David & Goliath Must Dance™ Lunch - Travel, Leisure, Entertainment, Media Ecoystem
1. What is a David & Goliath Must Dance event ?
David & Goliath Must Dance events are hosted by EntrepreneurCountry Global in order to explore the challenges and opportunities faced by an industry that is transforming, in real-time, into an ecosystem. We see Ecosystems as facilitators of future marketplaces. Ecosystems are like nature. EntrepreneurCountry Global sees its role as helping to organize the raw assets, the climate, the inhabitants, the settlements, the needs and the offerings so that sustainable economics emerge and successful businesses prosper. It is precisely because this ecosystem is a bit ambiguous that we are interested in it.
A history and a calendar of these events are listed here.
Alex Cheatle – CEO of Ten Group
Alex Payne – Chief Customer Officer at Big Bus Tours
Anita Mendiratta – Founder and Managing Director at CACHET Consulting
David Scowsill – President and CEO at the World Travel & Tourism Council
Fabrizio Poli – Co-Founder at Tyrus Wings
Ian Shepherd – Chief Commercial Officer at Odeon and UCI Cinema Group
Jonathan Raper – Co-Founder and CEO at TransportAPI
Keith Johnson – Founding Equity Partner and Commercial Director at VIDiRO
Naser Ali – EMEA Marketing Director at MapR Technologies
Nick Alfillé – Partner at Memery Crystal
Paul Tarantino – UK & Middle East Director at MapR Technologies
Russel Coultart – Independent E-Commerce Consultant, Former VC at Universal Music Group
Sam Jones – Managing Director, Digital at Bauer Media
Simon Talling-Smith – CEO at Surf Air Europe
Stacey Anklam – Chief Operating Officer at autoGraph
Julie Meyer – Founder, CEO and Managing Partner at Ariadne Capital
Amit Pau – Managing Director at Ariadne Capital
Chris Autry – Senior Advisor at Ariadne Capital
Ilona Simpson – CIO in Residence and Senior Advisor at Ariadne Capital
For more photos click here
Highlights from our lunch featuring interviews with Alex Payne, Chief Customer Officer at Big Bus Tours; Fabrizio Poli, Co-Founder at Tyrus Wings and Sam Jones, Managing Director, Digital at Bauer Media.
3. Key Quotes
We – at Ariadne Capital - entertained a vibrant and engaging set of discussions focused on business model innovation, the strategic value of data as well as the importance of building partnerships between Davids and Goliaths. These are the key quotes;
- Ian Shepherd, Chief Commercial Officer at Odeon and UCI Cinema Group said, ’80 to 85% of the seats are empty. There are things as a business we are good at and others we are blind to, I am willing to embrace new things to get to 60% utilisation rather than 50%.’- I tend to say ‘Test and Learn’ so you can mess it up with little consequences.’ – There is a lot more collaboration in the start-up world, corporates tend to hide behind walls.’
- Simon Talling-Smith, CEO at Surf Air Europe said ‘We focus on frequent commercial travellers. Our innovation has been to abandon what commercial airlines have done and develop a subscription-based model. Our service relies on absolute rigorous simplicity.’
- Alex Payne, Chief Customer Officer at Big Bus Tours said ‘Our business is less about pricing but more about dynamics for instance migratory pattern of tourists could be an invaluable source of information for resource optimisation.’
- Jonathan Raper, Co-Founder and CEO at TransportAPI said ‘Millennials are changing the game, they are expecting an app-centric experience. ’ – On social media ‘It is always very easy to find negative sentiment but the contrary is harder to spot and businesses tend to be interesting in the latter.’
- Paul Tarantino, UK & Middle East Director at MapR Technologies said ‘The possibilities are endless, it is up to each business and stakeholders to find ways to monetise their data.’
- Naser Ali, EMEA Marketing Director at MapR Technologies said ‘Social media platforms give businesses’ access to different data set, which they need to find ways to monetise.’
- David Scowsill, President and CEO at the World Travel & Tourism Council said ‘In the advent of a terrorist attack, data could enable law enforcement to know where people are including the bad guys. It could even enable them to find out how they escape the scene, did the leave by car or by bus?’
- Stacey Anklam, Chief Operating Officer at autoGraph said ‘Getting the trust value from customers is key. My advice to businesses would be to get their customers to engage with your brand, get their trust and find ways to monetise their data.’ – ‘The question is who owns the data? There are also issues around procurement, intellectual property.’ – ‘We do a great job with digital optimisation but forget about the personal touch, we are still human after all.’
- Alex Cheatle, CEO of Ten Group said ‘There is tremendous inertia, when it comes to the B2B2C model, we usually have to fight to get the second B engaged. it should be all about enhancing customer or end-user experience.’
- Keith Johnson, Founding Equity Partner and Commercial Director at VIDiRO said ‘The social media phenomenon has fragmented TV viewing figures. The TV industry is trying to protect itself. It is not broken but it is not reaching as many people as it used to and that’s a challenge.’
- Sam Jones, Managing Director, Digital at Bauer Media said. ‘Technology is a natural friend of radio but a competitor from a publishing point of view. Our key USP is customer profiling based on customer data.’
- Anita Mendiratta, Founder and Managing Director at CACHET Consulting said ‘From the media point of view, social media is part of the media, it is not singular. One audience member does not just watch TV, they could be accessing content from their tablet or their mobile. The question is how do we utilise platforms and content?’ – ‘There is a reincarnation of brand value, traditional media have realised that part of their service is based on trust.’
- Fabrizio Poli, Co-Founder at Tyrus Wings said ‘It’s all about taking value in the market space, in the form of information, and wait for the right people to get in touch, that’s value creation.’
4. What were the key learnings
- Access to customer data and usage can give businesses’ insights into their operation and enable them to enhance their customer value proposition
- Customer data is at the heart of businesses’ digital optimisation strategy but customer experience should not be neglected
- Data ownership remains the point of contention – who owns the data? What about intellectual property?
- Social media platforms provide a wealth of data, which could be harvested and monetised
- Companies have a clearer picture of their consumers based on complex and varied data generated from a multiple origins, how do they then transform these data into something meaningful for the company?
- In a corporate setting, CIOs, CMOs, etc, are obsessed with data collection and analysis, however most of these data end up as ‘data exhaust’ and goes unused, or if it is used, it is used in a very limited and often binary capacity.
- Collaboration is key, it is paramount for large corporates to find ways to engage with start-ups
- Corporations need to be able to take risks and leave the old established thinking of corporate yesteryears behind
- Traditional brands value represent trust
- Customer data is a living, evolving platform
- End-users are evolving quickly, it is up to businesses to adapt
- Content is king, it gets people engaged and creates value for the market providing it is insightful
5. Ecosystem Economics®
An overview of Ecosystem Economics® can be found here.
The attendees of the Travel, Leisure, Entertainment, Media Ecosystem discussed how Digital Enablers and Goliaths could generate supra profits by incentivising individuals, creating digital revenues, and partnering with Natural Allies.
6. Digital Ecosystems
EntrepreneurCountry Global is building Europe’s largest Ecosystem focused on the Travel, Media, Leisure and Entertainment sector with partners whose customers total in the billions. This ecosystem will grow further.
We would like to invite you to become a Partner to the Travel, Leisure, Entertainment, Media Ecosystem. The Partnership will enable you to:
1. Understand how ecosystems are built by building one, and to develop your understanding of Ecosystem Economics® - the methodology for organising the economics of your ecosystem which has been adopted by leading firms, written about by leading academic institutions and presented to more than 500 Board rooms;
2. Identify and partner with Natural Allies - other Goliaths and Davids who are building leadership positions in the Smart Home arena;
3. Build a profile as a leader in this sector;
4. Have an early radar and dashboard for trends and insights in the Travel, Leisure, Entertainment, Media Ecosystem; and
5. Test Pilot Travel, Leisure, Entertainment, Media applications across the Ecosystem, not just inside your firm.
We are building a live digital ecosystem in the Travel, Leisure, Entertainment, Media; if you would like be involved , please send an email to firstname.lastname@example.org. We’ll be sending you weekly updates to inform you of developments in this ecosystem. Video interviews from the event will be broadcasted next week on our dedicated channel ECTV, while pictures have already been posted on our Facebook page, which you are welcome to join.
- Tags: 2016, Alex Cheatle, Alex Payne, Amit Pau, Anita Mendiratta, Ariadne Capital, autoGraph, Big Bus Tours, blog, CACHET Consulting, Chris Antry, Data, David Scowsill, Ecosystem, Ecosystem Economics, Entertainment, entrepreneurcountry, entrepreneurs, Fabrizio Poli, featured, global, Ian Shepherd, Ilona Simpson, Jonathan Raper, Julie Meyer, Keith Johnson, Leisure, MapR Technologies, Media, Memery Crystal, Naser Ali, Nick Alfillé, Odeon, Paul Tarantino, Russel Coultart, Simon Talling-Smith, Stacey Anklam, Surf Air Europe, Ten Group, terrorism, TransportAPI, Travel, Tyrus Wings, UCI Cinema Group, VIDiRO, World Travel Tourism Council