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Value of social collaboration


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Value of social collaboration

  1. 1. Demonstrating the value of SocialCo-Innovation At 6 months, cumulative revenue attributed to BIX members was $120,000 or 58% of program cost 1
  2. 2. How Well Has Bose Idea Exchange Met Our Business Objectives? A review:Q1Objectives • Improve advocacy, loyalty and brand perception • Improve Bose customer experience through direct consumer feedback • Drive increased sales of existing Bose products • Pursue new market opportunities; new target consumers • Eliminate ‘non valued-added’ costs 2
  3. 3. Over 60% of respondents cite improvement of Bose perception because of participation in BIX We asked As a result of your experience as a member of the Bose ideaAdvocacy/Perception Exchange, how has your perception of Bose changed, if at all? They voted “Thanks for writing in to me for my inputs. Your keen interest in receiving new ideas is a tribute to what a great firm you have built over so many years. This is deeply appreciated.” Product Owner 3
  4. 4. Bose BIX Automotive Customers Cite Even Higher Advocacy We asked How likely are you to recommend the brand of premium audioAdvocacy/Perception you have in your vehicle? (0=Very Unlikely – 10=Very Likely) They voted Bose Automotive Owners are twice as likely to recommend the Bose sound BIX value to Bose system than other premium audio owners product marketing? •Opened channel to end users •Confirmed high advocacy and perception •Created tool to leverage future auto programs 4
  5. 5. BIX member ideas were a key lever to improve carAdvocacy/ manufacturer leverage.Perception 4.6 Very Satisfied with Bose We asked 4.5 If you were to describe the 4.4 sound quality of your Bose system to a friend, what 4.3 Not as good as expected would you say? 4.2 Base: Bose Automotive 4.1 Owner 4.0 3.9 Always buy 3.8 Bose Be able to upgrade 3.7 Bose system Members gave Importance 3.6 Wants MP3 or iPod their own answers. 3.5 capability 3.4 Want Bose aftermarket 3.3 3.2 16% 26% 36% 46% 56% 66% 76% Popular sentiments 5
  6. 6. BIX Member Headphone ConcernsImprove Customer Experience Drove Vendor Fix. Members said Value to Headphone BU? Hard time getting reliable hard data •“Currently have Triport headphones. from the field (on failure rates) … …Great sound…Hate the construction starting to rely on data from the and durability. Many people say they community. break easily --(check reviews I can get a strong sense for how “ Cord too thin.” many customers out there are pointing out ‘weak’ headbands on •“After half a year of airline usage, BIX cable/wire between headphones and Quality will include hard data and amp unit broke --- huge problem metrics related to BIX members. which amuses other business class passengers. Very disappointing… Used data to advocate for 3 year extended warranty cheap wire and Bose.” Product GM 6
  7. 7. Member email out-performed traditionalIncrease sales marketing Product Audience Members Bought Members Taught Bose 1 •BIX Email 77% very/extremely valuable 900 Upgrades •Increasingly difficult to isolate web connected markets 2 13,500 1,400 DVDs requested •Members valued upgrades •Members appreciated ‘preferential’ communication; 81% very/extremely valuable •Members expected discount or trade-in loyalty 15,000 program 3 Units •Concern about remote-only strategy and alarm clock capability •75% choose ‘too expensive’ •Upgrade price range was 600 – 1,000$ 4 1,300 Units •Benefits of [new product] not received •40% chose ‘Thanks for opportunity’ 7
  8. 8. “Reduced risk. Accelerated deliver of next gen product”Eliminate NV Costs “We had a hypothesis that 6 features would be high priority – 3 were validated. More important, 3 were refuted. – Avoided spending development resources on low priority features, – Redeployed to get product to market sooner. 8