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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
Fronteer StrategyCo-creation & Open Business Models- 2nd Vlerick Innovation Day
Brussels, October 11, 2011
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Crowdsourcing
Co-CreationCommunitiesExpert Board
Open Innovation
User Generated Content
Social Media2.0
Collaboration
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Team sessionsHiring an agency
Expert panels Brainstorm
sessionsResearch
Social media
How does it relate to?
Co-Creation
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Question to you:
“What is Co-creation?”
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
ABOUT US
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We help brands to grow
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STRATEGY
Our services
INNOVATION
CO-CREATION
VALIDATION
BUSINESS MODELING
IMPACT
BRAND DEVELOPMENT
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CO-CREATION
Unpredictability
11 Source: Banny Bannerjee, Stanford University
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“You cannot solve a problem
with the same thinking that
created it.”
Albert Einstein
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“No matter who you are, most of the smartest people work for someone else.”
Bill Joy, Founder Sun Microsystems
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“Co-creation unlocks the collective creativity of
people to create deeply relevant solutions.”
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“Co-creation is the chance for others to complete
the work that you started, going well beyond what you
envisioned or intended.”
Henry Chesbrough, author of Open Services Innovation (2011)
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“Co-creation is developing new products, concepts or services
together with customers, partners and other expert stakeholders.”
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Why Co-Creation?
1. Real involvement of the outside world
2. Fresh new perspectives, ideas & energy
3. Innovative, compelling & round concepts
4. Point of No Return
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4 TYPES OF CO-CREATION
4 Types of Co-creation
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Anyone can join
Selection process
Initiator Initiator + Contributors
Club of Experts
Community of Kindred Spirits
Coalition of Parties
Ownership
Open-ness
Crowd of people
Crowd of People
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Anyone can join
Selection process
Initiator Initiator + Contributors
Ownership
Open-ness
4 Types: Crowd of People
Crowd of People
For any given challenge, there might be a person ‘out there’ with a brilliant idea
➡ Community, PR, Crowdsourcing
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200-500 USD
99Designs
What does the co-creator get out of it?
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2500 USD
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1% of revenues
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25.000 € and 1% of revenues
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40% of revenues
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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
A GRI (Glucose Responsive Insulin) for Better Treatment of Type 1 Diabetes
100.000 USD
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1M USD
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100M USDFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
- 250 USD
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Anyone can join
Selection process
Initiator Initiator + Contributors
Ownership
Open-ness
4 Types: Community of Kindred Spirits
Community of Kindred Spirits
Groups with similar interests & goals developing something for the greater good
➡ Social, Open Innovation
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Glory
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Your own products made
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A new interior
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A better world
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A better classroomFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
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A unique chance
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Anyone can join
Selection process
Initiator Initiator + Contributors
Ownership
Open-ness
4 Types: Coalition of Parties
Coalition of Parties
In certain complex situations you need to team up to share ideas and investments
➡ R&D, Relations
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New opportunities
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New value
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Anyone can join
Selection process
Initiator Initiator + Contributors
Ownership
Open-ness
4 Types: Club of Experts
Club of Experts
Specific, time-pressured challenges that demand expertise & breakthrough ideas
➡ Visionary, Team
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WHY?
Fun, Fullfillment, Fame, Fortune
Co-creation services
Crowd of people
ROOFTOPExpert co-creation5 + 10 people1 challenge, 1 day
CLUBHOUSEStrategic alliances2+ parties1 challenge, x wks
CAMPSITECrowdsourcing500+ people1 challenge, 9 wks
CAMPERInnovation camp10-15 people5 days-off
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KICKSTARTER.COM
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What can we get funded?
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Some recent numbers:
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Source: Wired.com
80 Projects launched daily
5% goes to Kickstarter.com
10% of projects are gadgets
+/- 40% gets funded
400K pledgers
14K projects
1M USD pledged weekly
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How does it work?
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Upload project
Video, blog, social media
Pledge levels
Backers% FundedDays left
Production..
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What could be improved?
1. More structure
2. Co-creation
3. Hick-ups
What is really good?
1. Easy & Open
2. Trust
3. Promotion
Source: Yobble
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A iPod Nano watch got...
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As a result:
6 People hired to answer...40.000 e-mails
Prooduction time shortenedto 30 days
Very close connection to customers
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Source: Wired.comSource: Wired.com
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“People’s use of the service is never what the creators
intended.”
- Investor in Kickstarter
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Source: Wired.com
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THE FUTURE?
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How will we fix a broken stroller?
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Thanks
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Whitepapers: fronteerstrategy.com
FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.