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ApplyingBlueOceanStrategyACaseStudyaboutSmartpen
MarkParkerm arker@smartsellin .com
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Introduction
ThispresentationcovershowSmartSellingusedBlueOceanStrategysoastocreateasustainablebusinessforSmartpenAustralia.
Thisversion
of
the
presentation
includes
explanation
of
the
core
componentsofBlueOceanStrategy.
CertainimageswithinthispresentationareownedbyUCSIBOSRCandBluecean ra egy.
TheBlueOceanStrategybook isavailablefrommostgoodbookstoresand
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Background Livescribe
ThePulseSmart enwaslaunchedin2007intheUS http://www.livescribe.com
ThePulseSmartpenisacomputerinapen.Itcaptures
audioandsynchronisesthistowhatyouarewriting.
ThePulse
Smartpen
has
won
international
acclaim,
includin :
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Background Smartpen
Smart enisanAustralianbusinessthatsellsthe
LivescribePulseSmartpen
http://www.smartpen.com.au
SmartpenwasthefirstresellertoofferLivescribeforsale
.
Smart enhasnoretail resence itsa ureonlinestore Thestartupmodelcouldbedescribedas
bootstrappingthe
business
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TheProblem
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TheProblem
Thecom etitionarrivedshortl afterSmart enlaunched
onlinesales.ItwasannouncedthatthePulseSmartpen
wouldalso
be
sold
through
Officeworks
Officeworksareanationalretailofficesupplieschain
Officeworkscoulds endmoreonabovetheline
marketingandcouldoutdiscount
Officeworkshadtheretailpresencetobettercaptureimpulsebuyers
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TheSolution
Smartpenwasntinapositiontocompeteontraditional
Goin head to head wasnt an o tion. The wouldvedestroyed us
K. Palmer Sales Manager Smartpen
focusingonvalueinnovationratherthanheadtohead
competition
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TheSolution
thequestionforSmartpenwaswhethertheycouldtap
intothat
otential
Dont Compete with Rivals, Make Them Irrelevantwww.blueoceanstrategy.com
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BlueOceanStrategy&ValueInnovation
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TheImportanceofValueInnovation
soughttoachieve.
Savecostsbyeliminatingand/orreducingthebarriersfornoncustomers
Liftvaluebyraisingorcreatingelementstheindustry
Dont Compete with Rivals, Make Them Irrelevantwww.blueoceanstrategy.com
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UsingBlueOceanStrategy
SmartSellin workedwithSmart enthrou hthecore
Strategysteps:
1. VisualAwakening
.
3. Socialisin theStrate Strate Fair
4. Executionof
the
Strategy
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Step1 VisualAwakening
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Step1 CreateanAsIsStrategyCanvas
Thestrate canvasisbothadia nosticandanaction
framework.
Itcaptures
the
current
state
of
play
ItsalsousedtocreatetheToBecanvas
strategycanvas.
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Step1 VisualAwakening
TheAsIsstrate canvaslookedlikethis
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WhatDoesThisTellUs?
Smart enhadlittleo ortunit todifferentiate
Officeworkscontrolled
the
factors
that
could
most
damageSmartpensabilitytoremaininthemarket
Abovethelineadvertisin
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Step2 VisualExploration
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VisualExploration SixPathsAnalysis
AsSmartpentransitionedintotheExplorationstage,timewasspentontheSixPathsAnalysis lookingacross
alternateindustries,groups,productsandservices
Thisanalysisidentified: Applestores howtheyharnessdesireand
enthusiasm.
n us ness,w ospen sa oto t meta ngnotesor
minutes?
Howdothesubgroupsofeducatorsworkand
communicate
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Step2 VisualExploration
Fromthisstudyweidentifiedanumberofnewcustomersegments seediagram .
Ourfocusshiftedtowhatbarriersexistedforthesenon
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WhatDidWeHearfromNonCustomers?
Whatdoesitdo?
Iwork
in
asmall
rural
school.
How
do
we
buy
one?
Thisismyjob.Willithelp?
CanIuse
the
pen
to
create
mini
tutorials
for
my
students?
I
work
with
students
from
non
English
speaking
backgrounds;howwillthishelp?
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Step3 VisualAwareness ERRCGrid
Ourfieldresearchledustodevelo thefollowin Four
ActionFramework
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Step3 VisualStrategyCreation
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VisualStrategyCreation ToBeCanvas
Throu haseriesofiterationsaToBeStrate Canvaswas
developed
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TheStrategyFair
TheToBeStrate Canvaswassuccessfull validated
withallstakeholders.
Executingthestrategyinvolvedtwothings:
.
2. Develo mentandexecutionofasocialmedia
strategy
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CreatingtheBlueOcean
TheBlueOceanfornoncustomerswasinthesocial
sphere usingsocialtechnologiestoremovethebarriers
forthese
non
customers
so
they
could
become
customers
,
thatwould
allow
it
to
connect
with
these
non
customers
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BlueOceanStrategy&SocialMedia
Atthecoreofthestrate were rinci lesthatincluded:
1. Listening initiallypassivebutsoonconversationallistening2. Beintheirsocialspace goouttotheirworldsandcontribute.
. e peveryone even ey n purc ase rom mar penhelp
them
anyway
4. EncourageInnovation encourageuserstoinnovate;crowdsourcehowandwheretheproductcouldbedeveloped
5. BePatient beingsocialbuildsloyalty.Itwonthappenovernightbutitwillhappen
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SocialMediaStrategy
Thisisonewayoflookingatthestrategy
Out here welisten and
learn
The
The tools to
facilitate the
SMARTPENdialogue
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SocialMedia ListenandLearn
Goal Listentothecommunit andlearnfromthemStrategy
1. WeusetoolslikeGoogleAlerts,Twitter,andScout
Labstolistentotheconversation
2. ScoutLabs
has
proven
more
effective
as
we
can
tracksentiment
3. Twitter
search
is
good
for
Twitter
specific
traffic
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SocialMedia Engage.Dialogue
Goal Gointothesocialworldande n a eStrategy
1. Wecontributeadviceandknowledgeinspecific
socialnetworksandforums
2. Bevery
diligent
about
not
trying
to
sell
3. If wecantmeettheirimmediateneed sendthem
towheretheycan(i.e.theenemy)
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Summary
Smartpenneededtocompeteagainstamajorlegacyretailer
forsales
of
the
Livescribe
Pulse
Smartpen
Solution:
1. Smartpenused
Blue
Ocean
Strategy
to
identify
non
customersandthebarriersthatpreventedthem
ecom ngcustomers.
.
customersandcreateablueoceanoutcome
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Acknowledgements
BlueOceanStrategy: SpecialthankstoPhillipNgandhisteamfromUSCIBOSRC CopyrightformanyofthestandardBlueOceanStrategyimages
inthis
presentation
are
owned
by
USCI
BOSRC.
Phillipcanbecontactedon(03)[email protected]
BlueOcean
Strategy: Visittheirwebsite www.blueoceanstrategy.com
Contacts:
MarkParker SmartSelling [email protected]
(0414)725549
ContactSmartSellingifyoureinterestedinlearninghowBluecean trategycou e pyour us ness
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OtherBackground
Smartpen: BasedinBrisbane,SmartpensuppliestheLivescribePulse
SmartpenthroughoutAustraliaandNewZealand.
SmartSelling: ProvidedtheBlueOceanStrategyandSocialMediaexpertise
toSmart en.
Based
in
Brisbane
Smart
Selling
is
focused
on
delivering
innovationthroughtheuseofBlueOceanStrategyandsocial
SmartSellinghassincemadeafinancialinvestmentinSmartpen