Future Focused Initiatives
As Tesla and other new entrants have shown, the car lot of the future might operate more like an Apple Store, where customers can touch, test drive, and get their questions answered while a limited inventory is kept on-hand. Brands will need to decide if they should emulate this model or find another path.
Connected Car Vision
With connectivity becoming the norm, vehicles will be the next battleground to vie for people’s digital attention, opening avenues for expansion. Now is the time to invest in new revenue streams through offerings like aftermarket upgrades, infotainment systems, fleet management solutions, and cloud-based telematics.
Business Model Reinvention
Companies have been experimenting with subscription services to get people from point A to point B, but no one’s gotten it right. To succeed in the next decade, we need to reinvent the entire ecosystem, from shopping and acquiring vehicles to using and servicing them.
Widespread Empathy: Rewiring Your Corporation for Intuition
The difference between good companies and great companies is not the quality of their ideas. It’s their ability to anticipate and act on the needs of their customers. Widespread empathy is about getting every single person in an organization to have a gut-level intuition for the people who buy their products and services–the folks who really matter.
The Data Addiction
The biggest problem with the proliferation of data is the belief that more data leads to more informed decision making. Smart leaders know that too much data, or the wrong kind, leads to information overload and obscures the things that really matter. Curating the right data and using it to actively learn are the keys to getting the most out of your investment.