csra1

Past Issues

Themes

Strategic Opportunities

E-commerce Tools for Digital Transformation

Join Discussions

I invite your voice in these conversations on other blogs:

Ethnographic Research for Business Innovation Using Social Media

Ethnographic Research for Business Innovation Using Social Media: de-risk innovationEthnographic research for business innovation shows how to apply ethnographic research of social media to managing controlled disruption within organizations. Ethnographic research of social media can transform the entire innovation process because it’s a very efficient way to study the behavior and motivations of the people that the innovation proposes to serve. Unlike traditional innovation and ethnographic research methods, which are relatively slow, costly and qualitative, ethnographic research of social media combines qualitative richness with quantitative analysis. It’s faster and less costly, too.

Ethnographic research for business innovation can dramatically improve the depth and breadth of business and corporate strategy, business design and service design research since it allows teams to consider more users and to assess their behavior and motivations, which can improve the value of more costly research.

This post outlines the business innovation use case of ethnographic research of social media, and it includes examples in banking, professional services, consumer products, and B2B marketing. For more on ethnographic research, see More Resources below.

[…]

Bank Branch Disruption Enables Unusual Opportunity

Branch disruption enables unusual opportunity for bank executives who consider transforming their relationships with clients. More generally, retail banking provides an excellent example of an Industrial Economy industry whose services are facing commoditization and weakening profits due to the waning of the Productized Channel of Value. In 2013, bank branch networks are under intense scrutiny because they are expensive, and client visits have been falling steadily for several years as e-banking and m-banking adoption have accelerated. Astute banks will use branches to transform their client relationships by leveraging the Social Channel. Here’s how they will do it.

[…]

Size and Value of Bank Branch Networks

Banks are under intensifying profit pressure, so all are reexamining the size and value of bank branch networks. In How Many Bank Branches Do We Need in the U.S., posted in Celent Banking Blog, Bob Meara offers a brief discussion of the concept of “branch flexing,” as coined by Oliver Wyman to describe optimization. It’s no surprise that banks are questioning their massive branch expansions during the 2000s, especially in light of increased capital requirements and regulatory costs, which increase cost of operations. Moreover, margins are razor thin as interest rates are at historic lows.

What does this mean for branches? I’ll offer a surprising alternative.

[…]