Amazon: the risk of success
I'll make one last comment on the whole "Amazon Rude CTO" flap (see Shel Israel's post entitled "Why Amazon Should Blog"), and that is that Amazon's great success over the past decade (since 1995) itself poses a great risk for the company. It's difficult to achieve success, but it's far too easy to build a fortress around that success and try to protect it like gold at Fort Knox. The only proven technique for "guarding" your success is to, as they say, "eat your own children", meaning that you must innovate the obsolescence of your own cherished business systems. There are all sorts of terms like "Innovator's Dilemma", "Creative Destruction", "Disruptive Technologies", etc. that make the point that attempting to treat your "success" as an inherently protectable "asset" is a big, big mistake. The biggest mistake that a business can possibly make.
What the Amazon Rude CTO flap seems to demonstrate is an attempt by Amazon to raise the drawbridges and retreat inside the warm and comfortable fortress that has protected them over the past decade. That is a huge mistake.
By hiding behind demands for hard numbers and holding up impossible standards for new ideas, Amazon is committing the single biggest sin that any business can make: they are unnecessarily cutting off options, the kind of options that can present either great opportunities for their future success, or great opportunities for some new, small, nimble up-start start-up to unseat an arrogant incumbent.
With that, I shall formally retire from The Great Amazon Rude CTO Flap of 2006... unless somebody at Amazon decides to further stir the pot.
In its place, I will renew my original "invitation" for Amazon's top and middle management team to place a blog front and center on their main web page and start engaging customers and other stakeholders in true, meaningful, naked conversations.
-- Jack Krupansky
Grrrrrrrrr...
There is nothing wrong with the Wells Fargo blog per se, but it is *not* an example of a business trying to "converse" with its customers and other stakeholders in a way that is meaningful to the purposes that customers have for wanting to do business with them.
Now, I actually am a Wells Fargo customer and actually don't have any significant complaints about them, but... Where are the "naked conversations"?
Yes, the 1906 earthquake is always a great topic of interest, but... where's the *relevance* to what us customers are expecting from the bank?
I have plenty of topics I'd love to discuss with big banks, but I assure you that discussions of earthquakes and history are *not* on my list.
I have other financial services business that I don't do with the bank for various reasons... why isn't Wells Fargo blogging in a way that at least tries to get at meeting customer needs that they aren't currently meeting?
I'm not saying that the WF blogging effort isn't "okay", but it appears to be a *diversionary* effort to *avoid* talking about... business and the needs and interests of customers.
Notice how many comments you see on their blog? (One.) One look at the disclaimer and caveats and I can assure you that I would *never* place a comment on their blog. In other words, they've set up a blog that by definition *can't* have "naked conversations".
Maybe some of these restrictions are required by government regulations, but can Wells Fargo honestly say that they have exhaustively pursued working with regulators to enable real blogging (true "naked conversations")? I suspect that WF could set up a distinct business unit/subsidiary that would be part of the parent company, but with an arm's length distance from the actual banking operation so that the banking regulations won't be an issue. It sounds like they haven't even *tried*.
Just to close on a note of constructive criticism, and hoping that Wells Fargo is reading these comments, here are three complaints for the bank to address concerning their web site:
1) Your web site doesn't support IE 7 Beta. Even my stock broker, electric utility, and the evil IRS do.
2) Your web site isn't set up so that browsers (IE, Firefox, et al) can save my login id and password.
3) I see no "Blog" button on your main web page.
Memo to Wells Fargo: Enough toe-dipping already... lets see some hard-core, skinny-dipping "naked conversations".
Any questions?
Sigh.
-- Jack Krupansky