fronteer strategy presentation efinancials co creation nov 2010

10 STEPS FOR SUCCESSFUL

CO-CREATIONIN FINANCE

EFINANCIALS2010

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Door: Martijn PaterFronteer Strategy

Amsterdam, 4 November 2010

TOUCHPOINTS

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

“Dear Bank of America: Despite being an overwhelmingly large and powerful banking entity, I find you wildly inept. For this reason, I feel as though we ought to part ways. It's not you - it's me. I need to try and find myself, and feel it unfair to stay with

you. Be well, BofA. Yours always, disgruntled banking patron"

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EMPATHY

Top-10 Empathic Brands 2010

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Attractive

Empathic

Source: Ruigrok Netpanel, Fronteer Strategy

1,5 2,0 3,0 4,0 4,53,5

1,5

2,0

3,5

4,0

4,5

EMPATHISCH

2,5

AANTREKKELIJK

2,5

Derde variabele zichtbaar in grootte van stip: Innovatief

Efteling

RTL4

PhilipsSony

Nokia

Samsung

Canon

Apple

PanasonicLG

Dirk van der Broek

Plus

Aldi

LidlJumbo

C1000

Blokker

Hema

Albert Heijn

Bol.comIkea

Jupiler

Grolsch

Heineken

Nescafe

Cup a Soup

Coca Cola

Douwe Egberts

Pickwick

Tele2

XS4ALL

UPC

Ziggo

KPN

FoodDrankenRetailBankenInternetprovidersElectronicaOverigFriesland Bank

Van Lanschot

Triodos ASN Bank

SNS Bank

ABN Amro

RabobankING

Cela VitaLassie

Grand ItaliaBertolli

Maggi

Heinz

UnoxHonig

Knorr

Conimex

Calve

Remia

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Category differences

Source: Ruigrok Netpanel, Fronteer Strategy

Top-10

Banks

MEGATRENDS

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

AUTHENTICITY

TRANSPARENCY

DESIGN

COLLABORATION

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10 STEPS FOR SUCCESSFUL

CO-CREATION

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

1. Realise one thing2. Define your strategy3. Inspire participation4. Select the very best

5. Connect creative minds6. Share results

7. Continue development8. Think R.O.I.

9. Get the IP right10. Mobilise internally

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“Co-creation unlocks the collective creativity of

people to create deeply relevant solutions.”

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What is it?

Source: Copenhagen Co-creation

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

1. Realise one thing

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“No matter who you are, most of the smartest people

work for someone else.”

Bill Joy, Founder Sun Microsystems

Why?

Unpredictable systems

18 Source: Banny Bannerjee, Stanford University

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

2. Define your strategy

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Club of Experts

Crowd of People

Community of Kindred Spirits

Coalition of Parties

Anyone can join

Selection process

Initiator Initiator + Contributors

Ownership

Open-ness

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

4 Types of Co-creation

20 Source: Fronteer Strategy Whitepaper

Club of Experts

Anyone can join

Selection process

Initiator Initiator + Contributors

Ownership

Open-ness

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 21

4 Types of Co-creation

IHG/Chase priority club members

22Source: Communispace

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 23

Centraal Beheer

Crowd of People

Anyone can join

Selection process

Initiator Initiator + Contributors

Ownership

Open-ness

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 24

4 Types of Co-creation

DBS crowdsourced youth-bank

25 Link: The Financial Brand

Rabo Chatbetalen Campaign

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Community of Kindred Spirits

Anyone can join

Selection process

Initiator Initiator + Contributors

Ownership

Open-ness

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 27

4 Types of Co-creation

Peerbackers community equity

28 Link: Peerbackers

Flattr social micropayments

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. Link: Flattr29

Coalition of Parties

Anyone can join

Selection process

Initiator Initiator + Contributors

Ownership

Open-ness

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4 Types of Co-creation

Pin banking coalition

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Corsini Due home-owner funded

Link: Corsini Due site

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 32

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

3. Inspire participation

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Link: Worldbank site34

Worldbank software sourcing

Obama crowdfunding

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Source: Dailycrowdsource.com

South Valley Bank & Trust

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

4. Select the very best

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 38 Source: Forrester

Many people wanting to co-create

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

100% Consumers

1% Creators

10% Synthesizers

But you have to look for your 1%

39 Source: Fronteer Strategy Whitepaper

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 40

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Explorers

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 41

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Heroes

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 42

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Innovators

Eyeopen expert club

43 Link: Eyeopen

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

5. Connect creative minds

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Fool’s Gold

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Innotribe collaboration platform

46 Source: Business Week

DSB The Movie co-created

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

6. Share results

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ING Klantdialoog

49 Link: ING site

Interpolis beoordelingen

50Link: Interpolis site

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

7. Continue development

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Centraal Beheer innovatieproces

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

8. Think return on investment

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ABN AMRO Seeds Crowdfunding

54 Link: Seeds site

Open Innovation ROI

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BIGGER...

BETTER...

FASTER...

Results

STRONGER...

Innocentive

Cost savings.Savings from faster research process.

Access to a diverse network of experts.Fostering a more innovative culture.

Smoother IP transfer process.

ROI of 74%

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Source: Innocentive, Forrester

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

9. Get the IP right

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With:

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‘The Amsterdam Model’

What will the future bring?

How will value be distributed?

Who owns what?

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

10. Mobilise internally

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DRIVERS:

Reputation Building

Sense of belonging

Networking

Peer recognition/Status

Job market opportunities

Fun & involvement

Skill-Building

New challenge

Love the brand

Money (never main driver)

BARRIERS:

Unclear rewards

No interest in the challenge

Trust

Participants’ Drivers & Barriers

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Source: Fronteer Strategy

FansAmbivalentOpposers

Anna Kirah

Source:

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Internal bloodgroups

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DANK U

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Martijn Patermartijn@fronteerstrategy.com

ABOUT FRONTEER STRATEGY

Fronteer Strategy

Innovation.

Co-creation.

Brand Development.

Change.

Leading Co-creation consultancy.

Blue chip client base in The Netherlands and abroad.

People’s background in fashion, design, engineering, marketing, consulting

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ROOFTOP™Expert Co-creation

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

We offer in co-creation

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CAMPSITE Community Co-creation

Link: Fronteer Strategy

Links Visit our website

www.fronteerstrategy.com

Updates from the Fronteer

www.fronteerstrategy.com/blog/

Follow us on twitter

twitter.com/fronteerstrat

twitter.com/martijnpater

Slideshare

www.slideshare.net/Fronteer

Our whitepaper on co-creation

Co-Creation’s 5 Guiding Principles

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