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The Continuing Evolution of Customer Experience
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Kelly22
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Kelly22,
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2/25/2014 | 9:37:14 PM
re: The Continuing Evolution of Customer Experience
Good point; it's better to have a win-win situation for two firms than have one company spend years trying to change its culture - something that not only takes a long time but is very difficult to accomplish.
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
2/25/2014 | 9:05:01 PM
re: The Continuing Evolution of Customer Experience
Good move by BBVA to acquire an operation like Simple given the lack of similar organizations out there that Goodson mentioned.
KBurger
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KBurger,
User Rank: Author
2/25/2014 | 8:25:51 PM
re: The Continuing Evolution of Customer Experience
This reminds me of a (somewhat) similar deal that took place a few years ago in the insurance industry -- when Allstate (large traditional insurance carrier) acquired Esurance (newer online-based upstart insurance carrier that had created an edgy, young innovative brand/image). As established companies seek to innovate, change their cultures and engage with a younger demographic, in many cases it may make more sense to acquire that kind of expertise and culture, rather than take the years necessary to totally transform the larger organization. Then the "traditional" company gains the customer, technology and procedural benefits of the newer company, can learn from it; and, as you suggest will happen with Simple, the newer firm will gain resources, scale, market share, etc.


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