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London Tech Week - Innovation within Business
The document outlines Somo's role as an accelerator of innovation, emphasizing the importance of digital products and services in a rapidly changing business environment. It highlights trends such as the growing dominance of mobile devices, changing consumer behaviors, and the need for innovative ownership models. Key strategies for driving innovation include customer feedback, collaborative work environments, and leveraging new technologies like voice assistants and connected devices.
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London Tech Week - Innovation within Business
- 1. From Ways ofWorking to Innovative Products Innovation Within Business
- 2. Somo is anaccelerator. Through our rapid, actionable innovation process we create digital products and services your customers and employees love.
- 3. Global client experience Finance Retail& FMCG Automotive Travel & Hospitality PMT Pharma, Utility & Government London Bristol NYC
- 4. Agenda We are ina world of constant change Challenges Innovation driving change What success looks like Key Takeaways
- 5. We are ina world of constant change
- 6. Mobile is thenew normal Time spent on mobile in UK grows 20% per year Mobile is winning versus all other media June 17 6Confidential and copyright of Somo Custom Ltd.Source: Verto August 2016 , Time spent per day on Mobile in UK (minutes) Source: eMarketer, July 2016, Share of time spent per day on Mobile Vs Other Media in UK (%) Mobile devices Other media 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2014 2016 2018 (forecast) +20% YoY growth
- 7. Mobile driving innovation June17 7Confidential and copyright of Somo Custom Ltd. 28% use voice assistant Source: eMarketer Nov 2016. Office of Communications (Ofcom), August 2016 Sources: Symantec, March 2016, Aviva, Dec 2015 Sources: Deloitte June 2016. Squiz and Morar Consulting, Aug 2016 Glue to our social life Always there support Remote control 960 sessions/month on social media 53% control connected devices
- 8. 61% 39% 30% 35% 40% 45% 50% 55% 60% 65% 2012 2013 20142015 2016 2017 2018 Mobile Desktop Source: eMarketer, “Average time spent per day with major media by US adults 2012-2018, April 2016 How we work and socialise has changed June 17 8Confidential and copyright of Somo Global Ltd. %Shareofdigitalmediatimespent
- 9. Source: Excelacom, March2016 Source: BGR, Feb 2016 Customer Behaviour is changing Confidential and copyright of Somo Global Ltd. 527,760 Photos shared 51,000 Apps download $203,596 In sales 2.4million Search queries 972,222 Swipes 2.78million Video views 20.8million messages 4.1million Users posts liked 1.7million Users photos liked Every minute of the day…150million emails sent 1,389 Uber rides
- 10. This creates massivebusiness disruption 9
- 11. “The auto industrywill change more in the next 5 years than it has in the last 50.” Mary Barra, CEO of General Motors
- 12. Innovation in connectedvehicle technology and automation We are living in an evolving connected world Electrification Connectivity Autonomy June 17 12Confidential and copyright of Somo Custom Ltd.
- 13. Payment becomes invisible June17 13Confidential and copyright of Somo Custom Ltd.
- 14. Creates new businesschallenges
- 15. Digital is drivinga velocity of change June 17 15Confidential and copyright of Somo Global Ltd. Consumer behaviour is constantly changing Consideration Selection Purchase Ownership Repurchase Source: Deloitte 2015 Source: Accenture 2016 Building trust and influence Creating new touch points 70% influenced by online car reviews 16% bought a car online Enhance experience 55% want to use a Smart Watch to control connected car Source: Google Barometer 2015
- 16. June 17 16Confidentialand copyright of Somo Global Ltd. Consumers wanting different type of ownership
- 17. June 17 17Copyrightand confidential Evolving ownership and usage models Disruptions in purchase and access models in Automotive Multi-car sub Auto Vivendi Shared ownership Orto Taxi Uber Rentals BMW Drive Now Car sharing Audi Unite Car pool Blabla Car
- 18. June 17 18Confidentialand copyright of Somo Global Ltd.
- 19. June 17 19Confidentialand copyright of Somo Global Ltd. The Evolution of the Employee Past Future Work 9-5 Work in Office Company Equipment Input Focused Corporate ladder Pre-defined work Hoards information Relies on email Focused on knowledge Corporate learning and teaching Work anytime Work anywhere Use any device Output focused Create your own ladder Customised work Shares information Relies on collaboration Focused on adaptive learning Democratized learning and teaching
- 20. Cultural Innovation June 1720Confidential and copyright of Somo Custom Ltd. Netflix Netflix Culture Deck “most important document ever to come out of Silicon Valley.” Etsy Working with the Hacker School and B-Corp to train and educate employees as well as hire managers, to make sure all employees have a voice. Airbnb Founder and CEO released an article titled: “Don’t f*ck up the culture.”
- 21. Why is innovationimportant?
- 22. Demand for Rapid Innovation Whythe focus on innovation New consumer behaviors Velocity of change New ownership models New revenue opportunities June 17 22Confidential and copyright of Somo Custom Ltd.
- 23.
- 24. June 17 24Confidentialand copyright of Somo Global Ltd. Different Types of Innovation 1. Enabling Process How to support the companies core processes and workers 2. Core Processes How you create and add value to your offerings Process 1. Product Performance How you link and provide a platform for multiple products 2. Product System How you join forces with other companies for mutual benefit 3. Service How you provide value to customers and consumers beyond and around your products Offering 1. Business model How you make money 2. Networks and alliances How you join forces with other companies for mutual benefit Finance 1. Channel How you get your offerings to market 2. Brand How you communicate your messages 3. Customer Experience How your customers feel when they interact with your company and offerings Delivery
- 25. How to drivesuccess in Innovation in Business
- 26. How to DriveInnovation Ownership Learning Environment Support and clarity Success is failure Transparency
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- 28. Clear objectives where thereis a clear vision that drives innovation C Level Cross team alignment and ownership Cross team alignment Senior Support is Key Source: CCS Inisght Alphabet
- 29. Centre of Excellence: Toaccelerate business transformation through purposeful mobile innovation and strategic excellence, building technically brilliant mobile products and experiences your customers and employees will love. Drive Support an Clarity
- 30. Establish a stronguser feedback loop e.g. In Store User testing & retailer instant feedback Create templates & tools for quality & consistency e.g. Mobile optimised brand guidelines Promote controlled international expansion e.g. Off shore development for scalability CoE deliverables – Insight, Design & Development
- 31. Define team responsibilities& relationships e.g. Define Global / regional / OpCo responsibilities for specific apps/sites Manage global contracts & partnerships e.g. Approved technology providers Provide support & training resources e.g. Innovation leadership (hacks, sprints, prototyping) CoE deliverables - Organizational
- 32. Define a reference architecture e.g.Mobile platform technologies (e.g. push, analytics) Establish a software development framework e.g. Mobile technology support & maintenance Build a scalable distribution process e.g. Public app store policies and standard materials CoE deliverables – Infrastructure
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- 34. Speed to Market Success Smallnumber of concepts rapidly to market June 17 34Confidential and copyright of Somo Custom Ltd. Lots of small bets
- 35. June 17 35Confidentialand copyright of Somo Custom Ltd.
- 36. How Wrong WeCan Be! June 17 36Confidential and copyright of Somo Custom Ltd.
- 37. Source: Consumer IntelligenceResearch estimate, Nov 16 How to increase success • Simple • Unexpected • Credible • Emotional • Stories June 17 37Confidential and copyright of Somo Custom Ltd.
- 38.
- 39. Tools for Learning Workshops& training Extension of the in-house team Access to industry experts June 17 39Confidential and copyright of Somo Ltd.
- 40. Thought leadership Somo aretraining experts Somo learning exported • Somo Mobile Marketing Course • So-Know sessions • Somo Sessions • Breakfast briefings Somo training clients
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- 44. Somo Hack Day June17Confidential and copyright of Somo Global Ltd. Purpose Structure Define client business challenges and KPIs Run Ideation sessions about how challenges can be addressed and form teams around promising concepts. Develop POCs Share learnings and further develop most effective ideas. Hack days are a way of addressing business challenges, and engaging employees, through rapid innovation in a dedicated space, over a dedicated time. Before the day During the day After the day
- 45. Key trends impactinginnovation VR Creates Accessibility Always on Engagement New Interfaces Proactive Assistants Frictionless Shopping
- 46. New interfaces areredefining engagement
- 47. Command-line Voice Biometrics Messaging Gesture Complex Intuitive Newinterfaces are changing the way brand activate their presence and influence users TouchGraphical June 17 47Confidential and copyright of Somo Custom Ltd.
- 48. Everyday accessible proactiveassistants
- 49. Source: Consumer IntelligenceResearch estimate, Nov 16 Proactive assistant is the new standard 5m Amazon Echos have been sold since 2014 65% of mobile users in 2016 used voice assistants One in five searches were voice-based on Android devices in May 2016 June 17 49Confidential and copyright of Somo Custom Ltd.
- 50. ‘Alexa, ask MyFord Mobileto start my car’ Ford first OEM to bring Alexa into the car June 17 50Confidential and copyright of Somo Custom Ltd.
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- 52. June 17 52Confidentialand copyright of Somo Global Ltd. Auto top- up Appliances calculate stock levels and buy automatically when low A connected dishwasher will re-order when it identifies that tablets are running out Optimised living lists Based on existing food’s expiry dates, shopping lists are pre- populated with relevant recipes Ordering becomes automated and ubiquitous IoT is multiplying the points of contact and sales
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- 54. Payment becomes invisible June17 54Confidential and copyright of Somo Custom Ltd.
- 55. Connected car createsseamless payment June 17 55Confidential and copyright of Somo Custom Ltd.
- 56. June 17 56Confidentialand copyright of Somo Global Ltd. VR payment keep the shopper immersed in the experience
- 57. VR and ARCreate Accessibility
- 58. Funding raised forAR and VR companies in 2015 $1.9bn Expected revenue from AR and VR combined in 2025 $185bn Something is happening…. Source: CCS Inisght Alphabet
- 59. VR head-sets aremore accessible June 17 59Confidential and copyright of Somo Custom Ltd.
- 60. June 17 60Confidentialand copyright of Somo Custom Ltd.
- 61. What’s Next •Revamped ControlCentre •Siri improvements •ARKit •Peer-to-peer Apple Pay •Drag and Drop •Do Not Disturb driving mode •iPad app Dock •Revamped AppStore iOS 11: All New Features The next version of iOS, coming in the Autumn of 2017. At a glance:
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- 63. 1 Support and Clarity 2 Success is Failure 3 Learning Environment 4 Transparency Keytakeaways The Key to Innovation involves three main steps 5 Ownership
- 64. Thank You June 1764Confidential and copyright of Somo Global Ltd.
Editor's Notes
- #3 Somo is an accelerator. Through our rapid, actionable innovation process we create digital products and services your customers and employees love
- #7 Notes fpor CU Smartphones are now the new normal and time spent on them continues to grow As desktop plateaus and TV declines
- #8 Notes for CU: Mobile is now the go to device across our lives It is the glue for our social lives It is becoming the remote for our personal life As technology becomes more integrated with our lives and brings new experiences and constant support from the likes of proactive assistants See stats above The integration of mobile in our lifes means that if becomes more of a behaviour than a device
- #13 Notes for CU Many significant developments have re-shaped car models in recent years, opening new opportunities - Electification - From EV manufacturing to developing an ecosystem of charging infrastructure and now, integrating home power solutions like Tesla is doing. - Autonomy – autonomous driving technology will open opportunities to re-design mobility solutions - Connected, personalised software - The future of connected cars is hinged to the role of Big Data and its disruptive capabilities
- #14 Notes for CU At the end of 2016 Amazon unveiled Amazon Go, a new bricks and mortar grocery store concept where customers pick up their grocery and walk out without paying at a checkout. The announcement is expected to have a deep impact on the retail marketing agenda throughout 2017.
- #16 Notes for CU: Digital and mobile are changing customer behaviour throughout the customer journey Consumer are influenced by digital contents such as videos and car reviews They already buy cars online , through online dealers and auction websites They expect connected features to enhance the product experience
- #21 https://www.entrepreneur.com/article/249293 Netflix By following their highly demanding process and hunger for passion and consistently high-performing employees, Netflix has transformed from a DVD rental service Airbnb When commissioning a design for their San Francisco headquarters, they invited their interior designers to become a fabric of the offices for four months to experience the culture and take part in the activities. As a result, the headquarters building is stunning: a completely collaborative space that prioritizes green spaces and open areas with many different types of culture walls meant to inspire their employees. Etsy Working with the Hacker School and B-Corp to train and educate employees as well as hire managers, and decreasing the management hierarchy to make sure all employees have a voice.
- #23 Notes for CU: There are 4 challenges for auto dealers. - Pressure from Suppliers = OEMs increase their bargaining power and ability to interact directly with the client with connected cars - Pressure from Customers = new bargaining power defined by digital channels - Substitutes = new ownership models such as ridesharing apps (Uber, Blablacar), mobility services (Zipcar, Car2go) - New revenue streams = new ownership products drive alternative revenue opportunities, such as financial products, and services like ridehailing and ridesharing
- #27 Senior support internally With Clear objectives Success is Failure Make lots of small bets but be prepared to fail Learning Einvornment With the speed as to where we are Centres of excellence to feed other groups of people Hack days on new technology
- #29 Something is happening And last year we saw 1.9 billion in funding raised by VR and AR companies in 2015
- #35 Note for CU More intuitive and invisible new interfaces and platforms are coming to market and gaining adoption rapidly, changing behaviours further, and introducing new ways of interacting with businesses.
- #36 Notes for CU At the end of 2016 Amazon unveiled Amazon Go, a new bricks and mortar grocery store concept where customers pick up their grocery and walk out without paying at a checkout. The announcement is expected to have a deep impact on the retail marketing agenda throughout 2017.
- #37 Notes for CU At the end of 2016 Amazon unveiled Amazon Go, a new bricks and mortar grocery store concept where customers pick up their grocery and walk out without paying at a checkout. The announcement is expected to have a deep impact on the retail marketing agenda throughout 2017.
- #38 Notes for CU Blurring of connected ecosystems Virtual assistants are now in many homes and start to be part of the buying process
- #45 Starting point can be a specific business challenge or a new piece of technology, Teams can be made of just client’s employees, or a mixture of Somo and client. They’re designed to be fun, competitive and relatively informal.
- #46 Notes for CU We summarized here the 5 most important trends and innovations that we believe are driving change in the automotive market today And have the greatest potential to disrupt the industry in the future
- #48 Note for CU More intuitive and invisible new interfaces and platforms are coming to market and gaining adoption rapidly, changing behaviours further, and introducing new ways of interacting with businesses.
- #50 Notes for CU Blurring of connected ecosystems Virtual assistants are now in many homes and start to be part of the buying process
- #51 Notes for CU But Virtual assistants are also in the car and they are creating a new browsing experience and a space for delivering new services and touch points And these new touch points bring further customer loyalty
- #53 Notes for CU The more connected spaces become the more touch points for customer interaction With all these touch points available IoT pushes companies to change perspective, from a product-mindset to a service oriented approach
- #55 Notes for CU At the end of 2016 Amazon unveiled Amazon Go, a new bricks and mortar grocery store concept where customers pick up their grocery and walk out without paying at a checkout. The announcement is expected to have a deep impact on the retail marketing agenda throughout 2017.
- #56 Notes for CU AT MWC 2017 Shell and Jaguar Land Rover, exhibited the world’s first in-car payments system JLR drivers can pay at Shell stations in the UK using the in-car touchscreen All the driver has to do is fill up, view the receipt and leave, without getting their phone out of their pockets Customers with the Shell app installed and a car with InControl Apps can connect their smartphone to the dashboard, allowing them to locate the nearest Shell station, confirm which pump they are at, and pre-authorise using Apple Pay or PayPal, so all the driver has to do is fill up, view the receipt and leave.
- #57 Notes for CU In 2016, Alibaba Group introduced VR Pay, its virtual-reality payment system that allows virtual reality shoppers to pay for items just by nodding AT MWC 2017 Visa presented their own version of VR payment system based on biometric eye recognition
- #59 Something is happening And last year we saw 1.9 billion in funding raised by VR and AR companies in 2015
- #60 VR is experiencing similar tech advancements and cost reduction curves as we have seen on PCs and smartphones, Rapid democratisation of technologies continues VR is experiencing similar tech advancements and cost reduction curves as we have seen on PCs and smartphones
- #61 Alibaba launched Buy+ a VR experience where you can enter a shop and buy products