The Value of Loose Change
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The document discusses the decline of physical cash, specifically loose change, and how it will transform in a cashless society. It highlights various global statistics on cashless transactions and emphasizes emotional motivations behind charitable giving. The author encourages businesses to consider value exchanges beyond monetary transactions and to innovate in understanding customer needs and motivations.
The Value of Loose Change
- 1. The Value of Loose Change Erik Johnson, contact@erikjohnson.org @heyerok
- 2. A short story about a bad day and good music
- 12. Loose Change
- 17. Busker
- 18. Question: How much cash do you carry?
- 19. $100? or less
- 21. $50? or less
- 22. $20? or less
- 23. NONE?
- 24. Cash Americans carry on a daily basis
- 25. Half of Americans carry less than $20
- 26. 1 in 10 Americans don¡¯t carry cash
- 27. Tender preference for small purchases
- 28. Loose Change as small bills and coins in our pockets is disappearing!
- 29. Loose Change will still exist in a cashless society in another form.
- 30. Loose Change will still exist in a cashless society in another form.
- 31. Loose Change will still exist in a cashless society in another form. #watercycle
- 32. Highest Proportions of Cashless Transactions Advanced 61% Singapore 60% Netherlands 59% France 59% Sweden 57% Canada 56% Belgium 52% UK Mastercard Advisors / McKinsey Tipping Point 45% United States 35% Australia 33% Germany 29% South Korea Transitioning 16% Spain 15% Brazil 14% Japan 10% China
- 34. 1 2
- 35. 1 2
- 36. 1 2
- 37. Why do these moments matter? & Why do we give?
- 39. Heart over Head ¡°...people are much more responsive to charitable pleas that feature a single, identifiable beneficiary, than they are to statistical information about the scale of the problem being faced.¡± https://www.theguardian.com/voluntary-sector-network/2015/mar/23/the-science-behind-why-people-give-money-to-charity
- 40. The Warm Glow
- 44. We give because we value the Experience of the Warm Glow
- 47. Giver Loose Change Digital Currency? ??? Busker Experience Warm Glow Busker Value Exchange
- 48. Give back to yourself! BoA ¡°Keep the Change¡±
- 49. Types of Value Exchange Monetary Value Payment (revenue) Payment Commitment Payment (cost) (Loose Change, Digital Currency) Credits Non-Monetary Value Product Service Data / Information Right Exposure/Attention Experience Content Knowledge https://www.cooper.com/journal/2016/5/from-cx-to-cvx-delivering-and-capturing-value-by-design
- 50. Types of Value Exchange Monetary Value Customer Non-Monetary Value Business
- 51. Types of Value Exchange Monetary Value Non-Monetary Value Customer Business Non-Monetary Value Business
- 52. Types of Value Exchange Monetary Value Non-Monetary Value Customer Business Partner Non-Monetary Value Business Partner
- 53. Types of Value Exchange Monetary Value Payment (revenue) Payment Commitment Payment (cost) (Loose Change, Digital Currency) Credits Non-Monetary Value Product Service Data / Information Right Exposure/Attention Experience Content Knowledge
- 54. Giver Loose Change Digital Currency Information Exposure/Attention Content Busker Experience Warm Glow Music Exposure Attention Knowledge Busker Value Exchange
- 56. GiverHomeless Charity (Organization) Homeless + Charity Value Exchange
- 57. Summary & Recap
- 58. Loose Change as small bills and coins in our pockets is disappearing!
- 59. Loose Change will still exist in a cashless society in another form.
- 60. Brands in the future will need to deal in different currencies - beyond just money
- 62. What¡¯s Your Loose Change?
- 63. 1 Find something that deeply moves you A moment An experience A segment of individuals
- 64. 2 Understand and unpack existing values Human Centered Research Find motivations and needs Experience Map or Service Blueprints for touchpoints
- 65. 3 Think about your customers as partners Your customers are complex Think win-win Who are unlikely partners?
- 66. 4 Brainstorm and prototype proposed Value Exchanges Fail early and often Learn quickly Iterate