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