Half Moon Bay that is at Fortune’s Brainstorm Tech. Reflecting on what I found to be some of the best ideas shared yesterday:
- How can social media be leveraged to make your employee talent more highly engaged? Gary Hamel of London Business School cited a Towers Perrin study across 16 countries, and it found that nobody has more than 20% of employees who say they feel highly engaged. If we can engage customers, allow them to congregate and engage with collectively work around a problem, why can’t we do more with our talent?
- Where is your platform strategy? This was a recurring theme; that innovative companies are providing platforms as a strategy to allow others to build things for them.
- CC Per Annum. OK, I just made that up, but after hearing CEOs Michael Dell, Marc Benioff and Brad Smith all cite at different times in the afternoon just how many customer conversations their companies are having annually, I think we’re going to start seeing that as a communications department proof point in an effort to show innovation from the outside in. For the record, Intuit has two billion customer conversations per year.
- Books, toys and web services? I had wondered how Amazon Web Services had come to be. Jeff Bezos shared that Amazon built web services for themselves over four years ago in an effort to free up their engineering hours that were not directly adding customer value. The idea came up a few years after that to get into the web services business. I also like the analogy he used – that we’re moving into a new world where like a brewery, they’ll be able to focus on the beer and not on having their own power generator to produce it.
- Best insight of the day: Small business owners will happily share tips and advice with other similar small business owners as long as they’re not in the same zip code. Florist to florist, etc. Just think of the opportunities to facilitate that for a company like Intuit.
Which brings me to the some of the best remarks of the day, made by Intuit CEO Brad Smith. I had never seen Mr. Smith speak before, and he has a pretty polished approach, so much so that I worried he was going to be too smooth and salesy. Many around me agreed. But he ended up surprising us all and really delivered a candid commentary on his challenge; He said they’re asking themselves at Intuit, will their 25 years of success be an accelerant or inhibitor? He says the answer is with the youth in the company. He gave a great anecdote. TurboTax is a 20+ year old product, so there is resistance to change. An engineer proposed that they put the live user community inside the product for the first time – so users can talk to other users while doing taxes. They took a risk, did a test. Guess what happened? 44% of users asked the questions and got community answers, and at a higher accuracy rate than ever before. He concluded, “And it cost us zero.”
It was a great day. And I’m looking forward to more. Oh yeah, and Neil Young is here.