Prepaid Expo Day 3: Morning Recap

In the morning session of the 3rd and final day of the Prepaid Expo, a panel made up of industry executives discussed global markets, in a session titled, "Identifying Key Global Markets". In case you missed the session here is the list of the members of the panel: - Mike Hafer, SVP, Global Prepaid, Western Union - Brian Dunne, Managing Director, Incentive Marketing Association - Lee Manfred, Partner, First Annapolis Consulting - John Yeomans, General Manager, EMEA, FIS For those of you unable to attend the session, here is a quick recap: - Identify what segments you want to play in and what the needs of those segments are. - It has to be intuitive: make it as simple as possible. - The importance of local and cultural knowledge is critical. When you work with a local team, you have to relay on those people to be the experts. You have to listen. - You have to develop around the consumer - don't skip the customer research - Tip: There is quite a difference between wisdom and knowledge. Knowledge is knowing that a tomato is a fruit. Wisdom is knowing not to put it in a fruit salad. Look at the BIGGER picture.