A Business Model that Will Save Your Bottom Line (and the Planet) with Ronen Samuel, the CEO of Kornit

What if to save and sustain the planet, it meant unleashing creativity with personalized, on-demand fashion? It may sound too good to be true, but Ronen Samuel, the CEO of Kornit Digital, explains why this model is both immensely profitable for business and utterly essential for the world. 

At Kornit, Ronan is combining the concepts of personalization and customization with a mission of sustainability and efficiency. The outcome is a business model that both saves its bottom line and saves the planet in the process. So how exactly is Kornit leveraging these ideas to transform the fashion industry? And in what ways is the company bridging the physical and virtual worlds to create what’s never before been created? Find out on this episode of Business X factors.

Main takeaways: 

• Customization is Key: Custom or luxury experiences used to be available only to the upper echelons of spenders, but ecommerce has made custom experiences more accessible, which is something that today’s consumers require. Research by Accenture has indicated 91% of customers prefer to work with a brand that offers them recommendations and remembers their preferences. Buyers want to feel like they have bought something special, so this should be your priority. 
• The Need For Speed: A survey by BCG found that overlong development times were the most-cited obstacle to generating returns on innovation and product development. On the flip side, the survey found that fast innovators were more likely to be strong innovators and that the benefits of speed are faster innovation, lower development costs, larger market share, and greater forecasting accuracy. 
• Where’s My Avatar?: Forward-thinking brands are starting to push digital avatars into another orbit. Einstein Marketing believes that a customer avatar – a detailed profile of your ideal customer – should be a fundamental element of a marketing strategy. It will help product development, content marketing, help you to target the ideal customer, and improve user experience.

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