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Innovation
The document is a sales deck for innovation that contains the following key points: 1. Innovation is important for organizations to stay competitive but many companies struggle with innovation capabilities. 2. A Voice of the Customer analysis and redefining the innovation roadmap process can help boost a company's innovation funnel and capabilities. 3. The House of Marketing can help companies with innovation through tools like a VOC analysis, 5 lenses methodology, and workshops to redefine the innovation roadmap process.
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Innovation
- 1. Innovation Sales Deck “Aperson who walks in another man’s track leaves no footprint”
- 2. Agenda 1. The importance of innovation to your organization 2. Helping you to boost your innovation capabilities 3. Why The House of Marketing? Presentation1 2
- 3. Innovation remains amajor challenge for Belgian marketers in 2012 4 out of 10 marketers indicate innovation as a Top challenge for 2012 What are your main challenges for 2012? Making products and services more relevant for customers 45.0% Creating a dialogue with customers 41.1% Innovating to create new markets and get the attention of customers 38.2% Do more with less due to budget constraints 37.7% Differentiating from competition 37.0% Proving the added value of the marketing efforts (ROI) 29.3% Better integrating online and offline communication 28.2% Improve your customer insights through the use of data 28.0% Tightening the collaboration with other departments 12.3% Other 3.2% N = 436 % indicating this challenge as one of their top 3 challenges Source: 2012 Yearly Marketing Survey performed by The House of Marketing Presentation1 3
- 4. Some industry leadersconfirming the importance of innovation to your company’s success “If I had asked people what they wanted, they would have said faster horses.” “Innovation is not the product of logical thought, although the result is tied to logical structure.” Henry Ford “Innovation distinguishes between a leader and a follower.” Albert Einstein “Innovation is the central issue in economic prosperity” Steve Jobs Michael Porter Presentation1 4
- 5. Few companies sustaintheir competitive edge as they lack innovation capabilities Most companies aspire sustainable and But find it hard to keep their competitive profitable growth edge over competition In order to maximize shareholder value and No less than 37 NASDAQ100 companies from create sustainable and profitable December 2007 are no longer listed in the growth, companies aspire to NASDAQ100 index. • Increase their market share; This means that 37% of leading companies cannot • Increase the customer lifetime; sustain their competitive position for more than 5 • Increase their share of wallet of a customer. years Lifetime • Undetected changes in market dynamics • Failure to recognize emerging trends • Complacant attitude after a disruptive innovation • Slow translation of insights in innovations • Lack of proper screening of innovative ideas Lifetime Value Profitability Number of customers Presentation1 5 5
- 6. While companies whoembrace innovation outperform their competitors in the long run Customer centric innovation requires you to ‘think consumer’ • Customer centric innovation requires the same activities to be performed by your marketing department • Identifying latent customer needs • Understanding the potential impact of emerging trends • Scanning of technological evolutions • … • True innovative companies are capable to translate these findings in relevant innovations to the consumer • This requires state-of-the art customer insights and understanding of market dynamics Presentation1 6
- 7. Yet despite theimportance of innovation, it is often only considered after a market disruption • new players enter the market who Bargaining power of change the „rules of the game‟ customers • low margins put a burden on the Competitive required investments in future Bargaining Threat of power of rivalry substitute growth suppliers within an products industry • there is a lack of growth perspectives in the existing Threat of Bargaining product/market portfolio new power of new entrants entrants Presentation1 7
- 8. A lot ofcompanies face difficulties in effectively managing their innovation efforts Frequently encountered innovation deficiencies Lack of customer insights and Slow or inefficient innovation market understanding processes • The pace is determined by looking at • Many new ideas, but few new competitors businesses • Focus of innovation is limited to • Caught in a trade-off between speed product specifications and new and quality, leading to miss innovation Symptoms of services windows underdeveloped innovation • innovation is regarded as applying a • Inappropriate evaluation resulting in new technology killing many ideas too early capabilities • organizations are caught in a trade-off • Slow innovation process due to between speed and quality, leading unclear attribution of roles & to miss innovation windows responsibilities • Product/service innovations irrelevant to consumers after launch 1 2 3 THoM’s answer to Voice of the 5 lenses (Re-)defintion of your innovation overcome your customer methodology roadmap challenges analysis Presentation1 8 8
- 9. So what’s init for you??? “For every year that we’ve tracked the most innovative companies, they have outperformed their regional peers in the stock market somewhere north of 200 basis points year after year.” Source: Bloomberg BusinessWeek/Boston Consulting Group 2010 Presentation1 9
- 10. Agenda 1. The importance of innovation to your organization 2. Helping you to boost your innovation capabilities 3. Why The House of Marketing? Presentation1 10
- 11. Our current innovationoffering 1 2 (Re-)definition of your roadmapping Voice of the customer analysis process Gain Customer Insights Improving innovation capabilities & increasing succes rate • Identify current and future needs and satisfaction of product/service introductions Objectives drivers, especially unmet needs. Understand value and • Shortening the innovation cycle pain points of current offering • Improving integration of market needs in innovation • Identify the target / ideal customer profile and quantify processes Willingness To Pay (WTP) • Ensuring alignment of innovation resources with business objectives VOC through qualitative research Defining roles & responsibilities : • Understand current & future customer needs and • Interviews documenting all tasks satisfaction drivers, especially unmet needs • Training with all stakeholders to consolidate all tasks • Identify key and non key product features & benefits • List all day-to-day operations (RACI) • Understand value of current offering • Refreshment workshop Activities • Identify the target / ideal customer profile • Established „good‟ practice time spending on day-to- • Calculate expected value and growth of the new day PM tasks offerings Developing the optimized processes in a 4 step approach • Analyze AS-IS (desk research & int.) • Workshops to describe the AS-IS & identify improvement area‟s • Workshops defining & validating TO-BE processes • Clear understanding of value to the customer • Documented custom and optimized roadmap process • Shortlist of consumer driven innovations • Clear RACI attribution Benefits • Supporting templates & documents • Improved customer orientation Presentation1 11
- 12. Agenda 1. The importance of innovation to your organization 2. Helping you to boost your innovation capabilities a. Voice of the Customer Analysis b. 5 lenses methodology c. (Re-)defining your roadmap process 3. Why The House of Marketing? Presentation1 12
- 13. A Voice ofthe Customer analysis is a tool that boosts your innovation funnel with new projects Without innovation your competitive edge is Idea gathering is the first step of every eroded by constant competitive pressure innovation funnel Focus of Voice of Customer analysis Idea gathering Competitive advantage Concept development Time since market launch Product / Service development Product Competitive Innovative competitive edge pressure capability G2M Post launch A Voice of the Customer analysis is aimed at boosting your innovation funnel sufficiently to generate value adding innovations that allow you to counter commoditizing market dynamics Presentation1 13
- 14. The VoC methodologyshould boost your innovation funnel with viable NPD projects 1 2 3 Preparation & Set-up Voice of the Customer Analysis Agreeing on scope & objectives Performing VOC Analysis • Workshop/meeting to define Product- • Execution of in-depth interviews • Desk-research complementing the Market Combinations (PMC) and scope • Fine-tuning of sample composition ifo customer insights generated by VOC maturity of the generated findings • In-depth analysis of the interviews Preparation of interview guides • Workshop with your marketing team to • Understanding your business and Intermediate reporting & discussion sanity check main findings customers through desk research and • Detailed documentation of all interviews internal interviews • Workshops: debriefing of interviews on Reporting and recommendations • Drafting interview guides in function of regular intervals to maximize in-depth • Detailed report providing deep insight in your business question understanding of customer feedback the value drivers and latent customer • Initial testing of the interview guides • Adapt interview guides and/or sample to needs • Intermediary of the interview guides test the first VOC findings • Recommendations Planning of interviews • Internal communication in your M&S department and obtain buy-in for interviews • Validation of contact list, sample size and composition 2 weeks 3 weeks 1 week • Agreement on scope and objectives • All interviews performed • Validated interview guide per PMC • Completed debriefing document per • Interview scheduling in-depth interview • Documented initial VOC findings Presentation1 14
- 15. A typical qualitativeVoice of the Customer analysis requires 6 weeks Week Key Activities Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Phase 1: Preparation • Briefing on projects by PM • Project scope & timing validation • Prepare and finalize int. guides • Delivery of qualified contact list • Conduct desk/internal analysis Phase 2: External analysis • Plan interviews • Conduct external interviews Phase 3: Analysis • Interview output analysis and preparation of report Final report Key Meetings Status Status Status Status Kick-Off Meeting Meeting Meeting Meeting Presentation1 15
- 16. VOC Sample output The interview guides will help to capture needs and drivers from a qualitative perspective Introduction & Purchasing process & Needs identification Interview conclusion icebrakers Competition Presentation1 16
- 17. VOC Sample output Key insights will be reported through a grid format allowing for actionable follow-through Presentation1 17
- 18. VOC Sample output Customer profiling and needs assessment allows prioritization, segmentation & focus of NPD efforts Customer profiling and needs assessment Prioritisation of NPD efforts Presentation1 18
- 19. Agenda 1. The importance of innovation to your organization 2. Helping you to boost your innovation capabilities a. Voice of the Customer Analysis b. 5 lenses methodology c. (Re-)defining your roadmap process 3. Why The House of Marketing? Presentation1 19
- 20. Agenda 1. The importance of innovation to your organization 2. Helping you to boost your innovation capabilities a. Voice of the Customer Analysis b. 5 lenses methodology c. (Re-)defining your roadmap process 3. Why The House of Marketing? Presentation1 20
- 21. Our process toreshape your roadmapping process 1 2 3 4 Workshops to define Align process with Workshop to validate & Prepare “Roadmap the AS-IS & TO-BE EREA, individual stakeholders implement the workshop” STEPS “Roadmap Process” & document processes Roadmap process • Collect all existing Workshop to align with all • Align defined TO-BE process with • Present final roadmap information concerning involved parties on the EREA business line to verify process to involved the Roadmap process • AS-IS roadmap process feasibility of defined process & stakeholders with defined • Perform focused F2F • Define TO-BE process templates templates, timelines, roles expert interviews to get • Perform conference call with & tasks • Input/output TASKS input for workshop templates sales country mgrs & Senior PM‟s • Incorporate final • Desk research & analysis to discuss defined to-be feedback into the • Timelines templates to incorporate customer documentation • Roles & Tasks • Discuss defined to-be templates dimension • Prepare & deliver process • Refine defined TO-BE with involved stakeholders: 3 results to MT • Document AS-IS & process steps after sessions: PM/R&D/Sales proposals for TO-BE • Organize implementation workshop • Fine-tune documented defined process as input for kick (WS) off WS TO-BE process TIME 4 weeks 1-3 days 1 week 2 weeks Presentation1 21
- 22. The workshops willfocus on reshaping your roadmap process by concentrating on 4 steps 1 2 FOCUS ON THE AS-IS ROADMAP PROCESSES IDENTIFY STRENGHTS/WEAKNESSES 4 3 DESCRIBE TO-BE ROADMAP DESCRIBE IMPROVEMENTS PROCESSES Presentation1 22
- 23. Evaluation of yourcurrent roadmapping process RACI analysis documenting roles & RACI analysis documenting roles & responsibilities of all internal stakeholders responsibilities of all internal stakeholders Strengths Strengths Weaknesses Weaknesses Strengths Weaknesses • Alignment on roles and responsibilities • Identify missing activities • Identify missing links • Identify strengths & weaknesses of AS-IS process Presentation1 23
- 24. The evaluation ofthe AS-IS roadmap process will be input to streamline the process Evaluation AS-IS roadmap process Optimized roadmap process • Identify missing activities • Identify strengths & weaknesses of AS-IS process Presentation1 24
- 25. We will agreeon an implementation plan that will close the gap after validation of the TO-BE process Validation of TO-BE process Implementation plan • Agree on implementation deadline • Overview of all necessary change mgt actions • Identify process owners per action Presentation1 25
- 26. Agenda 1. The importance of innovation to your organization 2. Helping you to boost your innovation capabilities 3. Why The House of Marketing? Presentation1 26
- 27. What makes TheHouse of Marketing different? Presentation1 27
- 28. We have astrong vision on marketing … Marketing is a mindset throughout the whole company, and only happens through uncompromising and ruthless focus on the total process of customer engagement. Marketing is a key contributor to achieve business objectives and to optimize shareholder value. Our guiding principles are Focus, Agility, Creativity, Tangibility and Sustainability. Presentation1 28
- 29. … and aclear view on how marketing must evolve • Simplicity • Strategic consistency • Leadership continuity • Prioritize & making choices • Consistent brand across all channels • Seek leadership in specific category • Customer centricity • Focused team • Detect trends & act • Early warning systems & processes • Agile & up to date organization • Built around customer engagement • Innovative company culture • Willingness to change • Diversity of profiles • Flexibility & Speed • Idea generation process • Idea valuation • Porosity & open-mindedness • KPI‟s & dashboards • Scenario analysis & ROMI • Connect with marketing intelligence • Analytical culture & skills • People: yours & every stakeholder • Planet: ACT on innovation, packaging, promotion... • Profit: business-minded marketers Presentation1 29
- 30. We are convincedthat flexibility is a key asset for the future to bridge capacity gaps... Resource Demand Chart FTE (hours per month) Project 1 5,000 Project 2 Project 3 Project 4 4,000 Capacity 3,000 2,000 1,000 0 1/95 4/95 7/95 10/95 1/96 4/96 Presentation1 30
- 31. …. and tobridge competence gaps Data cruncher Packaging E-commerce ……… Online specialist CPM specialist Performance management Project Management Shopper marketer CRM specialist Mobile marketer SocialMedia Strategist ……… Web master Presentation1 31
- 32. Flexibility demands theright talent at the right place, & on going training The House of Marketing can help you develop and keep the right talents in your marketing department. Coaching on the job, one company or multi company program, more details Marketing Talent program available as from October 2012 Relevant Marketing training, from general to very specific & tailor made - product management Training - project management - communication (online, offline) - social media - email marketing -…… Personal coaching focused on marketing Coaching related skills and technical skills Presentation1 32
- 33. We offer helpadapted to the new business context In a economical environment where turbulence is the new norm, The House of Marketing provides marketing excellence at the right moment, exceeding clients' expectations by delivering higher return on investment and by making the organization more agile. We achieve this by recruiting passionate marketers for whom we create an inspiring and nurturing environment. Presentation1 33
- 34. How do wework? Presentation1 34
- 35. We work ontemporary assignments…. Mostly function based Broad FMCG experience B2B and B2C environments Coordination activities of Marketing plan, go-to-market specialists in strategy & production, sales, advertising, implementation, people Brand promotion, R&D, … Marketing management, business Managers Churn analysis, churn Managers intelligence reduction Coordination of Marketing Product placement activities optimization Strong analytical and Market & competitor negotiation skills analysis Channel & Enhancing retail partnerships Business Market assessment & Category by increasing category sales Analysts quantification and aiding in fact Clustering of customers Managers based/strategic selling E-strategy definition & roll- out Extended experience in SME E-Marketers Coordination, design & and large matrix organizations implementation of e- Alignment of organization & Social Process marketing actions towards similar goals Media Website Managers Clear roles & responsibilities Specialists management, email definition, organizational marketing, social design media, mobile Presentation1 35
- 36. … and onstrategic marketing challenges Mostly project based Client challenges THoM expertise & solutions • Attract new customers • Customer intelligence: translate data into relevant insights Volume • Increase customer spending • Segmentation driven • Reduce customer churn • Business and marketing planning • Increase Innovation success rate • Innovation Management Program • Restore customer trust • Customer intelligence: translate data into relevant insights • Capture more customer value Margin • Category assessment • Margin management driven • Marketing performance management • Doing more with less resources (ROMI, CLTV, dashboards) • Tracking of ROI • Marketing audit • Define or redefine positioning • Consumer intelligence: translate data into • Changing customer experience from relevant insights product push to relational (customer- Positioning centric) • Customer (store) experience • Positioning on the sustainability dimension • Sustainability • Positioning towards current and potential • Employer branding employees Consumer analytics and insights are crucial for each of the three challenges Presentation1 36
- 37. We offer aunique combination of strategic excellence and operational pragmatism Strategic excellence Operational pragmatism • Proven track record in strategic • Track record in making things happen marketing advice within international and complex • Creating relevant insights in the companies business • Applying practical knowledge of • Identifying the true leverages for successful corporate sales and significant improvements marketing organizations • Turning opportunities into structured • Turning initiatives into tangible actions and prioritized business initiatives • Helping you to successfully implement strategic recommendations We help you in realizing more from your marketing strategies and building the marketing capabilities for systematic results Presentation1 37
- 38. We deliver tangiblevalue by bridging the knowing doing gap… Strategic excellence Operational pragmatism Presentation1 38
- 39. We have differentmeetings during an assignment PROJECT DELIVERABLES DEADLINE PROJECT DELIVERABLES DEADLINE Define MLT strategy for Market analysis End 2007 Internal Define MLT strategy for Market analysis End 2007 product X RGO identification + – Draft – product X RGO identification + estimated revenues & final reco + budget EPR Developing targeted expansion strategy for a estimated revenues & final Brand strategy Luxembourg based private life insurer Strategy, organization and marketing reco + budget Brand strategy Action plan 2008 Client Launch Product Y Product chart (branding, …. Build methodology and framework for country-specific go-to- Knowledge Capture Matrix Project objectives market launches based on learnings from first failure on the Italian market in private life insurance asset management Action plan 2008 Launch approach EPR positioning, USP, …) Client: Consultant: Project: Sodexho Pass - Apogheos Olivier Olbrechts Business Plan Date: 27/08/07 • Analysis of the fact base and decision on targets Launch package Comment: Interim (project) All documents on project saved here. Final Deliverables. Credential to follow - Life insurance business Launch Product Y Product chart (branding, …. Organization concept test STAKEHOLDERS Learnings from the way the client works Learnings on how THoM could work better New products or services Marketing domain/ methodology Relationship opportunity (executive Client agenda sell-on opportunity Industry trend/ insight Competitor information • Market structure and distribution options Follow-up launch improvement contact, positioning, USP, …) idea) SALES Apogheos = - Sold as interim project Proposal in - Small No other • Cross-border revenues Account Team Business Unit that has to be integrated but could be more profitable sold as process: coaching during the independent firms with low consulting firm identified in this - Private banking business into the Group if consulting implementation of potential for part of Sodexho return sufficiently - Formal approach and the business plan consulting/ • Market structure and differentiation Launch approach attracting to Sodexho Group deliverables could have been more clarified prior to the project interim - Exceptions (potential clients ?): • Expectations of wealthy individuals BCD Group, • Off-shore business aspects Launch package Coordinate client event ….. …. DELIVERY Marketing Domain: - No THoM methodology used - Business Plan Develop a standard financial business plan Accentiv (FR) • Value and tactics of wealth managers template created spreadsheet Methodology - Bancassurance model options in private banking Organization concept test from scratch template) - Detailed geographical study on Italian potential Follow-up launch iii team: No B2B Services team - Understanding of wealthy individuals • Wealth classification • Identification of advisory circle • Trend in family offices • (Family) business activity and influence of private equity and venture capital • Positioning study and go-to-market draft Coordinate client event ….. …. • Implications for organizational and branding requirements • Organizational roadmap and risk management Deliverables • Design of go-to-market model and potential • European-wide positioning strategy and implementation 200706-CBC-PresentationTHoM.ppt 2 Visit by SSO Mgr Interview Objectives Consultant(s) finalized Evaluation 1st call Proposal Contract Knowledge sent signed Engagement follow-up capturing Running Project status report Product Management Platform Resources Planning Risks Scope Prepared by: Liesbet Vandenberghe Period: from 25/9 to 20/10 week 6 Activities completed this reporting period Activities planned for next reporting period Client Name or LOGO Client Name or LOGO Supplier gave demo. Didier VDH will have a meeting to fine tune the requirements Didier VDH got input to make draft of technical Title of Function/project Title of Function/project requirements Central marketing will have meeting about the next steps and how we see the current project management We have now a list of general requirements tools in this project. Proposal for Interim Management Proposal for Interim Management Month Day, 2007 Month Day, 2007 LAST MODIFIED: Task ID Week Project name Action/task Task owner Follow-up Priority Status Start date Due date Date Comments/issues Decision to take Outstanding Issues/ Main Risks(1) Decision to take(1) description persons finished Issues & Risks Actions Responsible Due Date Decision Decision Maker Due Date Need alignment Meeting Thomas DC November on the real Thomas with needed Philippe. requirements Issue description Decision Decision Due date and which taker budget we can have for it. 1 2 3 4 5 6 7 (1) Format could be simplfy for simple project 8 Project status reports Liesbet 27 December.ppt 3 9 10 11 12 13 14 15 From initial call till 2 first weeks During the engagement Closing the engagement Presentation1 39
- 40. You are alwayshiring a whole team of marketing specialists Hiring a THoM consultant isn’t just hiring a person, it’s acquiring expertise: •THoM consultant: your day to day contact Visible • Counselor, Client Manager and Mentor: first help, coaching and stretched goals for Invisible the THoM consultant • All THoM consultants with their specific skills, expertise and experience: the second resort for the THoM consultant • THoM knowledge base (training, career development plan, books, papers, former projects, experience of previous THoMers) Presentation1 40
- 41. We deliver Marketingexpertise in four areas • Market Intelligence • Business & Marketing Planning I. Strategic • Segmentation • Employer Branding Marketing • Branding & Positioning • Sustainability • Pricing • Social Media II. Go-to- • Product/ Brand/ Category • Shopper Marketing Management Market • Customer Relationship • Communication (offline & Management online) • Customer Process Management • Marketing Audit III. Organization & Change • • Marketing Coaching & Training Organization Management capabilities • Customer Experience IV. • Marketing Dashboards Performance • Marketing Performance Management Management • Customer Lifetime Value & ROMI Presentation1 41
- 42. For whom dowe do this? Presentation1 42
- 43. We have clientsfrom many different sectors (1) ICT & Media Utilities & Resources Financial & Other Services Healthcare & Public Sector Transport & Logistics Presentation1 43
- 44. We have clientsfrom many different sectors (2) Consumer Goods & Retail Durables & Industrial Goods Presentation1 44
- 45. … talking aboutthe tangible value delivered by The House of Marketing “THoM‟s pragmatic approach is to me a key differentiator, as they are able to talk the language of actual executors and to predict or foresee many operational issues we need to tackle.” “We appreciated that the THoM team supported us in (Ronald Hannet, BU Manager) the bottom up approach involving customers, prospects, sales, specialists.” (Danny Vandevyver, Head of Marketing Com Belux) “THoM succeeded in creating change thanks to their straightforward and efficient solutions and approach.” “The added value of THoM is that they do not only deliver strategic advice, but their recommendations (Michael De Koster, Segment Manager) are tangible and can be implemented.” (Luc Deflem, CEO) Presentation1 45
- 46. Your point ofcontact The House of Marketing tel: +32 (0) 15 444 000 E-Mail: info@thom.eu The House of Marketing Kardinaal Mercierplein, 2 B-2800 Mechelen Belgium Fax +32 (0)15 444 044 www.thehouseofmarketing.be Join us on LinkedIn Follow us on Twitter Presentation1 46