Inspiring the Future by Charles Trevail of Promise - Presented at Insight Innovation eXchange North America 2013
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Businesses are operating in a more volatile world than ever before. Every business model is open to challenge and under constant threat. Increasing levels of data and pressure to move faster make it difficult to take time to step back and think – making businesses and their people resistant to change. On top of that, demanding consumers want more for less and rely on their feelings as facts. These aspects of the current business landscape make it challenging to get inspired and create breakthrough innovations. To inspire the future, we must turn many of the principles that have guided market research for the last 50 years upside down. Inspiring the future is all about consumer inspired growth by creating real value in customers’ lives. This session will cover six key principles of an ‘outside in’ approach to helping organizations grow and serve as pillars to inspire the future of your business: Creating deep and intimate relationships Asking a really big question that matters to your customer Listening for possibilities Inventing together to acknowledge that everyone is creating Generating passion and creativity through play Building momentum with your consumer These principles will be brought to life with real life examples from around the world of co-creating with your customers.
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Inspiring the Future by Charles Trevail of Promise - Presented at Insight Innovation eXchange North America 2013
- 1. Inspiring the future June 2013 CharlesTrevail | CEO
- 2. Collaborating and co-creating with consumers for…
- 3. Pioneers in co-creation… The future of flying Brand Extensions The restaurant of the future Retail service propositions Better money in a cashless world A global mission – ‘make everyday delicious’
- 4. Pioneers in online communities
- 5. WHICH DRIVES HIGHER RETURNS -50% -40% -30% -20% -10% 0% 10% 20% 30% 40% RELATIVECHANGE COMMUNISPACE CLIENT INDEX VS. THE S&P 500
- 6. Agenda 1 Why inspiring the future is so difficult 2 How do you inspire the future
- 7. Why inspiring the future is so difficult
- 8. Inspiring the future | slide 8
- 9. Inspiring the future | slide 9 How can you build temporary monopolies?
- 10. Inspiring the future | slide 10 When there is more choice than ever…
- 11. Inspiring the future | slide 11 When consumers are in charge…and are becoming more and more demanding…
- 12. Inspiring the future | slide 12 When it comes to customers, feeling s are facts
- 13. Inspiring the future | slide 13 When there is no time to think…
- 14. 2.9m emails sent every second There is so much noise… 20hours of video uploaded toYouTube every minute 50m Tweets every day (www.bigdatadiary.com)
- 15. Inspiring the future | slide 15 When 90% of the world’s data will be created in the next two years (Gartner)
- 16. Inspiring the future | slide 16 When human beings are uncomfortable with change …
- 17. Inspiring the future | slide 17 I love Paris in the the springtime
- 18. Inspiring the future | slide 18 How do you inspire the future?
- 19. Inspiring the future | slide 19 …by creating value in customers’ lives
- 20. Inspiring the future | slide 20 1By creating relationships
- 21. Inspiring the future | slide 21
- 22. Inspiring the future | slide 22 2 By asking a big question
- 23. Inspiring the future | slide 23 The bigger the question, the bigger the breakthrough
- 24. Inspiring the future | slide 24 3By listening for possibilities
- 25. Inspiring the future | slide 25 GREEN/CONSERVATION ROMANCE/LUXURY
- 26. Inspiring the future | slide 26 4 By inventing together
- 27. Inspiring the future | slide 27
- 28. Inspiring the future | slide 28 5 By playing/dreaming
- 29. Inspiring the future | slide 29 ‘Play’ engages consumers and generates better ideas
- 30. THE FIVE COLLABORATION FUNDAMENTALS 4 5 By Playing/Dreaming5 By collaborating together4 By listening for possibilities3 By asking a big question2 By creating relationships1
- 31. Inspiring the future | slide 31 Be part of inspiring the future! CharlesTrevail| Find our more in our first book…
Editor's Notes
- TALK TRACK: companies that care about involving consumers in their business are the companies that are most successfulWhat it’s measuring:How the stock performance of the publicly traded companies that are most engaged with Communispace compare to the S&P 500 Takeaway:I’d be really careful about overtly claiming causation here since that’s impossible to prove that the direction of causation is the way we want it and it’s easy to demonstrate that it’s not. I’d focus more on the feeling that this is an elite club – companies that care about involving consumers in their business are the companies that are most successful. (and let the audience internally make the error of causation). This is like the Wall ST. Journal’s advertising campaign a while ago talking about how all the millionaires are subscribers of the wall st journal. It’s not that reading the WSJ makes you a millionaire (tho this is what they likely wanted you to think), but being a millionaire and reading the WSJ is highly correlated. So you’re part of the elite club if you too get the WSJ. Methodology:The cSpace index is comprised of the 25 publicly traded* clients that had the largest engagement with us per year. The proxy metric for “engagement” is contract size (dollars / calendar year) with Communispace. The cSpace Index is an index (arithmetic mean of changes over time) is a representation of the percent change in stock price from the time the client was on that list to when it moved off the list (due to relative drop in “engagement” including engagement = $0, ie: no longer a client). Notes: The companies are not weighted based on where in the top 25 they are. The standard calendar year was used in both stock performance and in calculating revenue with Communispace. That is, if client signed a 1 year $1.2 Million contract in December 2009, if only $100,000 of that contract is booked in calendar year 2009, the $100,000 is the criterion used to determine if it’s on the list or not. If it is on the list, the company would be evaluated from the beginning of the that calendar year (ie January 2009). The example I’ve provided here is the extreme example but it it’s unlikely that this would affect the data because there aren’t outliers in contract size (it’s linear/incremental as you move down the list). The reason this method was chosen was due to available data (the list from finance is broken down by year, not by month) and ease of calculation. *Major markets only. Companies that trade on Pink sheet/Over The Counter were not included (ex: Nestle) due to difficulty in accessing data but could be included in the future (with data likely being entered by hand). This had little effect on the index.
- Sir Alex Ferguson – Natural risk-takers like Sir Alex Ferguson are few and far between. Even in the face of opposition from fans and players alike, he has never shied away from selling popular, high-profile players like David Beckham or Ruud Van Nistelrooy, if he thought it was for the good of his team.Most people are not like Sir Alex Ferguson or Steve Jobs, and are naturally cautious and risk-averseAt an organisational level, this risk-aversion is often compounded by internal politics and bureaucratic inertia.
- AppleiPad example
- Data fact – Research shows that “95% of large organisations collect customer feedback but only 10% use the information to drive improvement” Daniel Kahnemann – The Nobel prize-winner’s book ‘Thinking Fast and Slow’ has been called a masterpiece and described as the best book on psychology in a generation. It’s premise is that we have two types of thinking – ‘system 1’ and ‘system 2’. ‘System 1’ is automatic, intuitive and effort-free, whilst System 2 is conscious and more deliberate. His argument is that System 1often trumps System 2 and draws on an array of psychological principles, studies and examples to justify his position. The importance in feelings in shaping perceptions of a brand – Everything Everywhere continually report higher satisfaction rates among their customers with the network than T-Mobile, even though both operators share the same network
- The terror of inactivity – In the modern, busy world, we are finding it difficult to be alone with ourselves. Technology and new innovations are increasingly allowing us to fill all gaps in the day with communication, activity, play and work.When we do have time alone, we face the terror of what is happening around us. We are off the grid, out of the loop. This increasingly creates a sense of guilt and anxiety.Question to crowd – When was the last time you switched your phone off? Probably never, due to the ‘fear of missing out’ (what youngsters have abbreviated to ‘FOMO’).
- Question to audience – what is this facility?In 2006, the businessman Gerard Van Grinsven asked a big question to himself – ‘how do you create a hospital that promotes wellness to all community members, rather than just treating the sick’? The Henry Ford West Bloomfield Hospital has reinvented the community hospital with an ambitious mission statement of taking ‘health and healing beyond the boundaries of imagination’.
- Traditional focus groups and surveys tend to ask very specific questions that purposefully restrict the range of possible answers. A company may feel this approach suits them if they want a quick feedback on a specific product or service. However, this represents very superficial engagement and doesn’t enable the creativity and imaginative ideas that all consumers are capable of in the right conditions. Thus, companies need to ask the big question if they really want to harness the creative power of consumers. For example, we have just finished a major, cross-market project with an international airline exploring the future of flying, and what innovations it could launch in 2016 to differentiate itself from the competition. Asking a big question like this has led to the emergence of a range of exciting and practical ideas across all aspects of the flying experience.In 2006, the businessman Gerard Van Grinsven asked a big question to himself – ‘how do you create a hospital that promotes wellness to all community members, rather than just treating the sick’? The Henry Ford West Bloomfield Hospital has reinvented the community hospital with an ambitious mission statement of taking ‘health and healing beyond the boundaries of imagination’. The hospital’s facilities and surroundings are stunning and more like a luxury hotel than hospital. It is located on 160 acres of woodland and designed to resemble a North Michigan lodge, each patient room is private and designed to resemble a home bedroom, and the food is gourmet and organic. The hospital also hosts free concerts for the community and has even received requests from couples wishing to hold their wedding reception there!
- In 1991, British Airway’s transatlantic business passengers provided up to 40% of the airline’s profits, yet these cabins were only half full. We set ourselves the challenge of designing a customer-focused change process that would boost business ticket sales. Our process involved the BA team at every stage including an initial internal session that challenged existing assumptions, a workshop with customers – in which 25 BA staff met and worked with 50 premium travellers – and a final implementation programme that sought to overcome internal barriersResult?Customers and staff invented together the world’s first fully flat beds in business class. This was launched in 2000 and increased revenue per seat by 60% and doubled customer satisfaction in the first year
- Example – Sky’s customer closeness sessions, where different types of TV viewers met each other along with Sky executives, led to a breakthrough insight. Listening to Sky+ customers enthusiastically extoll its virtues to Freeview users, Sky executives came to realise the solution to converting Freeview users to Sky+ was ‘to tell, not sell’. This insight formed the basis of an advertising campaign in which famous faces, like Michael Parkinson, talked about the strengths of Sky+. The campaign helped Sky to produce its strongest Q4 net additions in five years – attracting 321,000 new customers.
- Our full-day work shop with safari business &Beyond (then CC Africa) revealed what the core essence of the brand should be in the eyes of its customers.Before the workshop, many of the internal team felt the business’ differentiator was its green and conservation credentials. However, through listening to customers and non-customers, the team learned that in spite of growing consumer consciousness around ‘green’ issues, it was not yet a buying criterion and what most people were buying into was luxury
- In 2005, we worked with Jumeirah to ‘invent the future of hospitality’ and re-engage the brand with its customers as they embarked on an ambitious global expansion programme. Before the workshops with customers in the US, UK and Dubai, Jumeriah’s management believed its focus should be providing its customers with more luxury. However, consumers told a very different story. Their gripes were much more elementary – they wanted free wifi in the hotel and lower laundry prices!Involving senior management in the process ensured these basic but crucial insights landed and were acted upon by management.
- Etihad –Designers and consumers worked together to help build the aircraft of the future.
- Etihad –Designers and consumers worked together to help build the aircraft of the future.