AOM16 Lean Insights Big Impact
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In an increasingly volatile, ambiguous, and rapidly changing world, gaining insights about what customers want now and in the future is more challenging than ever. Borrowing a page from the lean startup playbook, we can quickly learn about what customers want and build meaningful connections with them that have lasting revenue-generating impact. The difference between companies that thrive versus others that don’t often comes down to a rich, empathic understanding of what customers want. Learn how to: Gain insight into what matters most to customers, quickly Identify innovative ways to test concepts with and get vital feedback from customers Turn customer insights into actionable steps that build meaningful customer relationships SPEAKER: CLYNTON TAYLOR SVP of Strategy, Scansion
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AOM16 Lean Insights Big Impact
- 1. #SDAOM CLYNTON TAYLOR @clynton Lean Insights, Big Impact
- 2. #SDAOM Out of toilet paper? Tweet it!
- 3. #SDAOM The world is changing faster today than at any other point in history.
- 4. #SDAOM No memory of the 20th Century Y2K is a meaningless term Hong Kong has always been part of China 9/11 has always been in their textbooks Napster has always been legal Netflix and eBay have always existed The weird sounds from dial-up? What? College Freshmen today…
- 5. #SDAOM 2500000000000000000 2.5 quintillion bytes of data are generated every day
- 6. #SDAOM Changes are getting STEEPer. Societal Technological Economical Environmental Political
- 7. #SDAOM The number of people 65 and older will triple by mid-century to 1.5 billion. Societal
- 8. #SDAOM Organovo has made its 3D printed liver tissue commercially available. Technological
- 9. #SDAOM We are preparing to take humans to mars. Technological
- 10. #SDAOM 150 UK 50 USA 15 China 15 India The number of years it took to double the GDP per capita: Economic
- 11. #SDAOM India is the fastest growing major economy in the world. Economic
- 12. #SDAOM The US has had 13 $1B+ extreme weather events so far this year. Environmental
- 13. #SDAOM SMOG is blamed for 7 million deaths every year. Environmental
- 14. #SDAOM Political Syria has been decimated sending upwards of 5 million people fleeing.
- 15. #SDAOM In such a disruptive climate it’s increasingly hard for companies to grow.
- 16. #SDAOM 1958 61 1980 2011 1825 Average number of years S&P 500 companies survived on the index:
- 17. #SDAOM We’re living in an increasingly VUCA world. Volatility Uncertainty Complexity Ambiguity`
- 18. #SDAOM The world is littered with dead companies that didn’t adapt fast enough.
- 19. #SDAOM Kodak, while out of bankruptcy, is just a shell of its former self.
- 20. #SDAOM Blackberry lost another $670 million US in the first quarter.
- 21. #SDAOM Blockbuster went from 9000+ stores in its prime to only a handful today.
- 22. #SDAOM So the big question is, how do you not only survive, but thrive in a VUCA world?
- 23. #SDAOM Some companies turn to new technology. Others try switching up their business model.
- 24. #SDAOM But strategy born from customer experience is more likely to lead to sustained success.
- 25. #SDAOM Companies that foster meaningful experiences with customers outperform the stock market by 133%. And increase share of wallet by 46%. − Havas Media
- 27. #SDAOM Companies that create meaning in people’s lives enjoy more loyalty, higher margins, and ultimately bigger profits.
- 28. #SDAOM So how do you figure out what experiences people will want?
- 29. #SDAOM This takes deep insight into what people desire.
- 30. #SDAOM But in a rapidly changing world, getting to insights quickly is what’s important. So how do we do that?
- 31. #SDAOM We can borrow a page from the Lean Startup playbook.
- 32. #SDAOM Implementation-driven Product management Specify before building Failure is exception Operates on complete data Hypothesis-driven Customer development Build iteratively Failure is expected Operates on good-enough – Steven Blank Traditional Lean
- 33. #SDAOM The ability to quickly figure out what customers want, building on learnings through an iterative process. Lean Insights
- 34. #SDAOM 1 Hangout With Your Customers Six Principles of Lean Insights
- 35. #SDAOM The Axe team went to parties with young guys to learn how to connect with them. 1 Hangout With Your Customers
- 36. #SDAOM 2 Utilize Friends and Family Six Principles of Lean Insights
- 37. #SDAOM Dove discovers unmet needs from an employee’s wife to develop a new marketing strategy. 2 Utilize Friends and Family
- 38. #SDAOM 3 Ask Multiple Whys Six Principles of Lean Insights
- 39. #SDAOM Target shops with teens and gains an insight worth $8B USD annually. 3 Ask Multiple Whys
- 40. #SDAOM 4 Prototype Quickly and Often Six Principles of Lean Insights
- 41. #SDAOM Kimberly Clark uses QVC to identify the message that pays. 4 Prototype Quickly and Often
- 42. #SDAOM 5 Embrace Extreme Users Six Principles of Lean Insights
- 43. #SDAOM Swingline Staples tests a new product with airline check-in agents, and saves millions. 5 Embrace Extreme Users
- 44. #SDAOM 6 Don’t Wait for Approval, Go! Six Principles of Lean Insights
- 45. #SDAOM An HP designer goes rogue to work with engineering and create a new printer. 6 Don’t Wait for Approval, Go!
- 46. #SDAOM 1 Hangout With Your Customers Six Principles of Lean Insights 2 Utilize Friends and Family 3 Ask Multiple Whys 4 Prototype Quickly and Often 5 Embrace Extreme Users 6 Don’t Wait for Approval, Go!
- 48. #SDAOM We landed a space probe on a comet 300 million miles from earth. Technological
- 49. #SDAOM Netflix executives called customers to go watch movies with them in their homes. 1 Hangout With Your Customers