Fronteer strategy presentation efinancials co creation nov 2010

10 STEPS FOR SUCCESSFUL CO-CREATION IN FINANCE

EFINANCIALS 2010

Door: Martijn Pater Fronteer Strategy Amsterdam, 4 November 2010 FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT.

TOUCHPOINTS

“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" FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 7

EMPATHY

Top-10 Empathic Brands 2010 Attractive Empathic 9 Source: Ruigrok Netpanel, Fronteer Strategy

Top-10 Category differences 4,5 AANTREKKELIJK Pickwick Philips Douwe Egberts Conimex Albert Heijn Sony 4,0 Calve Hema Ikea Honig Knorr Unox Bol.com Samsung Coca Cola Efteling Canon Maggi Blokker Nokia RTL4 Remia Bertolli 3,5 Cup a Soup Grand Italia Apple Heinz KPN Nescafe Rabobank Banks Lassie Cela Vita Lidl Panasonic LG Aldi ING Heineken Grolsch Jumbo C1000 EMPATHISCH 1,5 2,0 2,5 3,0 3,5 4,0 4,5 Plus ABN Amro Dirk van der Broek Ziggo Jupiler UPC 2,5 Food SNS Bank XS4ALL Dranken Retail Tele2 Banken Van Lanschot 2,0 Internetproviders Triodos ASN Bank Electronica Friesland Bank Overig 1,5 Derde variabele zichtbaar in grootte van stip: Innovatief 10 Source: Ruigrok Netpanel, Fronteer Strategy

MEGATRENDS

AUTHENTICITY TRANSPARENCY DESIGN COLLABORATION FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 12

10 STEPS FOR SUCCESSFUL CO-CREATION

1. Realise one thing 2. Deﬁne your strategy 3. Inspire participation 4. Select the very best 5. Connect creative minds 6. Share results 7. Continue development 8. Think R.O.I. 9. Get the IP right 10. Mobilise internally FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 14

What is it? “Co-creation unlocks the collective creativity of people to create deeply relevant solutions.” 15 Source: Copenhagen Co-creation

1. Realise one thing FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 16

Why? “No matter who you are, most of the smartest people work for someone else.” Bill Joy, Founder Sun Microsystems 17

Unpredictable systems 18 Source: Banny Bannerjee, Stanford University

2. Deﬁne your strategy FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 19

4 Types of Co-creation Anyone can join Crowd of Community of People Kindred Spirits Open-ness Selection Club of Coalition of process Experts Parties Initiator Initiator + Contributors FRONTEER Ownership STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 20 Source: Fronteer Strategy Whitepaper

4 Types of Co-creation Anyone can join Open-ness Selection Club of process Experts Initiator Initiator + Contributors FRONTEER Ownership STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 21

IHG/Chase priority club members Source: Communispace 22

Centraal Beheer FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 23

4 Types of Co-creation Anyone can join Crowd of People Open-ness Selection process Initiator Initiator + Contributors FRONTEER Ownership STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 24

DBS crowdsourced youth-bank 25 Link: The Financial Brand

Rabo Chatbetalen Campaign 26

4 Types of Co-creation Anyone can join Community of Kindred Spirits Open-ness Selection process Initiator Initiator + Contributors FRONTEER Ownership STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 27

Peerbackers community equity 28 Link: Peerbackers

Flattr social micropayments FRONTEER STRATEGY INNOVATION. CO-CREATION. 29 BRAND DEVELOPMENT. Link: Flattr

4 Types of Co-creation Anyone can join Open-ness Selection Coalition of process Parties Initiator Initiator + Contributors Ownership 30

Pin banking coalition 31

Corsini Due home-owner funded FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 32 Link: Corsini Due site

3. Inspire participation FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 33

Worldbank software sourcing 34 Link: Worldbank site

Obama crowdfunding 35

South Valley Bank & Trust FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 36 Source: Dailycrowdsource.com

4. Select the very best FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 37

Many people wanting to co-create FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 38 Source: Forrester

But you have to look for your 1% 1% Creators 10% Synthesizers 100% Consumers FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 39 Source: Fronteer Strategy Whitepaper

Explorers FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 40

Heroes FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 41

Innovators FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 42

Eyeopen expert club 43 Link: Eyeopen

5. Connect creative minds FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 44

Fool’s Gold 45

Innotribe collaboration platform 46 Source: Business Week

DSB The Movie co-created 47

6. Share results FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 48

ING Klantdialoog 49 Link: ING site

Interpolis beoordelingen Link: Interpolis site 50

7. Continue development FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 51

Centraal Beheer innovatieproces 52

8. Think return on investment FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 53

ABN AMRO Seeds Crowdfunding 54 Link: Seeds site

Open Innovation ROI BIGGER... BETTER... FASTER... STRONGER... Results 55

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% Source: Innocentive, Forrester 56

9. Get the IP right FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 57

‘The Amsterdam Model’ With: 58

What will the future bring? How will value be distributed? Who owns what? 59

10. Mobilise internally FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 60

Participants’ Drivers & Barriers DRIVERS: BARRIERS: Reputation Building Unclear rewards Sense of belonging No interest in the challenge Networking Trust Peer recognition/Status Job market opportunities Fun & involvement Skill-Building New challenge Love the brand Money (never main driver) Source: Fronteer Strategy 61

Internal bloodgroups Fans Ambivalent Opposers Source: Anna Kirah 62

DANK U

FRONTEER Martijn Pater STRATEGY martijn@fronteerstrategy.com I N N OVAT I O N. C O - C R E AT I O N. B R A N D D E V E L O P M E N T.

ABOUT FRONTEER STRATEGY

Fronteer Innovation. Co-creation. Strategy 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 67

We offer in co-creation ROOFTOP™ CAMPSITE Expert Co-creation Community Co-creation FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 68 Link: Fronteer Strategy

Visit our website Links 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 69

Fronteer strategy presentation efinancials co creation nov 2010

by Fronteer Strategy on Nov 05, 2010

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Fronteer strategy presentation efinancials co creation nov 2010 — Presentation Transcript