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A i i dA more inspired approach toapproach to
customersinnovation
d thand growthPeter Fisk, April 2008
Peter Fisk. All Rights Reserved,© The Genius Works 2007
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1. Seeing things differently
Outside inCustomer viewEnergiser pyramidsEnergiser pyramidsCustomer propositions
2. Thinking different things
Future backParallel playersEmerging marketsEmerging marketsInnovative solutions
3. Delivering extraordinary results
Radical actionGrowth driversBusiness lifestagesBusiness lifestagesInspirational leadership
Peter Fisk. All Rights Reserved,© The Genius Works 2007
The future is not guided by the past
Peter Fisk. All Rights Reserved,© The Genius Works 2007
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PossibilitiesPeter Fisk. All Rights Reserved,© The Genius Works 2007
NetworksPeter Fisk. All Rights Reserved,© The Genius Works 2007
LimitlessPeter Fisk. All Rights Reserved,© The Genius Works 2007
DesirePeter Fisk. All Rights Reserved,© The Genius Works 2007
VirtualPeter Fisk. All Rights Reserved,© The Genius Works 2007
PartnersPeter Fisk. All Rights Reserved,© The Genius Works 2007
Every yearWe destroy 44 million acres of forestWe lose 100 million acres of farmlandWe create 15 million acres of new desertWe use 160 billion tons of waterOur population rise towards 9 billionThe rich get richerWe want more
We can’t go on like this
Peter Fisk. All Rights Reserved,© The Genius Works 2007
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Einstein and Picasso
Peter Fisk. All Rights Reserved,© The Genius Works 2007
Rightbrain
LeftLeftbrain
Thinking differentPeter Fisk. All Rights Reserved,© The Genius Works 2007
Thinking different
1. Seeing things differently
Outside inCustomer viewEnergiser pyramidsEnergiser pyramidsCustomer propositions
2. Thinking different things
Future backParallel playersEmerging marketsEmerging marketsInnovative solutions
3. Delivering extraordinary results
Radical actionGrowth driversBusiness lifestagesBusiness lifestagesInspirational leadership
Peter Fisk. All Rights Reserved,© The Genius Works 2007
Outside in
Inside out
Outside in + Inside outOutside inPeter Fisk. All Rights Reserved,© The Genius Works 2007
Outside in
WWomen Luxury
South
YouthCommunities
GayHeritage
Entertainment
BoomersGayHeritage
Green TravelEast
Emerging marketsPeter Fisk. All Rights Reserved,© The Genius Works 2007
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Customerbroader
BusinessBusiness
view
CustomerBusiness
narrowview
narrowview
Customer contextPeter Fisk. All Rights Reserved,© The Genius Works 2007
Your M&SPeter Fisk. All Rights Reserved,© The Genius Works 2007
Your M&S
Energisers“Aspirations” “Distinguishers”
Enablers
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“Wants”
p
“Differentiators”
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Enablers
E ti l“N d ”
Wants
“M t D ”
Differentiators
Essentials“Needs” “Must Dos”
Source: Marketing Genius
Energiser pyramidPeter Fisk. All Rights Reserved,© The Genius Works 2007
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Sales £m
Rapid growth from £9.3m to £51.5m in 4 years, asreputation spreads byword of mouth. Investmentby Cadbury Schweppes
50
y y ppfunds innovation whilst retaining focus.
40
30
20 Green & Blacks
Brand repositioned in 2002 from worthy organic to luxury ,,,intense and darkat a premium price
20
10
Green & Blackslaunched in 1991.Rich, bittersweet, organic chocolate with niche appeal.
Demand driven by new luxurious packaging,exotic range extensions
0
exotic range extensions, affinity brand partners,broader distribution and targeted sampling.
Green & Blacks from good to luxury
2003 2004 2005 20062000 2001 20021991
Peter Fisk. All Rights Reserved,© The Genius Works 2007
Green & Blacks from good to luxury
Personal valuePersonal value of benefits to customer
Perceived value
“Value forMoney”
relative toalternatives Price paid
by theconsumer
Profitability
Perceived valueSource: Marketing Genius
Peter Fisk. All Rights Reserved,© The Genius Works 2007
Customer Proposition
S
C
Who?
Wh ?
Identify the target audienceyou are seeking to engage
Explanations
C
Q
What?
Why?
Describe the audience’s context,their issues, needs and wants
Q
A
y
How?
Select two unique benefits which arecompelling and differentiate you
Explain how you can offer these benefits
How much?
Explain how you can offer these benefitsbetter than anyone else, ie the features
How much will you charge for this% h /l th tit ?
What not?% much more/less than competitors?
What are the trade-offs for customers iethey could get elsewhere? (for internal use)
Customer propositionsPeter Fisk. All Rights Reserved,© The Genius Works 2007
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Tate ModernPeter Fisk. All Rights Reserved,© The Genius Works 2007
Source: Marketing Genius
Geek SquadPeter Fisk. All Rights Reserved,© The Genius Works 2007
q
… just call their special agents, or come down the precinct
Peter Fisk. All Rights Reserved,© The Genius Works 2007
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1. Seeing things differently
Outside inCustomer viewEnergiser pyramidsEnergiser pyramidsCustomer propositions
2. Thinking different things
Future backParallel playersEmerging marketsEmerging marketsInnovative solutions
3. Delivering extraordinary results
Radical actionGrowth driversBusiness lifestagesBusiness lifestagesInspirational leadership
Peter Fisk. All Rights Reserved,© The Genius Works 2007
Future back
Now forward
Outside in + Inside outFuture backPeter Fisk. All Rights Reserved,© The Genius Works 2007
Future back
Spaceport AmericaPeter Fisk. All Rights Reserved,© The Genius Works 2007
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ChangeSource: Marketing Genius
Peter Fisk. All Rights Reserved,© The Genius Works 2007
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Bulk water
Sports drinksro
wth
rate
Retail water
Juice drinksReady-to-drink
tear ave
rage
g
tea
Juices and nectars
5 ye
ar
Juices and nectars
Ready-to-drink coffeeBubble size reflects estimated
CarbonatedSoft-drinksThe Coca-Cola Company
Other brands
global beverage profits
Industry unit margins ($)
Coca-ColaPeter Fisk. All Rights Reserved,© The Genius Works 2007
Purifiedwater
1. Build capability
2. Grow marginsat
egic
fit
p yand accelerate
Stra
Juices and nectars
Mineral water
RTD coffee
Fruitdrinks
RTDtea
Sportsdrinks
3. Participate selectively
Energydrinks
4 A h diff tlBulk water Powders 4. Approach differently5. De-emphasise
Market attractiveness
Coca-ColaPeter Fisk. All Rights Reserved,© The Genius Works 2007
Where next?Peter Fisk. All Rights Reserved,© The Genius Works 2007
DisneySource: Marketing Genius
Peter Fisk. All Rights Reserved,© The Genius Works 2007
ApplePeter Fisk. All Rights Reserved,© The Genius Works 2007
Apple
1. Business modelhow the enterprise makes
5. Product performancebasic features, performance and functionality
2. Networkingenterprise’s structure/value chain
money6. Product system
extended system that surrounds an offering
7 Service
Finance DeliveryProcess Offering
7. Servicehow you service your customers
Business model
Networking Channel Brand Customer experience
Core process
Enabling process
Product performance
Product system
Service
8. Channel
9. Brandhow you express your offering’s
3. Enabling processassembled capabilities
4 C
how you connect your offerings to your customers
10. Customer experience how you create an overall
how you express your offering s benefit to customers4. Core process
proprietary processes that add value
you create an overall experience for customers
Business innovationPeter Fisk. All Rights Reserved,© The Genius Works 2007
Desperate
iPodPhone Photo
Video DesperateHousewives
Motorola
Podcasting 60G Shuffle
Nano(RED)
IconicdesigniTunesMusic
StoreLegalisingFilesharing
White Imitation AdG
Mini
iPodBrand
U2Vertigo
ExclusiveReleases
Success
cables And buzz Graphics
SpecialEdition
Story
Apple Steve JobsiMac
Molecular solutionsPeter Fisk. All Rights Reserved,© The Genius Works 2007
Jones SodaPeter Fisk. All Rights Reserved,© The Genius Works 2007
Jones Soda “Nobody actually needs our s**t”
Peter Fisk. All Rights Reserved,© The Genius Works 2007
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HillsidePeter Fisk. All Rights Reserved,© The Genius Works 2007
Border crossingPeter Fisk. All Rights Reserved,© The Genius Works 2007
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1. Seeing things differently
Outside inCustomer viewEnergiser pyramidsEnergiser pyramidsCustomer propositions
2. Thinking different things
Future backParallel playersEmerging marketsEmerging marketsInnovative solutions
3. Delivering extraordinary results
Radical actionGrowth driversBusiness lifestagesBusiness lifestagesInspirational leadership
Peter Fisk. All Rights Reserved,© The Genius Works 2007
Radical ideas
Practical action
Outside in + Inside outRadical actionPeter Fisk. All Rights Reserved,© The Genius Works 2007
Radical action
$354.7m
Revenue
$108.8m
$64 4m
$1.2m$13.5m $17.0m
$64.4m
Profit
2003 2004 2005 2006
Crocs
Peter Fisk. All Rights Reserved,© The Genius Works 2007
Segway
Source: Marketing Genius
Peter Fisk. All Rights Reserved,© The Genius Works 2007
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Strategic
OperationalG th
InnovativeGrowth
Growth
Growth
Growing by redefining context and developing
Growing through strongerdifferentiation and deeper
Growing by transforming markets with disruptioncontext and developing
new concepts:
• New concepts• New applications
differentiation and deeper customer engagement:
• New customers• New channels
markets with disruption and breakthrough ideas:
• New ventures• New categories pp
• New markets• New partners• New processes• New structures
• New propositions• New products• New communication• New pricing
g• New businesses• New acquisitions• New capabilities• New business models
Growth platforms
Peter Fisk. All Rights Reserved,© The Genius Works 2007
Impact Strategic growth initiatives
Hi h i t• High impact• High risk• Slow
Operational growth initiatives• Low impact• Low risk• Fast
Innovative growth initiatives• Medium impact• Medium risk
Sl
Time
• Slower
Growth portfolio
Peter Fisk. All Rights Reserved,© The Genius Works 2007
ManagementLeadership ManagementLeadership Managementp Managementp
Providing focus
Making decisions
Inspiring people
Creating direction
Providing focus
Making decisions
Inspiring people
Creating direction Making decisions
Delivering results
Creating direction
Encouraging action
Making decisions
Delivering results
Creating direction
Encouraging action
Inspiring leadership
Source: Marketing Genius
Peter Fisk. All Rights Reserved,© The Genius Works 2007
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HaierPeter Fisk. All Rights Reserved,© The Genius Works 2007
Create Launch Stabilise Extend Mature Evolve Exit
Revenue grows rapidly
Revenue grows rapidly
Revenue grows rapidlywith new and distinctive proposition in high growth markets
Revenue grows rapidlywith new and distinctive
g p ywith new and distinctive proposition in high growth markets
Revenue grows rapidlywith new and distinctive proposition in high growth markets Revenue grows rapidly
with new and distinctive proposition in high growth markets
Revenue grows rapidlywith new and distinctive proposition in high growth markets
Revenue grows rapidlywith new and distinctive proposition in high growth markets
g o a e s
The 7 Lives of Business
Peter Fisk. All Rights Reserved,© The Genius Works 2007
Google’s Brin and PagePeter Fisk. All Rights Reserved,© The Genius Works 2007
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Create Enter Stabilise Expand Optimise Extend Evolve
• Evaluate best k t t iti
• Building awareness and initial sales
• Consolidate and grow best customers
• Enter new markets and categories
• Focus on best markets customers
• Extend growth into new markets
• Evaluate options for exit and renewalmarket opportunities
• Articulate business purpose and strategy
• Develop initial concept for launch
Prio
ritie
s and initial sales.
• Delivering on the promise.
• Maximising impact of brand launch
grow best customers
• New strategy for secondary growth
• Improve process efficiency
and categories
• Drive innovation and service delivery
• Find more partners to extend reach
markets, customers
• Manage/rationalise product portfolio
•Fully exploit key business assets
new markets
• Drive strategic innovation
• Venturing and new partnerships
for exit and renewal
• IPO, trade sale or break up
• Or continue to next phase of growth
alle
nges
• Getting the business set up
• Developing an initial business plan
• Marketing on a limited budget
• Limited resources, everyone hands on
• Getting beyond steady revenues
• Tension between founders and staff
• Managing complex, diverse activities
• Maintain focus on best opportunities
• Dispose of non value creating areas
• Simplifying internal structure, strategies
• Rethink what is the core business
• Drive fundamental change
• Evaluate all options independently
• Maximise value of business assets
Cha
ion
• Securing start-up funding if needed
• Identifying first audience to target
• Managing cashflow closely
• Build awareness of new brand
• Retain customers and best people
• Identify new market and product options
• Consider mergers and acquisitions
• International, multi segmented CVPs
• Transparent KPIs and management
• Rationalise portfolio of customers
• Reenergise people and leaders
• Emerging markets and whitespaces
• Innovative brands and propositions
• Consider best form and timing of exit
Pro
posi
t
• Articulating brand and proposition
• Developing initial product(s)/service(s)
• Use affinity and channel partners
• Deliver initial product(s)/service(s)
• New propositions for new segments
• Partner with established brands
• Portfolio of quality products/services
• Licensing through third parties
•Rationalise portfolio of products
• Refresh brand and propositions
• Innovation of business model
• Customised solutions, channels
• Strong customer relationships
• Well protected rights and patents
nves
tmen
t • Expense of start-up and personal time
• Cost of R&D and prototyping
• Design of brand
• Cost of marketing and sales
• Cost of outsourcing back office
• Cost of new product development
• Cost of outsourcing back office
• Cost of entering new markets
• Recruit more people to support
• Cost of loans to
• Cost of brand and web refresh
• Cost of databases and analytics
• Cost of significant business change
• Cost of ventures and partnerships
• Cost of professional advice
I Design of brand , website, materials
Cost of loans to support growth
The 7 Lives of Business
Peter Fisk. All Rights Reserved,© The Genius Works 2007
Red Bull’s Dietmar MateschitzPeter Fisk. All Rights Reserved,© The Genius Works 2007
Create Launch Stabilise Extend Mature Evolve Exit
• Virtual and informal • Small team, work • More structured • Structured teams • Clearly managed • Refresh leadership • Governance
Lead
ersh
ip
Virtual and informal founder(s) only
• Funded by founders and grants
• Typically 100% owned by founders
Small team, work together, collectivism
• Maybe some private seed funding
• Typically 80-100% owned by founders
More structured and directed
• New managers, and staff gain equity
• Typically 70-90% owned by founders
Structured teams and management
• New investors and bank lending
• Typically 49-90% owned by founders
Clearly managed business units
• Formalise /clarify governance model
• Typically 0-50% owned by founders
Refresh leadership team if jaded
• Corporate ventures to drive innovation
• Typically 0-30% owned by founders
Governance ensures right action
• Fast, positive and collaboratively
• Typically 0% owned by founders
The 7 Lives of Leaders
y y y y y y y
Peter Fisk. All Rights Reserved,© The Genius Works 2007
Diesel’s Renzo RossoPeter Fisk. All Rights Reserved,© The Genius Works 2007
Thinking
Individual Organisational
The dimensions of business genius
Doing
Peter Fisk. All Rights Reserved,© The Genius Works 2007
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Seeing things differently
Peter Fisk. All Rights Reserved,© The Genius Works 2007
Thinking different things Thinking different things
Peter Fisk. All Rights Reserved,© The Genius Works 2007
A better vision.Achieving extraordinary results
Peter Fisk. All Rights Reserved,© The Genius Works 2007
Here’s to the crazy ones.
The misfits The rebelsThe misfits. The rebels.The troublemakers.The round pegs in the square holes.The ones who see things differently.
They invent They imagine They healThey're not fond of rules.And they have no respect for the status quo.
You can praise them disagree with them
They invent. They imagine. They heal.They explore. They create.They inspire.
They push the human race forward.
Maybe they have to be crazyYou can praise them, disagree with them, quote them, disbelieve them, glorify or vilify them.
About the only thing you can't do is
Maybe they have to be crazy. How else can you stare at an empty canvas
and see a work of art?
Or sit in silence and hear a song that's never been written?About the only thing you can t do is ignore them. Because they change things.
Or sit in silence and hear a song that s never been written?Or gaze at a red planet and see a laboratory on wheels?
While some see them as the crazy ones,we see genius.we see genius.
Because the people who are crazy enough to thinkthey can change the world,
are the ones who do.are the ones who do.
The crazy onesPeter Fisk. All Rights Reserved,© The Genius Works 2007
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A i i dA more inspired approach toapproach to
customersinnovation
d thand growthpeterfisk@peterfisk.com
www.theGeniusWorks.com/downloads
Peter Fisk. All Rights Reserved,© The Genius Works 2007
Peter Fisk is an experienced strategist and marketer, having spent many years working with the likes of American Express and British Airways, Coca Cola and Marks & Spencer, p y pBT and Cable & Wireless, Microsoft and Philips, O2 and Vodafone.
He is author of the new best-selling book Marketing Genius which explores the left and right-brain opportunities for marketing to deliver extraordinary results in today’s complex
k t ( M k ti G i Li ) H i l th th f B i G imarkets. (www.MarketingGeniusLive.com). He is also the author of Business Genius, an inspirational guide to entrepreneurial growth, to be published on 15 March 2008.
Peter is founder of The Genius Works (www.thegeniusworks.com) , which creates and delivers inspirational events executive development and consulting solutionsdelivers inspirational events, executive development and consulting solutions.
Marketing Genius has sold over 20000 copies since its launch in Spring 2006, and is being translated into 26 different languages. He is now writing two new books – Business Genius on how accelerate more profitable, sustainable growth ; and Green Business on p , g ;how to achieve commercial success by doing the right thing ethically and environmentally
He was previously the CEO of the world's largest marketing organisation, the Chartered Institute of Marketing, Partner at strategic innovation firm The Foundation, Managing Di t f B d Fi l d th l b l k ti lti t f PA C ltiDirector of Brand Finance, led the global marketing consulting team of PA Consulting Group, and managed brands and strategy at British Airways.
He is an international speaker on all aspects of strategy, marketing and innovation, and continues to advise some the world’s leading brands Business Strategy Review recentlycontinues to advise some the world s leading brands. Business Strategy Review recently described him as “one of the most important new business thinkers”.
peterfisk@peterfisk.comwww.thegeniusworks.com
Peter Fisk. All Rights Reserved,© The Genius Works 2007
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