taking heavy losses on the stock market and seemed to have lost credibility and charm to many users, stakeholders, and marketers.
But that hasn’t stopped the largest social network: Instagram’s attractiveness keeps growing, the company announced in the same breath with the bad stock market news. Especially among younger generations, the photo network is more popular than ever. Even Facebook itself wants to collect bonus points and drive innovation forward. The focus is on augmented reality.
This technology is also gaining in importance beyond the gaming industry. In fact, some companies are already focusing on this and are developing exciting, everyday use cases. The main focus is to make life easier in different circumstances (at work, when purchasing complex products, or building large machines).
Facebook wants advertisers to benefit from the potential of this cutting-edge technology even on the biggest social network.
Today, Brian Chesky and Joe Gebbia are multi-millionaires, but only ten years ago, the two had trouble paying their rent in San Francisco. Then one day in the summer of 2008 the idea came to them: They would rent air mattresses for people to sleep on in their apartment and offer guests breakfast AKA a bed and breakfast. A few weeks later, one of the world’s most valuable and transforming startups in the world was officially founded: Airbnb. The company is not only the world’s largest platform for the rental of private rooms and apartments, it is the global tourism provider of the Internet age.
The company succeeded in shaking the established hotel industry and changing our travel habits through sharing economy principles. The effects of this shake-up were and are enormous. Reason enough to take a look at the present and future of Airbnb.
A well-known economic phrase is: “You can only manage what you can measure”. And (personal) data is the new oil. The success of any marketing campaign is increasingly depending on proper data processing and analysis.
But the exponential increase in touch-points, communication channels, and customer data has sometimes made intelligent evaluation more difficult. That’s why more and more companies are relying on CRM systems to securely and easily capture and interpret customer data. The goal is to create the most satisfying shopping experiences possible.
Another marketing tool gaining momentum could perfectly complement existing customer data management tools: Customer Data Platform (CDP).