fronteer strategy presentation efinancials co creation nov 2010
TRANSCRIPT
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10 STEPS FOR SUCCESSFUL
CO-CREATIONIN FINANCE
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EFINANCIALS2010
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
Door: Martijn PaterFronteer Strategy
Amsterdam, 4 November 2010
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TOUCHPOINTS
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
“Dear Bank of America: Despite being an overwhelmingly large and powerful banking entity, I find you wildly inept. For this reason, I feel as though we ought to part ways. It's not you - it's me. I need to try and find myself, and feel it unfair to stay with
you. Be well, BofA. Yours always, disgruntled banking patron"
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EMPATHY
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Top-10 Empathic Brands 2010
9
Attractive
Empathic
Source: Ruigrok Netpanel, Fronteer Strategy
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1,5 2,0 3,0 4,0 4,53,5
1,5
2,0
3,5
4,0
4,5
EMPATHISCH
2,5
AANTREKKELIJK
2,5
Derde variabele zichtbaar in grootte van stip: Innovatief
Efteling
RTL4
PhilipsSony
Nokia
Samsung
Canon
Apple
PanasonicLG
Dirk van der Broek
Plus
Aldi
LidlJumbo
C1000
Blokker
Hema
Albert Heijn
Bol.comIkea
Jupiler
Grolsch
Heineken
Nescafe
Cup a Soup
Coca Cola
Douwe Egberts
Pickwick
Tele2
XS4ALL
UPC
Ziggo
KPN
FoodDrankenRetailBankenInternetprovidersElectronicaOverigFriesland Bank
Van Lanschot
Triodos ASN Bank
SNS Bank
ABN Amro
RabobankING
Cela VitaLassie
Grand ItaliaBertolli
Maggi
Heinz
UnoxHonig
Knorr
Conimex
Calve
Remia
10
Category differences
Source: Ruigrok Netpanel, Fronteer Strategy
Top-10
Banks
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MEGATRENDS
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
AUTHENTICITY
TRANSPARENCY
DESIGN
COLLABORATION
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10 STEPS FOR SUCCESSFUL
CO-CREATION
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
1. Realise one thing2. Define your strategy3. Inspire participation4. Select the very best
5. Connect creative minds6. Share results
7. Continue development8. Think R.O.I.
9. Get the IP right10. Mobilise internally
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“Co-creation unlocks the collective creativity of
people to create deeply relevant solutions.”
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What is it?
Source: Copenhagen Co-creation
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
1. Realise one thing
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“No matter who you are, most of the smartest people
work for someone else.”
Bill Joy, Founder Sun Microsystems
Why?
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Unpredictable systems
18 Source: Banny Bannerjee, Stanford University
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
2. Define your strategy
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Club of Experts
Crowd of People
Community of Kindred Spirits
Coalition of Parties
Anyone can join
Selection process
Initiator Initiator + Contributors
Ownership
Open-ness
FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
4 Types of Co-creation
20 Source: Fronteer Strategy Whitepaper
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Club of Experts
Anyone can join
Selection process
Initiator Initiator + Contributors
Ownership
Open-ness
FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 21
4 Types of Co-creation
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IHG/Chase priority club members
22Source: Communispace
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 23
Centraal Beheer
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Crowd of People
Anyone can join
Selection process
Initiator Initiator + Contributors
Ownership
Open-ness
FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 24
4 Types of Co-creation
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DBS crowdsourced youth-bank
25 Link: The Financial Brand
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Rabo Chatbetalen Campaign
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Community of Kindred Spirits
Anyone can join
Selection process
Initiator Initiator + Contributors
Ownership
Open-ness
FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 27
4 Types of Co-creation
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Flattr social micropayments
FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. Link: Flattr29
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Coalition of Parties
Anyone can join
Selection process
Initiator Initiator + Contributors
Ownership
Open-ness
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4 Types of Co-creation
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Pin banking coalition
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Corsini Due home-owner funded
Link: Corsini Due site
FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 32
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
3. Inspire participation
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Link: Worldbank site34
Worldbank software sourcing
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Obama crowdfunding
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
Source: Dailycrowdsource.com
South Valley Bank & Trust
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
4. Select the very best
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 38 Source: Forrester
Many people wanting to co-create
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
100% Consumers
1% Creators
10% Synthesizers
But you have to look for your 1%
39 Source: Fronteer Strategy Whitepaper
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 40
FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
Explorers
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 41
FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
Heroes
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 42
FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
Innovators
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Eyeopen expert club
43 Link: Eyeopen
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
5. Connect creative minds
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Fool’s Gold
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Innotribe collaboration platform
46 Source: Business Week
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DSB The Movie co-created
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
6. Share results
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ING Klantdialoog
49 Link: ING site
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Interpolis beoordelingen
50Link: Interpolis site
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
7. Continue development
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Centraal Beheer innovatieproces
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
8. Think return on investment
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Open Innovation ROI
55
BIGGER...
BETTER...
FASTER...
Results
STRONGER...
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Innocentive
Cost savings.Savings from faster research process.
Access to a diverse network of experts.Fostering a more innovative culture.
Smoother IP transfer process.
ROI of 74%
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Source: Innocentive, Forrester
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
9. Get the IP right
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With:
58
‘The Amsterdam Model’
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What will the future bring?
How will value be distributed?
Who owns what?
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
10. Mobilise internally
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DRIVERS:
Reputation Building
Sense of belonging
Networking
Peer recognition/Status
Job market opportunities
Fun & involvement
Skill-Building
New challenge
Love the brand
Money (never main driver)
BARRIERS:
Unclear rewards
No interest in the challenge
Trust
Participants’ Drivers & Barriers
61
Source: Fronteer Strategy
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FansAmbivalentOpposers
Anna Kirah
Source:
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Internal bloodgroups
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DANK U
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ABOUT FRONTEER STRATEGY
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Fronteer Strategy
Innovation.
Co-creation.
Brand Development.
Change.
Leading Co-creation consultancy.
Blue chip client base in The Netherlands and abroad.
People’s background in fashion, design, engineering, marketing, consulting
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ROOFTOP™Expert Co-creation
FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
We offer in co-creation
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CAMPSITE Community Co-creation
Link: Fronteer Strategy
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Links Visit our website
www.fronteerstrategy.com
Updates from the Fronteer
www.fronteerstrategy.com/blog/
Follow us on twitter
twitter.com/fronteerstrat
twitter.com/martijnpater
Slideshare
www.slideshare.net/Fronteer
Our whitepaper on co-creation
Co-Creation’s 5 Guiding Principles
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