'M-Commerce 2.0': How Personal Data will Revolutionize Payments, Advertising & Customer Experiences
ANNOUNCEMENT: Telco 2.0 joins forces with the World Economic Forum to launch special 'Executive Brainstorms' in New York and London for senior execs from the comms, media, banking, advertising, retail and tech sectors on 'M-Commerce 2.0: how personal data will revolutionize payments, advertising and customer experiences'. More details below:
'Social, Local and Mobile' (SoLoMo) Internet services are 'the next big thing' say leading analysts. The secret sauce is the exploitation of the huge volumes of rich personal data that these services both use...and also generate.
In parallel, there is a growing and potentially countervailing political consensus that says that individuals should be more fully in control of their digital identities and data, partly to protect their privacy and partly because the data should be seen as a new class of economic asset and thus should be treated as private property which can't be exploited by 3rd parties without the knowledge and/or consent of consumers, subscribers and users.
These forces are creating new business opportunities and potential threats for telcos, cablecos mediacos, banks, brands and retailers, particularly in the fields of payments, advertising and 'customer experience'.
To explore and clarify these opportunities Telco 2.0, in collaboration with the World Economic Forum (WEF), has created a new research and events programme called 'M-Commerce 2.0'. The programme kicks off with a special event in New York (on the 5th-6th October) co-located with the WEF's international Strategists Meeting, and swiftly moves to London (on the 9th-10th November).
Below is an introduction to the research and events agenda. If you'd like to participate or have more details, please contact us.
M-commerce (commerce enabled by mobile connectivity) now amounts to far more than purchasing ringtones and other digital content using a handset.
So-called SoLoMo (Social, Local and Mobile) Internet services are using the huge volumes of personal data being captured by smartphones and mobile networks to engage with consumers in innovative ways, creating new business opportunities across a wide range of industries from media to advertising to retail.
At the same time, a flowering of new intermediaries, such as Personal.com, Atigeo and Reputation.com, are looking to give consumers greater control of their digital identities and personal data to help them realize the economic (and social) value of these latent assets. Moreover, new legal frameworks are beginning to emerge that aim to safeguard trust and security by giving consumers control over how their personal data can be collected and used.
Additionally, emerging standards, such as HTML5, NFC, XRI and UltraViolet, together with the concept of a federated social identity, promise to make it easier for content and services to work across different technology platforms and on multiple screens.
These trends, and the technological and commercial innovation associated with them, open up many new - and potentially disruptive - opportunities and threats across multiple sectors (retail, advertising, banking, telecoms, media and technology) and have significant policy implications for government, regulators and 'civil society' in general.
Our research and event agenda over the next 4 months - involving commercial and academic leaders from telecoms, media, advertising, retail, banking, government and technology sectors - will cover:
1. M-commerce 2.0 - The new wave: how the mobile Internet is changing consumer behaviour, the emergence of new types of services, the evolving political, legal and regulatory climate for 'personal data' and digital identities, the importance of user-centric solutions and the potential of new enabling technologies.
2. Innovators' Showcase - quick fire presentations from leading start-ups in personal data and ID management, location-based marketing, vendor relationship management, social commerce and augmented reality, reviewed by leading investors and analysts.
3. Advertising 2.0 - using personal data to drive highly-relevant, timely and interactive consumer engagement. From 'push' to 'pull'.
4. Customer Experience 2.0 - giving customers and users compelling experiences, while preserving trust and confidence.
5. M-Payments 2.0 - the next generation of authentication and payment mechanisms and the value of transactional data.
6. Making 'M-commerce 2.0' happen - identifying the next steps for individual companies and the broader ecosystem.
(NB: see also The Privacy Bomb - How to Tame and Feed 'Big Data' - a guest post by Dr. John Clippinger, Co-Director of the Law Lab, Berkman Center for Internet & Society, Harvard University).