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Digital Du Nord: How Minnesota Leads Digital Innovation

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Minnesota is home to 17 Fortune 500 companies, 570 digital startups and has raised more than $1 billion in venture capital funding the past two years. In other words, we’ve Minnesota-niced our way to becoming the digital innovation leader in the Midwest.

I gave this presentation at the University of St. Thomas' Opus School of Business' Master's Pub on March 31st, 2017. It highlights the many instances of digital innovation happening in the Twin Cities and how digital innovation is critical to business growth and brand building. It also outlines what I think you can do to make innovation happen faster.

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Digital Du Nord: How Minnesota Leads Digital Innovation

  1. 1. MASTER’S PUB Digital du Nord: How Minnesota Leads Digital Innovation
  2. 2. @CRAIGPLADSON Strategist & Educator Digital River Colle+ McVoy General Mills GoKart Labs Gustavus B.A. ‘00 UST M.B.A. ‘10 U of M Adjunct ’16 -‘17
  3. 3. WE STARTED INVENTING SUPER COMPUTERS IN THE 1950’S
  4. 4. “THE EXPLORERS OF YESTERDAY CAN GUIDE US INTO THE FUTURE.”
  5. 5. We’re home to 17 Fortune 500 companies.
  6. 6. We’ve raised $1B in venture capital funding the past two years. Sources: Minnesota Department of Employment and Economic Development, Star Tribune
  7. 7. Sources: Kauffman Foundation, U.S. Bureau of Labor Statistics, TechCrunch Our 5-year survival rate of new businesses is 50%.
  8. 8. Sources: Kauffman Foundation, U.S. Bureau of Labor Statistics, EverywhereOnce.com 89.3% of the business funded by our Angel Tax Credit have succeeded.
  9. 9. Sources: Kauffman Foundation, U.S. Bureau of Labor Statistics, Star Tribune We rank among the top five states in new patents per capita.
  10. 10. Source: MPRNews.com We are home to some of the world’s best inventions.
  11. 11. Source: LinkedIn We have 5,123 people with ‘digital innovation’ in their LinkedIn profile.
  12. 12. Source: Tech.MN, GoKart Labs We’ve created 560 digital startups.
  13. 13. Source: Brandwatch We tweeted about digital innovation and marketing 10,000 times in 2016. :happy: :puzzled:
  14. 14. DIGITAL INNOVATION HAPPENING IN THE TWIN CITIES
  15. 15. DIGITAL INNOVATION HAPPENING IN THE TWIN CITIES The Big Know KidizenBest Buy
  16. 16. GoKart Labs invented a content marketing startup that’s raised $4 in venture funding and is changing the way brands think about engaging with their audiences.
  17. 17. THE LEARNING ECONOMY IS REAL
  18. 18. Everyone remembers their favorite teacher. This is mine memorable and influential. TRANSFORMING THE ROLE OF BRAND IN CULTURE WHO WE’RE WORKING WITH Everyone loves their favorite teacher. The Big Know helps brands be that teacher.
  19. 19. Powering better marketing through branded education
  20. 20. 79% PARTICIPATE IN DISCUSSIONS 3,000+ DISCUSSIONS PER COURSE Inspiring deep engagement through community & discussion
  21. 21. 35% OF TIME IS SPENT WITH LEARNING ACTIVITIES Going beyond passive consumption with strategic learning exercises
  22. 22. Good relationships take time. The Big Know gets you that time. 56 minAVG. ENGAGEMENT TIME PER LEARNER
  23. 23. FREE PASSES: GKL 100OFF
  24. 24. DIGITAL INNOVATION HAPPENING IN THE TWIN CITIES The Big Know KidizenBest Buy
  25. 25. “We didn’t die. Check. Source: Star Tribune, BestBuy.com
  26. 26. In my turnaround manual, which I have, you don't start with strategy. You start with improving what you have. Then you work on strategy later, and that's where we are. Source: Star Tribune, BestBuy.com “
  27. 27. Source: Star Tribune, BestBuy.com 1. Improving the customer experience 2. Energizing employees 3. Deepening relationships with vendors 4. Increasing ROI through cutting costs 5. Growing sales
  28. 28. Source: Star Tribune 1. Made peace with Richard Shulze 2. Reined the store’s global footprint 3. Cut $1 billion in costs 4. Set up mini-shops within stores 5. Overhauled the supply chain
  29. 29. ONLY 1% OF VISITORS ACTUALLY BOUGHT SOMETHING NOVEMBER 2012
  30. 30. ONLINE SALES FROM 7% TO 13% OF U.S. REVENUE 2012 - 2016 PRICE MATCH STORE PICKUP
  31. 31. 2012 2016 $10 $40 NYSE: BBY
  32. 32. DIGITAL INNOVATION HAPPENING IN THE TWIN CITIES The Big Know KidizenBest Buy
  33. 33. We failed many more times from that point three years ago to now. I believe that women, especially mothers, are really good at failing because we endure. We’re built for picking ourselves back up, analyzing our failure, learning from it, and carrying on. If something doesn’t work the first ten times, we continue to seek creative solutions. “
  34. 34. DIGITAL INNOVATION HAPPENING IN THE TWIN CITIES The Big Know KidizenBest Buy
  35. 35. MAKING DIGITAL INNOVATION HAPPEN
  36. 36. Get Started
  37. 37. Bet The Garden, Not The Farm
  38. 38. Less Planning, More Making
  39. 39. Act On Complacency
  40. 40. Embrace Design Thinking
  41. 41. Find Your Side Hustle
  42. 42. THANK YOU Digital du Nord: How Minnesota Leads Digital Innovation craigpladson.com craigpladson craig.pladson@gmail.com

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