AOM16 Lean Insights Big Impact

transcript

#SDAOM

CLYNTON TAYLOR @clynton

Lean Insights, Big Impact

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Out of toilet paper? Tweet it!

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The world is changing faster today than at any other point in history.

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No memory of the 20th CenturyY2K is a meaningless termHong Kong has always been part of China9/11 has always been in their textbooksNapster has always been legalNetflix and eBay have always existedThe weird sounds from dial-up? What?

College Freshmen today…

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2500000000000000000

2.5 quintillion bytes of data are generated every day

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Changes are getting STEEPer.

SocietalTechnological

EconomicalEnvironmental

Political

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The number of people 65 and older will triple by mid-century to 1.5 billion.

Societal

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Organovo has made its 3D printed liver tissue commercially available.

Technological

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We are preparing to take humans to mars.

Technological

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The number of years it took to double the GDP per capita:

Economic

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India is the fastest growing major economy in the world.

Economic

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The US has had 13 $1B+ extreme weather events so far this year.

Environmental

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SMOG is blamed for 7 million deaths every year.

Environmental

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Political

Syria has been decimated sending upwards of 5 million people fleeing.

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In such a disruptive climate it’s increasingly hard for

companies to grow.

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1980 2011

Average number of years S&P 500 companies survived on the index:

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We’re living in an increasingly VUCA world.

VolatilityUncertaintyComplexityAmbiguity`

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The world is littered with dead companies that didn’t adapt

fast enough.

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Kodak, while out of bankruptcy, is just a shell of its former self.

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Blackberry lost another $670 million US in the first quarter.

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Blockbuster went from 9000+ stores in its prime to only a handful today.

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So the big question is, how do you not only survive,

but thrive in a VUCA world?

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Some companies turn to new technology.

Others try switching up their business model.

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But strategy born from customer experience is more likely to lead to sustained success.

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Companies that foster meaningful experiences with customers outperform the stock market by 133%.

And increase share of wallet by 46%.

− Havas Media

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Meaningful

Emotional

Functional$

Not all experiences are equal.

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Companies that create meaning in people’s lives enjoy more loyalty, higher margins, and ultimately bigger profits.

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So how do you figure out what experiences people will want?

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This takes deep insight into what people desire.

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But in a rapidly changing world, getting to insights quickly is

what’s important.

So how do we do that?

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We can borrow a page from the Lean Startup playbook.

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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

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The ability to quickly figure out what customers want, building on learnings through an iterative process.

Lean Insights

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1 Hangout With Your Customers

Six Principles of Lean Insights

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The Axe team went to parties with young guys to learn how to connect with them.

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2 Utilize Friends and Family

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Dove discovers unmet needs from an employee’s wife to develop a new marketing strategy.

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3 Ask Multiple Whys

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Target shops with teens and gains an insight worth $8B USD annually.

3 Ask Multiple Whys

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4 Prototype Quickly and Often

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Kimberly Clark uses QVC to identify the message that pays.

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5 Embrace Extreme Users

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Swingline Staples tests a new product with airline check-in agents, and saves millions.

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6 Don’t Wait for Approval, Go!

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An HP designer goes rogue to work with engineering and create a new printer.

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3 Ask Multiple Whys

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Thank You!

@Clynton

/Clynton

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We landed a space probe on a comet 300 million miles from earth.

Technological

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Netflix executives called customers to go watch movies with them in their homes.

AOM16 Lean Insights Big Impact

Marketing