Marketing and Innovation - Linda Sharp


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Linda Sharp explores a highly analytical approach to how marketing and innovation can successfully intersect.

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Marketing and Innovation - Linda Sharp

  1. 1. Submit/Vote Innovation Ideation: BIG Data Dilemma. What’s NEXT? Winter 2013 An Innovation Community Initiative To Compete on Relationships Informed by The Religence Framework for CRI Customer Relationship Intelligence Community Relationship Intelligence©2013 Religence®, Registered USPTO, Patent Number US 7,526,434
  2. 2. Dilemma: Idea OVERLOAD.Popular ideas likely incremental. Breakthrough ideas missed. Engagement record lost. Business value not captured. 2
  3. 3. Relationship Age Opportunities Measure what matters for business results. Operationalize Social Business. Make sense of the data -- Make the data come alive! Get closer to customers. Innovate.CRI can help YOU lead this BIG change. 3
  4. 4. A Community Approach to Win in the Social Media Wild, Wild WestDraws Relevant People into the Enterprise’s Communities, the Enterprise’s Technology e-CRI CRI Segments YouTube Twitter Social CRI Facebook LinkedIn Communities Pinterest Google+ Social Media Wild, Wild West Rules
  5. 5. A Deliberate, Systematic PROCESS To Map, Measure, and Manage a Community’s Critical Interaction Processes Interaction Sponsor(s)/ Sponsor(s)/ Leaders Leaders Process Interactions Interactions Flow Known Unknown Member Competitive Profit Interactions Advantage At Risk Known Member Retention Sponsor(s) Interactions At Risk At Risk UnknownDeveloping a relationship is a joint collaborative process between the communitymember and the community sponsor(s) and leaders that moves a relationship forward orbackward. Measuring and managing the Interaction Process Flow optimizes value.
  6. 6. Unifying CRI FRAMEWORK: Shift Focus and Funding to Retention and a Stakeholder Community. 7X as much is spent on acquiring customers as is on retaining them.Align Marketing/ Sales/ Customer Service and Communities with a commonrelationship development process. Relationships drive business. 6
  7. 7. Operational CRI It’s What’s Next! Collaboration Maturity Model User Groups Collaboration Social Layer SIGs Business Intranets Processes Enterprise Extranets Platforms • Operational CRI Portals Online • Other Wikis Communities Cross-Functional Blogs Methods & Tools© 2012 Religence®, Reg. US PTO, Pat.# US 7,526,434
  8. 8. Social Business Shifts the Focus from: Company & Product to Customers RISK to ADVANTAGE Backward Looking Forward Looking Innovation to Meet Customer’s Real-Time Expectations Measure with our Patented Relationship Development Process for Real-Time Operational CRI: • Manage looking forward with Relationship Value, a leading indicator for profit. • Decide based on Variable Interaction Costs tied to individual customers instead of allocation or headcount. • Rely on what individual people actually DO (Interactions) not on aggregated trends (what people SAY they’ll do). 8
  9. 9. Other Relationship METRICS• Interaction Data measures buzz and momentum in a Community.• Interactions in a Community are among members, some of whom are leaders. Any orall of the leaders or members could be from the sponsor or sponsors.• Other metrics include conversion rates, retention rates, referral rates, variable cost-per-contact, Customer Lifetime Value, and step duration. Specific to Social CRI andCommunities are % participation and people and information flow—in and out. Critical Interaction Process Metrics: Social CRI Segment CRI Data Box Data Box Expectation Community Standard Industry Standard Brand Value Brand Value Elements of Product Value Product Value Value Experience Value Experience Value Actions & Member Action Customer Action Interactions Sponsor Action Seller Action Process Step Duration Step Duration Efficiency & % Participation Yield % Effectiveness Member Cost $ Customer Cost $ Sponsor Cost $ Seller Cost $
  10. 10. Breakthrough Measures Effect in Relationship Cause-and-Effect. Relationship Numeric Proxy for Interactions. Value Metric Elegant. • KPI for Relationship Development RV The • Leading Indicator Missing for Profit and Satisfaction Metric© 2012 Religence®, Reg. US PTO, Pat.# US 7,526,434
  11. 11. Real-Time Operational Control for Frontline Staff and Managers:Results Based on Real-Time Operational Data:• What is happening right now with individual customers? At what cost? For what effect?• How does the customer experience Real-Time compare to previous successful patterns? Dynamic Patterns• What is best to do next to develop the customer relationship?• What is the most profitable action to take? Real-Time Decisions• How well is this strategy working in real time? 11
  12. 12. Strategic Operational Control for Executives:Results Based on Real-Time Operational Data Tied to IndividualContacts and Real-Time Profit:• Where are you making more money?• Are you growing high-value customers?• Are Communities making a difference?• How well are you driving profit and satisfaction?• How can you achieve sustainable competitive advantage? Real-Time Dynamic• How can you repeat Patterns Real-Time success? Decisions $• Where should you focus next? Real-Time Profit Results 12
  13. 13. ™RV-Q: Strategic, operational guidance for executives whileA Quick Way to back-testing to validate RV as aCompete on leading indicator.Relationships • KPI for Relationship Development RV How well does what people DO, quantified by RV-Q, • Leading Indicator correlate to for Profit and what people SAY… Satisfaction for Innovation, for Satisfaction?© 2012 Religence®, Reg. US PTO, Pat.# US 7,526,434
  14. 14. ™ RV-Q Pilots: Is RV a Leading Indicator?Is Your Next New Thing, the Right New Thing?Step One: Gather product and process innovation ideas from top prioritycustomers using Enterprise Feedback Management Tools. Identify lead users aswell as other internal and external key players.Step Two: Develop pro forma high-level Customer Relationship Process modelof ~ 100 major Interactions and some 30 associated Voice of the CustomerInteractions. Determine what data is available to support it.Step Three: Identify critical process gaps. Map the customer experience tounderstand Customer Value. Innovate incremental and breakthrough change.Step Four: Populate the pro forma model’s major Interactions with RelationshipValue and Variable Interaction Costs. Correlate to actual historical InteractionRecord of customers. Demonstrate the efficacy of RV as a leading indicator.Step Five: Track RV-Q and what people DO going forward with a Social CRI CRI (Customer Relationship Intelligence) Tracking System. Facilitate a new,breakthrough Innovation Community with lead users/ key players at its core.Open new relationships with existing customers. Open new customer segments. 14
  15. 15. Critical Community Building Processes/InitiativesStart-Up Processes—Purpose, Leadership, Infrastructure, ControlsSustaining Processes—Development, Measurement, ManagementInitiatives--Once the value aspects for a community to BE are in place,here’s what a community can DO: Community Support Initiatives • Leader Processes • Member Processes Community Evangelizing Initiatives • Leader Processes • Member Processes Community Collaboration Initiatives (See example.) • Leader Processes • Member Processes
  16. 16. Community Collaboration Initiative In this example the purpose is to innovate/ collaborate on new approaches.Leader Processes Member ProcessesConfirm initiative purpose Accept invitation to join initiativeID core leadership team Self-nominate onto initiativeRecruit core leadership team CollaborateAnnounce initiative to community Make additional commentsAccept self-nominated members Accept recognitionHold kick-off meeting Invite others to join communityCollaborate (8 steps)Ask for comment on solution CollaboratePublish final document 1. Ask for ideas 2. Make sure SMEs participatePublicize solution 3. Receive/digest ideas; iterateRecognize/reward participants 4. Ask for more input 5. Survey communityInvite members to invite others 6. Report back; ask new questions into community 7. Repeat as needed 8. Document solution
  17. 17. Community Collaboration Initiative Color Code Member Leader ProcessLeader and Member Processes Process Process OverlapCritical Interaction Process Example Confirm ID Core Recruit Core Accept Initiative Leadership Leadership Invitation to Purpose Team Team Join Initiative Announce Self-Nominate Accept Self- Hold Initiative to onto the Nominated Kick-off Community Initiative Members Meeting Ask for Make Publish Collaborate Comment on Additional Final Solution Comments Document Recognize Invite Others Publicize Accept & Reward to Join the Solution Recognition Participants Community
  18. 18. Executive Briefings and Workshops1. Start CRI with Retention: The MONEY Is in Retention2. Social CRI: A Community Approach to Win in the Social Media Wild, Wild West3. Stakeholder Communities: A New Source of POWER and Innovation4. Measure Social Business with CRI: for Real-Time Management/ Operational Control/ Profit5. Measure Strategy Execution with CRI: to Compete on Relationships6. Measure Value Creation with CRI: for Long-Term Success7. Measure Innovation Community with CRI: to Tie to Business Results8. Measure Performance Innovation with CRI: for Repeatable Success9. Measure Collaboration with CRI: Operational CRI Is What’s Next10. Anticipate What Customers Experience: with Value Creation Maps11. The Missing Metric: Relationship Value Breakthrough12. CRI: Customer Fundamentals to Thrive Anytime
  19. 19. Why Religence?1. We know how to measure Social Business for value creation-- how to make sense of the chaotic crush of relationship Interaction data …how to harvest relationship gold, to tie it to business results.2. Seminal, foundational CRI Patent for the Relationship Age.3. CRI Framework for Real-Time Operational CRI.4. Seasoned, innovative team to collaborate with you.5. Thought leadership—CRI Book, global recognition with top ranking in McKinsey-HBR Management Innovation Challenge . Let’s Do It… Contact our CEO directly: Linda Sharp (415) 771-7473 2090 Green Street * San Francisco CA 94123 ©2013 Religence®, Registered USPTO, Patent Number US 7,526,434
  20. 20. Unifying CRI Analytical Tools Mashup Real-Time FRAMEWORK forCRI Data with Enterprise Financial Data OperationalRelationship Relationship Value KPI METRICS PATTERNS Control and Profit Operational Social CRI CRI Tracking System over Customer Lifecycle PROCESS Collaboration PROCESS Collaboration Operational Workflow: Operational Workflow: Customer Experience Marketing CRM Online Communities Management (CEM) Social Automation Customer Media Relationship (Acquisition Management PLUS Retention) (Closing) (Formerly Sales Force Automation) Enterprise Applications ©2009 Religence®, Registered USPTO, Patent Number US 7,526,434
  21. 21. Dachis GroupYet businesses are still fairly immature with digital M aturingCompetent W ebinars online video big data gamification direct mail P2P video cloud social media mobile apps Immature (cc) 2012 Dachis Group. Creative Commons. Some Rights Reserved.