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Be a better business with a better output. Be an Open Business

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Guest lecture at the Hogeschool van Amsterdam, University of Applied Sciences for Business Administration students, course Business Development.

Inspiration session on Open Business.

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Be a better business with a better output. Be an Open Business

  1. 1. Hogeschool van AmsterdamOpen Business DevelopmentInspiration session:“Be a better business with a better output.Be an Open Business”
  2. 2. Introduction: Who am I? Gianluigi Cuccureddu SMP Managing Director 90:10 Group -Netherlands We use methods of co-creation to deliver insight, innovation and action for organisations. We make your products, services and communications a better fit for the intended consumer – helping to build a better business.
  3. 3. Our story We are dedicated to understanding social media ROI We thought there has to be more to social media than just fans, followers and Word-of-Mouth campaigns. A greater ROI than shares, Likes and blogger coverage. So we put together a team of people from across disciplines and geographies to figure it out.We have the largest team of social media experts working across EMEA with the greatest diversity of backgrounds including; Research, SEOMarketing, Media, Advertising, Innovation, Change Management, CRM.
  4. 4. Open Business Our vision• We think of social media as a door to the outside world – not a simple channel to deliver through.• It’s a door to; listen, ask, connect and create with people outside the org - partners, customers and experts.• It’s a door to competitive advantage in marketing, service and product innovation.• It is like hosting an Open Day every day.• Open Days deepen brand affinity, build relationships, loyalty and understanding, ask questions and give answers, discover new habits, trends and needs. Now every day is an Open Day.• Be a better business with a better output. Be an Open Business.
  5. 5. Open Business Development Inspiration & opportunities"Because the purpose of business is to create a customer, thebusiness enterprise has two--and only two--basic functions:marketing and innovation.Marketing and innovation produce results; all the rest arecosts. Marketing is the distinguishing, unique function of thebusiness."
  6. 6. Open Business Development Inspiration & opportunities"Because the purpose of business is to create a customer, thebusiness enterprise has two--and only two--basic functions:marketing and innovation.Marketing and innovation produce results; all the rest arecosts. Marketing is the distinguishing, unique function of thebusiness."
  7. 7. Open Business DevelopmentInspiration & opportunities According to the MIT Centre for Digital Business, in order to cost-effectively solve broad business problem and co-create e.g. a new product choice, a marketing campaign or a new service experience, enterprises need to start taking advantage of the "wisdom of the crowds" available through social media data, or risk missing out on huge opportunities to boost business.
  8. 8. Open Business DevelopmentInspiration & opportunities According to the MIT Centre for Digital Business, in order to cost-effectively solve broad business problem and co-create e.g. a new product choice, a marketing campaign or a new service experience, enterprises need to start taking advantage of the "wisdom of the crowds" available through social media data, or risk missing out on huge opportunities to boost business.
  9. 9. Open Business DevelopmentInspiration & opportunities According to McKinsey, digitization is creating a second economy that’s vast, automatic, and invisible—thereby bringing the biggest change since the Industrial Revolution. The second economy that is silently forming- vast, interconnected, and extraordinarily productive- is creating for us a new economic world. How we will fare in this world, how we will adapt to it, how we will profit from it and share its benefits, is very much op to us.
  10. 10. Open Business DevelopmentInspiration & opportunities According to McKinsey, digitization is creating a second economy that’s vast, automatic, and invisible—thereby bringing the biggest change since the Industrial Revolution. The second economy that is silently forming- vast, interconnected, and extraordinarily productive- is creating for us a new economic world. How we will fare in this world, how we will adapt to it, how we will profit from it and share its benefits, is very much op to us.
  11. 11. Open Business DevelopmentInspiration & opportunities
  12. 12. Open Business DevelopmentInspiration & opportunities Kotler’s Marketing 3.0 Open Business
  13. 13. Open Business DevelopmentFramework Reconfigure to take best advantage of the social web - its ability to put the customer at the heart of everything you do. Adaptation Change Insights Research Engagement Stewardship Co- Innovation Co-creation
  14. 14. Open Business Development Framework Co- Change Engagement Research Innovation Gain insights from Use Social Media to Social Media is theChange how org Social Media either in a engage with external opportunity to co-operates to adapt to monitoring or research stakeholders create innovations withSocial Media capability (Comms, (Marketing or PR) external stakeholders Research or Innovation)
  15. 15. Open Business DevelopmentInterconnectness
  16. 16. Open Business DevelopmentEngagement Engagement
  17. 17. Open Business DevelopmentEngagement Engagement revolution http://www.youtube.com/watch?v=sIFYPQj Yhv8&feature=player_embedded#!
  18. 18. Open Business DevelopmentEngagement Kotler’s Marketing 3.0
  19. 19. Open Business DevelopmentEngagement
  20. 20. Open Business DevelopmentEngagement Joe Pine: Just being a part of something is part of human nature, we want to belong. Organizations need to provide a platform for people to belong. Social media are very good at this. Social media = enablers Open Business = platform
  21. 21. Open Business DevelopmentEngagement Kotler’s Marketing 3.0
  22. 22. Open Business DevelopmentEngagement
  23. 23. Open Business DevelopmentEngagementPine and Gilmore argue that businesses must orchestratememorable events for their customers, and that memory itselfbecomes the product - the "experience".Consistent brand experience is biggest marketing challengeForbes: Challenge for chief and senior executives is to create aconsistent experience across all the touch points.
  24. 24. Open Business DevelopmentEngagementTwo major shifts internally (McKinsey) :• Marketing is the customer engagement engine for the other departments• shift to a more data and science-based marketing
  25. 25. Open Business DevelopmentEngagement The customer did not change, the tools only expanded Engagement Data
  26. 26. Open Business DevelopmentEngagement People want to participate, want to engage, attention and spend increase
  27. 27. Open Business DevelopmentResearch Research
  28. 28. Open Business DevelopmentResearch The World Wide Well (Of Information)
  29. 29. Open Business DevelopmentResearch McKinsey on insights and marketing: “ Marketing is going to become a much more science-driven activity. Generating rich customer insights, always central to effective marketing efforts, is more challenging and important in today’s environment. Companies must listen constantly to consumers across all touch points, analyze and deduce patterns from their behavior, and respond quickly to signs of changing needs. “
  30. 30. Open Business DevelopmentResearch Forbes on the challenge unified data overview: “ While nearly two thirds of respondents said they segment and target customers based on an integrated view of customer behavior, that view is not necessarily complete. Just 30% have a view of mobile behavior, and just 34% look at social media behavior. “
  31. 31. Open Business DevelopmentResearch Evolution of Market Research
  32. 32. Open Business Development ResearchForrester Research (2008):“Market research online communities (MROCs) will shock the qualitative market researchworld. They provideCheaper, faster and newer types of insights that today’s traditional qualitativemodes, such as focus groups, don’t currently provide.“
  33. 33. Open Business Development Research Netnography is the branch of ethnography that analyses the free behaviour ofindividuals on the Internet that uses online marketing research techniques to provide useful insights.
  34. 34. Open Business DevelopmentResearch Social Media Monitoring
  35. 35. Open Business Development ResearchSocial Media Intelligence Not Utilized to the Fullest: Competitive Advantages Diminishes:Just 24% of the interviewed found the Social Media monitoring tools they used were “Very Valuable”. Translation data into actions
  36. 36. Open Business DevelopmentResearchChallenge and disruption of conventional market researchers:The discussion about data privacy and guidelines for social media research (mainlylistening) is peaking.ESOMAR, CASRO, MRS and other Market research associations have published theirguidelines recently.A rising number of market research authorities reject and question these guidelines.Main points of discussion are on two basic principles of traditional market research1) anonymity2) informed consent
  37. 37. Open Business DevelopmentCo-Innovation Co-Innovation
  38. 38. Open Business DevelopmentCo-InnovationOpen Innovation Co-creation Crowdsourcing Cooperate versus Collaborate
  39. 39. Open Business DevelopmentCo-Innovation In collaborative innovation its not only What one knows, but equally or more importantly Who is in the network. Identifying the right external people (Who) to bring in and understanding the innovation process and outputs (the How and Whats).
  40. 40. Open Business Development Co-InnovationHarvard Business Review: Open Innovation Achieves Smarter New Product DevelopmentThe survey found:* Customer suggestions are the most important source of new product ideas.* New product development is a team sport. More than half of the companies saidmarketing, operations, sales, and finance work with the R&D department.* Fifty-five percent said partners are an important source of ideas and innovationsupport.
  41. 41. Open Business DevelopmentCo-InnovationStrategy+Business: The Continuing Payoff from Open InnovationThe research found:* External links have been shown to stimulate creativity, provide a useful way to searchfor new technologies, reduce risk, and improve the quality of the innovation.* The most common partners were customers and suppliers.* The researchers measured innovation output by examining the proportion of the firms’total sales that came from products introduced or improved during the previous threeyears.
  42. 42. Open Business DevelopmentCo-Innovation Why collaborative innovation
  43. 43. Open Business DevelopmentCo-Innovation Why collaborative innovation?You can’t solve problems with the same thinking that created them
  44. 44. Open Business Development Co-Innovation Why collaborative innovation?Discovering unmet needs and introducing more innovative ideas
  45. 45. Open Business DevelopmentCo-Innovation Why collaborative innovation?There are a lot of smart people out there, but most of them dont work for you
  46. 46. Open Business DevelopmentCo-Innovation Why collaborative innovation?Driving growth by keep looking at unmet needs and transform them in viable business
  47. 47. Open Business Development Co-Innovation Why collaborative innovation?Enabling businesses to be faster, smarter, more agile than the competition
  48. 48. Open Business DevelopmentCo-Innovation Why collaborative innovation? Reducing costs
  49. 49. Open Business DevelopmentCo-Innovation Why collaborative innovation? Reducing time to market
  50. 50. Open Business DevelopmentCo-Innovation Why collaborative innovation? Increasing the output
  51. 51. Open Business DevelopmentCo-Innovation Philips example
  52. 52. Open Business DevelopmentCo-Innovation Organization are / transform into Platform Businesses for Value co-creation
  53. 53. Open Business DevelopmentCo-Innovation Kotler’s three levels of product
  54. 54. Open Business DevelopmentCo-Innovation Product Development Core: Value co-creation identify and co-create (unmet) needs Actual: Product development process identify and co-create wants Augmented: Experience, customization, open business models Customer-centric approach The more to the core, the more the organizational implications and transformation needed
  55. 55. Open Business DevelopmentChange Change
  56. 56. Open Business DevelopmentChange BUSINESS MODEL VALUE PROPOSITION Target markets Products/services Revenue model OPERATIONAL MODEL Value chain Cost model Organization CORE COMPETENCES
  57. 57. Open Business Development Change How can costs be minimized? What is the portfolio? How are competitive advantages impacted by reduction of information asymmetry?What customers needs? How is value chain affected? How can core- competences be enriched?How is organization goingto take advantage of What are the revenueSocial Media? models?
  58. 58. Open Business DevelopmentChange Adaptation and transformation
  59. 59. Open Business Development Change But do the right things in the right wayInsight-based strategic approach at the heart of Social Media success
  60. 60. Open Business DevelopmentChange
  61. 61. Open Business Development ChangeOpen Business Enables Business Agility & Continual Innovation Through Social Media Business agility: Business’ capability to adapt rapidly and cost-efficient to that landscape and its target audiences.Continual innovation:Bit by bit tweaking improvements in existing products, chipsaway at costs and debugs processes — in every corner of thecompany, all non-stop.
  62. 62. Open Business DevelopmentBe a better business with a better output. Be an Open Business
  63. 63. Open Business DevelopmentBe a better business with a better output. Be an Open Business
  64. 64. ContactGianluigi Cuccureddu SMPManaging Director 90:10 Group NetherlandsMobile / direct +31 (0)6 41 36 26 12gianluigi@ninety10group.comMy thinking & opinions:Business Insider articlesInnovationManagement articlesAppMarket.tv articlesMarketingfacts articles90:10 Blog articlesAgora Media Innovation articles

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