Non-professionals create products North West: North East: Mass- The Eye of the customization Perfect StormPhysical Digitaleconomy Economy South West: South East: Traditional Digital Professional economy services Only professionals create products
• Purchase of flight tickets, hotel bookings etc.= • Customization of trip • Find the cheapest trip • Trip advice
Non-professionals create products Customization of Trip advice tripPhysical Digitaleconomy Economy Purchase of flight Price comparison tickets, hotel (Find the cheapest bookings etc. trip) Only professionals create products
The perfect storm as aconveyor belt of innovation ideas
Non-professionals create products • Is there a potential for user • Is there a potential for user creation? creation? • Can you create the • Is there sufficient motivation production and supply chain to sustain long term user flexibility which is required creation? for mass customization?Physical Digitaleconomy Economy • Is the business becoming digital? Traditional business • Are there relevant devices? area • Are people comfortable with going digital? • Is the market free or monopolized? Only professionals create products
5 Types of Involvement1. Involvement around rating, comments and improvement of products.2. Involvement around service3. Involvement around usage of products4. Involvement around product conversations5. Involvement around the creation of the products
Core Business -> Strategy • Question: In which of the four qaudrants is you business located? • Who are the players in this quardrant? • Traditional players: What are their weaknesses? • New Players: What can we learn from them? What are their weaknesses? Which areas are they not covering? • Develop your unique business strategy for the perfect storm: How to create a flexible How to involve users and reach the production and suply chain? critical tipping point where you become the go-to place? How to build a viable business in a digital economy where marginal costs are almost zero?
Core Business -> ConceptsConcepts – check list:1. Digitize the company’s products/services2. Digitize parts of the company’s products3. Create new digital products4. Create digital products that support or improve the use of the company’s physical products.5. Create linkages between the physical and digital products (QR codes, URLs, etc.).6. Make it easy for users to copy (steal) the company’s products.7. Make your products/services/content free and make your money elsewhere8. Make parts of your product free, or create new digital free products.9. Become an aggregator. Forget the pride of creating your own products/services/content. Become the portal of your area10.Become a specialist. Its easier to create a business around a very specialized product11.Give users the ability to customize your products/services/content12.Give users the opportunity to comment on your products/services/content13.Give users the ability to evaluate your products/services/content14.Give users the ability to recommend your products/services/content15.Give users the opportunity to share with their network when they use your products/services/content16.Give users the ability to improve your products/services/content17.Give users the ability to create your products/services/content18.Create a community around your products/services/content19.Create ambassadors and use them to improve your products/services/content20.Blur the boundary between customers and employees. Create close links to customers who “work” for the company, but who are not paid21.Deportalize the company’s strategy. Does your company have interesting content? Make sure that this content not only lives on the website, but also at the networks where your customers/followers actually spend their online lives. (Facebook, Twitter, etc.)
Communication -> Analysis Deportalization: • Do people talk about the product/company or your subject area in the social media? • Are your competitors already present in this universe? • Understand how to become interesting! • Understand the relevant platforms! • Learn to speak the right language!
Communication -> Strategy How much do you expect to be able to involve your customers/followers? Based on this decide on the most relevant communication strategy Often companies will use several of these strategies at the same time.
Communication -> ConceptsConcepts – check list:1. Use your existing customers/followers to spread your message2. Deportalize your communication. Make sure that you are present in the social media. But remember: Be interesting, choose the right platforms and speak the right language!3. Create digital high involvement products and services that support the conversation about the company’s existing products and services4. Give the company’s product (or parts of it) away for free. There is no better marketing than free!5. Create a community around your product and services6. Give people access to review the companys products. People love to be "reviewers".7. Give people access to improve your products and services.8. Give people access to talk about your products and services when they use them. Create linkages between physical products/events and the digital world (QR codes, photo / video from mobile devices, etc.).9. Be transparent in so many parts of the company as possible. Your customers would rather engage with employees in a transparent company than with an anonymous marketing department.10.Tell the world about how you work. Give people the opportunity to comment and make suggestions for improvements to the process.11.Reward customers who involve themselves in the company or your products/services. Not necessarily with money.12.Share valuable knowledge! Find information, functionality or services that your company has so far kept secret and share it with the world.13.Aggregate valuable knowledge! Become an information hub for the companys products and services.14.Participate in the current conversation in the social media. Make sure its real people with real voices participating – not marketing people.15.Create ambassadors, and use them to publicize the company and its services.16.Create campaigns that people want to get involved in, but remember that the campaign also should support your core business17.Make it easy for people to talk about your products and services. Send them emails or ask them in other ways to talk about you in the social media.18.Mobilize the companys hard-core fans, and get them to be active in the social media.19.Involve people when they are most happy about your products or services.20.Start many small initiatives at the same time. Start 10 blogs instead of one. Use 20 Twitter hash tags instead of one. And evaluate what works!21.Find problems, shortcomings or challenges in the company, which customers/followers can help improve.22.Create a social media task force that is constantly ready to participate in conversations about the company and its services when they arise (or start the conversation when the right opportunity presents itself).
Now it is your turn!Develop a strategy presentation for your business canvas whichcovers these six areas. The presentation should adress all six areas.More inspiration and PPT templates on:www.denperfektestorm.dk/strategimodellen(in Danish) Core business Analysis Strategy Concepts Communication Analysis Strategy Concepts