Econsultancy Future Trends Briefing

Future Trends
Innovation Briefing
February 2011
http://www.flickr.com/photos/mojodenbowsphotostudio/

Please note: Sample presentation only, please download the full presentation from:
http://econsultancy.com/reports/future-trends-innovation-briefing

neilperkin.typepad.com
@neilperkin

What I’m going to talk to you about today
New and interesting digital models, ideas
New processes, techniques and ways of working
Ideas that are not new, but which are being applied in new ways
…and are informed by a close understanding of consumer needs

Opportunity often sits at the confluence of two or more trends
Social
Data
Gaming
Mobile
Content
Utility
Agile working
http://www.flickr.com/photos/8340753@N04/501465437/

WHAT IS INNOVATION?
http://www.flickr.com/photos/fabiano/

…originating ideas
INVENTION
INNOVATION
DIFFUSION
…commercialisation of ideas
…spread, adoption, imitation
http://www.noahbrier.com/archives/2010/04/thinking_about_innovation.php

2011 will be about putting all the thinking into action
“2011 will be somewhat less about talk and more about action. We should know by now what we need to be doing, the challenge is about execution. And that’s about good old fashioned things like people, process and technology.” Ashley Friedlein
http://www.oneeyeland.com/member/member_home.php?pgrid=3&imgid=270

2011 will be about true innovation: the commercialisation of principles or ideas
'arranging the economic requirements for implementing an invention’
http://www.noahbrier.com/archives/2010/04/thinking_about_innovation.php
http://www.flickr.com/photos/thomashawk/

But focus on ‘doing’ doesn’t mean we shouldn’t pause to reflect…
“The steeper the curve of change, the more we need a little time to digest; work out what's a fad versus what's really interesting.” Mel Exon, BBH Labs
http://www.flickr.com/photos/publicdesigncenter/
http://bbh-labs.com/think-while-you-make-make-while-you-think

But there is an inherent recognition of the importance of innovation
Organisations not only felt bombarded by change, but that many are struggling to keep up.
8 out of 10 CEOs saw significant change ahead, and yet the gap between the expected level of change and the ability to manage it had almost tripled since the previous study in 2006
http://www-935.ibm.com/services/uk/gbs/html/ceostudy2008.html

It will be increasingly important for businesses to focus on ways to unlock innovation
http://www.flickr.com/photos/62586822@N00/3852562268/

INNOVATION IN THE SOCIAL WEB
We will get past the endless babble about social media platforms, and more companies will begin embedding it into practices, strategies and workflows

Engagement with ‘social’ will increasingly be more than just comms…
Gartner predicts that by 2016, social technologies will be integrated with most business applications bringing social CRM, internal communications and collaboration, and public social site initiatives into a coordinated strategy.
http://mashable.com/2010/12/08/dell-social-listening-center/
http://www.gartner.com/it/page.jsp?id=1454221

Porous Enterprise - Chance favours the connected mind
The Eureka Myth – the myth of the lone-creative genius with a spark of sudden inspiration
Ideas take a long time to mature, sometimes laying dormant (in the form of 'partial hunches' or half-ideas) for years.
It is the collision of these half-ideas, whether our own or from others, that enables breakthroughs to happen. Rather than being a single thing, ideas are networks, or new configurations.

Porous Enterprise - Chance favours the connected mind
The great driver of innovation has been the historic increase in connectivity between us that creates infinite possibilities for ideas to be swapped
Agile enterprises that understand this create and enable spaces (physical and virtual) where ideas can mingle (in the way that coffee houses did in The Enlightenment)

Enterprises will become increasingly ‘porous’
Employees who increasingly recognise the value of being connected to the interesting ideas in their own and related markets
Employers who encourage their employees to connect
http://thisisindexed.com/

Porous Enterprise
Connected employees bring new thinking into the organisation
Allows for innovation at the edges – non-core thinking
Relationships seen as valuable assets
Flow of ideas into and within organisations
Companies less reliant on ‘stocks’ of knowledge, and more connected to ‘flows’ of knowledge

The Networked Enterprise
A new class of company is emerging—one that uses collaborative Web 2.0 technologies intensively to connect the internal efforts of employees and to extend the organization’s reach to customers, partners, and suppliers
“…fully networked enterprises are not only more likely to be market leaders or to be gaining market share but also use management practices that lead to margins higher than those of companies using the Web in more limited ways.”
https://www.mckinseyquarterly.com/Organization/Strategic_Organization/The_rise_of_the_networked_enterprise_Web_20_finds_its_payday_2716

But content on the social web will continue to become ever more important…

campaignsite(s)
corporatewebsite
Spend will grow in earned and owned media initiatives faster than bought media
radio
mags
newspapers
online ads
outdoor
television
THE NEW CONTENT ECOSYSTEM
EARNED MEDIA
First-person commentary and content about the brand posted and shared across a variety of venues
“Social Media” outlets also support both Bought Media (e.g., ad banners, sem/ppc, etc.) and Owned Media (e.g., widgets, apps, etc.)
productsite(s)
‘advertising’
OWNED MEDIA
natural
search
campaigns
All media directly owned by the brand. These destinations provide a platform to drive marketing messages and tools to create Earned Media
affiliates
video sharing
social networks
blogs
forums
personal pages
BOUGHT MEDIA
socialmedia
community
Typical corporate media spend Drives people to Owned Media
email
Brands taking an ever more significant, diverse and assured role as content producers

The web is inherently social
Building platforms for longer-term, sustainable relationships with customers
Morgan Stanley Internet Trends Report 2010

“Communities already exist. Instead, think about how you can help that community do what it wants to do”
Mark Zuckerberg

The spreadability of ideas and content
If the web is a mass of conversations, then get talked about
Make it as easy as possible for your fans to find it and spread the word
http://www.flickr.com/photos/oldflints/

Developing strategies to turn followers into advocates
Marketing spend generates traffic
Some of that traffic sticks
Users are inspired and enabled to talk about your product
They spread the message around the network
Ref: http://sethgodin.typepad.com/seths_blog/files/flippingfunnelPRO.pdf

Please note: Sample presentation only, please download the full presentation from:
http://econsultancy.com/reports/future-trends-innovation-briefing

|13 January 2008
|Course Title
|27
Econsultancy
Econsultancy is a global independent community-based publisher, focused on best practice digital marketing and ecommerce. Our hub has 95,000+ members worldwide from clients, agencies and suppliers alike with over 90% member retention rate. We help our members build their internal capabilities via a combination of research reports and how-to guides, training and development, face-to-face conferences, forums and professional networking.
For the last 10 years, our resources have helped members learn, make better decisions, build business cases, find the best suppliers, accelerate their careers and lead the way in best practices and innovation.
Join Econsultancy today at http://econsultancy.com.
All rights reserved. No part of this presentation may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system, without prior permission in writing from the publisher. Copyright © Econsulancy.com Ltd 2011.

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Econsultancy Future Trends Briefing

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