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...
TOUCHPOINTS
5
6
“Dear Bank of America: Despite being
  an overwhelmingly large and powerful
  banking entity, I find you wildly inept.
   F...
EMPATHY
Top-10 Empathic Brands 2010

 Attractive




                                            Empathic
               9   Sourc...
Top-10
      Category differences
                                                                                        ...
MEGATRENDS
AUTHENTICITY

                     TRANSPARENCY

                        DESIGN

                     COLLABORATION

FRONT...
10 STEPS FOR
SUCCESSFUL
CO-CREATION
1. Realise one thing
                       2. Define your strategy
                       3. Inspire participation
       ...
What is it?


       “Co-creation unlocks the
         collective creativity of
        people to create deeply
          ...
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...
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            ...
4 Types of Co-creation

                 Anyone
                 can join



Open-ness



                Selection   Club...
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
           ...
DBS crowdsourced youth-bank




               25       Link: The Financial Brand
Rabo Chatbetalen Campaign




               26
4 Types of Co-creation

                 Anyone
                 can join
                                                ...
Peerbackers community equity




               28
                           Link: Peerbackers
Flattr social micropayments




FRONTEER
STRATEGY
INNOVATION.
CO-CREATION.
                     29
BRAND DEVELOPMENT.
    ...
4 Types of Co-creation

        Anyone
        can join



Open-ness



       Selection                            Coalit...
Pin banking coalition




                 31
Corsini Due home-owner funded




FRONTEER
STRATEGY
INNOVATION.
CO-CREATION.
BRAND DEVELOPMENT.   32   Link: Corsini Due s...
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: Dailycrowdsourc...
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: Forrest...
But you have to look for your 1%

                                      1% Creators

                                     ...
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.  ...
ABN AMRO Seeds Crowdfunding




              54        Link: Seeds site
Open Innovation ROI


          BIGGER...

              BETTER...


                     FASTER...

                     ...
Innocentive

             Cost savings.
 Savings from faster research process.
Access to a diverse network of experts.
 Fo...
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 rewar...
Internal bloodgroups
                       Fans
                       Ambivalent
                       Opposers




   ...
63
DANK U
FRONTEER                           Martijn Pater
STRATEGY                           martijn@fronteerstrategy.com
I N N OVA...
ABOUT
FRONTEER
STRATEGY
Fronteer   Innovation.
           Co-creation.
Strategy   Brand Development.
           Change.

           Leading Co-cre...
We offer in co-creation
         ROOFTOP™               CAMPSITE
      Expert Co-creation    Community Co-creation




FRO...
Visit our website
Links   www.fronteerstrategy.com

        Updates from the Fronteer
        www.fronteerstrategy.com/blo...
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Fronteer strategy presentation efinancials co creation nov 2010

  1. 10 STEPS FOR SUCCESSFUL CO-CREATION IN FINANCE
  2. EFINANCIALS 2010
  3. Door: Martijn Pater Fronteer Strategy Amsterdam, 4 November 2010 FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT.
  4. TOUCHPOINTS
  5. 5
  6. 6
  7. “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
  8. EMPATHY
  9. Top-10 Empathic Brands 2010 Attractive Empathic 9 Source: Ruigrok Netpanel, Fronteer Strategy
  10. 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
  11. MEGATRENDS
  12. AUTHENTICITY TRANSPARENCY DESIGN COLLABORATION FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 12
  13. 10 STEPS FOR SUCCESSFUL CO-CREATION
  14. 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
  15. What is it? “Co-creation unlocks the collective creativity of people to create deeply relevant solutions.” 15 Source: Copenhagen Co-creation
  16. 1. Realise one thing FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 16
  17. Why? “No matter who you are, most of the smartest people work for someone else.” Bill Joy, Founder Sun Microsystems 17
  18. Unpredictable systems 18 Source: Banny Bannerjee, Stanford University
  19. 2. Define your strategy FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 19
  20. 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
  21. 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
  22. IHG/Chase priority club members Source: Communispace 22
  23. Centraal Beheer FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 23
  24. 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
  25. DBS crowdsourced youth-bank 25 Link: The Financial Brand
  26. Rabo Chatbetalen Campaign 26
  27. 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
  28. Peerbackers community equity 28 Link: Peerbackers
  29. Flattr social micropayments FRONTEER STRATEGY INNOVATION. CO-CREATION. 29 BRAND DEVELOPMENT. Link: Flattr
  30. 4 Types of Co-creation Anyone can join Open-ness Selection Coalition of process Parties Initiator Initiator + Contributors Ownership 30
  31. Pin banking coalition 31
  32. Corsini Due home-owner funded FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 32 Link: Corsini Due site
  33. 3. Inspire participation FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 33
  34. Worldbank software sourcing 34 Link: Worldbank site
  35. Obama crowdfunding 35
  36. South Valley Bank & Trust FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 36 Source: Dailycrowdsource.com
  37. 4. Select the very best FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 37
  38. Many people wanting to co-create FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 38 Source: Forrester
  39. 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
  40. Explorers FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 40
  41. Heroes FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 41
  42. Innovators FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 42
  43. Eyeopen expert club 43 Link: Eyeopen
  44. 5. Connect creative minds FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 44
  45. Fool’s Gold 45
  46. Innotribe collaboration platform 46 Source: Business Week
  47. DSB The Movie co-created 47
  48. 6. Share results FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 48
  49. ING Klantdialoog 49 Link: ING site
  50. Interpolis beoordelingen Link: Interpolis site 50
  51. 7. Continue development FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 51
  52. Centraal Beheer innovatieproces 52
  53. 8. Think return on investment FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 53
  54. ABN AMRO Seeds Crowdfunding 54 Link: Seeds site
  55. Open Innovation ROI BIGGER... BETTER... FASTER... STRONGER... Results 55
  56. 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
  57. 9. Get the IP right FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 57
  58. ‘The Amsterdam Model’ With: 58
  59. What will the future bring? How will value be distributed? Who owns what? 59
  60. 10. Mobilise internally FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 60
  61. 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
  62. Internal bloodgroups Fans Ambivalent Opposers Source: Anna Kirah 62
  63. 63
  64. DANK U
  65. 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.
  66. ABOUT FRONTEER STRATEGY
  67. 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
  68. We offer in co-creation ROOFTOP™ CAMPSITE Expert Co-creation Community Co-creation FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 68 Link: Fronteer Strategy
  69. 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

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