A denim-clad Jack Dorsey took the stage Wednesday morning at the National Retail Federation’s Big Show in New York, claiming to be a man of “very few words and even fewer characters.”
“We hear [the word ‘technology’] so much it tends to lose its meaning,” the chairman of microblogging mainstay Twitter and CEO of payments app Square told a crowd of brands and the technology vendors seeking to sell them solutions. “At the end of the day, all technology is is a tool. A basic tool saves people time. A good tool gives people purpose and meaning. A great tool makes people love using it.”
Touching on his role as co-founder of Twitter, which recently went public, and Square, which is expected to facilitate $30 billion in transactions this year on behalf of its merchants, according to The Wall Street Journal, Dorsey said, “[O]ne of the things I’ve looked at in my career is, ‘How do we rethink things from a radical sense?' I find, in our industry, we’re too focused on the tiny parts instead of the broader cohesive wholes. That is where you can create an end-to-end experience.”
Dorsey explored how technology companies can strike a balance between innovation and mindfulness of consumer privacy when developing those experiences.
Focus on the follow-up. Not just the transaction.
“The one thing people take away in every commerce transaction is the receipt. Sometimes, it’s not taken and the reason it’s not taken is it’s not useful. At the end of the day, the merchant has very little information about the sale. That’s why cohesion is important. It removes the seams from all of these transactions. It’s not just the product or service people take away. It’s about what experience they have. There is a lot of focus on transactions -- mechanical objects and movements. It’s not about just improving loyalty or CRM or customer relationships. It’s about connecting the dots between those things, that lie between the transactions. … It has to be software that creates great experiences that doesn’t focus all the experience on the transaction.”