Fashion Go Social - Aarhus, April 30


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This is my talk on how the fashion industry can use social media in their innovation efforts.

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Fashion Go Social - Aarhus, April 30

  1. 1. 15inno by Stefan Lindegaard at LinkedIn Groups Twitter: @lindegaard Hey! Freebookson! Social media: A Game Changer for Innovation? - Fashion Go Social
  2. 2. Forget about marketing, brand building, customer loyalty and service. Think innovation. Ask yourself: How is social media relevant for our innovation efforts?
  3. 3. …tools, services and platforms that drive virtual interaction, involvement for innovation efforts Communities, idea platforms, Twitter and LinkedIn Go beyond customer service, marketing, B2C!
  4. 4. Identify and interact with innovation partners Generate more ideas, faster Get market and competitor insights Promote corporate innovation capabilities
  5. 5. Faster pace, shrinking window of opportunity, less time for cash cows Driven by global megatrends: faster, more open, more transparent and more connected We need a more holistic approach to innovation!
  6. 6. What is open innovation? “…a philosophy or a mindset that they should embrace within their organization. This mindset should enable their organization to work with external input to the innovation process just as naturally as it does with internal input” Open innovation as a term will disappear in 5-7 years!
  7. 7. What is crowdsourcing? “Crowdsourcing represents the act of a company or institution taking a function once performed by employees and outsourcing it to an undefined (and generally large) network of people in the form of an open call…” Howe ”Online, distributed problem-solving and production model.” Brabham
  8. 8. Change how we innovate Be competitively unpredictable Develop the right conditions and framework
  9. 9. Social media is key for crowdsourcing LEGO went out of comfort zone, partnered with another company Do you know your external touch-points? Do you use them properly?
  11. 11. Companies (open innovation / crowdsourcing): - Speed, diversity, new knowledge pools - Experimentation (don’t be left behind) - Marketing as well as innovation vehicle - More cost-effective than hiring consultants People (crowdsourcing): - Learning opportunities - Enjoyable process - Financial compensation Benefits:
  12. 12. Identify 10 keywords / terms and work with them on LinkedIn and Twitter. What happens?
  13. 13. No networking culture? No innovation culture! - future winners get communities to work!
  14. 14. Networking efforts (real world, virtual) require direction, training and time. Few executives get this.
  15. 15. “Måskeskæresdernedpåleverandørerne, fordideterkrisetid, men vi synes nu også, at tendensen minder om co-creation. At man indgårperspektivrigealliancerogskabernogetsam men, og vi kanhøre, at virksomhederneer glade for dissenæresamarbejdsrelationer.” TEKO Økosystemer, “Preferred partner of choice”, lokalt/globalt
  16. 16. “Forretningsmodellerneerendnusletikkeudviklede omkringsocialemedier. Dererkæmpemuligheder her. Vi har her ihuset kun selvlærtemedarbejdereindenforområdet. Deter en storudfordring, for hvilkemedierskal vi beherske? Hvadvirker, oghvadvirkerikke?” Michael Ring, adm. direktørStelton A/S Hvordankan man lære? What’s in it for me?
  17. 17. “Designernesarbejdsfeltudvides, ogdeter mere afgørende end nogensinde, at de forstårforretningen.” TEKO
  18. 18.
  19. 19. “Designernesarbejdsfeltudvides, ogdeter mere afgørende end nogensinde, at de forstårforretningen.” TEKO Design + Business model innovation + Åben innovation + Social media
  20. 20. Direktørernevedgodt, at de socialemedierersalgskanaler med potentiale, men de erivildrede, for hvordanskaber man værdi her? Genererer likes ogbloggere nu også en omsætning, ogkandetbetale sig at inviterebloggeretilproduktlanceringer? Innovation hos Shell – inspiration?
  21. 21. SWOT on OI – know your motivation, mandate and strategic purposes Map social media competence / opportunities Experimentation + Documentation = Change (reward behaviors, not just outcomes) Get corporate guidelines in place
  22. 22. Innovation (R&D, product & process development) In which ways has your organization benefited from the use of social media? (external focus) Benefit today No benefit today, BUT future expectations No benefit today, AND no future expectations Do not know Increased feedback and inspiration to product- and process development with customers and external partners Improved market insights, trends, technology development, competitor initiatives etc. The open innovation process has a positive impact on the market – before marketing and sales Improved access to cooperation with external innovation partners Faster development cycles related to the development of new products and processes
  23. 23. A CFO is wary about investing in the training and education of the employees. He asks the CEO: ”What happens if we invest in developing our people and then they leave the company?” The CEO is a bright person and replies: ”What happens if we don’t and they stay?”
  24. 24. Do youwant to know more aboutopen innovation? Joinmy Innovation MasterClass – get in touch! 15inno by Stefan Lindegaard at LinkedIn Groups Twitter: @lindegaard Hey! Freebookson!