
Recently, I had the honor of being selected as one of Ernst & Young’s 2011 Entrepreneurial Winning Women. The Award offered the opportunity to attend the Strategic Growth Forum (SGF) in Palm Springs, where more than 2,300 of the world’s top CEOs and other business leaders gathered to:
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• Master strategies for company growth
• Learn the ins and outs of doing business in emerging markets
• Learn critical success factors for mergers, acquisitions and IPOs
I was blown away by the quality of the programing, the ease of networking during the conference, and the resources invested in the event by E&Y. One attendee mentioned that the event budget was around $13 million. Incredible!
From the 5 days of panels, speakers, Q&As and presentations, I took away 5 key insights:
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1. We all have blind spots.
Francis Ford Coppola commented that even the most forward-thinking companies can be blind to opportunities sitting right before their eyes. IBM invented a copy machine but couldn’t convince executives it was necessary. Similarly Xerox invented the PC but didn’t see the full future potential. Coppola noted that generally people are conservative, and when you do something differently, people see you as an oddball. However, “The things they fire you for when you are young are the same things you find yourself getting a lifetime achievement award for when you are old.” I wondered, what does this say about opportunities for us to move user experience forward? Are we missing obvious opportunities right before our eyes?
2. Customers now own brands, too.
In the old days, we saw brand mainly as a marketing and advertising effort. With the digital age, we saw that the online user experience became an extension of a company’s brand. Now, with social media, people have become owners of brands as well. Harley-Davidson riders are starting to do advertising for the company. Oreo cookies have 23 million Facebook fans constantly engaged in dialogue. Because of the strong role of consumers, there is less margin for a company to veer off brand message. Claudia Poccia, President and CEO of Curwitch Products said customers “shape the brand, personalize it and engage with it in real time. This relationship . . . must be totally authentic and transparent – because the experience can all change on a moment’s notice.”
3. Pharma 3.0: Patient Outcomes & Digital Devices
Healthcare and Pharma 3.0 involves an extreme focus on ensuring that patients have positive outcomes from their prescriptions and programs. As a result, companies are investing more in technologies and devices that allow them to drive compliance and monitor patient progress. One technology that has taken off is the smartphone app. Between 2006 and 2009, 11% of Pharma 3.0 initiatives were smartphone apps. In 2010, the segment exploded, and 41% were smartphone apps. The user experience of digital home devices and apps will be critical to compliance. Can diabetes patients effectively monitor their blood glucose and transmit results to their doctors? What will be the most effective way to communicate feedback from devices? How can smartphone apps best be integrated with patients’ lives to drive adherence? UX research in this space will be the key to successful patient outcomes.
4. CEOs Get That Best Insights Come from Customers.
Across various Q&A sessions and panels, I was thrilled to hear that leading CEOs truly understand their best insights come from talking directly with their customers. The CEO of 1-800 Flowers, Jim McCann, commented that their customers actually developed their best-selling product. Michael Dell stated, “The best insights come from customers, even if they want something new but can’t imagine what.”
5. Speaking Skills Don’t Tell the Whole Story.
I always had the impression that former President George W. Bush might have been lower on the intelligence scale due to his lackluster performance as a speaker. As President, he often looked like a deer caught in the headlights and made numerous verbal missteps. After listening to his fireside chat at SGF, I realized I’d completely judged him unfairly. In conversation with James Turly, Chairman & CEO of Ernst & Young, Bush was poised, confident, witty, charming, self-effacing, and entirely more knowledgeable on world affairs and the office of the President than I’d previously credited him. Lesson learned: personalities can change a great deal when someone takes the mike.


